KUALA LUMPUR: Yinson Holdings Bhd‘s joint venture company, PTSC Asia Pacific Pte Ltd (PTSC AP), has received a six-month extension for the bareboat charter contract with FPSO PTSC Lam Son.
In a statement, it said the JV with PetroVietnam Technical Services Corporation (PTSC) secured the extension as part of the addendum entered into with the client, PTSC, on June 30, 2021.
The extension sets a six-month firm period from July 1, 2021, to Dec 31, 2021, and a six-month option period from Jan 1, 2022 to June 30, 2022, which will be automatically granted if no notice of termination is received.
Yinson said the value of the bareboat charter contract for the six-month option period extension is estimated at USD9mil (RM37.5mil).
TSC AP is 49% and 51% owned by Yinson and PTSC respectively.
“We are pleased to be able to continue our partnership with PTSC to provide high uptime and excellent safety record with FPSO PTSC Lam Son,” said Yinson group CEO Lim Chern Yuan.
Trading in Yinson shares was halted until 10am today. At 10.22am, the counter was trading down 12 sen or 2% at RM5.88 on very low volume.
Source: The Star
