KUALA LUMPUR (March 30): Orkim Bhd (KL: ORKIM) said it is acquiring an oil and chemical tanker for US$24.2 million (RM97 million) as part of an ongoing fleet expansion strategy and fleet rejuvenation programme.

In a filing with Bursa Malaysia, the group said its unit Orkim Wisdom Sdn Bhd had signed a memorandum of agreement with Singapore-based Wealth Sail Shipping Pte Ltd to acquire the vessel.

Wealth Sail Shipping is principally engaged in the business of shipping, including the chartering of ships and boats with crew.

For more details, visit the full article here.