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.