The Board of Directors of TAS Offshore Berhad ("TAS") is pleased to announce that its wholly-owned subsidiary has secured shipbuilding contracts for two units of tugboat with a total value of approximately RM15.3 million.

The contracts were signed with an existing customer from Indonesia. These vessels are expected to be delivered in the third quarter of 2025.

The revenue generated from the contract is expected to contribute positively to the earnings and net assets of TAS Group for the financial year ending 31 May 2026.

None of the Directors and/or major shareholders of TAS Offshore Berhad or persons connected to them have any interest, direct or indirect, in the above contracts.

This announcement is dated 2 April 2024.