Crucial for Sapura Energy to raise earnings for turnaround

Sapura Energy - Sapura T-17

PETALING JAYA: Sapura Energy Bhd needs to sustain high earnings levels while pursuing its “reset plans” to address its unsustainable debt and outstanding obligations to trade creditors, says a research outfit.

UOB Kay Hian (UOBKH) Research noted the primary sentiment influencing Sapura Energy’s share price should not be solely attributed to the sentiment around high oil prices and the increasing global oil and gas asset values or charter rig rates for the fourth quarter of 2023 (4Q23).