KUALA LUMPUR: Carimin Petroleum Bhd's unit today agreed to acquire an unregistered new build crew boat from Penguin Shipyard Asia Pte Ltd for US$4.96 million (RM23.4 million).
The company in its filing with Bursa Malaysia Securities Bhd said its unit Carimin Resources Services Sdn. Bhd signed a memorandum of agreement with Penguin Shipyard for the purchase today.
Carimin will fund 30 per cent of the purchase price with cash from internally generated funds and 70 per cent from bank borrowings.
Carimin said the acquisition is in line with its expansion plans in providing marine support services for its offshore maintenance and hook-up & commissioning activities.
It will complement the Carimin's vessel fleet operations.
Carimin's share price closed 3.59 per cent higher today to RM1.01, giving it a market capitalisation of RM236.2 million.