By Khairul Khalid
Oil & gas services company Icon Offshore’s top executives were remanded by the MACC (Malaysian Anti-Corruption Commission), according to a company statement on Bursa Malaysia yesterday.
“To ensure fair market trading, the board of directors wishes to inform that MACC has remanded our chief executive officer (Jamal Yusof alias Gordon Duclos) and chief operating officer (Rahman Yusof) to facilitate and assist investigations currently being conducted by MACC. The company has no details of the nature of the investigations or their status,” said the company.
The two executives of Icon Offshore are brothers. Jamal is currently president of the Malaysia OSV (offshore support vessel) Owners’ Association. Rahman is responsible for Icon Offshore’s entire fleet operations.
Icon Offshore is a OSV provider that was established in 2012 through the consolidation of Tanjung Kapal Services Sdn Bhd and Omni Petromaritime Sdn Bhd (a company that Jamal founded), both of which are now within Ekuinas Capital Sdn Bhd’s portfolio.
Tanjung Kapal Services Sdn Bhd was founded by Tanjung Offshore Bhd and had begun operations as a third party charterer and agent since 1994.
Icon Offshore currently boasts the largest offshore support vessel fleet in Malaysia, with the 32 vessels at a relatively young average age of five years old. Icon Offshore Bhd is also a Petronas licence holder for OSVs.
Ekuinas Nasional Bhd (Ekuinas) owns 42% of Icon Offshore whose IPO (initial public offering) last year raised RM945 million.
At 9.25 am today, Icon Offshore was trading at 61 sen, down 7 sen.
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