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DESPITE a view that many Malaysian oil and gas (O&G) companies are not out of the woods yet following the 2014 collapse in oil prices, investor interest in some companies remains strong.
PETALING JAYA: Tan Sri Mokhzani Mahathir has ceased to become substantial shareholder of Sapura Energy Bhd after selling almost 385 million shares in the company on Nov 7, a filing with Bursa Malaysia showed.
PETALING JAYA: Tan Sri Mokhzani Mahathir, who spotted the trend of investing in the oil and gas (O&G) industry some 15 years ago, is completely exiting the sector as sentiment in crude oil prices picks up. In the latest development, he is looking to sell his entire 10.1% stake or 605 million shares in Sapura Energy Bhd via a private placement.
PETALING JAYA: SapuraKencana Petroleum Bhd’s (SapKen) unit, SapuraKencana TMC Sdn Bhd, has successfully completed the signing of a seven-year multi-currency financing facility of approximately US$1.5bil (RM6.68bil) equivalent with a consortium of Malaysian, regional and international banks.
PETALING JAYA: SapuraKencana Petroleum Bhd’s (SapKen) securement of total contracts worth about RM1.34bil (US$300mil) is a re-rating catalyst that could unlock value and improve its earnings going forward.