PETALING JAYA: Orkim Bhd has entered into a time charter contract with PETCO Trading Labuan Co Ltd for the provision of marine transportation services.

In a filing with Bursa Malaysia, the vessel chartering company said the contract is valued at approximately RM32 million, assuming the extension options are exercised.

The contract has a tenure of six months, with an option to extend for a further six months at the charterer’s discretion.

Orkim noted that the key risk factors associated with the time charter contract include operational and execution risks related to the provision of marine transportation services.

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