PETALING JAYA: Sapura Energy Bhd
may not be able to turn around its operations in the near-to-medium term after reporting financial results which once again came in below market expectations.
Hong Leong Investment Bank (HLIB) Research said in a report to clients that heightened cost overruns in its projects, liquidity issues from difficulties to obtain funding and the oil and gas company’s inability to win jobs due to its balance sheet distress would likely prevent it from doing so.
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