SapuraKencana plans to change its name

SapuraKencana Petroleum Berhad, a Malaysian oilfield services company, is planning to change its name to Sapura Energy Berhad. 

According to the company’s Bursa Malaysia filing on Thursday, the use of the proposed name of Sapura Energy Berhad was approved and reserved by the Companies Commission of Malaysia (CCM) on February 6, 2017 and the reservation of the name is valid for a period of 30 days from February 6, 2017.

Subsequently, the validity period was extended by the CCM to April 7, 2017, which may be further extended by the CCM.

The proposed change of name is subject to the approval being obtained from the shareholders of the company at a general meeting to be convened at a date to be announced later.

If approved by the shareholders, the proposed name change will take effect from the date of issuance of the notice of registration of new name by the CCM to the company.

The Malaysian company recently signed seven-year multi-currency financing facilities of approximately $1.5 billion equivalent with a consortium of Malaysian, regional and international banks to refinance its debts.