Sapura Energy Bhd’s stocks rallied in early trade Monday after the appointment of new directors. At 10.09am, the counter jumped 14.3 per cent or half-a-sen to four sen, with 40.4million shares traded.
Sapura Energy recently appointed a former Malaysia Marine and Heavy Engineering Holdings Bhd (MHB) Wan Mashitah Wan Abdullah Sani as its independent non-executive director amid talks of a merger between the two oil and gas services providers.
Wan Mashitah had been MHB’s managing director and chief executive officer from 2017 and served until 2020. Sapura Energy also named Datuk Nur Iskandar A Samad as an independent non-executive director.
“Their stellar industry backgrounds and business acumen will significantly bolster the group’s collective expertise as we strive to turn around the company,” Sapura Energy Chairman Datuk Mohammad Azlan Abdullah said in a statement.
Both directors are seasoned energy industry professionals and their leadership experience will be invaluable to the company as it executes its Reset Plan and looks to grow in the future, added the statement.
