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Bumi Armada Appoints Two Directors To its Board

Source: 10/28/2014, Location: Asia

Malaysia-based international offshore oilfield services provider, Bumi Armada Berhad, announces the following appointments to its Board of Directors:

a) The appointment of Mr Shapoorji Pallonji Mistry (Mr Shapoor Mistry) as an additional Director of the Company, in a Non-Independent and Non-executive capacity;

b) The appointment of Mr Ravi Shankar Srinivasan as an alternate Director to Mr Shapoor Mistry.

Mr Shapoor Mistry, age 50, holds a Bachelor of Arts in Business Administration and Economics, from Richmond College, London.

Mr. Shapoor Mistry brings with him more than 20 years of corporate experience spanning several continents and diverse industries including construction, shipping, banking, manufacturing and offshore oil and gas.

Upon graduation, he joined his family owned Shapoorji Pallonji and Company Limited, the flagship of the SP Group, of which he is now a non-executive chairman. He was involved in the construction business in the early eighties, following which he restarted the real estate activity, both residential and commercial, under the real estate wing of the SP Group, with award winning developments, in India. He oversaw the takeover of the Tata Group’s Forbes Gokak business in 2001. He is presently also the chairman of Forbes & Company Ltd listed on the Bombay Stock Exchange, involved in engineering, shipping, logistics, warehousing and multi modal transportation among others and a chairman of Eureka Forbes Ltd, a non-listed public company, involved in air purifiers and security systems. He has been involved in diverse investments and businesses including textiles, logistics, shipping, precision tools, steam turbines, turbo generating sets, publishing and real estate.

Mr Shapoor Mistry also holds directorships in various other private and public companies under the Shapoorji Pallonji group. The Shapoorji Pallonji group are partners in two joint venture entities incorporated in India together with Bumi Armada, which own and operate two FPSOs located in the D1 and C7 blocks, offshore India (JV Cos). He is also one of the major patrons of the Royal Western Indian Turf Club and is actively involved in various philanthropic and charitable activities and is a trustee of the Masina Hospital and is a member of the Duke of Edinburgh’s International Awards World Fellowship.

Mr. Ravi Shankar age 60, holds a Masters Degree in Commerce, University of Madras, India and is a Fellow of The Institute of Chartered Accountants (FCA), UK and a Fellow of The Insurance Institute, London (FII). He is presently the Regional Director of Forbes and Company Ltd. He is also the Head of Business Initiatives for Shapoorji Pallonji & Company Limited primarily in the Oil & Gas sector. He had previously worked in Malaysia as Regional Director, Finance and Business Development for the Norwegian shipping giant, Wilh. Wilhelmsen ASA.

Tunku Ali Redhauddin, Chairman of Bumi Armada, in welcoming both Mr Shapoor Mistry and Mr Ravi Shankar on the Board, said “Members of the Board will value the commercial experience, expertise and insight, particularly in the construction, shipping and oil and gas support services industry, which both Mr Shapoor Mistry and Mr Ravi Shankar will bring with them.”

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

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