Quick take: Perdana Petroleum gains on news of RM50mil charter contracts

January 10, 2020 editor Perdana Petroleum

KUALA LUMPUR: Shares of Perdana Petroleum Bhd rose in active trading in early trade Friday, after the company announced that it secured charter contracts worth RM50.1mil.

The counter rose 1.25%, or 0.5 sen to 40.5 sen with 927, 200 shares traded. Perdana-PA added 1.33%, or 0.5 sen to 38 sen.

Perdana Petroleum said its subsidiary Perdana Nautika Sdn Bhd has secured a total of RM50.1mil contracts from Dayang Enterprise Sdn Bhd.

It said the contracts involved charter of two units accommodation workbarge and two units anchor handling tug and supply vessels.

It said the vessels charter is expected to commence from Feb 1, while the extension period was subjected to the mutual agreement between both parties.

It said the charter service was a recurrent related party transaction which the company had obtained a mandate from its shareholders during an annual general meeting on May 21 last year for the amount of RM120mil.

Source: TheStar