Sapura Energy's RM1.1bil injection includes management changes

The Star

Due diligence and conditions including a complete restructuring of Sapura Energy Bhd's top management were conducted before the RM1.1bil capital injection into the company, says Prime Minister Datuk Seri Anwar Ibrahim.   Read more at https://tinyurl.com/2y62mvvk   WATCH MORE: https://thestartv.com/c/news SUBSCRIBE: https://cutt.ly/TheStar LIKE: https://fb.com/TheStarOnline

Transcript

00:00There is one thing that I am a bit upset about, and it is about the current situation.

00:05Two things that I see being made into a political topic in the last 2-3 days is the issue of

00:11Sapura Energy, which was able to extract 1.1 billion ringgit from the government.

00:18So, he said that NUA was really against the bailout.

00:22Indeed, if I were to make a choice,

00:26I would not be happy with the way we saved a large company.

00:3210,000 small companies that sometimes go bankrupt are not taken into consideration.

00:38But in this case, we need to know that we can criticize and attack.

00:45It is not a life-saver like it was originally planned.

00:51We started with a forensic audit,

00:55to know for sure what the problem is.

00:59And the investigation, if there is a mistake, misuse of power or negligence,

01:07that is continued. I also saw it 2-3 days ago,

01:11it is continued. That is not our business, we only ask for an investigation.

01:15So, all agencies involved must investigate whether there is a failure.

01:21Thirdly, we do not give the company a chance.

01:25That 1.1 billion, especially to the vendors that have worked,

01:31around 2,000, 80% of them are Putra land vendors,

01:37who have given food. How should they be punished?

01:41In the political world, if I do not help, it is treason.

01:45He is no longer helping to fight for Putra land,

01:51he is only a speech therapist.

01:53This is wrong.

01:57If we do it, he says, we help.

02:00I do not help to save rich people.

02:05The money is sent directly to the vendors who have worked,

02:11and have not received payment.

02:19So, what if we say, let them all go bankrupt?

02:24What will happen?

02:25This is only one company,

02:29Whirling Gas Malaysia,

02:31that can operate under its implementation.

02:34If it is closed, it means that there is no company that can handle it.

02:40It means that all activities under its implementation

02:51are foreign companies.

02:54So, we have a problem now.

02:56This bailout does not save a large company from its management.

03:01The chairman of the right-hand management must leave.

03:04That is our condition.

03:05It must be replaced with a new chairman.

03:08And if there is a problem related to the need for investigation,

03:15it must be continued. That is our business.

03:20So, this is our consideration.

03:24In my opinion, we must choose.

03:28Do we have to punish 2,000 companies

03:32that have worked and it is not their fault?

03:35Punish the wrongdoers, not them.

03:38Therefore, the money must be invested,

03:40not to clean companies, but to vendors.

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