Bumi Armada Bhd ., an oil field services provider controlled by Malaysian tycoon T. Ananda Krishnan, is considering buying MISC Bhd .’s offshore energy business, according to people with knowledge of the matter. Shares of Bumi Armada are unchanged this year in Kuala Lumpur, giving it a valuation of RM2.9bil. A representative for Bumi Armada didn’t immediately respond to a request seeking comment, while MISC declined to comment. Bumi Armada has been expanding in Asia in areas such as upstream and low-carbon solutions to support its energy transition plans, according to its website. Ananda Krishnan owns 34.6% of Bumi Armada through Objektif Bersatu Sdn.

Source: The Star November 13, 2024 17:14 UTC