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FINWIRES

Alam Maritim Resources Arm Acquires Remotely Operated Vehicle for $3.2 Million

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Subsea Worldwide Solutions, a subsidiary of Alam Maritim Resources (KLSE:ALAM), has acquired a remotely operated vehicle (ROV) from Deepinfar Ocean Technology for $3.2 million, according to a Wednesday filing to Bursa Malaysia.

The company's shares were up nearly 2% in Thursday's trade.

An ROV is an unmanned underwater robot controlled by operators at the surface, commonly used in offshore oil and gas, marine research, and underwater inspections.

The acquisition is aimed at strengthening the company's business of providing sub-sea engineering services, operating ROVs and providing saturation diving services, which is a key part of the group's finances.

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