Will be moving up very soon... ALAM has bagged a RM34m contract by a "reputable contractor" to provide offshore construction subcontract work for a floating production, storage and offloading unit called Perisai Kamelia.
This contract already announced on 9th march 2017 from Perisai Kamelia. Please advise additional rm34mil. Please dont placed Misleading informations. This can lead to wrong decision making.
Marine transportation support services provider *Alam Maritim Resources Bhd* has bagged a RM26.09m job to supply a 40-tonne utility boat for the Terengganu Crude Oil Terminal Operation in Kerteh, Malaysia. (Financial Daily)
OTHERS ASSISTANCE TO MEDIATE BY THE CORPORATE DEBT RESTRUCTURING COMMITTEE (CDRC) OF BANK NEGARA MALAYSIA)
ALAM MARITIM RESOURCES BERHAD
Type Announcement Subject OTHERS Description ASSISTANCE TO MEDIATE BY THE CORPORATE DEBT RESTRUCTURING COMMITTEE (CDRC) OF BANK NEGARA MALAYSIA) The Board of Directors of Alam Maritim Resources Berhad ("ALAM” or "the Company") wishes to announce that the Company had received a letter dated 24 May 2017 (“the Letter”) issued by the Corporate Debt Restructuring Committee (“CDRC”) of Bank Negara, approving the Company’s application for assistance to mediate between the Company and certain of its subsidiaries, joint-venture companies and associated companies (collectively, the “Affected Companies”) and its respective financiers/Sukuk-holders.
This is part of the Company’s proactive effort in managing its asset financing structure to safeguard the Affected Companies, whose core businesses are still viable, from any potential financial distress which may elicit a cross-default in other financing facilities and Sukuk. The Company has received the approval from the CDRC on 25 May 2017 (“CDRC Approval Letter”) subject to the following conditions:
AMRB is required to submit a Proposed Debt Restructuring Scheme within 60 days from the date of the CDRC Approval Letter; AMRB’s admission is limited to 12 months or upon signing of a debt restructuring agreement, whichever is earlier; and The Proposed Debt Restructuring Scheme must comply with the CDRC’s restructuring principles for AMRB to continue to remain under the Informal Standstill Arrangement with the respective financiers. The Standstill Letter was issued by CDRC to the financiers of the Affected Companies as well as the trustee to the Company’s Sukuk-holders (collectively, the “Financiers”) on 25 May 2017. The CDRC, which is under the purview of Bank Negara Malaysia, will mediate between the Affected Companies and their respective Financiers to restructure their respective financing facilities to a reasonable rate and within a practical tenure while preserving liquidity in the face of this challenging period for the oil and gas industry in line with the above conditions.
Notwithstanding the above, the operation of the Affected Companies shall remain as usual.
Further announcements will be made in due course as and when appropriate.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
ijok
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Posted by ijok > 2017-04-03 18:41 | Report Abuse
so within the past one month, Alam have received 3 contracts