Destini Berhad (Destini or the Group) was awarded a contract for the provision of tubular handling, conductor installation and slot recovery equipment and services for the Pan Malaysia Petroleum Arrangement Contractors (PAC) Operators’ Drilling Program by Petronas Carigali Sdn Bhd (PCSB).
The award which was received by Destini Oil Services Sdn Bhd (DOS), a wholly-owned subsidiary of Destini, will see DOS as the primary contractor for (i) tubular handling, conductor installation and slot recovery for shallow water in East Malaysia and (ii) tubular handling for deep water.
Given the current challenging overall economic landscape, Astro Malaysia Holdings Berhad will be undertaking a Voluntary Separation Scheme (VSS) that will allow the Group to further simplify the organisation, enhance operational efficiency and reduce annual operating expenses.
The VSS is offered purely on a voluntary basis.
Three subsidiaries of Scomi Group Bhd have, on Dec 7, applied for Judicial Management via a Judicial Management Order (“JM Order”) from the High Court of Malaya, Shah Alam as part of its exercise to undergo a financial restructuring scheme to put it on a firm footing.
The three companies are Scomi Engineering Bhd (SEB, Scomi Rail Bhd (SRB) and Scomi Transit Project Brazil (Sao Paulo) Sdn Bhd (STPBSP).