Najib says Petronas can take over Sapura, Anwar says no to using rakyat's money.
MINDERJEET KAUR ANIS ZALANI
KUALA LUMPUR - Former prime minister Datuk Seri Najib Razak suggested for Sapura Energy Bhd to be taken over by Petronas.
During a live debate with opposition leader Datuk Seri Anwar Ibrahim, he further said Petronas can then sell the company when Sapura makes profits.
"When the company is better off, they can sell the company and make profits," he added.
"That and option here.
"I am optimistic the country will profit from this," he added.
He said Sapura Energy had RM7 billion worth of contracts and once the contracts are delivered, its share price would go up and Petronas could sell its shares for a profit.
“If not, ask the banks to give Sapura loans that the government can guarantee,” said Najib, adding this would not cost taxpayers money.
But Anwar said even Petronas belongs to the rakyat and he called for full forensic audit to find the cause for the oil and gas company to lose billions.
Anwar said it is time to stop abuses or misuse will continue. He called for integrity and good governance.
He also touched on the ailing oil and gas former CEO Shahril Shamsuddin’s salary and allowances.
“It’s not about bailout per se, but before we intervene in the management of a company, we must conduct a forensic audit.
“If Petronas takes over Sapura, it will involve billions. And who does Petronas belong to? Isn’t it the government and the rakyat's money? How is it that the rakyat will not spend a sen?”
But Najib said if Sapura, whose biggest shareholder is Permodalan Nasional Bhd (PBN), went bankrupt the people would suffer and thousands would lose their jobs but Anwar replied that the issue was not about saving Sapura or otherwise but about looking into the problem first and to conduct a forensic audit.
Financially-troubled Sapura Energy, a government-linked company (GLC), had announced a loss of RM8.9 billion last year. Najib had said this was the largest for any Malaysian GLC in history.
Najib has been pushing for a bailout of the company. However, PKR vice-president Rafizi Ramli has been against the idea, stating the funds would benefit only "a handful of elites".
