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TAS Offshore secures $8m two-tug deal

TAS Offshore secures $8m two-tug deal
TAS Offshore has won contracts for the sale of two harbour tugs worth about MYR31.6m ($7.9m), the company said in a stock market announcement.

The vessels are being sold to an existing customer and are expected to be delivered in the last quarter of 2017.  

TAS Offshore added that the revenue generated from the contract is expected to contribute positively to the earnings and net assets of the group for the financial years ending 31 May 2017 and 2018.