Under the collaboration, Coral Alliance Sdn Bhd also agreed to appoint AsiaBio's subsidiary, AsiaBio Petroleum Sdn Bhd, as its preferred contractor if the project is awarded to Coral. According to its bourse filing today, the business and technology incubator and strategic advisory group said AsiaBio Petroleum has inked a one-year collaboration agreement — which could be extended for a year — to effect the tie-up. Under the contract, AsiaBio Petrolem shall provide mechanical maintenance services, supply of materials and consumables as well as manpower if Coral Alliance awards projects to the company. Coral Alliance, incorporated in Malaysia, is principally involved in the provision of integrated brownfield services, project management, multidiscipline and engineering services to onshore and offshore O&G industries. It is also a company licensed by Petronas or Petroliam Nasional Bhd to supply products and services to exploration and O&G companies.

Source: The Edge Markets November 01, 2016 12:52 UTC