KUALA LUMPUR, September 3, 2008 – The capabilities and expertise of the Malaysian maritime industry can be further enhanced via strategic alliances and collaborative efforts amongst industry participants.

One such strategic alliance was sealed today with the signing of a contract between Boustead Penang Shipyard Sdn Bhd, a wholly-owned subsidiary of Boustead Heavy Industries Corporation Berhad (BHIC), and Sealink Shipyard Sdn Bhd, which is a wholly-owned subsidiary of Miri-based Sealink International Berhad (Sealink).

Valued at a total of RM62 million, the agreement will see Sealink constructing the hulls for two 111-metre accommodation work barges for Singapore-based Swire Pacific Offshore Operations Pte. Ltd. The construction of these hulls will take place at Sealink’s shipyard in Miri and are expected to be completed by the second half of 2009.

YBhg. Laksamana Madya (B) Dato’ Seri Ahmad Ramli Haji Mohd Nor, Executive Deputy Chairman of BHIC, said, “By working together with our fellow industry participants in Malaysia, we are able to expedite the transfer of technology, enhance our collective capabilities, increase economies of scale as well as build a positive track record for our country’s shipbuilding and maritime industry as a whole.”

According to YBhg. Laksamana Madya (B) Dato’ Seri Ahmad Ramli, this is one of the several strategic alliances between Sealink and BHIC. “BHIC is currently constructing a total of four vessels including two 7000 dead weight tonne (DWT) oil and chemical carriers and two anchor handling tug vessels for Sealink.”

“By leveraging on our specific strength, expertise and facilities, BHIC and Sealink are able to offer our customers greater efficiencies and effectiveness in meeting their needs,” he concluded.

Mr Yong Kiam Sam, Chief Executive Officer, Sealink International Berhad, said, “We are indeed pleased to be a strategic partner with BHIC, a long established player in the country’s shipbuilding industry.

“While the maritime industry continues to benefit from the boom in the oil and gas sector, the operating environment is still highly competitive. Hence, by pooling our resources via strategic alliances, we are able to offer our customers greater value, which in turn bodes well for industry participants like us,” he concluded.

The construction of the two accommodation barges for Swire Pacific Offshore Operations was awarded to BHIC in May 2008 at the contract price of RM205 million. Excluding the hulls, BHIC will construct the remaining parts of the barges at its shipyard in Pulau Jerejak, Penang.

About BHIC
Boustead Heavy Industries Corporation Berhad (BHIC), listed on the Main Board of Bursa Malaysia, is a subsidiary of Boustead Holdings Berhad. Boustead Holdings Berhad is a subsidiary of the Armed Forces’ Funds (Lembaga Tabung Angkatan Tentera).

The Boustead Heavy Industries Group is involved in maritime, defence and heavy engineering activities, with shipyards located in Lumut, Pulau Pinang, Langkawi and Ghana.

About Sealink
Sealink International Berhad is an integrated service provider in the offshore oil and gas industry. Established in 1974, Sealink’s current core business revolves around vessel chartering and shipbuilding, mainly for the industry.


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