KUALA LUMPUR (Feb 14): Sapura Energy Bhd said five of its wholly-owned subsidiaries have been served winding-up petitions from separate petitioners in relation to unpaid contract sums, settlement agreement sums and judgment sums totalling some RM47.5 million.

The subsidiaries are Sapura Fabrication Sdn Bhd, Sapura Project Services Sdn Bhd, Sapura Subsea Services Sdn Bhd, Sapura Offshore Sdn Bhd and Sapura Pinewell Sdn Bhd.

In a filing with Bursa Malaysia, Sapura Energy said none of the subsidiaries are major ones as defined under Chapter 1 of the Main Market Listing Requirements.

According to the group, Sapura Fabrication had been served with two separate winding-up petitions — one by Dura International Sdn Bhd relating to an unpaid judgment sum of RM6.96 million,  and the other by Public Crane Heavy Equipment Sdn Bhd over an unpaid settlement agreement sum of RM6.27 million.

Sapura Project Services, meanwhile, was served with a winding-up petition by DTEC Engineering and Construction Sdn Bhd in relation to an unpaid settlement agreement sum of RM15 million.

As for Sapura Subsea Services, it was served two winding-up petitions, one by Fast Global Link Services in relation to an unpaid judgment sum of RM1.15 million, and another by Mectra Synergy (M) Sdn Bhd on the basis of non-payment of RM110,483 under a contract for the provision of marine services.

Three winding-up petitions were served to Sapura Offshore, with the first by Perdana Nautika Sdn Bhd concerning an unpaid RM6.74 million under a contract for vessel chartering.

The second petition was served by Hycotech Sdn Bhd for the non-payment of RM5.39 million under a contract for vessel chartering and rental of very small aperture terminal (VSAT) services, while the third was taken out by Equatorial Marine Fuel Management over the non-payment of US$226,760 and S$15,664 under a contract for the supply of marine gas oil. 

Sapura Pinewell was served with two winding-up petitions, one by Perdana Nautika for the non-payment of RM3.631 million under a contract for vessel chartering, and the other by Hycotech over the non-payment of RM820,931 under a contract for accommodation and catered meals.

Sapura Energy said the group and its subsidiaries are negotiating with the respective petitioners and have engaged lawyers for advice.

“Pending the outcome of negotiations and receipt of such legal advice, there will be no immediate material financial and operational impact and no expected losses to the group arising from the petitions,” it added.

Sapura Energy closed half a sen lower at 4.5 sen on Monday (Feb 14), valuing the group at RM719 million.