Per­dana Petroleum can­cels ves­sel pur­chase

The Sun (Malaysia) - - SUNBIZ -

PE­TAL­ING JAYA: Per­dana Petroleum Bhd’s (PPB) whol­ly­owned sub­sidiary Pe­tra Off­shore Ltd (POL) has can­celled its ac­qui­si­tion of a ves­sel from Nam Cheong In­ter­na­tional Ltd (NCIL).

“POL has sent no­ti­fi­ca­tion to NCIL of the can­cel­la­tion of the mem­o­ran­dum of agree­ment (MoA) on the ac­qui­si­tion of ac­com­mo­da­tion work­barge iden­ti­fied as Ves­sel Hull No. SK 317 as NCIL has not ful­filled the con­di­tion of de­liv­ery of the ves­sel in ac­cor­dance with the terms and con­di­tions of the MoA,” Per­dana Petroleum said in a stock ex­change fil­ing yes­ter­day.

Ac­cord­ingly, POL has sought the im­me­di­ate re­turn of the de­posit paid of US$8.4 mil­lion (RM37 mil­lion).

PPB on June 25, 2014 an­nounced the pro­posed ac­qui­si­tion of two units of 500men ac­com­mo­da­tion work­barges, iden­ti­fied as Ves­sel Hull No. SK 316 and SK 317 from NCIL for US$84 mil­lion.

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