Someone wrote this in X. Judge yourself. Wood you invest in a sinking ship? I know I will not. 😉


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Its well known that SE is a sinking ship, yet these vendors still go head and do business with them is beyond me, whenever my company receive RFQ from SE, we wont even respond, straightaway go thrash.

Anwar from 2008 and 2013 campaigns would critize such moves during ceramah. But not 2025 Anwar.

Same as SD…. 😂😂😂😂😂

Greed. And we are supposed to pay/suffer for their ‘greed’.

This is business. In bank, this is called bad debts/NPL. And yet, well…. Enough said.

Not 2013… he had a debate recently before the fall of BN( if I can recall correctly), and was against this and ask for a ‘forensic audit’…. I will be v v v surprised that the forensic audit of this company and its management can result in ‘strategic investment’….. lol…

This post has been edited by fongsk: Mar 13 2025, 07:46 PM

Vendor are smart lar.. now they get paid..

some been owed for many years already kawan..

it is not paid to Sapura but the 2000 vendors that already done the job but Sapura didn't pay the vendors.

bro, dont underestimate the margin they charge. Else how to lost this much of money..

A bailout by any other name (strategic investment 😁) is still a bailout. No matter how they try to spin it. Taxpayers just have to suck it in.

So we the taxpayer pay their vendors for something services/products that we did not order/benefit from? Wow, can u pay for my omakase lunch tmr ? 😂😂😂😂. Nah, just horsing with you on the omakase lunch stuff….

item delivered of course need to pay

Madani macai overtime now, busy to agree this Madani action

This post has been edited by ayamxxx: Mar 13 2025, 08:31 PM

Items not delivers to us. So why must we pay?
Item is delivered and installed and payment made to the company. But the companies misused the payment, I suppose. Now we the innocent taxpayer have to pay for the company’s mismanagement? Really? Who is so stupid?

Didn’t formula-man once said that this can be resolved without bailout? Has he been consulted for his formula? If no, WHY? If yes, why don’t use his formula?


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When politicians want, have 101 reasons. This is a bail out by any other means. Double headed snake couldn't be trusted.

This post has been edited by icemanfx: Mar 14 2025, 12:17 AM

For companies like these 100% payment Cash in Advance and not a cent short.

Right, usual practice some required 30% or 50% up front payment upon confirmation of order & another 50% / 70% upon delivery, for goods lar.

RM1.1 billion injection into Sapura a loan, not sunk cost
Bernama
13 March 2025

PUTRAJAYA: Prime Minister Datuk Seri Anwar Ibrahim has emphasised that the RM1.1 billion injection into Sapura Energy Bhd is a loan, not a sunk cost, and must be repaid.

“Is this a sunk cost? No.

“This injection serves as loan capital to hopefully enable the new management to operate more effectively, turn a profit, and repay the RM1.1 billion.

“It is not merely a fund injection but a structured loan,” said Anwar, who is also Finance Minister, at the Ministry of Finance (MOF) Joint Assembly today.

He said the decision followed a rigorous process, including a forensic audit by international accounting firm, Ernst & Young, to assess the company’s real challenges.

Anwar said the funds were channelled specifically to vendors who had completed work but had not been paid, rather than directly to Sapura Energy.

“The RM1.1 billion is meant for vendors. Of the roughly 2,000 vendors, 80 per cent are Bumiputera.

“Why should they be penalised? This is their right, and they must be paid.

“If we allow Sapura Energy to go bankrupt, what will happen? It is the only Malaysian oil and gas company capable of operating at this level.

“If it shuts down, all downstream activities and lower-tier operations will be taken over by foreign companies,” he said.

Anwar said the decision to assist Sapura Energy was not about rescuing a large company or its management.

Instead, he stressed that the previous leadership, including the chairman and senior management, must step down and be replaced by a new team.

“We will ensure that all investigations, including those into possible malpractice and abuse of power, continue.

“That is not our concern. What matters is that vendors receive what they are owed,” he said.

Anwar also reaffirmed his long-standing opposition to corporate bailouts.

“I have been one of the toughest critics of bailouts since the beginning of my involvement in government.

“But in this case, we made a careful decision, taking into account the interests of local vendors and ensuring stronger management moving forward.

“Do not claim that Anwar has betrayed trust or become a tool of big business. That is a lie born of ignorance and a refusal to acknowledge the facts.

“When we criticised Sapura Energy three or four years ago, you may recall my debate with Datuk Seri Najib Tun Razak. I said, ‘Do not bail them out’,” he added.

On Tuesday, it was reported that Sapura Energy had secured RM1.1 billion in investment through the subscription of redeemable convertible loan shares (RCLS) at nominal value by Malaysia Development Holdings Sdn Bhd (MDH).

Sapura Energy said it had entered into a conditional financing agreement with MDH, marking a significant step in its financial restructuring and reinforcing its commitment to long-term sustainability.

MDH, a special purpose vehicle of the Minister of Finance (Incorporated), stated that the funds would be used solely to settle liabilities owed by the Sapura Energy Group to Malaysian service providers operating in or supporting the oil and gas sector. – BERNAMA

Source: https://www.sarawaktribune.com/rm1-1-billio...unk-cost-anwar/

Me too how i wish