The Board of Directors of TAS Offshore Berhad is pleased to announced that its wholly-owned subsidiary has secured shipbuilding contracts for eight units of tugboat with value of approximately RM49.1 million.

The contracts were signed with new customers from Indonesia. These vessels are expected to be delivered in the second quarter of 2025.

The revenue generated from the contracts is expected to contribute positively to the earnings and net assets of TAS Group for financial year ending 31 May 2025.

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 23 October 2024.