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ALAM Maritime has entered into a strategic partnership with Synergy Sparkle Sdn Bhd to set up a venture capital company known as Alam Ekplorasi (M) Sdn Bhd.
The venture entity with a one-ship-one-company concept would be managed by Alam Maritime, said Global Maritime Ventures Bhd (GMV) chairman Datuk Captain Ahmad Sufian.
The agreement is on a 40:60 basis, with Synergy Sparkle, a wholly-owned subsidiary of GMV, taking the minor role. Alam Maritime has the option to increase its equity up to 100 per cent.
Alam Maritime is a Bumiputera company engaged in the offshore sector.
"This is our first venture in the offshore support industry after …