Shipping giant MISC Bhd and oil and gas services provider Bumi Armada Bhd are said to be in early stages of exploring a corporate exercise involving the consolidation of the floating production storage offshore (FPSO) businesses of both companies.
Sources say that the exercise could see MISC inject its FPSO businesses into Bumi Armada in return for shares, a move that could see the Petronas-owned shipping giant owning a substantial stake in the latter.
MISC, which is a subsidiary of Petronas and whose main business is ship owning and other shipping related activities in the oil and gas industry owns six FPSOs, several other assets such as Floating Storage and Offloading (FSO) vessels and a fleet of 118 LNG, chemical and petroleum tankers.
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Sources say that the exercise could see MISC inject its FPSO businesses into Bumi Armada in return for shares, a move that could see the Petronas-owned shipping giant owning a substantial stake in the latter.
MISC, which is a subsidiary of Petronas and whose main business is ship owning and other shipping related activities in the oil and gas industry owns six FPSOs, several other assets such as Floating Storage and Offloading (FSO) vessels and a fleet of 118 LNG, chemical and petroleum tankers.
For Free Signals and other KLSE online updates, click here OR Give A Missed Call : +60350219047 Follow Us On Twitter : www.twitter.com/epicresearchmy Like Us On Facebook : www.facebook.com/EpicResearchMalaysia Need Any Assistance Feel Free To Mail Us at : info@epicresearch.my
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