Wednesday, April 13, 2011

SapuraCrest sets aside US$900mil for capex

Wednesday April 13, 2011

KUALA LUMPUR: SapuraCrest Petroleum Bhd will allocate US$900mil for capital expenditure over the next two years.
President and chief executive officer Datuk Shahril Shamsuddin said the money would be spent on new regional offices, assets and human resources.
The company planned to open regional offices in Vietnam, Myanmar, Australia and South America, he told reporters on the sidelines of Invest Malaysia 2011 here yesterday.
SapuraCrest, he said, would continue to bid for more projects in the region. “As a contracting company, we will continue to chase for new projects,” he said.
SapuraCrest's order book stood at between RM7bil and RM8bil.
He said the company's outlook was good. “We need to execute all our projects well and we are very focused in making sure we do our projects safely and on-time.” - Bernama