Capt Kumar will continue in his duties and responsibilities pending the appointment of a suitable candidate in due course, Emas Offshore said in a stock market announcement.
He is also on the board of Perisai Petroleum and has been re-designated as a non-executive and non-independent director since June 2017. Capt Kumar has previously worked for Bumi Armada and MISC.
In a separate announcement, Emas Offshore also said that Perisai Production, a unit of Malaysia-listed Perisai Petroleum Teknologi, is demanding that Emas sell its 49% stake in joint venture company Emas Victoria (L) to it for $1.
Earlier this month, Perisai Production alleged that a termination event had taken place, with Emas Offshore’s ongoing restructuring efforts triggering the shareholders' agreement termination clause.
This requires Emas Offshore to give up its shares in the joint venture for a token $1. Emas Victoria owns the floating production storage and offloading (FPSO) vessel Perisai Kamelia, which was sent into layup in April 2017.
Emas Offshore said that it is seeking legal advice on the matter.
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