KUALA LUMPUR (Apr 3) : SARAWAK OIL PALMS BHD [] (SOPB) is diversifying into the shipping business following a joint venture (JV) agreement with Shin Yang Shipping Corp Bhd.
In a statement to Bursa Malaysia on Tuesday, SOPB said the collaboration will allow the firm to participate in the edible oil shipment business, and at the same time, offer logistics support to the PLANTATION [] entity.
SOPB and Shin Yang have set up a JV firm where both firms will hold 45% and 55% respectively.
Both firms have common shareholders, hence, the collaboration is a related-party transaction.
In a statement to Bursa Malaysia on Tuesday, SOPB said the collaboration will allow the firm to participate in the edible oil shipment business, and at the same time, offer logistics support to the PLANTATION [] entity.
SOPB and Shin Yang have set up a JV firm where both firms will hold 45% and 55% respectively.
Both firms have common shareholders, hence, the collaboration is a related-party transaction.
