Carimin Petroleum unit to acquire property in Sarawak worth RM21.12mil
KUALA LUMPUR: Carimin Petroleum Bhd’s 90 per cent-owned subsidiary, Sri Borneo Energy Sdn Bhd, proposes to acquire leasehold land and buildings in Sarawak from Sarwaja Timur Sdn Bhd for RM21.12 million.
Carimin Petroleum Bhd's subsidiary, Sri Borneo Energy Sdn Bhd, has proposed to acquire a property in Sarawak for RM21.12 million from Sarwaja Timur Sdn Bhd. The acquisition was formalised through a sale and purchase agreement signed on September 14, 2026, and will involve the reactivation of the galvanising and metal fabrication business.
According to a filing with Bursa Malaysia, Sri Borneo Energy aims to expand into more industries and market segments for future growth. This acquisition is expected to increase Carimin Petroleum's gearing from 0.12 times to 0.21 times, depending on the final funding mix.
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