Pursuant to Paragraph 9.19(23) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, Bumi Armada Berhad (Bumi Armada or the Company) wishes to announce that the Company has on 4 October 2011 incorporated a subsidiary in the Republic of the Marshall Islands under the name of Bumi Armada Russia Holdings Limited (BAR).
The authorised capital of BAR is USD50,000 comprising of USD1.00 each, of which 10,000 shares have been issued. BAR will be principally involved in the oil and gas industry.
The incorporation of BAR is not expected to have any material impact on the earnings or net assets of the Bumi Armada Group for the financial year ending 31 December 2011.
None of the Directors and/or major shareholders and person connected to them has any interest, direct or indirect, in the said incorporation.
This announcement is dated 4 October 2011.