Ahmad Zaki Resources Bhd acquires 51% equity in Matrix Sdn Bhd for RM55 million

Ahmad Zaki Resources Bhd acquires 51% equity in Matrix Sdn Bhd for RM55 million

KUALA LUMPUR, Nov 25 — Ahmad Zaki Resources Bhd (AZRB) has acquired a 51 per cent equity interest in Matrix Sdn Bhd (MRSB) for RM55 million.

With the acquisition, MRSB becomes a subsidiary of AZRB Group.

MRSB is the owner of TB Supply Base Sdn Bhd (TBSB) which is the operator of the Tok Bali Supply Base in Kelantan.

The supply base is well-positioned to offer integrated logistics services to Production Sharing Contractors (PSC) and oil and gas service companies operating in the North Malay Basin, Malaysia-Thailand Joint Development Area and Commercial Arrangement Area between Malaysia and Vietnam.

AZRB Group Managing Director Datuk Wan Zakariah Wan Muda said over the next five years, AZRB plans to embark on a capital expenditure programme amounting to RM100 million for the Tok Bali Supply Base.

“This includes equipping the supply base with all the critical equipment and services to meet the requirements of the PSC and service companies,” he added.

— BERNAMA

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