Bumi Armada Berhad (“BAB”) wishes to announce that its subsidiaries, Offshore Marine Ventures Sdn Bhd (“OMV”) and Bumi Armada Ship Management Sdn Bhd (“BASM”), collectively referred to as “Subsidiaries”, approved via Special Resolutions at their respective Members’ meetings held on Thursday, 30 December 2021 for the Subsidiaries to be voluntarily wound-up pursuant to Section 439(1)(b) of the Companies Act, 2016. Mr Arulendran Gunedran of RSM Corporate Advisory (Malaysia) Sdn Bhd has been appointed as the Liquidator for the purpose of such winding-up of the Subsidiaries. BAB holds a 100% effective interest in the Subsidiaries via its subsidiary, Bumi Armada Singapore Holdings Pte Ltd.

1. Information on OMV

OMV was incorporated on 22 July 2005. The issued and paid-up capital of OMV is RM7,500,001 representing 7,500,001 ordinary shares. OMV was principally involved in activities consisting of the provision of marine transportation and support services to the oil and gas industry. OMV has been dormant since 2021.

2. Information on BASM

BASM was incorporated on 7 February 1998. The issued and paid-up capital of BASM is RM2.00 representing 2 ordinary shares. BASM was principally involved in the management of ships and vessels, marine support and other services to offshore oil and gas companies. BASM has been dormant since 2021.

3. Rationale for voluntary winding-up

The Subsidiaries are dormant and the winding up is in line with BAB’s streamlining exercise.

4. Effect of voluntary winding-up

The voluntary winding-up of the Subsidiaries will not have a material financial and operational impact on the Bumi Armada Group for the financial year ended 31 December 2021.

5. Directors and Major Shareholder’s Interests

None of the Directors or major shareholders of BAB or persons connected to them have any interest, direct or indirect, in the voluntary winding-up of the Subsidiaries.

This announcement is dated 14 January 2022.