Perisai Petroleum acquires RM23m O&G vessel

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KUALA LUMPUR (Mar 14): Perisai Petroleum Teknologi Bhd has acquired an anchor handling tug vessel for US$7 million (RM23 million) from Lewek Robin Shipping Pte Ltd.

In a filing with the stock exchange, Perisai said its indirect 51% controlled subsidiary Intan Offshore (L) Ltd had today entered into a memorandum of agreement with Lewek Robin Shipping to acquire the vessel, the Lewek Robin.

Perisai said the acquisition would be funded partially by external borrowings of US$4.55 million (RM15 million), with the remaining US$2.45 million (RM8 million) on seller’s credit.

The seller’s credit is assigned to Lewek Robin Shipping’s related company, Emas Offshore (M) Sdn Bhd.

The firm said Emas Offshore would charter the Lewek Robin from Intan Offshore at a rate of US$2,600 (RM8,530) per day. The duration would be up to the point of full repayment of the loan.

Perisai said it expected the acquisition to be completed in the second quarter of this year.

“The Perisai group is expected to benefit positively from the acquisition of Lewek Robin as she will continue her charter with Emas Offshore," said Perisai.

“The acquisition will broaden the Intan Offshore group’s asset offering and will provide greater economies of scale to the marine operations of the Intan Offshore group."