August 29, 2016
KUALA LUMPUR, Coastal Contracts Bhd is optimistic of completing the US$20.8 million (US$1=RM4.04) purchase of a 49 per cent stake in Indonesia's PT Jaya Samudra Karunia Gas (JSK Group) in the fourth quarter of 2016.
With its completion, the leading offshore support vessels (OSV) fabricator stands to further strengthen its growth in Indonesia's liquefied natural gas (LNG) regasification and storage services market, it said in a statement today.
Coastal Contracts had on July 30, entered into a Memorandum of Understanding (MOU) with JSK Gas and various vendors to formalise the acquisition.
Source : Bernama