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Scomi Group Bhd Announces Voluntary Liquidation Of Scomi Oiltools de Mexico S de RL de CV And Oilfield Services de Mexico S de RL de CV


Tuesday, 25 Jun 2013 06:16am EDT 

Scomi Group Bhd announced that Scomi Oiltools de Mexico S de RL de CV (SOM) and Oilfield Services de Mexico S de RL de CV (OSM), both being 99.97% owned subsidiary of Scomi Oiltools Bermuda Limited, a wholly-owned subsidiary of SCOMI, and which are in turn subsidiaries of SCOMI, have been placed under members’ voluntary liquidation on June 25, 2013 and has held its Final Meeting on June 25, 2013. SOM and OSM have ceased their operations since November 11, 2011 and it is therefore not cost effective to continue to maintain SOM and OSM. The liquidation of SOM and OSM will not have any material financial and operational impact effect on the net assets and earnings of SCOMI for the financial year ending 31 March 2014 other than the liquidation expenses. The liquidation is not subject to the approval of the shareholders of SCOMI and any relevant authorities. None of the directors and/or major shareholders of SCOMI and/or persons connected with them have any interest, direct or indirect, in the liquidation. The Board of Directors of SCOMI, having taken into consideration all aspects of the liquidation, is of the opinion that the liquidation is in the best interest of SCOMI. 

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