PETALING JAYA: Coastal Contracts Bhd has secured contracts for the sales of one unit Offshore Support Vessel and two other vessels for an aggregate value of RM109.7mil.

       In its filing with Bursa Malaysia, the company said the contracts were secured via its wholly-owned subsidiaries.

       Coastal said the revenue stream from the latest contracts was expected to contribute positively to the group’s earnings for the financial year ending June 30, 2022 (FY22).

       For the first half of FY22, the company posted a net profit of RM33.75mil on revenue of RM127.01mil compared with a net loss of RM75.68 on revenue of RM127.01mil in the corresponding period last year.