4 days ago
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.
