KUALA LUMPUR (March 25): Oil and gas services provider Handal Energy Bhd (KL:HANDAL) has teamed up with a private company, BumiRaya Petroleum Sdn Bhd, to tap into the local and regional offshore crane services market. "This collaboration aims to combine Handal’s financial strength and technological foundation as a listed company with BumiRaya’s flexibility in professional engineering services and market expansion," said Handal in a statement on Wednesday. Handal will hold a 60% stake in the joint venture company and BumiRaya the remaining 40%. Handal said there are approximately 420 offshore cranes in the region at present, each requiring maintenance services, indicating a very broad market prospect. Handal, on its part, possesses extensive experience in the offshore crane industry, with businesses encompassing crane manufacturing, refurbishment, repair, leasing, and engineering, procurement, and construction (EPC) services.

Source: The Edge Markets March 25, 2026 12:58 UTC