MARINE & General Bhd (M&G) has received a work order award for the provision of an anchor handling tug and supply vessel for Petronas Carigali Sdn Bhd, with the contract worth RM16 mil.
It said via a bourse listing that Jasa Merin (Malaysia) Sdn Bhd, a subsidiary of M&G, received the award on Dec 27, 2019.
This contract is expected to bring the group RM16 mil over the course of 2020, which will lead to a positive impact on the group’s earnings for the financial period ending April 30, 2020, and for the following financial year as well.
M&G’s shares closed at 10 sen, down a sen, with 105,100 shares changing hands on Jan 21.
