Sapura Energy rejects social media claims of wrongdoing

PETALING JAYA: Sapura Energy Bhd has refuted claims of wrongdoing circulating on social media, believed to be in reference to allegations directed at one of its senior directors as well as a prominent lawyer.

“As a listed company, the board of directors subscribes to the guidelines and rules of the main market listing requirements of Bursa Malaysia Securities Bhd and all other relevant authorities, and is bound by the high standards of corporate governance stipulated in the Malaysian Code on Corporate Governance,” the company said in a statement.

A series of tweets which went viral recently had linked the ouster of Abdul Jalil Rasheed from the government’s capital powerhouse Permodalan Nasional Bhd (PNB) to alleged goings-on in Sapura Energy.

PNB holds a substantial stake in Sapura Energy.

Among others, the tweets claimed that Jalil had several times expressed concern over Sapura Energy and refused to guarantee a loan the company was seeking.

They also claimed Jalil had issues with the high remuneration and expenses of the company’s top staff, despite the company making losses of over RM4 billion.

It was also alleged that the board director, with the aid of the lawyer and a federal minister, helped oust Jalil after finding discrepancies in his academic qualifications.

But Sapura Energy said the allegations were unfounded and that the board of directors had always acted in the company’s best interests.

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