Vendors laud govt’s cash injection to Sapura Energy

The government’s RM1.1 billion investment in Sapura Energy Bhd is a crucial lifeline for vendors grappling with severe cash flow challenges due to outstanding payments, amounting to approximately more than RM10 million, offering a much-needed boost to the local oil and gas ecosystem.

Speaking to Bernama, Keyfield International Bhd chief operations officer Mohd Erwan Ahmad said the outstanding debts had caused severe cash flow issues for the company, mainly when the non-payment from Sapura Energy occurred in the second half of 2021, during the peak of the Covid-19 pandemic…