Sumatec orders 2 tankers from Chinese firms

SUMATEC Resources Bhd, through its wholly-owned subsidiary Semua Shipping Sdn Bhd, has entered into two shipbuilding contracts with Yangzhou Kejin Shipyard Co Ltd and Jiangsu Guotai International Group Co Ltd for the construction of two 8,000-tonne product oil tankers for RM43.9 million cash each. The purchase will be funded by internally generated fund and bank borrowings.