KUALA LUMPUR : Oil and gas services provider Tanjung Offshore Bhd is diversifying into the education sector after acquiring a 67% equity interest in Hills Education Group Sdn Bhd (HEG). In a filing with Bursa Malaysia, Tanjung said that on Sept 15 it acquired 134,000 ordinary shares of RM1 each in HEG for a total cash consideration of RM167,500. The shares were acquired from Arnez Desmond George Fernandez and Imran Asif Abdul Rahim, both directors in HEG. Tanjung explained that the transaction was determined on a willing buyer willing seller basis after taking into consideration the potential business opportunities in education and training development which will be funded using internally generated cash. In a prior filing, Tanjung said that the shareholders of HEG are experienced experts with operational track records in the education industry.

Source: The Star September 20, 2016 00:00 UTC