00:001.1 Billion Ringgit cash injection by the government into Sapura Energy Berhad,
00:07along with strict conditions that ensure that the oil and gas supply providers
00:12cannot be at odds with each other, according to analysts.
00:16Imran Yusof, Director of Investments at MIDF Amana Investment Bank,
00:21said the rescue package cannot be interpreted as a bailout,
00:26as stated by half-parties.
00:28He insisted that the capital injection was accompanied by certain conditions,
00:34including that it can only be used to pay debts to company vendors.
00:39Imran said the funds can be seen as a strategic investment
00:44for the safety of the Malaysian energy sector,
00:47and not just an investment in Sapura Energy.
00:50He said this capital injection can ensure that the supply chain
00:55and Malaysian oil and gas ecosystems are not affected and remain intact.
01:00At the same time, Sapura Energy announced that
01:03Malaysia Development Holding Sendurian Berhad,
01:06a private target company under the Minister of Finance,
01:09will sell loans that can be transferred at the value of 1.1 billion ringgit
01:15under certain conditions.
01:18This means that the government does not grant grants but loans to Sapura Energy
01:23that can be transferred to the holding of the shares if the performance improves in the future.
Comments