KUALA LUMPUR (March 17): Sapura Energy Bhd (KL:SAPNRG) on Monday said it has not been contacted by the Malaysian Anti-Corruption Commission (MACC) regarding a probe into alleged bribery and fund misappropriation involving the company.

In a shortly-worded filing with Bursa Malaysia, it said it is fully committed to cooperating with the MACC and will provide all necessary information as required to support its inquiries.

 “As a responsible, publicly-listed entity, we uphold the highest standards of corporate governance, transparency, and integrity in all our operations. We understand the significance of keeping our stakeholders informed and undertake to provide updates as necessary when there are pertinent developments in this matter,” the company said.

Bernama, citing sources last Friday, reported that the MACC has opened two investigation papers into Sapura Energy following its initial probe late 2023.

The focus of the probe is on money laundering and misappropriation from around 2018, when the company was known as Sapura Kencana Petroleum Bhd.

The probe also covers corruption, governance and management weaknesses.

MACC Chief Commissioner Tan Sri Azam Baki confirmed the investigation under the MACC Act 2009 and the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001.

Sapura Energy has been in the news lately after receiving a RM1.1 billion capital injection from the government to pay about 2,000 company vendors.

The cash strapped company is in the midst of a restructuring where it is looking to address some RM10.8 billion in debt and RM1.5 billion in unpaid trade bills.

The company’ share price closed half a sen or 10% lower to 4.5 sen a share on Monday, giving it a market capitalisation of RM826.9 million.