Cape, OLIO Forms JV to Tap Business Opportunities in Malaysia

UK-based Cape plc, a provider of critical industrial services to the energy and natural resources sectors, formed a joint venture with OLIO Resources Sdn Bhd to tap business opportunities in the Malaysian market.

The partnership will "bring together the capacity, experience and skills of both organizations in order to serve the Malaysian market," Cape said in a press release Wednesday.

OLIO, established in 1995 by a group of Malaysian entrepreneurs with a combined experience of over 100 years in the oil and gas industry, offers a range of products and services to the oil, gas and energy industries.

“We are pleased to enter into this joint venture with OLIO to establish a company dedicated to the Oil and Gas services market inside Malaysia and look forward to a long standing successful bond between both companies,” Joe Oatley, chief executive of Cape said in the press release, while OLIO Executive Chairman Ramli Md Nor added that "we are very excited about this partnership between OLIO and Cape which we believe will form an important part of our vision to become a leading solutions provider to the Oil, Gas and Energy market in the region”.