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 opening stock price today (25.4.2012) was 27 sen)


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

Source: www.thestar.com.my

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