Govt must push banks for ‘haircut’ on Sapura’s loans, says Shahril

Free Malaysia Today

The former Umno information chief says the RM1.1 billion injection will not solve the company’s core financial issues.  Read More: https://www.freemalaysiatoday.com/category/nation/2025/03/17/govt-must-push-banks-for-haircut-on-sapuras-loans-says-shahril/  Free Malaysia Today is an independent, bi-lingual news portal with a focus on Malaysian current affairs.    Subscribe to our channel - http://bit.ly/2Qo08ry   ------------------------------------------------------------------------------------------------------------------------------------------------------ Check us out at https://www.freemalaysiatoday.com Follow FMT on Facebook: https://bit.ly/49JJoo5 Follow FMT on Dailymotion: https://bit.ly/2WGITHM Follow FMT on X: https://bit.ly/48zARSW  Follow FMT on Instagram: https://bit.ly/48Cq76h Follow FMT on TikTok : https://bit.ly/3uKuQFp Follow FMT Berita on TikTok: https://bit.ly/48vpnQG  Follow FMT Telegram - https://bit.ly/42VyzMX Follow FMT LinkedIn - https://bit.ly/42YytEb Follow FMT Lifestyle on Instagram: https://bit.ly/42WrsUj Follow FMT on WhatsApp: https://bit.ly/49GMbxW  ------------------------------------------------------------------------------------------------------------------------------------------------------ Download FMT News App: Google Play – http://bit.ly/2YSuV46 App Store – https://apple.co/2HNH7gZ Huawei AppGallery - https://bit.ly/2D2OpNP  #FMTNews #ShahrilHamdan #SapuraEnergy

Transcript

00:00What's your suggestion, Sharyl?

00:02I think you gotta push the bank to accept the haircut.

00:06Accepting the haircut means that the bank should reduce the debt.

00:11Usually, there will be a vote for the bank to take the haircut or reduce the debt.

00:18Usually, in this bank industry, when we give a loan,

00:22whether it's interest, the bank also needs to accept the risk that

00:26not all of the loans will be returned.

00:29That's part of the financial system.

00:31So, the bank has to accept that if I get 10 billion back, I'll only get 5 billion.

00:35So, somehow, the government has to push that with certain pressures and certain messages.

00:41That's the first thing.

00:43Second, I think we need to be honest.

00:46If there's an asset stripping exercise that needs to happen,

00:49I think we need to do it.

00:50Because what Dato' Sinajib suggested is a bargaining chip.

00:54Whether it's Petronas, Kazanah, or the Malaysian government in general,

00:59to take a bargain for reasons to protect,

01:02a similar phrase, about vendors, suppliers,

01:05about the oil and gas ecosystem, etc.

01:08That's his suggestion. Take over the company entirely.

01:11What's happening today is not a direct bargaining chip.

01:14It's just an investment in the form of a loan.

01:17So, in terms of mathematics,

01:19Dato' Sinajib himself, taking 1.1 billion to deal with 1,000 or 2,000 suppliers,

01:24will not solve the basic problems in Sapura.

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