The investment in the JV company is expected to enhance Kim Heng’s business potential in Malaysia and represents a further expansion by the group of its offshore marine business in the country.
Kim Heng’s (SGX:5G2
) wholly-owned subsidiary Kim Heng (SGX:5G2) Agency has entered into a joint venture (JV) agreement on Jan 17 with RUHM Holdings and Wardatul Wahdah Binti Ahmad Nokman to subscribe for shares in a JV company.
Kim Heng Agency has subscribed to 49% of the RM100,000 ($28,378) issued and paid-up capital of the Malaysia-incorporated JV company, Mazu Offshore, with RUHM and Wahdah subscribing to 31% and 20%, respectively.
