T7 to take full control of Fircroft Tanjung
has proposed to buy the remaining 49% stake it does not own in Fircroft Tanjung Sdn Bhd (FTSB), a company that is involved in the supply of manpower for the oil and gas (O&G) and petrochemicals industries, for a cash purchase consideration of 49% of FTSB’s net assets as at Jan 31,2021. In a filing with Bursa Malaysia, T7 said its unit Tanjung Offshore Services Sdn Bhd had entered into a share sale agreement with Fircroft Engineering Services Ltd (FESL) for the acquisition of the stake. FTSB is currently a 51%-owned subsidiary of Tanjung Offshore. Upon completion of the proposed acquisition...
Source: thestar.com.my