While securing the RM1.85bil job wins (15% of its order backlog) is vital to its replenishment exercise, Sapura Energy still needs to execute these works well to eliminate cost-overrun risk.
PETALING JAYA: Analysts have raised concerns on Sapura Energy Bhd
’s earnings sustainability and “highly” geared balance sheet despite its recent contract wins worth billions of ringgit.
Yesterday, Sapura announced that it had won multiple contracts including six new engineering and construction (E&C) jobs and one drilling contract extension totalling RM1.85bil.
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