Carimin Petroleum Berhad has increased its shareholding in Sealink International Berhad to 25.3% after acquiring an additional 29.09 million shares, representing a 5.8% equity interest, for RM9.89 million in cash.
The company said the shares were acquired through direct business transactions between Sept 18 and Sept 22 at 34 sen per share.
The acquisition follows Carimin’s initial purchase of 97.5 million Sealink shares, representing a 19.5% stake, for RM39.98 million, or 41 sen per share, on Jan 21, 2026.
Following the latest transaction, Carimin holds a total of 126.59 million Sealink shares, representing 25.3% of the company’s issued share capital.
The two acquisitions bring Carimin’s total investment in Sealink to approximately RM49.87 million.
Sealink To Become Associate Company
Carimin said the increased shareholding will result in Sealink becoming an associate company, allowing the group to recognise its share of Sealink’s future earnings through equity accounting.
The acquisition follows the lapse of Carimin’s earlier proposed privatisation of Sealink, which would have enabled the group to fully consolidate Sealink’s operations and its larger, more diversified fleet of vessels.
Despite the unsuccessful privatisation proposal, Carimin said it continues to view the investment as strategically beneficial.
The company believes the increased stake will strengthen its exposure to offshore marine services while providing opportunities for collaboration between the two groups.
Carimin specialises in offshore maintenance and engineering services, while Sealink is principally involved in vessel chartering, shipbuilding, vessel ownership and operations, alongside property-related activities.
Carimin said combining its maintenance services expertise with Sealink’s vessel operations could create operational and commercial synergies, strengthening its position as an integrated offshore services provider.
The company also expects to benefit from Sealink’s future growth and earnings as an associate company.
Carimin confirmed that the latest acquisition is not a related-party transaction.
