M&G receives RM14 mil work order from Petronas Carigali

MARINE & General Bhd (M&G) has received a work order award for the provision of an anchor handling tug and supply vessel, with the contract worth about RM14 mil for the primary term.

In a bourse filing on Feb 13, M&G said its subsidiary, Jasa Merin (Malaysia) Sdn Bhd, received the work order award on Jan 17, with the contract to commence in mid-February 2020 for 305 days.

It is expected to contribute positively to the group’s earnings for the financial period ending April 30, 2020, and beyond within the duration of the contract.

M&G’s shares were last done at 7 sen, down half a sen, with 284,000 shares changing hands. – Feb 13, 2020

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