KUALA LUMPUR: PUNCAK NIAGA HOLDINGS BHD [] plans to invest US$59 million (RM180 million) to acquire two companies as it moves into the oil and gas (O&G) sector.
It said on Monday, June 27, the acquisition of the two companies was part of its strategy to focus on the O&G sector.
The acquisition would also fit in with its plan to transform itself from being a water concessionaire into an emerging, and increasingly significant, O&G player.
The Edge FinancialDaily had reported on June 8 that Puncak was in talks with Paris-based Bourbon SA, a large company which provides offshore O&G marine services, for the former to be Bourbon's agent for Southeast Asia.
It said on Monday, June 27, the acquisition of the two companies was part of its strategy to focus on the O&G sector.
The acquisition would also fit in with its plan to transform itself from being a water concessionaire into an emerging, and increasingly significant, O&G player.
The Edge FinancialDaily had reported on June 8 that Puncak was in talks with Paris-based Bourbon SA, a large company which provides offshore O&G marine services, for the former to be Bourbon's agent for Southeast Asia.
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