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Malaysian govt faces dilemma on Sapura Energy bailout
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Malaysian offshore energy contractor Sapura Energy ranks as the largest rig owner in Asia outside of China.
PHOTO: SAPURA ENERGY
KUALA LUMPUR - Prime Minister Ismail Sabri Yaakob's government is facing a dilemma over the financial meltdown at Malaysian offshore energy contractor Sapura Energy, which ranks as the largest rig owner in Asia outside of China.
Sapura Energy posted one of corporate Malaysia's worst set of results this month, declaring a net loss of US$2.1 billion (S$2.8 billion) for the financial year ended January 2022.
