White knight to rescue Sapura Energy from financial abyss - Printable Version +- Ipoh Community Forums (https://forums.ipoh.com.my) +-- Forum: News and Current Affairs (https://forums.ipoh.com.my/forum-11.html) +--- Forum: Local News (https://forums.ipoh.com.my/forum-12.html) +---- Forum: Business. Economy and Investment (https://forums.ipoh.com.my/forum-60.html) +---- Thread: White knight to rescue Sapura Energy from financial abyss (/thread-7718.html)

White knight to rescue Sapura Energy from financial abyss - superadmin - 03-21-2023 PETALING JAYA: Sapura Energy Bhd has found a white knight riding on the back of RM1.8 billion in capital injections to begin the arduous task of rebuilding its battered finances. The oil and gas (O&G) services group said it had received a “formal letter from a white knight” last month indicating it would provide financial support to Sapura Energy, subject to certain conditions, according to a court document sighted by The Edge. “On Feb 15, 2023, Sapura Energy received a formal letter from a white knight supporting Sapura Energy’s restructuring initiatives to preserve the Malaysian O&G ecosystem. - More -