KUALA LUMPUR: Lianson Fleet Group Bhd's indirect joint venture, Nusantara Maritime Sdn Bhd, has entered into a memorandum of agreement to acquire a vessel, MT High Tide, from a company incorporated in Ireland, for US$28.45mil (RM111.85mil) cash.
According to the group's filing with Bursa Malaysia, MT High Tide is a 183.31m chemical tanker with a deadweight tonnage of 49,999 tonnes.
The acquisition is proposed to be funded through a combination of shareholders’ equity and debt financing at the Nusantara Maritime level.
Lianson Fleet said the acquisition meets its broader strategic objective of diversifying its marine asset portfolio and building a presence in complementary maritime verticals that offer differentiated earnings profiled and are driven by distinct demand cycles.
"The proposed investment and vessel Acquisition enable LFG to participate in MR tanker ownership alongside experienced joint venture partners with established track records in international vessel acquisition, commercial deployment and technical management.
"This collaborative structure allows LFG to mitigate execution, operational and market entry risks, while maintaining a disciplined and proportionate capital commitment that preserves financial flexibility for investments in LFG’s principal business segments."
