KUCHING: TAS Offshore Bhd’s (TAS Offshore) earnings prospect for the near term remains intact.
RHB Research Sdn Bhd (RHB Research) in a report yesterday remained upbeat on TAS’ recent sale of vessels to one of its new customers in the Middle East while contribution for the contract would sustain the earnings for the company over the next two years.
The research firm believes that the sales value of the vessels is within its order book replenishment assumption for TAS Offshore in financial year 2015 (FY15), thus maintaining its earnings forecast for the company.
Meanwhile, the group in a filing to Bursa Malaysia on Jan 27 said its wholly-owned subsidiary has secured contracts for the sale of one unit of offshore construction vessel and two units of anchor handling tug supply vessels with total value of RM143.24 million.
The company said the vessels were sold to one of its new foreign customers.
TAS Offshore added the revenue generated from the contract is expected to contribute positively to the earnings and net assets of TAS Group for financial year ending May 31, 2015 and 2016.