TAS Offshore Bhd announced that its wholly owned subsidiary has secured shipbuilding contracts for eight units of tugboats with a value of approximately RM49.1 million.

In a filing to Bursa Malaysia, TAS Offshore said the contracts were signed with new customers from Indonesia, with the vessels expected delivery date to be in the second quarter of 2025.

The revenue generated from the contracts is expected to contribute positively to the earnings and net assets of TAS Group for the financial year ending May 31, 2025.