The Board of Directors of SapuraKencana Petroleum Berhad (“SKPB”) announces that SapuraKencana Drilling (Bermuda) Ltd (“SKD”), a wholly-owned subsidiary of SKPB had on 27 December 2013 incorporated a wholly-owned subsidiary in Hong Kong known as SapuraKencana Drilling Holdings Limited (“SKD Holdings”).
The share capital of SKD Holdings consists of 10,000 shares of a par value of HKD1.00 each.
SKD Holdings will be utilised in furtherance to the future strategic plans of the Company.
The incorporation of SKD Holdings is not expected to have any material effect on SKPB group’s earnings and net assets for the financial year ending 31 January 2014.
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Press Release, January 02, 2014