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1. INTRODUCTION
The Board of Directors of Orkim Berhad (“ORKIM”) wishes to announce that its wholly-owned subsidiary, Orkim Marine Sdn Bhd (“OMSB”), had on 23 February 2026 entered into a Time Charter (“TC”) Contract with PETCO Trading Labuan Company Limited (“PTLCL”).
2. SUMMARY OF KEY TERMS
The principal terms of the Time Charter Contract are as follows:
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Charterer
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PETCO Trading Labuan Company Limited (“PTLCL”)
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Contracting Entity
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Orkim Marine Sdn Bhd (“OMSB”)
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Contract Type
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Time Charter
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Tenor
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Six (6) months firm with an option for a further six (6) months at Charterer’s option
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Estimated Contract Value
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RM 32 million (assuming extension option are exercised)
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3. FINANCIAL EFFECTS
The Time Charter Contract will not have any effect on the issued share capital or substantial shareholdings of ORKIM and is expected to contribute positively to the earnings and net assets of ORKIM over the duration of the Time Charter Contract.
4. RISK FACTORS
The risk factors affecting the Time Charter Contract comprises operational and execution risks associated with the provision of marine transportation services. OMSB shall ensure strict compliance with the relevant safety and operational procedures in the execution of the contract.
5. INTEREST OF DIRECTORS, MAJOR SHAREHOLDERS AND/OR PERSONS CONNECTED TO THEM
None of the Directors, major shareholders of ORKIM, or persons connected with the Directors or major shareholders have any interest, whether direct or indirect, in the Time Charter Contract.
6. DIRECTORS’ STATEMENT
The Board of Directors of ORKIM, having considered all relevant factors, is of the opinion that the execution of the Time Charter Contract is in the best interests of ORKIM.
This announcement is dated 23 February 2026.
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