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Alam Maritim making foray into subsea market with iv

Malaysian offshore services provider Alam Maritim Resources is planning to diversify into subsea services, including a complete work programme of underwater, structural and topside inspection, repair and maintenance, particularly in the international markets through a joint venture company.

Alam Maritim said in a stock market announcement that its Alam Hidro (AH) unit has formed a joint venture with AME Subsea (AME) called Subsea Worldwide Solutions.

“In line with the agreement, AH and AME have incorporated a joint venture company known as Subsea Worldwide Solutions (SWS),” Alam Maritim said.

SWS is expected to contribute positively to the earnings and net tangible assets of the company for the year ending Dec 31, 2018 and beyond.

Read More: Mermaid Maritime has positive outlook for 2018 amid tight margins

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