Interim liquidator appointed to take control of Sapura Energy’s unit

KUALA LUMPUR (Sept 9): Sapura Energy Bhd said Lim San Peen has been appointed as its wholly owned subsidiary Sapura Project Services Sdn Bhd’s (SPSSB) interim liquidator under the order of the Shah Alam High Court. This is in connection with the winding-up petition filed against it due to non-payment of an outstanding sum. According to Sapura Energy’s bourse filing on Friday, the company and its subsidiaries had filed for the appointment of the interim liquidator of SPSSB on May 13, pending the hearing of the winding-up petition scheduled for Sept 14. It added that the appointment of the interim liquidator does not bear an immediate financial and operational impact on Sapura Energy, and will not affect the progress of the company’s restructuring plan. Shares in Sapura Energy closed half a sen or 12.5% higher at 4.5 sen, giving it a market capitalisation of RM719.06 million.