Stronger footing: Yee (left) and MISC chairman Datuk Ab. Halim Mohyiddin at the company’s AGM. According to Yee, the prolonged low oil prices environment could result in FPSO owners putting some of their assets up for sale and that these may be assets which have term-charter contracts in place.
KUALA LUMPUR: MISC Bhd
is looking to acquire distressed floating, production, storage and off-loading (FPSO) assets as the shipping company is now on stronger financial footing.
According to MISC president and chief executive officer Yee Yang Chien, the prolonged low oil prices environment could result in FPSO owners putting some of their assets up for sale and that these may be assets which have term-charter contracts in place.
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