THE investigation into Sapura Energy Berhad (Sapura Energy) regarding allegations of bribery and mismanagement within the company must be conducted transparently, fairly, and professionally without interference from external parties, said Datuk Mohd Ridhwan Mohd Ali, President of Gerakan Belia 4B Malaysia.
He expressed concern over the government’s approval of a RM1.1 bil loan to Sapura Energy despite its unconvincing financial performance.
Ridhwan highlighted that Sapura Energy received RM2.68 bil through a share investment by Permodalan Nasional Berhad (PNB) in 2018.
Yet the company’s performance continued to decline, with its share value now at around 5 sen per unit compared to 26.5 sen at the start of that year.
He questioned the company’s significance, asking, “What is the importance of this company compared to other bumiputera companies or government-linked companies?”
Ridhwan added that the investigation must be conducted transparently to determine where the expenditure funds were channeled.
Additionally, he suggested that Sapura Energy’s key assets should be pledged to the government as part of the company’s direction in 2025.
“If the company continues to incur losses, the government should no longer bail it out, and those assets should remain with the government,” he said. — Focus Malaysia
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