Malaysia: more delay to merger between yard duo.
Merger of yard duo sees more delay
Malaysian duo Sime Darby and Ramunia Holdings have agreed to extend the deadline to conclude a merger and acquisition deal from 3 February to 4 April.
Both parties have agreed Ramunia will compensate Sime Darby 83,000 ringgit per day from 4 March until the final agreement date.
The final compensation will be offset from Sime Darby’s acquisition price offered for Ramunia.
The acquisition would reportedly expand Sime Darby’s yard space to a combined 284 acres from the current 114 acres and almost double its fabrication capacity to 105,000 tonnes.
The acquisition is expected to aid Sime Darby’s its bids for fabrication of deep-water structures in the future.
Sime Darby’s existing fabrication yard is in Pasir Gudang 115 kilometres away from Ramunia’s yard.