<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Aug 14): Coastal Contracts Bhd (KL:<a href="/askedge/klse/5071" class="ce-stock" target="_blank">COASTAL</a>), a Sabah-based shipbuilder, is selling an offshore support vessel for RM175.78 million.&nbsp;</p></div>

<div class=newsTextDataWrapInner><p>The company announced in a bourse filing that its wholly-owned unit, Coastal Offshore Marine Inc, secured the vessel sales order on Friday.</p></div>

<div class=newsTextDataWrapInner><p>No further details were disclosed.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>Coastal Contracts said the vessel sale will contribute positively to the earnings of its shipbuilding division and the company's net assets for the financial year ending Dec 31, 2026.</p></div>

<div class=newsTextDataWrapInner><p>The shipbuilder slipped into the red in its last financial year ended Dec 31, 2025 (FY2025) with a net loss of RM48.1 million from a net profit of RM163.03 million in FY2024, as revenue dropped to RM56.08 million from RM77.76 million.</p></div>

<div class=newsTextDataWrapInner><p>It started FY2026 with a 23.22% drop in first-quarter net profit to RM10.34 million from a year ago, as revenue halved to RM8.15 million from RM16.54 million.</p></div>

<div class=newsTextDataWrapInner><p>Shares of Coastal Contracts rose one sen or 0.69% to close at RM1.46 on Friday, valuing the company at RM821.51 million.</p></div>


Coastal Contracts Bhd (KL:COASTAL), a Sabah-based shipbuilder, is selling an offshore support vessel for RM175.78 million.

Coastal Contracts gets RM175.8m offshore support vessel sale order

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<p>The Dewan Rakyat on Tuesday approved amendments to legislation that would empower the youth and sports minister to revoke the registration of sports bodies deemed harmful to national security, public order or morality.</p>


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<p>Here is a brief recap of some business news and corporate announcements that made the headlines on Tuesday.</p>


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<p>Renewable energy solutions provider Samaiden Group Bhd (KL:SAMAIDEN) said its contracts to undertake works for a 99.99-megawatt (MW) Large Scale Solar 5+ (LSS5+) project are worth RM238 million.</p>


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<p>Below is a summary of how key Bursa Malaysia indices and the ringgit performed on Tuesday.</p>


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