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    Daya Materials to dispose of construction vessel

    Vessel & ROV News // April 3, 2017

    Daya Materials Bhd (DMB) has confirmed that it plans to dispose of its construction vessel Siem Daya 1 via the disposal of the group’s wholly-owned unit, Daya Global 1 Ptd Ltd (DG1PL), to Siem OCV Ptd Ltd.

    The disposal consideration comprises US$82.7 million in cash and US$17.3 million to be settled via a debt forgiveness, cancellation and settlement arrangement between Siem Offshore Rederi AS and Canyon Offshore Inc, Daya Vessel Ltd and DMB.

    DMB said in a statement that, with the proposed disposal, its balance sheet position would be strengthened as the borrowings would be reduced by about RM406.9mil.

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