PETALING JAYA: Graft investigators have opened two investigation papers on Sapura Energy Bhd following allegations of corruption and misappropriation of funds, says the Malaysian Anti-Corruption Commission (MACC). Confirming this, its chief commissioner, Tan Sri Azam Baki, said that the investigation would also examine whether money laundering was involved and the issue of governance within the company. ALSO...
PUTRAJAYA: Malaysia Development Holding Sdn Bhd's (MDH) RM1.1bil investment into Sapura Energy Bhd is not a government bailout but a strategic investment towards sustainability, according to government spokesperson Datuk Fahmi Fadzil. The MDH is a special purpose vehicle of the Finance Ministry. This statement follows Sapura Energy's announcement that MDH would subscribe to its redeemable convertible loan...
KUALA LUMPUR: Sapura Energy Bhd has clarified that the timeline for the completion of its proposed regularisation plan mentioned in an article carried in StarBiz 7 on Nov 23, 2024, remains an aspirational target. In a statement, the group said the target was "overly optimistic and conditional, among others, upon the approvals required for the proposed...
