Singapore-based Kim Heng Offshore and Marine Holdings has announced that its wholly-owned subsidiary, KH Mazu Offshore and Marine, has signed a joint venture agreement with RUHM Marine in Malaysia called RUHM Mazu.
RUHM will own 51 per cent and KH Mazu will own the remaining 49 per cent. The deal includes a vessel valued at US$6 million.
RUHM's marine service vessels provide logistic support for offshore, exploration, drilling and construction to the offshore petroleum and mining industry in Malaysia.