KUCHING: Perdana Petroleum Bhd’s (PPB) wholly-owned subsidiary Perdana Nautika Sdn Bhd (PNSB) has secured a vessel chartering contract worth RM7.96 million.
On Jan 27, 2023, PNSB received a work order award from Petronas Carigali Sdn Bhd for the provision of one anchor handling tug supply (AHTS) vessel. The contract, which will commence on the vessel’s on-hire certificate date estimated on March 1, 2023, is for a duration of 245 days with option to extend for up to 30 days.
“PNSB shall provide 1 unit of AHTS vessel with crews and equipment to perform a continuous 24 hours service for the purpose of assisting and/or servicing drilling rigs, offshore installations, derrick barges, towing and anchor job,” PPB said in a filing with Bursa Malaysia.
PPB said the contract is expected to contribute positively to the earnings and net assets of the group for the financial year ending Dec 31, 2023. The latest contract was the second secured by PNSB from Petronas Carigali in four months. In October last year, PNSB received a contract extension from Petronas Carigali also for the provision of one unit of AHTS for a similar job from July 11, 2022 to April 29, 2023.
The contract extension worth RM15.5 million involves the amendment to the extension period from the original contact of “up to 30 days” to “up to 292 days.”
In an unrelated development, YKGI Holdings Bhd said ASTEEL Development Sdn Bhd (ADSB), which is a 100 per cent-owned subsidiary of ASTEEL Resources Sdn Bhd which in turn is 80.36 per cent owned by YKGI, has accepted the terms and conditions offered by Housing Development Corporation (HDC) for a proposed three phase property development project.
The project comprises 426 units of affordable Sri Pertiwi landed houses (334 immediate and 92 corner units), 484 units of affordable Sri Pertiwi apartment and 96 units of affordable Spektra medium apartment with community facilities on HDC land on Phase 3, 5 and part of Phase 4 of Lot 37-43 and 45-47 Block 7 Matang Land district, Sungai Tengah here.
The estimated combined total sum for the project is about RM271.6 million.
“A formal agreement for the said project will be executed between ADSB and Housing Development Corporation in due course.
“ADSB shall plan, design, construct and complete the Sri Pertiwi houses, Sri Pertiwi apartment and Spektra medium apartment with infrastructure and facilities within three years from the date of formal approval of the project by the State Planning Authority,” YKGI told Bursa Malaysia.
Meanwhile, Reservoir Link Energy Bhd (RLEB) has recorded higher group net profit of about RM3.36 million in the latest quarter ended Dec 31, 2022 against RM2.18 million a year ago despite a drop in group revenue to RM32.4 million from RM33.8 million.
The company attributed an increase in group pre-tax profit to about RM4.8 million in the latest quarter from RM2.18 million previously mainly to the fair value gain on other investment of RM2.4 million.
“The decrease in group revenue was mainly due to the decline in revenue from oil and gas segment by RM2.4 million but offset by the increase in revenue from renewable energy segment for the amount of RM0.9 million,” RLEB said in explanatory notes to its latest financials.
For the current year-to-date financial performance, RLEB posted sharply lower pre-tax profit of RM225,000 from RM17 million a year ago as revenue declined to RM97.5 million from RM112.4 million.
“The decline in revenue from oil and gas segment by RM53.6 million was mainly due to completion of Mauritania project in Oct 2021 but offset by the improvement in revenue from renewable energy segment by RM38.6 million,” added the company.
RLEB said its acquired Founder Energy Sdn Bhd is expected to contribute positively to the group earnings as the vendor has given a profit guarantee of RM13.8 million for the next 24 months from the completion date of the acquisition.
