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Benalec Holdings buys two vessels for RM20.74m

KUALA LUMPUR: The recently-listed Benalec Holdings Bhd is acquiring two vessels for RM20.74 million.

In a filing to Bursa Malaysia on Thursday, Jan 27, it said that two of its indirect units — Pacific Shipping Ltd and Pacific Link Ltd — had on the same day entered into two memorandum of agreements with Middlesbrough Shipping and Investment Ltd as well as Bolton Shipping and Investment Ltd for the acquisition of the two vessels.

Pacific Shipping and Pacific Link acquired M/V Triumph and M/V Enterprise respectively at RM10.37 million each. Both vessels are registered in the Marshall Islands, and will be used to transport sand.

"The acquisitions are to facilitate the expansion of Benalec Group's fleet of vessels, in particular vessels for transporting of sand for land reclamation activities," it added.
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