PSP Energy (KLSE:PSP) unit PSP Marine (M) signed a memorandum of agreement to acquire a bunker vessel for about 5.5 million ringgit, according to a Wednesday filing with Bursa Malaysia.
Shares dropped about 4% in Thursday's afternoon trade.
The MOU was signed with Eastern Marine, acting on behalf of Kyokai Kaiun, to buy the vessel Ryokyo Maru No. 2.
The acquisition will expand the group's bunker fleet to four vessels with a total carrying capacity of about 4.9 megalitres.
The deal is expected to be completed in the second quarter of 2026, the filing stated.
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