Friday, December 16, 2011

Wah Seong sets up Singapore JV, eyes regional pipe, engineering biz

KUALA LUMPUR (Dec 16): WAH SEONG CORPORATION BHD [] and Insituform BV have set up a joint venture company in Singapore to target pipelines business and also provide onshore corrosion protection services in Southeast Asia and Australia.

Wah Seong said on Friday the new joint venture company WCU Corrosion Technologies Pte. Ltd would seek businesses in lining new and existing pipelines and passageways with corrosion and abrasion resistant polyethylene pipe.

WCU would also look into onshore corrosion protection services, including engineering services, CONSTRUCTION [], installation, inspection, monitoring and maintenance and related product sales.

It said WCU had an initial issued and paid-up of US$1,000 comprising 100 ordinary shares held by WC Singapore (51%) and Insituform BV (49%) respectively.

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