The company said it wants to buy 20% of the oil and gas player for MYR 18m ($5.58m) in cash as it tries to move into the supply ship and anchor-handler sector.

It told the Kuala Lumpur stock exchange that it had signed a conditional deal with Efogen CEO Johany Jaafar to buy his stake.

"The acquisition represents a first step towards PDZ's plans to grow its present core business in the container liner, shipping and shipping management services business into providing offshore supply vessel services to the oil and gas industries," said PDZ.

Efogen