Cahya Mata Sarawak ventures into energy sector via acquisition of Scomi Energy's oilfield assets

KUALA LUMPUR: Cahya Mata Sarawak Bhd (CMS) is venturing into the energy sector via the acquisition of Scomi Energy Services Bhd’s oilfield operations for RM21mil.

In a statement, CMS said two of its subsidiaries Cahya Mata Oiltools Sdn Bhd and Oiltools International Sdn Bhd, entered into four conditional sale and purchase agreements with Scomi Energy to acquire Scomi Oilfield Ltd together with various companies and assets within the Scomi Oilfield Group of Companies.