Dear Sirs,

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

HC/OA 344/2025 – RE SAPURA DANA SPV PTE LTD

HC/OA 345/2025 – RE SAPURA FABRICATION SDN. BHD.

HC/OA 347/2025 – RE SAPURA ENERGY BERHAD

HC/OA 348/2025 – RE SAPURA OFFSHORE SDN. BHD.

HC/OA 349/2025 – RE SAPURA 1200 LTD

NOTIFICATION NO. 1

1. Please note that on 3 April 2025, Sapura Energy Berhad, Sapura Dana SPV Pte Ltd, Sapura Fabrication Sdn. Bhd., Sapura Offshore Sdn. Bhd. and Sapura 1200 Ltd (collectively, the “Sapura Entities”) filed applications vide. HC/OA 344/2025, HC/OA 345/2025, HC/OA 347/2025, HC/OA 348/2025 and HC/OA 349/2025 respectively (collectively the “Recognition Applications”) in the General Division of the High Court of the Republic of Singapore for the following orders:

1. 1. The proceedings in the High Court of Malaya at Kuala Lumpur (the “Malaysian Court“) in respect of Originating Summons No. WA­24NCC­85­02/2024 (the “Scheme Proceedings“) be hereby recognised by the General Division of the High Court of Singapore and in Singapore as foreign main proceedings within the meaning of Article 2(f) of the UNCITRAL Model Law on Cross­-Border Insolvency as adopted in Singapore by way of Part 11 and the Third Schedule of the Insolvency, Restructuring and Dissolution Act 2018 (the “SG Model Law“).

1. 2. Mr Chew Seng Heng and Mr Ganesh a/l Gunaratnam be hereby recognised by the General Division of the High Court of Singapore and in Singapore as foreign representatives (the “Foreign Representatives“) within the meaning of Article 2(i) of the SG Model Law of the Sapura Entities in respect of the scheme of arrangement of the Sapura Entities (the “Scheme“) which has been approved and sanctioned by the Malaysian Court vide. its order dated 6 March 2025 (the “Sanction Order”).

1. 3. Subject to paragraph (d) below, except with the consent of the Foreign Representatives or with leave of the Court (subject to such terms as the Court may impose):

1. 1. 1. commencement or continuation of individual actions or individual proceedings concerning the Sapura Entities’ property, rights, obligations, or liabilities be hereby stayed;
      2. execution against the Sapura Entities’ property be hereby stayed; and
      3. the right to transfer, encumber or otherwise dispose of any property of the Sapura Entities be hereby suspended.

1. 4. The stay and suspension mentioned in paragraph (c) above shall be:

1. 1. 1. the same in scope and effect as if the Sapura Entities had been made the subject of winding up order(s) under the Insolvency, Restructuring and Dissolution Act 2018; and
      2. 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.

1. 5. Where any vessels owned by Sapura Dana SPV Pte Ltd or Sapura 1200 Ltd may be entering Singapore, Sapura Dana SPV Pte Ltd and/or Sapura 1200 Ltd (as the case may be) is to write to the Singapore Court by letter giving the details of the vessel and the date of entry into and departure from Singapore, at least 24 hours before. In addition, an advertisement is to be taken out by Sapura Dana SPV Pte Ltd and/or Sapura 1200 Ltd (as the case may be) at least 24 hours before such entry, indicating the protection against arrest of the named vessel, and such advertisement is thereafter to be sent to the Court by letter as soon as possible. In the case of the vessel known as the “Sapura 2000″, Sapura Dana SPV Pte Ltd is to take out an advertisement with the above­mentioned details as soon as possible after the making of an Order of Court in the Recognition Applications, a copy of which advertisement is thereafter also to be sent to the Court by letter as soon as possible.

1. 6. The Scheme of the Sapura Entities which has been approved and sanctioned vide. the Sanction Order be hereby recognised and enforced in Singapore as a foreign order, together with any appropriate relief as the Singapore Court may deem fit under Article 21 of the SG Model Law for the implementation of the Scheme.

1. 7. The Sapura Entities are to apply to the Singapore Court to lift the effect of paragraphs (c) to (e) above within seven business days of the Restructuring Effective Date or the Longstop Date (as defined in the Annexure A of the Sanction Order), whichever is earlier.

1. 8. The Foreign Representatives, the Sapura Entities, any person claiming to be a creditor of the Sapura Entities, and any person whose interest may be affected by this order shall have liberty to apply for directions in relation to its interpretation or implementation.

2. Copies of the Recognition Applications and supporting affidavit may be accessed via this link: https://www.dropbox.com/scl/fo/tpimcxl36ri9lphlybpm0/AOzreXAxQlX29dcdYBBJ9F0?rlkey=n5cukndi84j2pkkk0rkafa66g&st=wzizqa6f&dl=0

3. Please note that the following directions have been made in respect of the Recognition Applications:

1. 1. Any creditor or other interested party who wishes to file a responsive affidavit must do so by 25 April 2025 at 4pm. The affidavit should be served on our solicitors, Oon & Bazul LLP by email at restructuring.team@oonbazul.com and be e-filed through the E-Litigation platform of the Singapore Courts.  

1. 2. Any creditor or other interested party who wishes to file written legal submissions and supporting bundles for the hearing must do so through the E-Litigation platform by 30 April 2025 at 4pm. Submissions are limited to 35 pages and should not be tendered in hard copy to the Singapore Court.

1. 3. The hearing will take place on 7 May 2025 at 10am before the Honourable Justice Aidan Xu.

4. Creditors and other interested parties should continue to refer to this webpage, where we will keep you updated on material events and any further directions from the Singapore High Court.