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SAPURA Telecommunications Bhd is strengthening its presence in the oil and gas sector with the purchase of a controlling 38.56% stake in Crest Petroleum Bhd from Renong Bhd for RM105mil cash, or RM3.60 a share.
SAPURA Telecommunications Bhd's (Sapura) search for a meaningful core business is finally over with its recent acquisition of a 38.56 per cent stake in Crest Petroleum Bhd, a company whose mainstay is in offshore drilling, marine installations and marine construction.
SAPURA Energy Sdn Bhd, a wholly owned subsidiary of Sapura Hol-dings Sdn Bhd, has appointed Datuk Hamzah Bakar as the company chairman.
SAPURA Energy Sdn Bhd, which is venturing into Myanmar and Thailand this year, expects its overseas ventures to make a significantly higher contribution to its revenue for the financial year ending Jan 31, 2004.
It seems like punting on the oil and gas counters is the only game in town, judging by the spectacular surge in their share prices. In our special focus today, I>StarBiz/Ipresents two contrasting sides of the oil and gas story, plus the high flyers that have been hogging the limelight on the KLSE.