Saturday 27 May 2017

Icon Offshore bags RM5.4m vessel provision contract

Icon Offshore Bhd has bagged a RM5.4 million contract to provide a 60-tonne bollard pull anchor handling tug supply vessel for Sarawak Shell Bhd and Sabah Shell Petroleum Co Ltd’s operations.

In a filing with Bursa Malaysia, Icon said the contract, clinched through its wholly-owned subsidiary Icon Offshore Group Sdn Bhd, is for a period of up to 10 months.

"The contract is expected to contribute positively to the earnings and net assets of Icon Group for the financial year ending Dec 31, 2017 and beyond. Notwithstanding this, the contract is not expected to have any material effects on the share capital and shareholding structure of Icon," it added.

At 2.44pm, Icon shares were traded unchanged at 28 sen, with 911,000 shares done, giving it a market capitalisation of RM329.61 million.