The Board of Directors of SapuraKencana Petroleum Berhad (“SKPB”) announced that the Company had on 27 December 2013 incorporated three wholly-owned subsidiaries in Labuan, Federal Territory, Malaysia, known as SapuraKencana 1200 Pte Ltd (“SK1200”), SapuraKencana 3500 Pte Ltd (“SK3500”) and SapuraKencana FLB-1 Pte Ltd (“SKFLB”) (collectively the “Labuan Companies”).
The share capital of the Labuan Companies consists of 1 ordinary share of a par value of USD 1.00 each respectively.
The Labuan Companies will be utilised in furtherance to the future strategic plans of the Company.
The incorporation of the Labuan Companies is not expected to have any material effect on SKPB group’s earnings and net assets for the financial year ending 31 January 2014.
Press Release, January 02, 2014