Alam Maritim nets diving services contract at Malaysian project

Submitted by Paddy Harris on Fri, 2015-01-30 09:57

30th January 2015

Alam Maritim Resources Berhad has announced that Alam Hidro (M) Sdn Bhd, a wholly-owned subsidiary of Alam, has received a Letter of Award from a reputable local main contractor for the provision of air/saturation diving services at an inshore repair and maintenance project in Kedah for a total contract sum of approximately USD 2.75m

The contract is to commence on 15 February 2015 and expected to be completed by 31 March 2015

The contract is to commence on 15 February 2015 and expected to be completed by 31 March 2015.

The contract, valued at approximately USD 2.75m (MYR 10m), is expected to contribute positively to the earnings and net tangible assets of Alam for the financial year ending 31 December 2015.

Notwithstanding this, the contract is not expected to have any material effects on the share capital and shareholding structure of Alam.