Scomi Energy proposes equity sales

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Meanwhile, Scomi Oiltools Sdn Bhd (SOSB) has proposed to sell its 4% stake in Scomi KMC Sdn Bhd (together with 25 million redeemable preference shares in the company) to Oiltools International Sdn Bhd, a wholly-owned unit of Cahya Mata Oiltools.

KUALA LUMPUR: Scomi Energy Services Bhd (SESB) is proposing to dispose of its 48% stake in Scomi KMC Sdn Bhd and 100% equity interest in Scomi Oilfield Ltd (SOL) to Cahya Mata Oiltools Sdn Bhd, a 75%-owned subsidiary of Cahya Mata Sarawak Bhd.

Meanwhile, Scomi Oiltools Sdn Bhd (SOSB) has proposed to sell its 4% stake in Scomi KMC Sdn Bhd (together with 25 million redeemable preference shares in the company) to Oiltools International Sdn Bhd, a wholly-owned unit of Cahya Mata Oiltools.

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SOSB is also planning to dispose of its 25% interest in Scomi Oiltools Gulf W.L.L and its 25% interest in Continental Wire Cloth (M) Sdn Bhd, as well as its Dataran Prima property and its inventories and equipment to the same party. — Bernama

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