Coastal Contract sales book order at RM1.55b (Edge)

COASTAL CONTRACTS BHD[ COASTAL  1.950  0.040 (2.094%) ]'s sales book order reached about RM1.55 billion after it secured the sales of three vessels for RM70 million.

The company said on Aug 13 that its units had collectively secured sales of two offshore support vessels and a tugboat for US$19.7 million (about RM70 million).

"Including these latest sales, the aggregate value of vessel orders clinched by Coastal Group so far in 2009 has topped RM87 million, comprising a variety of offshore support vessels and marine transportation vessels," it said.

To date, Coastal Group’s outstanding vessel sales order book was RM1.55 billion, which would last the shipbuilder through 2011.

It expected the revenue stream from the latest deals to contribute positively to the earnings per share and net assets per share from the financial year ending Dec 31, 2009 to end-2011.