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Flash Note – Perdana Petroleum (ADD, maintain) - Acquiring 2 accommodation work barges for RM180m




Affin Hwang Investment Bank Bhd


23 Apr 2013





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Acquiring 2 accommodation work barges for RM180m Perdana Petroleum announced that the group had on 22 April 2013 entered into a memorandum of agreement with Nam Cheong International Ltd for the acquisition of 2 units of 100m accommodation work barges at a cash consideration of US$29.5m (approximately RM90m) each. Perdana will pay 20% of the total purchase consideration (US$11.8m) on or before 25 April 2013 and the balance (US$47.2m) upon delivery of the vessels in 1H2014.

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