Alam Maritim awarded RM24.8m AHTS contract

PETALING JAYA: Alam Maritim Resources Bhd’s wholly-owned subsidiary Alam Maritim (M) Sdn Bhd has been awarded a RM24.8 million work order for the provision of anchor handling tug supply (AHTS) for Petronas Carigali Sdn Bhd.

The contract is expected to contribute positively to the earnings and net tangible assets of Alam Maritim and its group of companies for the financial year ending Dec 31, 2020 and thereafter within the duration of the contract.

The risk factors associated with the contract include execution and operational risks such as availability of vessels, skilled manpower, equipment and materials in compliance with the terms of the contract, unexpected mechanical breakdown, changes in political, economic and regulatory conditions.

“Throughout the years, Alam Maritim has established its track record and expertise to undertake the contract. In mitigating the risks, the group will closely monitor all planned activities as per the project schedule and adhere to the Quality, Health, Safety, Security and Environment - Integrated Management System in ensuring to continually deliver reasonable quality services,” the group said in a stock exchange filing today.