The Board resolution dated December 17, 2019, Superdong Fast Ferry Kien Giang Joint Stock Company approved the following issues

1. Approving to implement contract with Kaibouk Shipyard (M) SDN.BHD for building high- speed ferry project to replace the high- speed ship:

-       Contract value: 2,800,000 USD

-       Settlement time: including 04 phases:

+ Phase 1: 25% contract value after the signing;

+ Phase 2: 25% contract value after booking the ferry;

+ Phase 3: 25% contract value after the main engine and generator are delivered to the ferry plant;

+ Phase 4: 25% remaining contract value completing the test run, inspection and handover of the ferry at the ferry plant.

-       Ferry delivery place: Sibu Port, Sarawak, Malaysia

-       Ferry delivery time: within 12 months from the signing date

-       Warranty: 12 months from the Ferry delivery date.