Benalec Sdn Bhd, a subsidiary of Benalec Holdings Bhd, has secured a contract from TNB Fuel Services Sdn Bhd for bulk coal transport services.
The marine construction firm informed Bursa Malaysia that it has received a formal letter of acceptance (LoA) for the contract.
Benalec said the two-year contract from June 6, 2025 to June 5, 2027, with an option to extend by one year, involves the transport of 3.5 million metric tonnes of coal, which can be increased by up to 20 percent at TNB Fuel's option.
Benalec said the contract will make a positive contribution to the company's earnings and net assets for the financial year ending December 31, 2025, without affecting its share capital or holding structure.
The company also explained that no significant risks are expected from the contract, but close monitoring will continue.
The freight rates range from $4.84 to $88.75 per metric tonne, paid in ringgit based on the exchange rate set by Bank Negara Malaysia (BNM).
