Kuala Lumpur: PDZ Holdings is looking to snap up a 20% stake in fellow Malaysian firm Efogen for RM18m in cash, as it finally makes its move into the offshore sector.
"The acquisition represents a first step towards PDZ's plans to grow its present core business in the container liner, shipping and shipping management services business into providing offshore supply vessel services to the oil and gas industries," said PDZ in a release to the Kuala Lumpur Stock Exchange.
Efogen is mainly involved in the chartering of vessels for oil and gas offshore support services, providing geophysical services, trading in related information technology software and hardware apparatus as well as providing consultancy and maintenance services. [15/05/14]
