Entered into 49:51 JV with ARI. SapuraCrest announced that it had entered into JV with Al Rayan Investment (ARI) with an initial investmentof RM308.7k. We understand that SapuraCrest will have a 49% stake in this JV while ARI will own the remaining 51%. Note that ARI was incorporated in the State of Qatar in 2007 as a limited liability company and is a wholly-owned subsidiary of Masraf Al-Rayan (Qatar’s fourthbiggest lender by market-cap). The businesses of ARI include real estate investment, private equity and investments and financial advisory services.
SapuraCrest Petroleum Berhad : Tapping The IPF Market In Middle East - 2/6/2010
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