THE CONTRACT FOR ONE UNIT ANCHOR HANDLING TUG SUPPLY VESSEL
INTRODUCTION
The Board of Directors of Alam Maritim Resources Berhad ("AMRB" or "the Company") is pleased to announce that its wholly-owned subsidiary, Alam Maritim (M) Sdn Bhd, had received a letter of award dated 2 April 2009 ("the Contract") from an established oil major for the charter of one (1) unit of Anchor Handling Tug Supply Vessel ("AHTS") namely, MV Setia Unggul for a total contract sum of approximately RM7.70 million.
DURATION OF CONTRACT
The Contract is for a primary period of 200 days with two (2) extension options of 60 days and 120 days, which had retrospectively taken effect from 23 March 2009.
The Contract is for a primary period of 200 days with two (2) extension options of 60 days and 120 days, which had retrospectively taken effect from 23 March 2009.
FINANCIAL EFFECTSThe Contract valued at approximately RM7.70 million are expected to contribute positively to the earnings and net assets of AMRB for the financial year ending 31 December 2009 and beyond. Notwithstanding this, the Contract is not expected to have any material effects on the share capital and shareholding structure of the Company.
None of the Directors or major shareholders or persons connected to the Directors or major shareholders has any direct or indirect interest in the Contract.
DIRECTORS' STATEMENTThe Board of Directors of AMRB is of the opinion that the acceptance of the Contract is in the best interest of the Company.
This announcement is dated 6 April 2009.
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