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PPB Subsidiaries Secure Contracts Worth USD 23 Million (Malaysia)

Posted by | 08.01.2013 | Maritime News

PPB Subsidiaries Secure Contracts Worth USD 23 Million (Malaysia)
The Board of PPB announced that its wholly-owned subsidiaries, Intra Oil Services Berhad (“IOS”) and Perdana Marine Offshore Pte Ltd (“PMO”) have been awarded two charter contracts.
The first contract relates to provision of one workboat unit and it has been awarded by Alam Maritim (M) Sdn Bhd. The contract period of 9 months commenced on January 4 2013 and it includes an extension option for an additional year.
The second charterer is Ibnusina Resources Sdn Bhd who has placed a cont…ract for provision of one workbarge unit for a period of 21 months commencing 15 February 2013 with an extension option of 3 months.
The contracts with total value of approximately RM70.0 million (excluding the extension option) are expected to contribute positively to the revenue and earnings of PPB Group for the financial year ending 31 December 2013 and the financial periods thereafter for the duration of the contract. There will be no effect on the gearing of the PPB Group and the contracts will not have a material effect on the net asset per share for the financial year ending 31 December 2013.

World Maritime News Staff, January 8, 2013; Image: PERDANA

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