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KUALA LUMPUR: Coastal Contracts Bhd has won a new charter contract and secured an extension for an existing one, totaling RM252mil.

In a filing with Bursa Malaysia yesterday, the integrated marine oil and gas services and solutions provider said its subsidiaries, Pleasant Engineering Sdn Bhd and Elite Point Pte Ltd recently secured a new charter contract and extension of existing charter contract for one unit vessel and one unit liftboat respectively.

“The contract period for the new charter contract is for five years commencing this month and the extension is for two years from September with two annual extension options. The contracts are expected to contribute positively to the earnings and net assets of the company for the financial year ending June 30, and the financial periods thereafter,” it said.