Eye on stock

OFFSHORE oil and gas player Alam Maritim Bhd could be looking interesting on the back of an allotment of 123 million new shares representing a 15.35% stake of its enlarged share capital to Tan Sri Quek Leng Chan and his associate Paul Poh via their vehicles Associated Land Sdn Bhd and Caprice Capital International Ltd at RM1.35 per share.

The proceeds will be used to acquire a new offshore supply vessel as well as retire some of its debt.