KUCHING: Dayang Enterprise Holdings Bhd said its wholly owned subsidiary, DESB Marine Services Sdn Bhd, has entered into a sale and purchase agreement with Shin Yang Shipyard Sdn Bhd for the construction and purchase of a marine vessel valued at RM117.7 million.
In a filing with Bursa Malaysia, Dayang said the vessel will be a 91-metre maintenance/work vessel, with delivery expected between Jan 2 and Jan 10, 2028. DMSSB is principally engaged in marine vessel chartering services, while Shin Yang Shipyard – owned by Shin Yang Group Bhd – is involved in shipbuilding and ship repair operations.
“The purchase consideration was arrived at on a willing buyer-willing seller basis after taking into account the vessel specifications, construction cost and prevailing market conditions.
“The acquisition will be funded through a combination of internally generated funds and/or bank borrowings. Dayang already has the necessary internal funds to finance the deposit payment and is currently negotiating with the bank for the balance.
The board (of directors) will also carefully consider the financing terms to ensure that Dayang group will not be burdened by any financing cost nor the repayment obligations,” the Miri-based company said.
On risk factors, Dayang noted that the acquisition is subject to construction and delivery risks, as well as potential cost variations arising from variation orders. It added that the board will continue to exercise due care in managing these risks through contractual safeguards and prudent project management.
Dayang said the construction and acquisition of the new vessel form part of the group’s strategy to strengthen its marine fleet and enhance its operational capabilities in supporting offshore maintenance, hook-up and commissioning works.
“Upon completion and deployment, the vessel is expected to contribute positively to the group’s future revenue and earnings and support the group’s ongoing offshore operations,” it added.
In a separate corporate development, Reservoir Link Energy Bhd (RLEB) said its 60 per cent-owned subsidiary, Reservoir Link Solutions Sdn Bhd, has been awarded a contract by Hibiscus Oil & Gas Malaysia Ltd for the PM3 CAA Carbon Capture and Storage (CCS) project – third-party subsurface review and technical assurance.
“The contract entails an independent third-party review and technical assurance on the CCS study, pertaining to subsurface workflow/methodology, data input, assumptions, static and dynamic modelling, technical analysis/interpretation and the final recommended results.
“The recommendations should be complemented with appropriate practical solution and cost-effective methods to mitigate gaps or risks. The contract will be effective for a period of two years from the date of award,” RLEB said in a press release.
RLEB said the award marks the group’s first CCS contract, expanding its technical capabilities and service offerings as it ventures into the rapidly advancing CCS segment, which serves as an important mechanism to curb carbon dioxide emissions through a three-step process involving capture, transportation and permanent storage of carbon dioxide deep underground.
RLEB Executive Deputy Chairman, Thien Chiet Chai, said the group was honoured to be selected by Hibiscus for the strategic CCS initiative.
“This award underscored our expanding subsurface capabilities and reflects our continued commitment to advancing Malaysia’s low-carbon aspirations. CCS is set to become a significant market in the years ahead, and by securing this project, Reservoir Link is well-positioned to capture future opportunities and create long-term value.
“CCS is widely recognised as a critical enabler for emissions reduction, long-term energy security, and the transition towards a more sustainable energy landscape. This contract further reinforces Reservoir Link’s growing role in supporting the development of clean-energy technologies while continuing to deliver high-value solutions to Malaysia’s upstream sector.
“The group remains committed to pursuing strategic opportunities across both conventional oil & gas and emerging low-carbon segments to drive sustainable growth for its shareholders,” he added.
RLEB is an investment holding company, with subsidiaries primarily involved in oil and gas-related services including well perforation, leak repair, testing, wash and cement, as well as wireline services. It also provides improved oil recovery services, laboratory studies, expert interpretative services on flow assurance and formation damage, and sand management services.
More recently, the group has expanded into solar photovoltaic projects for residential, commercial and industrial properties, as well as large-scale solar plants, covering supply and installation of solar mounting systems and related civil, structural, mechanical and electrical engineering works.
