KUALA LUMPUR (March 20): Sapura Energy Bhd on Thursday said that officers from the Malaysian Anti-Corruption Commission (MACC) visited its headquarters on Thursday as part of an ongoing investigation into alleged bribery and fund misappropriation involving the company.
In a filing with the local exchange, the beleaguered oil and gas player said that it is fully cooperating with the anti-graft agency and will provide the necessary information to support its investigation.
"As a responsible publicly listed entity, we remain committed to upholding strong standards of corporate governance, transparency, and integrity in all our activities," the company said.
Sapura Energy assured stakeholders that its business operations remain unaffected and that it will provide updates on any significant developments.
The MACC has opened two investigation papers into Sapura Energy following an initial probe in late 2023.
The investigation focuses on money laundering and misappropriation from around 2018, when the company was known as Sapura Kencana Petroleum Bhd. It also covers corruption, governance issues and management weaknesses.
Sapura Energy has been in the spotlight recently after receiving a RM1.1 billion capital injection from the government to pay about 2,000 company vendors.
The company is currently undergoing a restructuring process to address RM10.8 billion in debt and RM1.5 billion in unpaid trade bills.
Shares in Sapura Energy fell half a sen or 11.1%, to close at four sen on Thursday, valuing the Practice Note 17 company at RM735 million. Its stock is down 33.33% this year.
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