Home > News Release > 2018-02-28 The winding-up process commences for Malaysian Joint Venture, UMW JDC Drilling Sdn. Bhd. (JDC's Affiliate)

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The winding-up process commences for Malaysian Joint Venture, UMW JDC Drilling Sdn. Bhd. (JDC's Affiliate)

2018-02-28

A joint venture was entered into between UMW Corporation Sdn. Bhd. (currently UMW Oil & Gas Corporation Berhad, and hereinafter "UMW") and JDC based on the co-ownership of the semi-submersible drilling rig "NAGA 1" (formerly "HAKURYU-3"). In order to promote this joint venture business in Malaysia, in April 2005, UMW JDC Drilling Sdn. Bhd. (hereinafter "UJD") was established in Malaysia by the two parties. However, by following the termination of this joint venture, on 26 February 2018, UMW and JDC have commenced the process of voluntary winding-up.