Minister of Finance Incorporated (MoF Inc), an entity under the Finance Ministry, may step in to assist financially struggling Sapura Energy Berhad.
Business weekly TheEdge, citing sources familiar with the matter, said discussions are being made for some form of "assistance package" which could include a grant.
The report said Finance Minister Tengku Zafrul Abdul Aziz had been working on the proposal.
Former prime minister Najib Abdul Razak had been lobbying for a bailout of the oil and gas firm.
The public-listed firm has attracted public attention due to the large amount of investment which Permodalan Nasional Berhad (PNB) has sunk in, primarily through Amanah Saham Bumiputera and Amanah Saham Malaysia.
Among the options that have been suggested is for PNB to pump more money into Sapura Energy or for state-owned Petronas to come to its aid.
However, the report said PNB ploughing more money into Sapura Energy would be unpopular as unitholders in its Amanah Saham are already not earning dividends from the investment in the firm.
PNB had pumped around RM2.7 billion into Sapura Energy and lost almost 90 percent of the investment as the firm's share price collapsed.
The report said it also did not make sense for Petronas to take over Sapura Energy, which is one of its contractors. - Mkini
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