INTRODUCTION

The Board of Directors of Sapura Energy Berhad ("SEB" or "Company") ("Board") wishes to announce that the Company has on the following dates incorporated new wholly-owned subsidiaries:

A) SAPURA EXPLORATION AND PRODUCTION (AUSTRALIA) SDN. BHD. ("SEP Australia")

SEP Australia was incorporated on 18 September 2018 under the Companies Act, 2016 as a private company limited by shares with an issued share capital of RM2.00. SEP Australia is a wholly-owned subsidiary of Sapura Exploration and Production (Oceania) Sdn. Bhd. ("SEP Ocenia") which in turn is wholly-owned by Sapura Upstream Sdn Bhd (formerly known as Sapura Exploration and Production Sdn Bhd) ("SUSB"). SUSB is a wholly-owned subsidiary of SEB.

B) SAPURA EXPLORATION AND PRODUCTION (WESTERN AUSTRALIA) PTY LTD ("SEP Western Australia")

SEP Western Australia was incorporated on 26 September 2018 under the Australian Corporations Act 2001 as a company limited by shares with an issued share capital of $2.00. SEP Western Australia is a wholly-owned subsidiary of SEP Australia.

 

FINANCIAL EFFECTS

The incorporation of the two companies mentioned above are not expected to have any material impact on the SEB group's earning and net assets for the financial year ending 31 January 2019.

 

DIRECTORS AND MAJOR SHAREHOLDERS' INTEREST

None of the Directors and/or major shareholders of the Company or persons connected with them have any interest, direct or indirect, in the above incorporations.

 

This announcement is dated 5 October 2018.