Reviving Sapura Energy
Toh Lye Huat and Khairul Khalid | 06 Apr 2018 00:30
To say that the last three years have been rough on Sapura Energy Bhd would be an understatement. This year alone has seen its share price take a further beating – down 27.14% to-date. 

Last month, the global oil and gas (O&G) services and solutions provider announced a hefty RM2.5 bil net loss for FY18 ended Jan 31, mainly due to impairments of RM2.1 bil.

It was only four years ago that Sapura Energy was among the darlings of the investing community. It could do no wrong in the eyes of many O&G sector analysts.

Since the collapse of oil prices three years ago, naysayers have been coming out of the woodwork and casting doubt that Sapura Energy would ever return to its heyday.

Stung by all the negativity, president and group CEO Tan Sri Shahril Shamsuddin is looking to prove the critics wrong.

Speaking to FocusM, he emphasises that Sapura Energy is in a prime position to capitalise on a market rebound due to its value proposition as an established global player, an advantage he feels is often overlooked.

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