Latest news with #BenalecSdnBhd
New Straits Times
2 days ago
- Business
- New Straits Times
Benalec unit secures TNB fuel coal transport contract
KUALA LUMPUR: Benalec Holdings Bhd said its wholly-owned unit, Benalec Sdn Bhd, has accepted a letter of acceptance (LoA) from TNB Fuel Services Sdn Bhd for a contract involving the transportation of bulk coal. In a filing with Bursa Malaysia on Tuesday, the marine construction firm said the LoA was formally accepted on the same day. "The contract duration is for a principal period of two years, commencing June 6, 2025 and ending June 5, 2027, with an option to extend for one year upon mutual agreement," it said. Under the agreement, Benalec will transport 3.5 million metric tonnes of coal annually during the initial contract period, with TNB Fuel retaining the right to increase the volume by up to 20 per cent. Freight rates under the contract will range from US$4.84 to US$88.75 per metric tonne, with payments made in ringgit based on the exchange rate quoted by Bank Negara Malaysia. Benalec said the contract will not affect its share capital or shareholding structure. "The contract is expected to contribute positively to the company's earnings and net assets for the financial year ending Dec 31, 2025 and subsequently until its completion," it said. It added that no significant risks are anticipated, though the company will continue to monitor and manage any potential risks throughout the project's duration. "The board of directors, having considered all aspects of the contract, is of the view that it is in the best interest of the company," Benalec said.
The Star
2 days ago
- Business
- The Star
Benalec wins coal transport contract from TNB Fuel
PETALING JAYA: Benalec Sdn Bhd, a wholly-owned subsidiary of Benalec Holdings Bhd (Benalec), bagged a contract from TNB Fuel Services Sdn Bhd (TNB Fuel) for the transportation of bulk coal under a contract of affreightment. The deal, awarded under tender TNBF 04/25, covers a two-year period from June 6, 2025, to June 5, 2027, with an optional one-year extension subject to mutual agreement. According to a Bursa filing, Benalec said it will be transporting up to 3.5 million metric tonnes of coal annually, with a flexibility margin of about 20% at the discretion of TNB Fuel. As for the contract price, freight rates will range from US$4.84 to US$88.75 per metric tonne, depending on voyage routes, of which payments will be settled in ringgit based on Bank Negara's exchange rate on the bill of lading date. While the contract carries no impact on Benalec's share capital or structure, it is expected to contribute positively to its earnings and net assets for the financial year ending December 31, 2025 and onwards until the completion of the contract.
