TANGGUH SAGO OPERATING LIMITED

• ◆

  2 PSCs ceased in last 24 months

  Significant control changed hands — see the Ownership section.

Accounting basis

IFRS

Reporting scope

Standalone (parent only)

Auditor

KPMG LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“Although the Company has net current asset of $0.8 million (2023 - net current asset of $3.9 million), on the basis of the directors' assessment of the Company's financial position and of the enquiries made of the directors of Seapeak BLT Corporation as immediate parent company, the Company's directors have a reasonable expectation that the Company will be able to continue in operational existence for the foreseeable future. Therefore, the Company continues to adopt the going concern basis of accounting in preparing the financial statements.”

Significant events

• “At 31 December 2024, there is a performance bond relating to the Company's leased vessel totalling $2.8 million (2023 – $2.8 million) whereby the charterer of the vessel can demand to have these bonds paid based on certain conditions occurring. This performance bond has been guaranteed by Seapeak LLC.”
• “The Company has an ongoing matter with UK tax authorities (HMRC) which involves the Company's tax treatment of the purchase of a time-charter agreement from a related party in 2008 and such matter was last reviewed by HMRC's Dispute Resolution Board in October 2020. In October 2022, HMRC issued closure notices to the Company for the 2010 to 2018 taxation years. (...) Due to the uncertainty associated with such uncertain tax positions, it is possible that at a future date, on conclusion of these open tax positions, the final outcome may vary significantly, with the additional potential tax liability that may be incurred in the range of nil to $10.5 million, excluding interest...”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

7

last 12 months

Capital events

0

last 24 months

Officers appointed

0

last 12 months

Officers resigned

0

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.