PETALING JAYA: Permodalan Nasional Bhd (PNB) issued an eight-point statement to justify that the government’s RM1.1bil capital injection into Sapura Energy Bhd
is not a “bailout”.
PNB is an existing significant shareholder of Sapura Energy.
The first point highlighted in the statement was that the funds from the government will be exclusively used to repay local vendors. It said Sapura Energy has more than 2,000 vendors, many of which are small and medium enterprises and employ approximately 59,000 core employees in the oil and gas (O&G) industry.
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