MISC on the lookout for maritime assets

KUALA LUMPUR: MISC Bhd, which has allocated US$1 billion as capital expenditure (capex) this year, is looking for opportunities to acquire maritime and maritime-related oil and gas services assets.
Its president and CEO Yee Yang Chien said the company is in a better position now to start on its acquisition trail.
"We're scanning the industry for opportunities," he noted.
Meanwhile, Yee believes MISC will not be affected by an oversupply of LNG vessels in the market, helped by the time charter agreements it has.
"The weakness in the market has no impact on us, (but) the impact is on our prospects going forward and our ability to get more contracts.
"We believe with the right cost of capital, we'll remain competitive," he said.