PETALING JAYA: Lianson Fleet Group Bhd, formerly known as Icon Offshore Bhd, announced that its indirect wholly owned subsidiaries Melisar Corporation Pte Ltd and Gimsar Corporation Pte Ltd have signed two memorandums of agreement for the acquisition of MV Pacific Ace and MV Pacific Pride for RM115.1 million.
The latest acquisitions follow the purchase of MV Moana BAQ in August, bringing Lianson Fleet’s total bulk carrier count to three.
The three acquisitions are expected to be completed by the end of October and will be financed with a combination of internally generated funds and bank financing.
Upon completion of the acquisitions, the group’s marine transportation fleet will expand to 39 vessels, comprising 17 barges, 17 tugboats and five bulk carriers.
This milestone aligns with Lianson Fleet’s strategic objective to diversify beyond the offshore support vessel (OSV) segment and strengthen its recurring income streams.
By focusing on long-term charter asset classes, the group aims to enhance earnings visibility and reinforce its position as a leading maritime asset player.
Lianson Fleet executive chairman Lim Chern Wooi expressed positivity about entering the next phase of the company’s growth journey, having successfully evolved beyond a pure-play OSV operator.
“The acquisitions mark a pivotal step forward, enabling us to strengthen our position in the marine transportation sector and tap into new opportunities across Southeast Asia.
“With robust demand for marine trade driven by regional flows of bulk cargo and commodities, we are well placed to accelerate our growth. This expansion will also enhance our earnings visibility through longer-term charters and bolster our recurring income stream,“ he said in a statement.