Former finance minister Tun Daim Zainuddin may invest in a local oil and gas company and is believed to have budgeted close to RM500 million to tap the growing industry, sources said.
One company that he is eyeing is pipeline engineering and services group Sigur Ros Sdn Bhd, based in Putrajaya.
"Sigur Ros is one of the companies that have been shortlisted.
"Nothing has been finalised and it is premature to talk on the matter at the moment, especially since the investment is in a private company and not a listed entity," a person close to Daim said. He declined to comment further.
The low-key Daim has been out of the Malaysian business scene for quite some time. He was known as the first Malay property developer who had built Taman Maluri in Cheras.
He now holds a controlling 62 per cent of the Switzerland-based International Commercial Bank Group (ICB), which has banks in 13 countries, mostly in eastern Europe, Africa and Asia.
The group is also listed on the London Stock Exchange.
Established in 2001, Sigur Ros is said to have many ongoing projects both locally and overseas.
It has provided construction and support services, including pipeline and structure installation, pipeline pre-commissioning and decommissioning services, and leak-testing services to the oil and gas industry in Southeast Asia and East Africa.
Sigur Ros is also the owner and operator of a pipelay barge, called Arwana Satu, used for swamp estuary and shore approach work, which is based in Port Klang.
It has done work for clients like Petroliam Nasional Bhd, Shell and ExxonMobil. It made sales of RM16.47 million and a net profit of RM1.45 million in 2008, documents from the Companies Commission of Malaysia showed.
Its managing director Mohamad Azmadi Fadzil could not be contacted as he was overseas on a business trip.
Azmadi holds 90 per cent of Sigur Ros Holdings Sdn Bhd, which in turn holds all of Sigur Ros Sdn Bhd
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- Nuang
- Ibrahim bin Ramli@Nuang started his career with CIMB Wealth Advisors Berhad as Agency Manager in April, 2008.Previously he was an Internal Auditors and Accounts Executive with Perodua Sales Sdn Bhd since 17 August, 1994. His background:- 1.Certified of Achievement for Master Sales Leadership from Dr Lawrence Walter Ng of President of The Art Of Learning and International Of Learning Without Learning 2.Certified for eXtra Ordinary Performance of Lawrence Walter Award Certificate for One Million Ringgit Club 2007 3. Certified Life & General insurances 4. Conferred with Diploma in Business Studiess & Bachelor of Business Admin(Hons)Finance from UiTM, Terengganu Branch & Shah Alam respectively;
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