Sapura Energy subsidiaries served with winding-up petitions

Malaysian offshore services provider Sapura Energy said five of its subsidiaries have been served with winding-up petitions in relation to outstanding claims from several companies worth around RM47.5m ($11.2m).

The five subsidiaries included Sapura Fabrication Sdn Bhd, Sapura Project Services Sdn Bhd, Sapura Subsea Services Sdn Bhd, Sapura Offshore Sdn Bhd, and Sapura Pinewell Sdn Bhd.

The claims involve unpaid contract sums, settlement agreement sums, and judgment sums from Dura International Sdn Bhd, Public Crane Heavy Equipment Sdn Bhd, DTEC Engineering & Construction Sdn Bhd, Fast Global Link Services, Mectra Synergy Sdn Bhd, Hycotech Sdn Bhd and Perdana Nautika Sdn Bhd.

In a filing with Bursa Malaysia, Sapura Energy said none of the subsidiaries are major ones as defined under Chapter 1 of the Main Market Listing Requirements, adding that the group is negotiating with the respective petitioners and has engaged legal counsel for advice.

“Pending the outcome of negotiations and receipt of such legal advice, there will be no immediate material financial and operational impact and no expected losses to the group arising from the petitions,” the company added.

Adis Ajdin

Adis is an experienced news reporter with a background in finance, media and education. He has written across the spectrum of offshore energy and ocean industries for many years and is a member of International Federation of Journalists. Previously he had written for Navingo media group titles including Offshore Energy, Subsea World News and Marine Energy.
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