Permodalan Nasional Berhad’s (PNB) RM1.1bil investment into Sapura Energy Bhd is not a government bailout but a strategic investment towards sustainability, according to government spokesperson Fahmi Fadzil.
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NewsTranscript
00:00As we all know, yesterday, Sapra Energy issued a statement
00:06in connection with PNB's strategic investment in the form of redeemable convertible shares.
00:15And there are a few things that have been raised,
00:20including a statement by one newspaper claiming that this is a form of bailout.
00:29And this has been denied.
00:31It is a strategic investment that differs in nature from the bailout
00:37that took place during the era of Dr Mahathir.
00:42That is a real bailout.
00:44This is not.
00:45This is Madani, not Mahathir.
00:47And I was informed that PNB will issue a statement today,
00:56possibly within one or two hours from now.
00:59So I ask the media to look into the statement that will be prepared
01:06and issued by PNB this afternoon.