Straits plans to buy tanker


  • Corporate News
  • Friday, 18 Sep 2020

The group said in a filing with Bursa Malaysia that the purchase consideration is to be satisfied over a period of 36 months from the delivery date

KUALA LUMPUR: Straits Inter Logistics Bhd subdisiary SMF Eden Maritime Ltd has proposed to acquire an oil tanker from Millenium Satu Ltd for US$4.5mil (RM18.6mil) in cash.

The group said in a filing with Bursa Malaysia that the purchase consideration is to be satisfied over a period of 36 months from the delivery date.

According to the filing, the purchase consideration represents a discount of about 1.1% over the market value of the vessel as ascribed by an independent registered valuer.

“The proposed acquisition enables SMF Eden to own a vessel, named MO Satu, of which the acquisition cost is at a discount to its market value.

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