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Wed 25 Jan 2017, 13:43 GMT

Dan-Bunkering arrests ship over supply of marine fuel: PDZ


Malaysia's PDZ served with writ and warrant of arrest.

Malaysia's PDZ Holdings Bhd - the owner of Perkapalan Dai Zhun Sdn Bhd, which operates as PDZ Lines - confirmed on Wednesday that its container vessel, the PDZ Mewah, has been arrested by Dan-Bunkering (Singapore) Pte Ltd over the supply of marine fuel.

PDZ said it was served with a writ and a warrant of arrest on the PDZ Mewah on 24th January.

"The board is currently seeking legal advice and intends to take steps to defend the arrest of [the] vessel and any claims that may subsequently be filed," Bursa Malaysia-listed PDZ stated.

PDZ said the arrest is not expected to have material impact on the group's financial position and its subsidiaries for the current financial year ending 31st December 2017.

Built in 1993, the Malaysia-flagged PDZ Mewah has a deadweight tonnage (dwt) of 12,577 tons and a gross tonnage (grt) of 9,602 tons.

At the time of writing, shares in PDZ were trading at MYR 0.07, down 1 Malaysian sen on the previous day's closing price. The company has a market capitalization of MYR 60.852 million (USD 13.73 million) and a 52-week trading range of MYR 0.06 - MYR 0.14.

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