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Flash Note – Perdana Petroleum (ADD, maintain) - Securing RM705m chartering contract from Dayang




Affin Hwang Investment Bank Bhd


26 May 2013





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Securing RM705m chartering contract from Dayang Securing RM705m long-term chartering contract from Dayang Perdana announced that the group has accepted a letter of award from Dayang (a substantial shareholder of Perdana with a 26.1% stake) for the supply of 5 workbarges and 1 workboat. The contract duration is 5 years with an option to extend for 1 year, commencing in various stages starting July 2013. Dayang will deploy the vessels to support the work activities of its recently secured hook-up, commissioning and topside maintenance contract from Sarawak/Sabah Shell. The estimated contract value for the vessels chartering contract is RM705m.

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