PETALING JAYA: Sapura Energy Bhd announced that Bursa Malaysia Securities has, through a letter dated June 30, 2025, approved the company’s proposed regularisation plan (PRP).
This marks a significant milestone in Sapura Energy’s strategic efforts to restructure its debt, strengthen its financial position and exit its status as a company classified under Practice Note 17 (PN17) of the Main Market Listing Requirements.
The approved PRP includes a comprehensive suite of measures comprising a capital reconstruction, debt restructuring, fundraising initiative and the necessary regulatory exemptions. These initiatives are designed to address accumulated losses and reduce total borrowings to support Sapura Energy’s ongoing business turnaround and set the foundation for future growth. The proposed funding is earmarked for the settlement of outstanding payments to vendors in the Malaysian oil and gas ecosystem.
“We wish to extend our gratitude to Bursa Securities for their approval,” said Sapura Energy group CEO Muhammad Zamri Jusoh. “This not only validates our regularisation strategy but also paves the way for us to emerge from PN17 stronger and more resilient. We remain committed to executing the regularisation plan responsibly, delivering value to our stakeholders and restoring market confidence in our business.”
A general meeting of shareholders will be convened to approve the PRP, after which Sapura Energy will implement the approved measures and achieve full compliance with Bursa Securities’ listing requirements.
With the restructuring effective date targeted for August 2025 or latest by the longstop date of March 11, 2026, the group is set to conclude one of the most complex restructuring exercises in the country’s history.
