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Helms Geomarine Exits Asian Geos

Helms Geomarine Exits Asian Geos

KUALA LUMPUR, 1 FEBRUARY 2017 – Helms Geomarine Sdn Bhd (HELMS) has recently completed the sale of a 51% controlling stake in Asian Geos Sdn Bhd, a specialist Offshore Geotechnical and Geophysical service provider within the Asia Pacific market to Java Offshore Sdn Bhd. The decision was made following the decision by the other strategic shareholder of Asian Geos, Gardline Geosciences Limited, UK to call off the nearly 6-years of business partnership.

​The owner of HELMS, Dato’ Ir. Mohamad Helmi Zulkawi (Dato’ Helmi) still retains a minority stake in Asian Geos but he will no longer involved in the day to day management of the Company.

Dato’ Helmi said: “The incoming of Java Offshore into Asian Geos was quite timely in view of the current challenges in the Oil & Gas Segment affecting most service providers worldwide. I am confident that Asian Geos under the stewardship of the new owner and management team will be able survive the difficult period and come up stronger when the market fully recovers.”

​Syahril Ikhwan, the General Manager and Director of HELMS commented: “Being the parent company of Asian Geos since March 2011 until January 2017, HELMS has the required momentum to venture into the sub-sector of marine civil engineering works that does not involve owning and operating capital intensive drilling and geophysical site survey vessels and equipment.”