GLOBALTEC Formation Bhd, the merged entity of AutoV Corp Bhd, AIC Corp Bhd and Jotech Holdings Bhd, is about to become a full-fledged oil and gas exploration and production company with a focus on unconventional resources.
It is acquiring a 60% stake in New Century Energy Resources Ltd (NCE) for US$100,000 (RM320,000), which will soon be asset owner and operator of three coal bed methane (CBM) concessions in the south and central of Sumatra, Indonesia.
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