OIL and gas engineering company IEV Holdings said it has started due diligence for an acquisition as part of a diversification into healthcare and wellness, as it posted second-quarter losses on Wednesday. 

CATALIST-listed IEV Holdings is currently in talks with "certain unrelated third parties" for a transaction that may result in a diversification into the healthcare and wellness business, the oil and gas engineering solutions company said in a holding announcement on Tuesday. 

THE former vice-president - operations and commercial of IEV Holdings has filed a wrongful dismissal claim against the company with Malaysia's Department of Industrial Relations.