KUALA LUMPUR: Yinson Holdings Bhd
‘s three way partnership firm, PTSC Asia Pacific Pte Ltd (PTSC AP), has obtained a six-month extension for the bareboat constitution contract with FPSO PTSC Lam Son.
In a press release, it mentioned the JV with PetroVietnam Technical Services Corporation (PTSC) secured the extension as a part of the addendum entered into with the shopper, PTSC, on June 30, 2021.
The extension units a six-month agency interval from July 1, 2021, to Dec 31, 2021, and a six-month choice interval from Jan 1, 2022 to June 30, 2022, which will probably be robotically granted if no discover of termination is obtained.
Yinson mentioned the worth of the bareboat constitution contract for the six-month choice interval extension is estimated at USD9mil (RM37.5mil).
TSC AP is 49% and 51% owned by Yinson and PTSC respectively.
“We are happy to have the ability to proceed our partnership with PTSC to supply excessive uptime and wonderful security file with FPSO PTSC Lam Son,” mentioned Yinson group CEO Lim Chern Yuan.
Trading in Yinson shares was halted till 10am right now. At 10.22am, the counter was buying and selling down 12 sen or 2% at RM5.88 on very low quantity.
