Jasa Merin Secures PSV Contract Extension from ExxonMobil

July 30, 2013

SILK Holdings Bhd (SILK) announced that its subsidiary, Jasa Merin (Malaysia) Sdn Bhd, had accepted the award of contract extension by ExxonMobil Exploration and Production Malaysia Inc. for the provision of one (1) Platform Supply Vessel (PSV).

The contract which commenced on 3 August 2012, had a primary period of one (1) year and is to be extended for another year commencing 3 August 2013.

The contract extension valued in total at approximately RM11.68 million is expected to contribute positively to SILK Group earnings and assets for the financial year ending 31 July 2014.

The supply vessels owned by Jasa Merin are designed for the transportation of supplies to and from offshore installations. This involves the transportation of items in containers or dry bulk cargo such as cement and pipes on deck. A variety of different products, especially fluids such as methanol, pre-blended drill fluids, brine, water and oil, are stored below deck in segregated storage compartments with individual pumps and hoses for discharging.

SILK, July 30, 2013