PETALING JAYA: Alam Maritim Resources Bhd
has signed a joint venture with Wah Seong Corp Bhd that will see a unit of the latter emerging with a 49% stake in one of Alam’s subsidiaries.
The offshore support vessel (OSV) firm told the stock exchange yesterday that CIMB Private Equity Sdn Bhd’s subsidiary Armada Investment Ltd, which owns 51% of Alam-PE Holdings (L) Inc, had hived off its entire stake to Wah Seong and Alam.
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