Oil & Gas

On 23 May 2011, PNHB's wholly owned subsidiary, Puncak Oil & Gas Sdn Bhd ("POG") entered into Agreements to acquire 40% equity interest in two (2) oil and gas entities, namely GOM Resources Sdn Bhd (formerly known as Global Offshore Malaysia Sdn Bhd) ("GOM Resources") and KGL Ltd ("KGL") with proven track records in undertaking oil and gas works for Petronas which enable Puncak Group to make further forays and strengthen its presence as a significant company in the oil and gas industry. The 40% equity acquisitions of GOM Resources and KGL were completed on 30 June 2011.

On 28 September 2011, POG completed the acquisitions of the remaining 60% equity interest in GOM Resources and KGL thereby resulting in both GOM Resources and KGL becoming wholly owned subsidiaries of POG.