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White knight to rescue Sapura Energy from financial abyss
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[Image: 512befd4-sapura-3500_sapura-energy-bhd-email.jpg]


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.

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