25 April 2012
Scomi Group Bhd disposed 99.6% of Scomi Oiltools Kish Limited to Behnam Mousavi Moustafa for total cash consideration of RM 52.1mil
Scomi Group Bhd has disposed 498 registered shares representing 99.6% of the issued and paid up share capital of its indirect subsidiary, Scomi Oiltools Kish Limited to Behnam Mousavi Moustafa, for a total cash consideration of US$17mil or RM52.1mil.
As a result of the disposal, Scomi Oiltools Kish has ceased to be a subsidiary of Scomi Group.
The disposal is not expected to have a material impact on the earnings of the group for the financial year ending Dec 31, 2012