KUALA LUMPUR: Alam Maritim Resources Bhd
(AMRB) will acquire an offshore support vessel (OSV) for RM80.80 million, which will be constructed by Singapore’s POET Shipbuilding & Engineering Pte Ltd.
In a Bursa Malaysia filing today, AMRB said it will make the acquisition from POET through its wholly owned subsidiary, Alam Maritim (M) Sdn Bhd.
"Barring any unforeseen circumstances and subject to all relevant approvals being obtained, the proposed OSV acquisition is expected to be completed by October 2028,” it said.
AMRB said the OSV acquisition will enable the group to own and operate an additional OSV unit, expanding and enhancing its capacity and capabilities to provide subsea services within the oil and gas sector.
"In turn, the enlarged fleet of OSVs is expected to strengthen the group’s ability to undertake a greater number of projects, serve a broader customer base and contribute positively to the group’s future earnings,” it said.
Furthermore, the company said the proposed OSV acquisition is also in line with the group’s business strategy of strengthening its subsea segment, which remains a key driver of the group’s financial performance.
AMRB said that upon completion of the proposed OSV acquisition, the group will operate a total of five OSVs (four of which are under bareboat or time charter), strengthening the group’s market position and competitiveness in securing future projects through increased operational capacity, fleet availability, and enhanced service capability.
"The proposed OSV acquisition is subject to approvals from shareholders at an extraordinary general meeting (EGM) to be convened and any other relevant authorities and/or parties, if required.
"The board is of the opinion that the proposed OSV acquisition is in the best interests of the company and its shareholders as a whole and recommends that you (shareholders) vote in favour of the resolution to be tabled at the EGM,” it said. - Bernama
