Singapore: Via subsidiary Alstonia Offshore, Pacific Radiance has formed a jv with Malaysia’s Duta Marine to jointly incorporate Duta Radiance Maritim in Malaysia.
Alstonia and Duta Marine respectively will hold 49% and 51% equity interest in the company which has been set up for the purpose of ship owning, operating, management and chartering of marine vessels.
Pacific Radiance has over 130 vessels, including 60 Indonesian flagged vessels through joint ventures and associate companies, and so the jv looks to be a strategic move into the Malaysian offshore sector which has been booming in recent years.
