PETALING JAYA: PJBumi Bhd
has acquired five sets of drilling rigs from China-based Gaoyou Hao Xiang Petroleum Machinery Co Ltd, totalling RM161.64mil.
In a filing with Bursa Malaysia, the company said the drills are to facilitate oil and gas integrated project management drilling services in Indonesia.
“The obligation of the buyer to make any order is conditional upon the buyer securing a relevant contract. The buyer’s order shall be made through a purchase order (PO) by specifying the type, quantity and delivery requirement upon terms and conditions.”
PJBumi said the contract will not have any material effect on the issued and paid-up capital, substantial shareholders' shareholding, earnings per share, net asset per share and gearing of the company and its subsidiaries for the financial year ending June 30, 2026 until the issuance of the PO to the seller.
“The board of directors of the company, after due consideration of all aspects of the contract, is of the opinion that the contract is in the best interest of the company and is fair and reasonable to the company and is not to the detriment of the company and its shareholders.”
