Dear Sirs

APPLICATION FOR RECOGNITION PURSUANT TO PART 11 AND THE THIRD SCHEDULE OF THE INSOLVENCY, RESTRUCTURING AND DISSOLUTION ACT 2018

SAPURA 1200 LTD

HC/OA 626/2024

NOTIFICATION NO. 1

1. We write to inform you that on 27 June 2024, Sapura 1200 Ltd (the “Company”) filed an application (the “Recognition Application”) in the General Division of the High Court of the Republic of Singapore for the following orders:

 a. That the reorganisation proceeding in relation to the Company in Malaysia be recognised by the Singapore Courts and in Singapore as a foreign main proceeding;

b. That Datuk Mohd Anuar Bin Taib, Chew Seng Heng and Norzaimah Binti Maarof be recognised by the Singapore Courts and in Singapore as foreign representatives (the “Foreign Representatives”);

c. That except with the consent of the Foreign Representatives or with leave of the Court:

i. commencement or continuation of individual actions or individual proceedings concerning the Company’s property, rights, obligations or liabilities be stayed, including but not limited to any arrest of the vessel “Sapura 1200”;

ii. execution against the Company’s property be stayed; and

 iii.    the right to transfer, encumber or otherwise dispose of any property of the Company be suspended;

 d.     The stay and suspension mentioned above be:

i. the same in scope and effect as if the Company had been made the subject of a winding up order under the Insolvency, Restructuring and Dissolution Act 2018; and

 ii. subject to the same powers of the Court and the same prohibitions, limitations, exceptions and conditions as would apply under the laws of Singapore in such a case; 

e. The Company is to apply to the Singapore Court to lift the effect of paragraphs 1(c) and (d) above within seven business days of the Restraining Order (as defined in paragraph 4 of the order of the Malaysia Court dated 7 March 2024 and paragraph 2 of the order of the Malaysia Court dated 6 June 2024 made in Originating Summons No. WA-24NCC-85-02/2023 filed on 20 February 2024 in relation to the Company) terminating for whatever reason;

f. The Foreign Representatives, the Company, any person claiming to be a creditor of the Company and any person whose interests may be affected by this order shall have liberty to apply for directions in relation to its interpretation or implementation; and

g. Pursuant to Article 19(1)(c) of the Model Law, pending the hearing and determination of the Recognition Application:

i. no other proceedings may be commenced or continued against the Company;

ii. no execution or other legal process may be commenced or continued against the Company or its property; and

iii.    no step may be taken to enforce any security over any property of the Company,

except with the consent of the Foreign Representatives or with leave of the Court (subject to such terms as the Court may impose). For the avoidance of doubt, this includes but is not limited to any arrest of the vessel “Sapura 1200” (the “Interim Relief Prayer”).

 2. A copy of the Recognition Application and the supporting affidavit can be downloaded via this link: https://www.dropbox.com/scl/fo/8zw5c9sladfivhvypbyl7/ACwTQPRDaLI1sjiM8Z7lPGk?rlkey=ev9g6og5uhfgjulq1gkfpocui&st=qjdjhrv6&dl=0

 3. Please note that the Registry has fixed a hearing on 5 July 2024 at 3pm before the Honourable Justice Aedit Abdullah with regard to the Interim Relief Prayer.

4. If you wish to support or oppose the Recognition Application and/or the Interim Relief Prayer, please inform our Singapore legal counsel, Oon & Bazul LLP, at restructuring.team@oonbazul.com by no later than 4 July 2024, 4pm.

5. Anyone intending to attend or participate in the hearing on 5 July 2024 should also inform Oon & Bazul LLP and provide the following information by no later than 4 July 2024, 4pm:

a. the name(s) of the person(s) or lawyer(s) attending the hearing; and

b. the full name of the party that the person or lawyer is representing.

6. We will continue to keep you updated on material events and any further directions from the Singapore High Court.