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Alam Maritim picks up $22m contract

Alam Maritim picks up $22m contract
Alam Maritim Resources has won a MYR99m ($22.3m) two-year subsea inspection, maintenance and repair (IMR) services contract.

The offshore support vessel company said in a stock market announcement that it had won the contract through its Alam Maritim (M) unit to provide the services to an independent oil and gas exploration and production company and it has a one-year extension option.

“The contract is expected to contribute positively to the earnings and net tangible assets of Alam Maritim for the financial year ending 31 December 2017 and beyond," the company said.