Sapura survival depends on debt revamp

CGS-CIMB Research said the cash-strapped oil and gas company’s debt restructuring needs to succeed to avoid a delisting from Bursa Malaysia.

PETALING JAYA: The survival of Sapura Energy Bhd, which returned to the black in the first quarter, hinges on the success of its debt restructuring plan that could prove to be a massive challenge, according to analysts.

CGS-CIMB Research said the cash-strapped oil and gas company’s debt restructuring needs to succeed to avoid a delisting from Bursa Malaysia.