With RM4 bil from investors…Will Shahril turn things around at Sapura Energy?
KUALA LUMPUR: With RM4 billion originating from the as of late affirmed rights issue that will raise about RM4 billion to pare down obligations, Tan Sri Shahril Shamsuddin, president, and CEO of the organization of Sapura Energy Bhd is certain of turning the gathering around.
In Nov 2018, Sapura Energy reported that its units Sapura Fabrication Sdn Bhd and Sapura Saudi Arabia had been chosen by the Saudi Arabian Oil Company (Saudi Aramco) for a Long-Term Agreement (LTA) program, which would empower Sapura Energy to anchor building, acquirement, creation, transportation, and establishment (EPCI) contracts to help Saudi Aramco’s seaward tasks, which could be a rewarding proposition.
Additionally, Sapura Energy announced November month the sale of a half stake in its investigation and generation unit for conceivably US$800 million or RM3.32 billion in real money to Austrian stalwart OMV Aktiengesellschaft.
No doubt things are looking encouraging for the oil and gas assemble once more.
Truth has been told, Shahril has said that Sapura Energy would turn the corner by Money related year finishing Jan 31, 2020. This comes after the organization endured an RM2.50 billion overall deficit from RM5.89 billion in income for its year finished January 2018.
Its enhanced accounting report will surely help in its recovery.
Peruse whatever remains of the story in the most recent issue of The Edge.
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