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OEL acquiring firm in oil and gas business

Proposed 51% stake in Allied Resources part of diversification strategy

Published Wed, Jul 1, 2015 · 09:50 PM

Singapore

IN a bid to generate new income streams and to diversify from its businesses in shipyard operations and property management, Catalist-listed OEL (Holdings) has struck a deal to acquire 51 per cent of Allied Resources, an investment holding company with interests in the oil and gas business.

The consideration is about S$18.2 million.…

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