KUALA LUMPUR: Sapura Resources Bhd has recently announced a significant development in its business operations. The company has entered into a non-binding conditional Heads of Agreement with Royal Jet LLC on June 23. This agreement involves the disposal of ordinary shares in two of Sapura Resources’ wholly-owned subsidiaries.
The disposal transaction comprises 37.50 million ordinary shares, which represent the entire issued share capital in Sapura Aero Sdn Bhd. Additionally, 42.45 million ordinary shares in DNEST Aviation Sdn Bhd will also be sold. Sapura Resources made this announcement in a filing with Bursa Malaysia today.
Based in the United Arab Emirates, Royal Jet is a prominent player in the aviation industry. The company specializes in various services, including ad-hoc and block charter, VIP aircraft services, full turnkey aircraft management, aircraft brokerage, full-service fixed based operation, flight support services, aircraft maintenance, aircraft acquisitions, and aviation consulting services. Its expertise and diverse range of offerings have gained recognition in the global market.
News reports reveal that Royal Jet plans to expand its presence in the Southeast Asian private aviation market. To achieve this, the company intends to designate Subang Airport as its regional hub for private charters. Additionally, it aims to utilize this strategic location for its maintenance, repair, and overhaul business. This move highlights Royal Jet’s commitment to strengthening its foothold in the region. – Bernama
Credit: The Star : Business Feed
