Wah Seong said Nacap would provide horizontal directional drilling services in the oil and gas industry throughout mainland China. Pending a change in name, Nacap is now known as China Pipe Coating Services Ltd.
Wah Seong China is Wah Seong's 80 percent-owned sub-subsidiary in the oil and gas infrastructure service industry, while Asia Pipeline is owned by NACAP Asia Pacific Sdn Bhd that is involved in the installation of oil and gas pipelines and telecommunications.
"The investment in Nacap is synergistic to the existing businesses of Wah Seong China and will serve as the vehicle for all existing and future horizontal directional drilling services within the Chinese market, which holds tremendous potential," said Wah Seong managing director Chan Cheu Leung.
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