PUTRAJAYA, 13 March 2025 – Prime Minister Datuk Seri Anwar Ibrahim today emphasized that the new RM1.1 billion capital injection by the Federal Government into Sapura Energy Berhad (SEB) is specifically aimed at settling the company’s debt payments to 2,000 small and medium enterprise (SME) vendors in the local oil and gas sector, the majority of whom are Bumiputera companies. He made this statement during his speech at the Monthly Assembly of the Ministry of Finance Malaysia (MOF).
According to Anwar, this capital injection is part of SEB’s restructuring efforts and is not intended to benefit the company’s shareholders or management. Instead, it is being implemented to assist local workers who have long been unpaid for their services, thereby safeguarding the ecosystem of the domestic oil and gas industry.
“It is crucial for me to stress that this capital injection does not in any way benefit SEB’s shareholders or management. In this restructuring process, the previous major shareholders are no longer involved in the company’s management, and a new, professional management team has been appointed to carry out SEB’s recovery efforts,” he said.
He further explained that an audit process has already been conducted, and additional due diligence will be carried out as a prerequisite before finalizing the capital injection. The findings of the due diligence, he added, will be shared with enforcement agencies such as the Securities Commission to determine if any action needs to be taken against any parties.
At the same time, Anwar reiterated the MADANI Government’s commitment to transparency and good governance practices. He noted that SEB’s restructuring has received creditor approval and undergone court processes, clarifying that the government’s capital injection is not a grant but a strategic investment to restore the oil and gas ecosystem, which is vital to the national economy.
“The government remains committed to ensuring transparency in the management and recovery of SEB, which is for the benefit of the people and Malaysia’s economy as a whole,” he said.
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