KUALA LUMPUR (Feb 14): Marine & General Bhd (KL:M&G) announced that its subsidiary Jasa Merin (Malaysia) Sdn Bhd (JMM) has been awarded contracts for the provision of six straight supply vessels (SSV) and three anchor handling tug supply (AHTS) vessels from oil majors.
These contracts — awarded by Petronas Carigali Sdn Bhd, ExxonMobil Exploration and Production Malaysia Inc and Vestigo Petroleum Sdn Bhd — have a cumulative value of approximately RM300 million for the firm contracted duration of three years.
The charterers have an option to extend their respective contract for a period of up to another three years, said M&G in a bourse filing on Friday. The firm contracted duration will commence at the end of this month, the group said.
At Friday's close, M&G’s share price stayed flat at 30 sen, giving it a market capitalisation of RM238.2 million.
The counter had been trading at 4.1 times trailing price-to-earnings ratio, according to AskEdge data.
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