The Board of Directors of Alam Maritim Resources BHD (AMRB) is pleased to announce that the Group's sixty percent-owned subsidiary, Eastar Offshore Pte Ltd had received an additional order from an Australian company, Neptune Marine Services Ltd for one unit of ROV at a contract sum of approximately RM6.8 million.
The purchase order dated 10 April 2008 is for the supply of 1 unit of work-class SWIFT ROV. The ROV is expected to be delivered to the client tentatively by December 2008.
This is the third unit ordered by Neptune Marine Services Ltd, making the total value ordered approximately RM18.9 million.
The contract is expected to contribute positively to the Group's future earnings and net tangible assets for the financial year ending 31 December 2008. Notwithstanding this, the contract is not expected to have any material effects on the share capital and shareholding structure of the company.