Dubai's Drydocks in Southeast Asia JV with Kuok Group
Source: BI-ME with Reuters , Author: Posted by BI-ME staff
Posted: Wed June 27, 2012 8:50 am
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UAE. Drydocks World, the indebted Dubai shipbuilder, said on Wednesday it has inked a joint venture for its Southeast Asia operations with a company linked to Malaysian billionaire Robert Kuok.

Drydocks, which is restructuring US$2.2 billion in debt and sought insolvency protection in April, said the venture with Kuok Group's Pacific Carrier Ltd. will be based in Singapore.

Drydocks' Southeast Asia operations are based in Singapore and Indonesia. No financial details were given.

 

MIDDLE EAST BUSINESS COMMENT & ANALYSIS

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UAE. A tool for Governments, businesses and NGOs to look beyond economics toward Social Progress measurements to maximize FDI and growth.
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INTERNATIONAL. Banks in Bahrain and Oman are vulnerable indirectly through the potential drop in investments and economic growth, and Nigeria is vulnerable directly through its banking system's significant overall exposure to the oil sector.
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INTERNATIONAL. Banks in Bahrain and Oman are vulnerable indirectly through the potential drop in investments and economic growth, and Nigeria is vulnerable directly through its banking system's significant overall exposure to the oil sector.
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