PACC Offshore Services Holdings, the offshore services provider, has incorporated JVCo. POSH Saudi Company with Saudi Arabia’s Hmood Al-Khalaf Group as part of its plans to expand its presence in the Middle East.
The Hmood Al-Khalaf Group, led by Sheikh Hmood Al Ali AlKhalaf, is one of Saudi Arabia’s largest agribusiness and marine transportation players, with extensive business interests and investments across the country, the Middle East and in Australasia.
“This expansion into the Middle East is in line with the group’s strategy to further penetrate the Persian Gulf, which has been identified as a key growth market amid ongoing global volatility in the Oil and Gas sector,” says POSH in an SGX filing.
POSH Saudi Company is majority owned by POSH.
POSH already has several vessels, including Platform Supply Vessels and Light Construction Accommodation Vessels, on long-term charters operating with a Saudi Arabian national oil company.
Through the new JV, POSH will further increase its investments and operations in Saudi Arabia.
POSH closed 3.45% higher at 30 cents on Friday.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
The Hmood Al-Khalaf Group, led by Sheikh Hmood Al Ali AlKhalaf, is one of Saudi Arabia’s largest agribusiness and marine transportation players, with extensive business interests and investments across the country, the Middle East and in Australasia.
“This expansion into the Middle East is in line with the group’s strategy to further penetrate the Persian Gulf, which has been identified as a key growth market amid ongoing global volatility in the Oil and Gas sector,” says POSH in an SGX filing.
POSH Saudi Company is majority owned by POSH.
POSH already has several vessels, including Platform Supply Vessels and Light Construction Accommodation Vessels, on long-term charters operating with a Saudi Arabian national oil company.
Through the new JV, POSH will further increase its investments and operations in Saudi Arabia.
POSH closed 3.45% higher at 30 cents on Friday.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
0 comments:
Post a Comment