Hibiscus Petroleum on acquisition mode

Group managing director Dr Kenneth Pereira (pic) said Hibiscus is targeting to bid for assets in South-East Asia over the next six months with the RM203mil cash it raised from a private placement exercise.

PETALING JAYA: Taking advantage of the current low oil price environment, Hibiscus Petroleum Bhd is eyeing to acquire producing oil fields that can quadruple its production.

Group managing director Dr Kenneth Pereira (pic) said Hibiscus is targeting to bid for assets in South-East Asia over the next six months with the RM203mil cash it raised from a private placement exercise.