SELANGOR: Leading marine transportation company Orkim Bhd’s wholly-owned subsidiary, Orkim Wisdom Sdn Bhd, has entered into a memorandum of agreement (MoA) with Wealth Sail Shipping Pte Ltd to acquire Rich Sunda, an IMO Type II tanker, for US$24.2 million (approximately RM97.0 million).

The acquisition will be funded primarily from the proceeds of the group’s initial public offering (IPO), with the remainder financed through internally generated funds.

Orkim CEO Captain Cheah Sin Bi said the group is pleased to acquire this IMO Type II tanker following a stringent evaluation and selection process, reflecting its disciplined approach to fleet expansion and asset quality.

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