KUALA LUMPUR, July 20 (Bernama) -- Alam Maritim Resources Bhd (AMRB), expects its overseas operations to contribute another 3 to 5 percent to its total revenue this year.

Speaking to reporters after the company's listing on the main board of Bursa Malaysia Securities Bhd here Thursday, managing director, Azmi Ahmad, said overseas operations contributed about 12 percent to the company's revenue in 2005.

"Over the next few years we will be looking into expanding our existing business in West Asia as well as reinforcing our presence in Indonesia and Russia.

"We also aim to explore new opportunities in Vietnam, Brunei and South Africa," he said.

Azmi said that AMRB was on track to achieve its forecast consolidated revenue of RM179.45 million and pre-tax profit of RM72.40 million for the financial year ending December 31, 2006.

For the first six months ended June 30, 2006, AMRB posted a pre-tax profit of RM45.40 million on the back of RM101.87 million in revenue.

AMRB made a strong debut today. It opened at RM2, or 35 sen above its offer price of RM1.65.

At the opening bell, there were 1.09 million shares done. Within the first half hour, there were 5.23 million shares transacted at prices ranging from RM1.88 to RM2.05.

AMRB is involved in the provision of marine support services in the oil and gas exploration and production sector.