Scomi says Maybank has right to sell SESB shares

Scomi Group told StarBiz the asset disposal is one of the avenues to reduce the debt position.

KUALA LUMPUR: Malayan Banking Bhd (Maybank) has the right to dispose of 206.04 million shares of Scomi Energy Services Bhd (SESB) if its parent company Scomi Group Bhd fails to settle RM201.91mil owed to the bank.

Scomi Group in a statement yesterday said the other financiers other than Maybank were Pembangunan Leasing Corporation Sdn Bhd for a leasing facility and CIMB Bank Bhd for overdraft and foreign exchange contract limit facilities.