The Kuala Lumpur High Court has granted Sapura Energy Bhd and 22 of its wholly-owned subsidiaries two orders under Section 366 and 368 of the Companies Act 2016 on Thursday (March 10) to restructure its debts and settle outstanding payments. In a statement, Sapura Energy said that the order under Section 366 will enable it and its subsidiaries to summon meetings with its creditors to consider and approve a proposed scheme of arrangement and compromise as part of its debt restructuring plan.
Malaysian outfit terminates Yunlin monopile installation deal - reNews renews.biz - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from renews.biz Daily Mail and Mail on Sunday newspapers.
Malaysia's Sapura Energy Berhad has issued a termination notice to Yunneng Wind Power Co., Ltd. related to a contract for the transportation and installation of monopiles at the Yunlin offshore wind farm in Taiwan.
KUALA LUMPUR: The engineering and construction (E&C) segment makes up 95 per cent of Sapura Energy Bhd’s RM22 billion total bid book while drilling contributes three per cent and operations and maintenance two per cent.
KUALA LUMPUR (Dec 13): Sapura Energy Bhd narrowed its net loss by 56% to RM669.34 million for the third quarter ended Oct 31, 2021 (3QFY22), from RM1.52 billion in the previous quarter of 2QFY22, as 2QFY22 saw higher project costs recognised for certain projects and a provision for foreseeable losses.