Malaysia Marine and Heavy Engineering Bhd (MHB) is believed to be looking at taking over some or all of the oil and gas assets of conglomerate Sime Darby Bhd.The report said MHB, the heavy engineering unit of Malaysia's state oil firm Petronas , has been evaluating the assets for the past several months but that the plan was still in the preliminary stage.
Among the oil and gas (O&G) assets owned by Sime Darby are two fabrication yards located in Pasir Gudang and Teluk Ramunia in the country's southern Johor state bordering Singapore.
"MHB has been asked by its parent, Petronas, to increase its asset base, as more O&G jobs are being rolled out," the report quoted an unnamed source as saying.
At least two other oil and gas firms are also eyeing the assets, the source added.
The report said MMHE's management denied having entered into any discussions with Sime Darby for the purchase of its oil and gas assets. - Reuters