Kuala Lumpur: Perdana Neptune, a subsidiary of Malaysia-listed Perdana Petroleum, has sold an offshore support vessel (OSV) to Hauston Limited for RM 93.5m ($28.5m).

The sale is part of Perdana Neptune’s fleet renewal programme.

Perdana Petroleum said in an exchange filing the sale consideration was arrived at on a “willing-buyer willing-seller basis”. The price takes into consideration the net book value of the OSV of RM 92.0m million and the original cost of investment of RM 108.0m.

The RM 1.0m gain made on the sale will be channeled to the Perdana Petroleum Group to meet operating expenses, repay bank borrowings and fund the acquisition of new assets.

The vessel is expected to be delivered to the buyer before the end November. [29/10/14]