From The Star: Wah Seong bids for Socotherm

March 23, 2010

Dateline 2010-03-18, from The Star:

KUALA LUMPUR: Oil and gas company Wah Seong Corp Bhd submitted its bid to buy over Italian company Socotherm SpA three weeks ago, said deputy managing director Giancarlo Maccagno.

The results of the tender, which has attracted four other parties, would be known by end-April.

Maccagno declined to reveal the cost of the acquisition, which would be funded internally, as the company had a high cash reserve and low gearing of 0.3 times.

You can subscribe to an online version of the paper at the Bluehyppo site, follow links to e-browse.

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Posted by Wata

Wah Seong, Wasco and GSI

March 13, 2010

Some industry news I heard about, while doing a risk assessment for one of our clients.

Remember Wah Seong, a company I previously mentioned as not having met? To quote from their website:

Staying focused is imperative in this dynamic, ever-challenging industry. Hence, the Group has now organised itself into 6 business divisions under its wholly owned subsidiary, Wasco Energy Limited.

Actually, it’s kind of funny. Both the old and new company websites are up and running, if you know the secret code. (For discovering this error, please send the check to IGL. Bullion and diamonds accepted).

Anyhow, I came across Gas Services International Ltd (GSI), which Wah Seong bought in 2005. It turns out that they have recently (this week) gone through an exercise where they will carry the Wasco brand.

Kinda like when Pöyry was building up its brand by renaming all its subsidiaries.

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Posted by Wata

From The Star – (Wah Seong) Merger in the Works

February 5, 2009

I’ve never heard of Wah Seong Corp before this. Anyone?

The Star 2009-02-03 Wah Seong

The Star 2009-02-03 Wah Seong

I’ve scanned the article from the Star. You can subscribe to an online version of the paper at the Bluehyppo site, follow links to e-browse.

9 Comments | business opportunity, Malaysia, oil and gas | Tagged: | Permalink
Posted by Wata