Jasa Merin buys 2 anchor handling tug supply vessels

Kuala Lumpur: Jasa Merin (Malaysia) has agreed to buy two anchor handling tug supply vessels from Muhibbah Marine Engineering for around RM219m ($65.8m).

The two 70-metre-long vessels are expected to be delivered by the end of the second quarter of 2015.

The companies signed an agreement for the acquisition on October 30.

Jasa Merin (Malaysia) is 70% owned by Malaysia-listed Silk Holdings. This vessel acquisition is in line with Silk Holdings’ ongoing fleet-renewal and expansion initiative, the group said in an exchange filing on October 31. 

The purchase consideration will be funded through a combination of internal funds and borrowings, Silk Holdings said. [10/11/14]

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