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Publish Date : 21-Sep-2012

Mainboard-listed Federal International said on Thursday that a consortium, which includes its subsidiary\'s joint-venture company, had secured a charter contract to supply a floating storage offloading (FSO) vessel.

The contract, won via a tender exercise, is for five years and renewable for another five more, said the oil and gas flowline products distributor in a stock filing to SGX.

Marine transportation service provider PT Eastern Jason is a 30:70 joint-venture company between Eastern Jason Fabrication Services (a subsidiary of Federal) and PT Pratama Unggul Lestari. The consortium includes other parties, too.

Federal said the contract is not expected to have a material impact on its earnings per share and net tangible assets per share for the financial year ending Dec 31, 2012.

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