Guangzhou: A Chinese businessman, Chan Baihang has signed a joint venture agreement with TA Ventures, a wholly owned subsidiary of Malaysia’s TAS Offshore Berhad, for the construction of offshore support vessels in China for resale.
Chan Baihang, a Guangdong businessman, owns a number of transportation companies. He will make a financial contribution of 40% while TA Ventures will cover the remaining 60% of the building contract. The estimated total cost of the jv is approximately RM122m. [24/09/14]