Alam Maritim, Vallianz Form JV Firm to Expand OSV Business in Malaysia

Malaysia's Alam Maritim Resources Berhad announced Monday that its wholly owned subsidiary, Alam Maritim Investment Holdings (L) Inc. (AMIH) had entered into a Shareholders’ Agreement Jan. 5 with Singapore-based Vallianz International Pte Ltd (VIPL), wholly-owned unit of offshore support vessel provider Vallianz Holdings Limited to establish a joint venture company in Malaysia.  

The joint venture firm known as Deepsea Leader Venture (L) Inc. had been incorporated in Labuan, East Malaysia.

The business focus of Deepsea will be on owning offshore support vessels operating in Malaysia’s upstream oil and gas market and any other incidental activities or work, Alam Maritim said in an announcement on local stock exchange Bursa Malaysia.

Deepsea has an issued and paid up capital of $100 comprising 100 ordinary shares having a par value of $1 each, with AMIH holding 51 percent stake and the remainder held by VIPL.

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