KUALA LUMPUR: Malaysian Bulk Carriers Bhd
’s (MBC) indirect wholly-owned subsidiary, Kekal Shipping Pte Ltd, plans to obtain a shareholders’ mandate for the disposal of a bulk carrier, Alam Kekal, for an indicative disposal consideration of US$30 million (RM138.68 million).
In a filing with Bursa Malaysia today, the company said Alam Kekal was one of three vessels ordered by the group in 2016 as part of a portfolio rebalancing exercise and to maintain a modern fleet of more fuel-efficient economical vessels.
"Alam Kekal was the first ship to be delivered from this order and was received by the group in October 2018,” it said.
Meanwhile, MBC also announced that the group has been looking for new strategic business opportunities to diversify its revenue streams to mitigate the risk of overdependence on its core business, which is subject to fluctuations in ship charter rates beyond the group’s control.
"The company entered into a collaboration agreement with Tunas Manja Sdn Bhd to undertake grocery retail business and other grocery retail related businesses,” it added. - Bernama
