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Politics trumps economic reform pledge in PM Anwa .. 230 million 'bailout' of debt-laden Sapura Energy
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Politics trumps economic reform pledge in PM Anwar's US$230 million 'bailout' of debt-laden Sapura Energy

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  Print publication without navigation Published in Politics and Government on by CNA
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Malaysia Prime Minister Anwar Ibrahim is taking the heat for rescuing debt-laden oil and gas services firm Sapura Energy. Observers say it may set a dangerous precedent for other companies unable to meet their obligations.
Malaysia's Prime Minister Anwar Ibrahim has stated that the government will not provide a bailout for Sapura Energy, a struggling oil and gas services firm, despite its significant debt and the potential impact on the economy. Instead, Anwar emphasized that the government's role is to facilitate discussions between Sapura Energy and its creditors to find a solution. This stance comes as Sapura Energy, which has been facing financial difficulties, recently announced a restructuring plan involving a debt-to-equity swap and the sale of assets. The company's financial woes have raised concerns about job losses and the broader economic implications, but Anwar insists that the government will not directly inject capital into the company.

Read the Full CNA Article at:
[ https://www.channelnewsasia.com/asia/malaysia-sapura-energy-anwar-capital-injection-bailout-5015276 ]