Chief Executive Officer Datuk Harris Tan said the business expansion to the Sabah mainland is in line with ASB's diversification plan to become a major player in a highly competitive industry.
He said ASB is moving in the right direction to cater to the region's increasingly active oil and gas industry.
"The company also has the capability and competency to support vessels such as fast crew boats, anchor handling tugs and multipurpose vessels.
"Not only that, ASB has all the requirements to contribute to Malaysia's aspiration to be a deepwater hub in this region.
"The prospects for the oil and gas companies in Malaysia are excellent as Petronas as well the oil majors tend to give priority to Malaysian companies who have the technical capability to undertake jobs," he said after hosting a Hari Raya open house for some 5,000 oil and gas players at its base.
ASB's fully integrated logistics hub hosts major international and local oil and gas players, including world renowned services providers Schlumberger and Halliburton.
Harris said the company is embarking on major development projects with more warehouses to be constructed on a 12 ha. piece of land in its base.
"This is also due to the increase in the number of oil and gas players operating in our base," he said.
To attract more players to relocate their operations to Labuan, ASB is also emphasising safety awareness and policy to its clients and employees, he said.
-- BERNAMA