DNeX completes acquisition of 60% stake in Ping Petroleum

Group managing director Tan Sri Syed Zainal Abidin Syed Mohamed Tahir (pic) said the upswing in Brent oil prices to above US$70 (RM290) per barrel level augurs well for its energy segment.

KUALA LUMPUR: Dagang Nexchange Bhd (DNeX) has completed the acquisition of an additional 60% stake in Ping Petroleum Ltd, raising its holdings to 90%.

This makes Ping, an upstream oil and gas (O&G) company, a subsidiary of DNeX Energy Sdn Bhd, a wholly owned subsidiary of DNeX.