PMX’s berkotak kotak dokumen against Atuk also cannot show.  Cannot even provide evidence when accuse Atuk corrupt until court case… not to mention the #of DNAA given…. Sabah corruption case until …. Still got hope to find meh?  Easier to find a needle in a haystack then to find hanky panky.  😂😂😂😂😂😂😂

Another penjilat atok read more syarikat perkapalan konsortium how atok bailout his son commit suicide if papa no help🤭😂🤣🤣

Hahaha… ok.  I know all about Atuk and Shapadu case also.  I was from that era.  Hence I do not trust Atuk nor PMX.  I don’t lick anyone not do I want to.  But heck, if it makes ur day to accuse blindly, go ahead!  😉

Atok is very clever bab manipulation. That is why very difficult to charge him always using proxy and crony to launder money in the name of national interest when in actual fact it is to enrich his children. Just connect all the dot you will know🤭🤭🤭😂

I do not disagree.  But PMX is the one who said got berkotak kotak and recently accuse Atuk corrupt.  Atuk asked for evidence, tada pula show.  Until Atuk troll him by searching his house for cash…. And sue him… with all the resources at his finger tips, PMX kenot connect the dots or he just tokok sing song like his days during BN1.0, PR, etc… u be the judge.  I know who to trust if I were forced to choose between these two political foes.  I trust a doctor than a tin kosong linguist.  😉

Sabarlah, the court case still ongoing. During trial we will know what atok has been doing using all kinds of loopholes to accumulate wealth for his children and cronies🤭🤭🤣

MOF injects RM1.1 bil to settle Sapura Energy's debts

KUALA LUMPUR (March 11): Debt-laden Sapura Energy Bhd (KL:SAPNRG) has received a lifeline in the form of a RM1.1 billion investment from the Minister of Finance (Inc) through its special purpose vehicle Malaysia Development Holding Sdn Bhd (MDH).

In a filing with Bursa Malaysia on Tuesday, Sapura Energy said MDH will be subscribing to its redeemable convertible loan stocks worth RM1.1 billion, subject to certain conditions.

The monies have been earmarked exclusively for settling what Sapura Energy owes its vendors

part” of its restructuring that would see a capital injection of up to RM1.8 billion into the Sapura group through a subscription of redeemable convertible loan stock.

Last month, Sapura Energy, a Practice Note 17 (PN17) company, secured its creditors' approval for its proposed debt restructuring scheme involving Sapura Energy and its 22 subsidiaries to address RM10.8 billion owed to nine lenders of its multi-currency financing facilities and RM1.5 billion in outstanding trade creditor payments.

Following that, Sapura Energy also obtained the court's approval last Thursday for the debt restructuring plan.

The funding and court-approved debt restructuring plan form part of Sapura Energy’s regularisation plan, as the company works to exit its PN17 status and reposition itself for long-term growth.

“We are diligently working on a robust regularisation plan, which will bring us one step closer to exiting our status as a PN17 company,” Zamri said.

“We see Sapura Energy’s turnaround as part of the revitalisation of the Malaysian OGSE (oil and gas services and equipment) sector, ensuring it is better positioned to support the nation’s energy security and sustainability goals, ultimately contributing to Malaysia’s economic development,” he added.

Shares of Sapura Energy closed unchanged at 3.5 sen on Tuesday, with a market capitalisation of RM643.2 million.

For the first nine months of FY2025, Sapura Energy posted a net loss of RM342.96 million, compared to a net profit of RM213.18 million a year before, while revenue increased 10.6% to RM3.54 billion from RM3.2 billion.

As at end-October 2024, the group’s borrowings stood at RM10.73 billion. Trade and other payables totalled RM5.18 billion, while cash, deposits and bank balances stood at RM1.79 billion. Its accumulated losses increased slightly to RM17.53 billion from RM17.24 billion.

The group’s order book currently stands at RM6 billion, while its joint ventures hold an additional RM5.8 billion.

source

Kerajaan prihatin...owai

Madefaka stop bailing out cronies la.. dcking waste of taxpayers money…

Investing in loss making company

Watdaphuck

bestnya kompeni orang kito, kalau rugi mof kasi settle

untung, semua saya punya

Tongkat is real

there goes our tax payer money

kito tolong kito, jgn dipersoal

Why are we paying for this shit? Madani takde otak ke?

Sapura hutang lebih 2000 vendor. Majoriti bumiputera.
Vendor dah keluar modal, buat kerja, kerja siap, Sapura tak bayar!
Dari 2000 vendor ada puluh ribu keluarga!

Bail-out kali ini spesifik supaya Sapura bayar hutang bukan bagi bonus pd Pengarah.
Banyak beza dgn bail-out dulu.

Well, MACC has confirmed they do not detect any anomaly from his sons’ finances and wealth.  Says a lot.  Though we know better…. Sic!

BTW, in case u think PMX is all angel, look up on his cases during BN1.0.  There is a lot to read.  And believe me, a leopard will NEVER change its spots.  We saw this during Atuk 2.0!  Hahahhaa ….. again, I am not whitewashing Atuk but the other side is also of the same boat, if not worst.  Look how he became rich in a short time when he was in BN1.0.  DAP, the rocket and Aliran has a lot of dirt printed. 
Anyway, not for me to say more cos later I am accused of trying to convert people to be PN/BN/MCA etc.  just read up with open mind.  U will then know the dirt.  Peace!

Chosen race has many perks

Wish I was the chosen race

Of course no politician is saint having gone through all the hardship you think one will be stupid to let go those who imprisoned for many times. If old Anwar sure corrupt like atok but having tasted the lowest in life for sure will be smart not to repeat the same mistake. Of course some will remain the same. Look at his action rather than his words

I think, because their vendors all are 100% milik bumi, so MOF come out to give money to settle the vendors debt.

RM1.1 billion Duit Rakyat Bail-Out Sapura Energy
1. RM1.1 bilion suntikan tunai yang Sapura Energy umumkan semalam datang daripada Kerajaan melalui Malaysia Development Holdings Sdn Bhd (MDH), anak syarikat milik penuh Kementerian Kewangan Diperbadankan (MOF Inc).

2. Dalam pengumuman SapEn semalam, condition precedence atau syarat dalam perjanjian dengan MDH untuk dapat funding ni adalah kena bayar syarikat penyedia perkhidmatan minyak dan gas (O&G) atau O&G vendors di Malaysia yang SapEn ada hutang.

3. Bermakna duit RM1.1 bilion daripada Kerajaan tidak boleh digunakan untuk benda lain contohnya bayar hutang bank, bayar gaji atau top management, bayar dividen kepada pemegang saham atau lain-lain.

4. Secara tidak langsung RM1.1 bilion ini adalah untuk membantu vendors yang dah buat dan tengah buat kerja untuk SapEn.

5. Ada 2,300 vendors yang buat kerja untuk SapEn, dan hampir 80% atau 1,800 vendors adalah syarikat kecil dan sederhana (SMEs) dan kalau mereka tidak dibayar ramai yang akan terkesan terutamanya pekerja-pekerja yang bekerja dengan vendors ni semua.

6. Berbeza dengan hutang-hutang dengan bank-bank besar yang boleh distruktur semula, syarikat SMEs tidak mempunyai kekuatan untuk menangguh penerimaan pembayaran tanpa menjejaskan operasi dan kelangsungan mereka.

Apakah Kerajaan rugi dalam menanggung pembayaran kepada vendors?
7. Mekanisme pembiayaan oleh MDH kepada SapEn adalah melalui Redeemable Convertible Loan Stocks secara ringkasnya adalah satu bentuk pinjaman bersyarat yang boleh ditukarkan kepada saham di suatu masa yang ditetapkan akan datang.

8. Setakat laporan kewangan suku tahunan terakhir yang diumumkan SapEN, mereka mempunyai RM6.0 bilion order book atau nilai kerja dan RM5.8 bilion order book melalui joint venture & associates.

9. Bila vendors dibayar, maka kerja-kerja yang sekarang tengah buat boleh diteruskan termasuk vendors akan terus buat kerja untuk SapEn.

10. Dalam masa yang sama SapEn sedang menjalani Regularisation Plan termasuk untuk keluar daripada status PN17 dalam Bursa Malaysia.

11. Pembiayaan daripada Kerajaan adalah sebahagian daripada Regularisation Plan dan bila berjaya, saham SapEn berpotensi naik semula dan masa tu MDH boleh convert RM1.1 bilion hutang ini kepada saham dan meraih untung sebagai salah satu pemegang saham.

12. Kalau kedudukan kewangan SapEn semakin pulih, mereka juga ada pilihan untuk membayar semula RM1.1 bilion kepada MDH tanpa hutang ini ditukarkan kepada saham.

Bail-out ke tak?
13. Bergantung, pada perspektif yang nak dilihat. Pada aku SapEn punya hutang atau liabiliti tidak berkurang, sebab RM1.1 bilion tu akan dibayar kepada vendors yang terdiri daripada syarikat SMEs dan RM1.1 bilion ini masih kekal sebagai liabiliti dalam akaun.

14. Ini berbeza dengan cadangan untuk Petronas atau Khazanah mengambil alih SapEn atau memberi pinjaman mudah (soft loan) kepada SapEn yang memberi risiko secara langsung kepada duit rakyat kalau SapEn gagal memulihkan kedudukan kewangan mereka.

15. Korang kena tau, Sapura Energy setakat laporan kewangan suku tahunan terakhir masih ada RM17.5 bilion liabiliti iaitu RM10.7 bilion dalam bentuk pinjaman (bank, bon, trade credit) dan RM5.1 bilion trade payables.

16. RM1.1 bilion adalah keutamaan semata-mata kepada syarikat-syarikat kecil dan sederhana yang tidak mendapat bayaran atas kerja dan perkhidmatan yang diberikan kepada SapEn.

17. Lebih baik buat macam ni daripada bail-out terus secara keseluruhan dan biar SapEn teruskan regularisation plan mereka.

Khalas.

Sabarlah, the court case still ongoing. During trial we will know what atok has been doing using all kinds of loopholes to accumulate wealth for his children and cronies🤭🤭🤣

His actions so far is DNAA, Islamisation of the schools and economy(remember he wants JAKIM input into the budget?), fast forward bossku addendum and 50% discount, world tours without any tangible results, public reprimand of the Indian lady who ask him about quota, …. What else? Oh Palestine… 😂😂😂😂😂😂

Asyik mintak delay sudah 2 tahun atok tunggu wey.

DNAA is happening even more during 33 months tenure, as long as not influence student on their study nothing wrong that is the prerogative of Agong it is not the first time giving pardon. Takkan Agong gave discount you blame the government? Why you no dare blame YDPA? It takes times for investments to yield result. When the previous government doing all nonsense total deafening silent. Stop being HYPOCRITE🤭🤭🤭🤭