KUALA LUMPUR (Jan 27): ALAM MARITIM RESOURCES BHD [] shares rose on Friday after it secured a US$37 million (RM115 million) transportation, installation and pre-commissioning contract from Samsung Engineering (Malaysia) Sdn Bhd (SEMSB).
At 9.20am, Alam Maritim added 3.5 sen to 79 sen with 1.47 million shares done.
The company said on Thursday that its wholly owned unit Alam Maritim (M) Sdn Bhd had received the contract fom SEMSB for the transportation, installation and pre-commissioning of two pipelines, two single point moorings and two PLEM’s (pipeline end manifold) in connection with Sabah Oil & Gas Terminal Project.
It said the engineering work was expected to commence immediately and the anticipated delivery date was by the third quarter of the financial year ending Dec 31, 2012.
It said the contract was not renewable.
Alam Maritim said the contract was expected to positively contribute to its earnings for the financial year ending Dec 31, 2012.
At 9.20am, Alam Maritim added 3.5 sen to 79 sen with 1.47 million shares done.
The company said on Thursday that its wholly owned unit Alam Maritim (M) Sdn Bhd had received the contract fom SEMSB for the transportation, installation and pre-commissioning of two pipelines, two single point moorings and two PLEM’s (pipeline end manifold) in connection with Sabah Oil & Gas Terminal Project.
It said the engineering work was expected to commence immediately and the anticipated delivery date was by the third quarter of the financial year ending Dec 31, 2012.
It said the contract was not renewable.
Alam Maritim said the contract was expected to positively contribute to its earnings for the financial year ending Dec 31, 2012.
