No solutions given by Anwar except for conducting a forensic audit for a dying GLC with a one-month deadline
Kuala Lumpur – In what is reminiscent of his time as Malaysia’s 6th prime minister, Najib Razak told a Live audience during the Debat Perdana Anwar-Najib that what the country needs is economic transformation and not just rhetorics.
Najib was obviously taking a swipe at opposition leader Anwar Ibrahim’s going around the bush on only one point: to not support the elites and take those responsible for dying GLCs to task.
On the subject of Sapura Energy, the primary reason the debate was held, Najib suggested for the company to be taken over by Petronas. He said Petronas can then sell the company when Sapura makes profits. “When the company is better off, they can sell the company and make profits,” he added.
Najib said this can also be seen in US. “I am optimistic the country will profit from this,” he added.
However, Anwar rebutted that even Petronas belongs to the rakyat and he called for full forensic audit to find the cause for the oil and gas company to lose billions. Anwar said it is time to stop abuses or misuse will continue. He called for integrity and good governance.
He said Sapura being a Bumiputera company should not be used as an excuse to save it.
Sapura Energy posted a net loss of a whopping RM8.9bil for the financial year ended Jan 31, 2022, compared to RM160.87mil a year ago.
Revenue for the period under review fell by 22.8% to RM4.13bil from RM5.35bil.
The oil and gas service provider is also saddled with debt to the tune of RM10.3bil.
On March 30, the firm announced that it has refinanced it’s RM10.3bil debt for a tenure of seven years by executing multi-currency financing facilities agreements—signed with a consortium of Malaysian, regional and international banks.
This was done through its wholly-owned Sapura TMC Sdn Bhd and included a Conventional Facility Agreement and an issuance of unrated Sukuk Murabahah.
The company and several of its subsidiaries were also recently served with winding-up petitions over non-payment issues.
The Debat Perdana was attended by a crowd of around 400 who arrived at the Malaysia Tourism Centre (Matic) here for the debate and were subject to strict security checks.
Guests, comprising government and opposition politicians and fellow party members, academics, journalists and members of the public trickled in from 7pm, finding their seats in the complex’s Tuanku Abdul Razak hall.
Among the faces present include Umno president Zahid Hamidi, party secretary-general Ahmad Maslan, Mohamed Khaled Nordin, Noh Omar and Perak Menteri Besar Saarani Mohamad.
From the opposition, attendees include PKR’s Fahmi Fadzil, Sivarasa Rasiah and Adam Adli, along with DAP’s secretary-general Anthony Loke, Nga Kor Ming and Young Syefura Othman. – New Malaysia Herald
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