The Kuala Lumpur-listed outfit announced this week aMYR 38m($12m) contract to build an anchor handling tug supply vessel (AHTS) for an Indonesian owner, taking its orderbook to a new high just beyondthe MYR 400m mark in the process.
Oil and gas production is thriving in Indonesia and demandfor offshore support vessels, especially anchor handlers, is on the rise.
The country’s protective cabotage laws have only added tothe supply squeeze by forcing non-compliant vessels out of the market.
Analysts
