Ramunia Takeover Oilfab Yard?

Woot..Last time I thought they gonna be in Sandakan, which is nice to say to support Sabah Oil & Gas industry. Are they gonna operates both yards? Jadi ke xjadi kat Sabah ni bah?

PETALING JAYA: Oilcorp Bhd, via its 51%-owned indirect subsidiary Oilfab Sdn Bhd, has accepted an offer from Ramunia Holdings Bhd to acquire the Pulau Indah Integrated Fabrication Yard for RM83.8mil.
In a note to Bursa Malaysia yesterday, Ramunia said the acquisition would give it access to a fabrication yard that was duly equipped with ready infrastructure that would allow the company to commence operations immediately if need be.
“Notwithstanding the disposal of the Teluk Ramunia fabrication yard which was completed in April 2010, Ramunia intends to continue its decade-long history of fabricating offshore structures for the oil and gas industry at a strategically located and proven location.
“The proposed acquisition will also provide us an immediate opportunity to participate in fabrication contracts as recently announced by the Malaysian Government as part of the Economic Transformation Programme for the oil and gas sector,” it said.
Ramunia said the acquisition would bode well for the company in its effort to maintain its position as a key player in this closed-market segment where current barrier to entry was high. “Moving forward, the proposed acquisition is expected to contribute positively to the future earnings of the company.”

Taken from The Star