Published: Thursday September 20, 2012 MYT 7:01:00 PM
Coastal Contracts sales orders hit RM743mil
KUALA LUMPUR: Coastal Contracts Bhd's total sales orders for vessels increased to RM743mil up to Thursday with the recent contracts for three units valued at RM111mil.
It said on Thursday its units secured orders to sell two anchor handling tug supply vessels and one subsea support vessel valued at RM111mil.
"Including the new contracts and after adjusting for revenue recognition from vessels delivered to buyers up to Sept 20, 2012, Coastal Group has about RM743mil worth of vessels sales orders awaiting delivery to customers up to 2013," it said.
Coastal Contracts expect the revenue stream from the latest contracts to contribute positively to the earnings per share and net assets per share of Coastal Group for the financial years ending Dec 31, 2012 and Dec 31, 2013.