KUALA LUMPUR (Dec 27): Icon Offshore Bhd shares gained 1.37% in late morning trade today after it bagged a RM5.6 million contract to provide one straight supply vessel to EQ Petroleum Production Malaysia Ltd for the Seligi/PM 8 (Extension) oil field offshore Peninsular Malaysia.
At 10.56am, Icon Offshore rose half a sen to 37 sen with 628,000 shares traded. It has a market capitalisation of RM429.67 million.
Icon said the contract, clinched through its wholly-owned subsidiary Icon Offshore Group Sdn Bhd, will commence this month and will continue for a period of one year.
"The contract is expected to contribute positively to the earnings and net assets of Icon Group for the financial year ending Dec 31, 2016 and beyond," it added.