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Sapura Energy still in the black as refinancing continues


21 December 2020 10:43 GMT
Updated 
21 December 2020 10:43 GMT
in 
London
Malaysia’s Sapura Energy has bucked the trend of some of its peers by posting its third profitable quarter in this current financial year.
“Sapura Energy pursued an agile strategy of utilising strategic assets to acquire capabilities across the value chain, expanding our global presence and diversifying into adjacent markets,” said Sapura Energy president Shahril Shamsuddin.
“The move steered us through the uncertainties of the energy industry.”
Sapura has executed a “comprehensive optimisation plan” to ensure lean and efficient operations that began started in the last financial year.
The company has already identified more than 200 optimisation initiatives worth 1.1 billion ringgit (US$271.7 million), of which approximately 600 million ringgit-worth have been implemented to date. ....

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