Dayang Enterprise Holdings Bhd's subsidiary DESB Marine Services Sdn Bhd is acquiring a vessel from Shin Yang Shipyard Sdn Bhd for RM63.74 million.

Both companies entered into a shipbuilding contract today, in which the offshore accommodation workboat is scheduled to be delivered by end of 2011.

In a filing to Bursa Malaysia, Dayang said the acquisition was in line with its fleet expansion in providing marine support services to the offshore oil and gas facilities.

The acquisition, which will be funded internally, is expected to contribute positively to Dayang's future earnings and net assets for the financial year ending Dec 31, 2012, and beyond. -- Bernama