Company Briefs

Falcon unit buys 50% of Brunei firm

A SUBSIDIARY of Falcon Energy Group Ltd has acquired a 50 per cent stake in Brunei firm Maritim Indah Sdn Bhd for B$62,500 (S$62,500). Following the acquisition by Sears Marine SA, which is registered in Panama, Maritim Indah is now a joint venture company of the Falcon group.

Maritim Indah is an offshore oil and gas products and services provider and is also in the business of owning, chartering and operating vessels.

The group said the acquisition was funded by internal resources and is not expected to have any material effect on the net tangible assets per share and earnings per share of the gro…