Talks about a potential business combination between Malaysia’s Bumi Armada and the offshore segment of the compatriot shipping giant MISC Berhad (MISC), an owner and operator of offshore floating and energy-related maritime solutions and services, have come to nought.
A few months ago, Bumi Armada revealed that the due diligence exercise with MISC was ongoing, under the memorandum of understanding (MoU) the duo signed in 2024 to explore a prospective merger via an all-share transaction.
The MoU, which was effective for nine months, until the execution of the definitive agreement or termination of the MoU, whichever came sooner, was undertaken to forge a bigger floating production business.
However, the board of directors of Bumi Armada has revealed that a mutual agreement was reached with MISC not to pursue the proposed merger. As a result, the MOU lapsed on August 14, 2025.
The Malaysian player has confirmed its intention to continue to pursue strategic growth opportunities, supported by what it describes as its robust financial position.
Bumi Armada made arrangements with ONGC in May 2025 for the operation and maintenance (O&M) of a floating production storage and offloading (FPSO) vessel deployed off the coast of India.