The three-year contract - with two options for one year extensions - will see TLO building a number of offshore platforms and pipelines along the coasts of Peninsular and East Malaysia. TLO will also install sub-sea cables for power and telecommunications.

Crest executive vice chairman Datuk Shahril Shamsuddin, was understandably pleased that his company managed to land the deal: "This contract underlines our efforts to further focus our operations in our core areas of business and raise the bar on quality, expertise and technological excellence," said Shahril.

"This contract marks an important milestone for us as we continue our plans for growth across the greater ASEAN region,"

The contract represents a big coup for Crest as the market had been expecting the company to secure only up to half the tender it first bid for in August 2003. The other party that was reportedly in the running for the contract was Petra Perdana Bhd.

Shamsuddin added that the company was also looking at further acquisition options to fuel future growth.