KUALA LUMPUR (Oct 29): Perdana Neptune Ltd, a wholly-owned unit of Perdana Petroleum Bhd, has sold one of its offshore support vessels to Hauston Limited, for US$28.5 million (RM93.5 million).

In a Bursa Malaysia filing this evening, Perdana Petroleum said the disposal was part of the fleet renewal programme, and the vessel is expected to be delivered before the end of November.

"The gain on the disposal is approximately RM1 million and the proceeds will be channeled to the group to meet its operating expenses, repayment of bank borrowings and funding new acquisition of assets," it said.

The net book value of the vessel as at Oct 31, 2014 is RM92 million and the original cost of investment was RM108 million.  

Perdana Petroleum closed unchanged at RM1.68, with a market capitalisation of RM1.24 billion.