KUALA LUMPUR (March 30): Orkim Bhd’s (KL: ORKIM) wholly-owned subsidiary, Orkim Wisdom Sdn Bhd, has signed a memorandum of agreement with Wealth Sail Shipping Pte Ltd to acquire Rich Sunda, an IMO Type II tanker, for US$24.2 million (RM97.0 million).

In a filing with Bursa Malaysia on Monday, the leading Malaysian tanker operator said the proposed acquisition would see Orkim Wisdom acquire the vessel free from all debts, encumbrances, mortgages and maritime liens.

The seller would also indemnify the buyer against any claims arising from liabilities incurred prior to delivery, and the company will conduct physical inspections and reviews of the vessel to ensure operational efficiency before completion.

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