KUALA LUMPUR: Vantris Energy Bhd has received a clean audit opinion for the first time in four years, reflecting the company's financial turnaround and regularisation efforts in its bid to exit Practice Note 17 classification.
In a statement, the group, formerly known as Sapura Energy Bhd
, said external auditors Messrs Ernst & Young PLT have issued an unqualified audit opinion with no material uncertainty related to going concern highlighted in the auditors’ report on the group’s audited financial statements for the financial year ended Jan 31, 2026.
"The completion of our financial restructuring, significant reduction in borrowings and restoration of positive equity have placed Vantris Energy on a stronger financial footing.
"This is an important step towards exiting PN17 and returning the Company to normal regulatory standing," said group CEO Muhammad Zamri Jusoh.
The group completed its restructuring - which involved issuing new shares and securities to settle outstanding liabilities - on Sept 26, 2025. It reduced its total borrowings from approximately RM10.8bil to RM5.5bil and the balance sheet was restored to a positive net asset position of about RM3bil.
Due to injection of new funds from Malaysia Development Holding Sdn Bhd, the group paid about RM1.1bil to over 1,400 Malaysian ecosystem vendors.
Moving forward, group chief financial officer Ganesh Gunaratnam said the focus is on preserving financial discipline, improving cash flow resilience and ensuring the group’s recovery is supported by sustainable, operations-driven performance.
