Malaysia's UEM eyeing Indonesian oil, gas logistics
Saturday, April 1 2006 - 12:20 AM WIB
Malaysia's UEM World Bhd is set to become a regional logistics player after buying a total of 62.2% equity interest in freight forwarding company, Gapima Sdn Bhd, malaysia Star reported Saturday.
UEM World's parent, United Engineers (M) Bhd, holds a direct interest of 37.3% in Gapima.
Gapima seeks to expand its services into Indonesia's oil and gas sector via joint ventures to widen revenue base.
It recently signed a memorandum of understanding with an Indonesian government-linked company, PT Berdikari Logistic, to expand its services to Indonesia.
Besides freight forwarding, it is also involved in warehouse and distribution activities, and the provision of offshore support logistics services.
It is also expanding into marine logistics in the oil and gas sector.(*)