Over 1,400 local vendors have been paid from a RM1.1 billion government investment in Vantris Energy, safeguarding 59,000 jobs in the oil and gas sector.
KUALA LUMPUR: More than 1,400 local vendors have received payments following the government’s RM1.1 billion investment in Vantris Energy Bhd.
Finance Minister II Amir Hamzah Azizan said the investment was specifically conditioned to settle outstanding liabilities owed to local service providers.
“The condition does not benefit any Vantris Energy shareholders or existing financial creditors,” he told the Dewan Rakyat.
He explained that the Vantris Energy ecosystem involves more than 59,000 workers who depend directly or indirectly on the company’s vendor network.
The redeemable convertible loan stock subscription approach has helped save local vendors affected by the financial situation.
The government, through Malaysia Development Holding Sdn Bhd (MDH), made the investment to preserve the oil and gas industry ecosystem.
Amir Hamzah said the government wants to ensure the affected company’s ecosystem is safeguarded via the support provided.
Measures taken included a change in the board composition with the appointment of a new chairman and three new board members.
This aims to strengthen oversight effectiveness and reinforce checks and balances at the board level.
Vantris Energy announced in August 2025 that MDH would subscribe up to RM1.1 billion in RCLS as part of fundraising efforts.
The proceeds were dedicated to settling outstanding payments to Malaysian oil and gas vendors.
