Due diligence and conditions including a complete restructuring of Sapura Energy Bhd's top management were conducted before the RM1.1bil capital injection into the company, says Prime Minister Datuk Seri Anwar Ibrahim.
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NewsTranscript
00:00There is one thing that I am a bit upset about, and it is about the current situation.
00:05Two things that I see being made into a political topic in the last 2-3 days is the issue of
00:11Sapura Energy, which was able to extract 1.1 billion ringgit from the government.
00:18So, he said that NUA was really against the bailout.
00:22Indeed, if I were to make a choice,
00:26I would not be happy with the way we saved a large company.
00:3210,000 small companies that sometimes go bankrupt are not taken into consideration.
00:38But in this case, we need to know that we can criticize and attack.
00:45It is not a life-saver like it was originally planned.
00:51We started with a forensic audit,
00:55to know for sure what the problem is.
00:59And the investigation, if there is a mistake, misuse of power or negligence,
01:07that is continued. I also saw it 2-3 days ago,
01:11it is continued. That is not our business, we only ask for an investigation.
01:15So, all agencies involved must investigate whether there is a failure.
01:21Thirdly, we do not give the company a chance.
01:25That 1.1 billion, especially to the vendors that have worked,
01:31around 2,000, 80% of them are Putra land vendors,
01:37who have given food. How should they be punished?
01:41In the political world, if I do not help, it is treason.
01:45He is no longer helping to fight for Putra land,
01:51he is only a speech therapist.
01:53This is wrong.
01:57If we do it, he says, we help.
02:00I do not help to save rich people.
02:05The money is sent directly to the vendors who have worked,
02:11and have not received payment.
02:19So, what if we say, let them all go bankrupt?
02:24What will happen?
02:25This is only one company,
02:29Whirling Gas Malaysia,
02:31that can operate under its implementation.
02:34If it is closed, it means that there is no company that can handle it.
02:40It means that all activities under its implementation
02:51are foreign companies.
02:54So, we have a problem now.
02:56This bailout does not save a large company from its management.
03:01The chairman of the right-hand management must leave.
03:04That is our condition.
03:05It must be replaced with a new chairman.
03:08And if there is a problem related to the need for investigation,
03:15it must be continued. That is our business.
03:20So, this is our consideration.
03:24In my opinion, we must choose.
03:28Do we have to punish 2,000 companies
03:32that have worked and it is not their fault?
03:35Punish the wrongdoers, not them.
03:38Therefore, the money must be invested,
03:40not to clean companies, but to vendors.