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.
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
- Alam Maritim Bags $6.8M PETRONAS' Subcontract for PFLNG1 Facility (Jun 02)
- Alam Maritim Lands $13M Contract to Provide Workboat to PETRONAS Carigali (Mar 15)
- Alam Maritim Bags EPCIC Contract from PETRONAS Carigali for TCOT Project (Dec 02)
Company: Vallianz Holdings Ltd. more info
- Vallianz Updates on Swiber's Request for Payment of $63.5M in Arrears (Sep 01)
- Singapore's Troubled Swiber Holdings Opts for Judicial Management (Aug 01)
- Vallianz Secures $210M Contracts to Supply 13 OSVs to ME NOC (May 16)