Former Tanjung Offshore executive director detained in graft probe

July 3, 2015

Dateline 2015-05-20, TMI:

The Malaysia Anti-Corruption Commission today arrested a former Tanjung Offshore Bhd executive director to facilitate investigations into a graft probe.

The former director was among four people who were called to the MACC’s headquarters in Putrajaya this evening to have their statements recorded in relation to a graft probe in a purchase of Tanjung Offshore subsidiary Gas Generators (M) Sdn Bhd (Gastec) in 2013, sources close to the investigation said.

MACC is expected to obtain a remand order on the former director tomorrow. The other three  were released after MACC seized documents from them and recorded their statements.

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Oil and gas man ready to spill details on Tanjung Offshore

April 9, 2015

Dateline 2015-02-09, Malaysian Insider:

Low-profile oil and gas player Tan Sri Tan Kean Soon, who shot to prominence for the wrong reasons, has broken his silence over certain allegations at Tanjung Offshore Bhd.

In refuting reports in the media the last fortnight, Tan said he would soon tell his side of the story so that shareholders would get the full picture.

Tan, a non-independent director of Tanjung Offshore, has been suspended from his executive position in the largely oil and gas company along with another senior official, Muhammad Sabri Abdul Ghani, after the latter’s independent committee completed its findings over possible conflicts of interests and breaches of fiduciary duties.

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New player seen in Malaysia oil & gas sector

June 24, 2014

Hah, and I always said we could have a bottled water vendor in the O&G space.

 

Dateline 2014-05-05, Seatrade Global:

A Sarawak-government linked group is believed to be looking at injecting MYR200m ($61.5m) in oil and gas (O&G) fabrication assets into a reverse takeover of loss-making bottled water company BIO Osmo to transform it into an O&G company, local reports said.

The speculation has also been prompted by recent changes in its shareholding, including the emergence of Tanjung Offshore managing director Harzani Azmi as a substantial shareholder in January.

Tanjung is looking for a core business after selling its offshore supply vessel business to Ekuiti Nasional for MYR220m in July 2012.The group has been on the look-out for a shell company for some time and Bio Osmo, which is debt free after having undergone a recent restructuring exercise, fits the bill.

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