Malaysia’s MISC, Sudan Shipping Line incorporate joint venture

Oct 31, 2005 (KUALA LUMPUR) — Malaysia’s MISC Bhd said its wholly-owned subsidiary MISC International (L) Ltd, together with Sudan Shipping Line Ltd, has incorporated a joint venture company with with a paid up capital of three mln usd in Sudan.

In a statement to Bursa Malaysia, the company said that it will own a 49 pct stake while Sudan Shipping will hold the other 51 pct in the joint venture company.

It added that the activities and operations of the joint venture company are scheduled to start in January 2006.

MISC International and Sudan Shipping Line had on Sept 17, 2005 entered into a joint venture agreement to participate in shipowning, ship operations and shipping related activities in Sudan.

(AFX/ST)