The former prime minister said bailing out “failed people” was “not business”, the New Straits Times reported.

“In business, there are times when we make a profit, there are also times when we incur losses,” he was quoted as saying by the daily.

The Langkawi MP said this when asked to respond to a proposal by his predecessor, Najib Razak for the government to bailout SEB or risk having the government-linked company (GLC) declared bankrupt.

Najib had long called for the government to save the company, saying thousands of jobs would be on the line if it was not provided with the necessary funds.

He added that the oil and gas giant is capable of repaying its debts if it was allowed to continue operating, especially with the increase in the price of crude oil.

SEB’s total debts currently stand at RM10.3 billion, and the company is currently undergoing a debt restructuring plan involving banks, vendors, and contractors.

Meanwhile, Bernama reported Mahathir as saying it was still not suitable to hold the 15th general election (GE15) even though the number of Covid-19 infections was under control.

He cited the Sabah elections in September 2020 as an example.

“At that time, the total number of cases (Covid-19 in the country) was low but when the Sabah elections were held, the disease spread rapidly,” the news agency quoted him as saying.

It was reported last year that the Sabah elections resulted in an estimated 2,979 Covid-19 cases in the first few weeks after polling day.