Scomi’s European subsidiary goes into liquidation

Kuala Lumpur: A Scottish subsidiary of Malaysia’s Scomi Group has been wound up. Scomi Oiltools (Europe) Limited (SOEL) is now in the hands of a court appointed liquidator.

The principal activity of SOEL was the provision of oilfield equipment, supplies and services. It ceased business operations in May 2012. Its total debts reached £14.68m.

Scomi said in a release its intention is to focus on the eastern hemisphere and there was unlikely to be any further European engagement.  [09/09/14]

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