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  • 2011 September 19 05:54

    Malaysia's shipbuilder Nam Cheong partners three players for expansion

    Malaysia-based offshore support vessel shipbuilder Nam Cheong on Monday entered into a joint venture agreement with three oil and gas service players to expand its offshore marine services, Seatrade-asia reports.

    The joint venture parties - Nam Cheong Dockyard, Bahtera Niaga Internasional, Carimin and CTNS Marine - will invest approximately RM15.8m to acquire Intact Fleet, a Malaysian privately-owned firm which will be renamed Synergy Kenyalang Offshore.

    Synergy Kenyalang Offshore will own, operate and charter marine vessels to the oil and gas industry, and manage the maintenance of marine vessels and provision of offshore marine services.

    The joint venture firm has also purchased a multi-purpose support vessel from Nam Cheong Dockyard for RM88m.

    “This joint venture is in line with the group's strategic growth plans to strengthen our position in the robust offshore marine industry in Malaysia and the region,” said Leong Seng Keat, executive director at Nam Cheong.
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