KUALA LUMPUR: Bumi Armada Bhd
and MISC Bhd have mutually agreed not to proceed with their proposed merger, with the memorandum of understanding (MoU) between the two parties set to lapse on Aug 14, 2025.
In a filing with Bursa Malaysia today, Bumi Armada said it will continue to pursue strategic growth opportunities, supported by its robust financial position.
It was reported that Bumi Armada had inked an MoU with MISC on Nov 14, 2024 to explore a prospective merger with MISC’s offshore business via an all-shares transaction.
The partnership was announced to create a Malaysia-based, sector-focused entity that will utilise the combined talent pool, project development and engineering capabilities, along with the expertise of both MISC’s offshore business and Bumi Armada.
The MoU was effective for nine months from the date of signing, until the execution of definitive agreement(s) or termination of the MoU, whichever occurred earlier, unless otherwise agreed by the parties. - Bernama
