KUALA LUMPUR (Aug 11): Sapura Energy Bhd, which is disposing of assets to address its cash flow and balance sheet position, said it has completed the disposal of heavy-lift and pipelay vessel Sapura 3000 for US$71.5 million (RM317.82 million). The disposal of Sapura 3000 was completed on Thursday (Aug 11), the group said in a brief filing with Bursa Malaysia. Sapura Energy took over the ownership of the vessel in 2017 following the discontinuation of its 50:50 joint venture with Subsea 7 SA. Sapura Energy shares settled unchanged at five sen, giving the group a market capitalisation of RM799 million. Read also:Sapura Energy begins asset sale with US$71m Sapura 3000 disposal

Source: The Edge Markets August 11, 2022 23:39 UTC