Wah Seong in oil and gas infrastructure tie-up.

(From Business Times (Malaysia))

WAH Seong Corp Bhd, an industrial group listed on the Kuala Lumpur Stock Exchange main board, has set up a joint venture with a foreign party. Wah Seong and Dong Shi Qian, the main proprietor of Texas-based Ashburn International Inc, formed an 80:20 company called Wah Seong China Ltd (WSC) to deal in the oil and gas infrastructure industry. WSC will initially have a capital of HK$250,000 (HK$100 = RM49.21). Dong Shi Qian will give Ashburn shares, assets and current projects in exchange for its 20 per cent stake in WSC. Ashburn, incorporated in 1998, is chiefly involved in providing supplementary non-pipe coating-related services to the …