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Nepline Berhad has entered into a memorandum of agreement with Midway Flex
Sdn Bhd for the acquisition of Tuah tankers Lima for a total cash
consideration of RM8.5 million.
The acquisition will be funded by bank borrowings.
The acquisition follows the Company securing a contract from an oil major
company for the shipment of petroleum products.
The Vessel has a Gross Registered Tonnage of 2,298 metric tonnes and is a
single hull American Bureau of Shipping classed, and Malaysian-flagged clean
product tanker built in 1989 by Malaysia Shipyard & Engineering Sdn Bhd.
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