Sapura Energy’s vendors to benefit from RM1.1bil investment

Quick Summary:

KUALA LUMPUR: Sapura Energy Bhd (SEB) has entered into a conditional funding agreement (CFA) with Malaysia Development Holding Sdn Bhd (MDH), securing up to RM1.1bil in nominal value of redeemable convertible loan stocks (RCLS).

In developing the proposed Regularisation Plan, SEB is undertaking a comprehensive due diligence process in alignment with the Malaysian Code on Corporate Governance 2021.

MDH, a special purpose vehicle of the Minister of Finance (Incorporated), has stated that the proceeds from the subscription will be solely used to settle liabilities owed by the SEB Group to Malaysian service providers in the oil and gas sector.

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Article Details

Category: EconomyBusiness

Markets: Malaysia

Topics: Oil and gas Minister of Finance Inc MDH Sapura Energy Corporate News Malaysia Development Holding /Business/Business News

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-03-11 @ 20:54:00 (16 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 643 words

Reading Time: 4 minutes read

Sentences: 22 lines

Sentence Length: 30 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Star

News ID: 26891975

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