Scomi to take units private via share swap

Petronas, which awarded contracts to Scomi, will continue to shape the outlook of the oil and gas sector this year.

PETALING JAYA: Scomi Group Bhd is proposing to take its energy and engineering units private via a share swap scheme, as the group seeks to consolidate all its existing operations under one listed entity.

The plan, the group said, would strengthen its balance sheet in the midst of a challenging business environment and facilitate its future business expansion.