KUALA LUMPUR: Orkim Bhd is acquiring an IMO Type II oil and chemical tanker for about RM97 million (US$24.2 million) as part of its fleet expansion and rejuvenation strategy.

In a filing with Bursa Malaysia, the company said its wholly-owned subsidiary, Orkim Wisdom Sdn Bhd, had entered into a memorandum of agreement (MoA) with Singapore-based Wealth Sail Shipping Pte Ltd for the purchase of the vessel, Rich Sunda.

Orkim said the acquisition is in line with its ongoing fleet expansion strategy and fleet rejuvenation programme.

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