Kuala Lumpur, March 10 – ICON Offshore Bhd announced that Icon Bahtera (B) Sdn Bhd, an indirect wholly-owned subsidiary of ICON and Zell Transportation Sdn Bhd, has secured another long-term contract. This contract is to charter an accommodation workboat (AWB) namely Icon Valiant to SPHI Marine Sdn Bhd, a company operating in Brunei.
The value of the contract is RM72, 062, 340 and commenced on March 1 for a period of three years with an option for an extension period of up to two years, of which, the extension(s) shall be on a yearly basis.
Amir Hamzah Azizan, Managing Director of ICON said: “We are pleased to have won this long-term contract in Brunei as it is a testament of our track record and expertise, thus far. With this win, ICON will further establish its business presence in the regional market space within the OSV sector.”
Amir added: “We will continue to remain agile and flexible to adapt to the changes in the ever-changing oil and gas industry.”
This long term contract will contribute positively to the earnings and net assets of ICON group for the financial year ending December 31, 2017 and beyond.
On December 23, 2016, ICON announced its contract wins valued at RM5.6 million from EQ Petroleum Production Malaysia Ltd. The contract commenced in December 2016 for a period of one year.