Bhd, an electronics company, has diversified into the shipbuilding business by partnering Pong Leung Swee to set up and operate a shipyard on Carey Island, Selangor, Malaysia
Setron said the alliance entails designing and building ships and similar vessels to primarily serve the oil and gas industry. "The company is confident that the demand for new crew boats and other support vessels for oil and gas industry in the region is promising.
A new joint venture company will be formed and Setron would hold 51 percent while Pong would have the rest.
Source: Business Times