MACC visits Sapura Energy office amid graft probe, firm vows cooperation

Summary

• Sapura Energy Berhad (SEB) confirms that several MACC officers visited its office at Menara PNB in Kuala Lumpur today.

• The company vows to provide MACC with the necessary information to support their inquiries.

• It also assures its stakeholders that operations are continuing as usual.

Several MACC officers visited the Sapura Energy Berhad (SEB) office at Menara PNB in Kuala Lumpur today, said the oil and gas company in an announcement to Bursa Malaysia.

SEB also mentioned that it was fully cooperating with the anti-graft agency.

“(SEB) will provide the necessary information to support their inquiries.

“As a responsible public-listed entity, we remain committed to upholding strong standards of corporate governance, transparency, and integrity in all our activities,” the announcement reads.

The company also assured its stakeholders that operations are continuing as usual.

SEB added that keeping stakeholders informed is important and therefore, further updates will be provided should there be any significant developments.

It was reported last Friday that MACC is investigating alleged bribery and misappropriation in connection with SEB.

The probe’s focus was on alleged money laundering activities and misappropriation related to claims from around 2018, when the company was known as Sapura Kencana Petroleum Bhd.

On March 11, Prime Minister Anwar Ibrahim threw the debt-addled SEB a lifeline, by providing it RM1.1 billion as an investment from Malaysia Development Holding Sdn Bhd - a special purpose vehicle under the Minister of Finance (Incorporated).

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