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FINANCIAL NEWS
Dubai Drydocks partners with Malaysia’s tycoon
27 Jun 2012
(MENAFN) Drydocks World has joined hands for its Southeast Asia operations with a company linked to Malaysia’s tycoon Robert Kuok, Reuters reported.
The indebted shipbuilder said the joint venture with Kuok Group’s Pacific Carrier Ltd. will be based in Singapore.
Drydocks bought its Southeast Asia operations in 2007 for about USD2.2 billion and the debt stems from loans it took to fund the expansion.
Billionaire Robert Kuok is Malaysia’s richest man, with a net worth estimated by Forbes at USD12.4 billion.
His business spans sugar, palm oil, shipping and property. He also controls the South China Morning Post newspaper.
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