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Scomi Marine buys Trans Advantage

Scomi Marine buys Trans Advantage

Kuala Lumpur: Scomi Marine Bhd, an oil and gas services provider, has inked a sale of shares agreement with ANZ Capital Sdn Bhd and Mirapo Sdn Bhd, to acquire a 60% stake in Trans Advantage Sdn Bhd for RM9m.
Scomi Marine in a statement said the proposed acquisition was expected to contribute positively to its earnings and net assets. Following the completion of the acquisition, Trans Advantage will be a wholly-owned subsidiary of Scomi Marine.      
Trans Advantage is involved in the provision of marine transportation services which includes vessel chartering, managing and operating, in relation to the carriage of coal.
Trans Advantage transports coal using panamax vessels and has been appointed to carry 1.5 million tonnes of coal in Malaysia. Last year, the group transported 28 million tonnes of coal globally. [10/05/10]

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