The RM1.1bil injection into the debt-laden Sapura Energy Bhd should be repaid as it was provided in the form of capital loans, says Prime Minister Datuk Seri Anwar Ibrahim.
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NewsTranscript
00:00So that's why the money was injected, not to clean companies, but to vendors.
00:14And in this case, in particular, without this company,
00:20no company can handle the level of implementation or level of domestic work.
00:28And we are forced to hand it over to foreign companies.
00:31So we have a problem.
00:33Is there no initial problem? Yes, there is.
00:35Maybe it's the management, maybe it's something else.
00:38I can't announce everything here so that we can see the financing audit.
00:44But the solution is so good.
00:46Is this money burnt? No.
00:49What is done is that this injection will be used as a loan
00:55so that the new management can handle it better,
01:02get profit, and pay back the 1.1 billion injected funds.
01:08Not injection of funds, but implemented as a loan.
01:16I don't have a problem with it.
01:18But the way it is, ANUA has betrayed us.
01:21ANUA has become a tool and instrument of this country's economy to the corporates.
01:27It sounds good, but it's a lie in the month of Ramadhan.
01:34Because of the lack of knowledge and negligence to get the right facts.
01:40When we criticize Sapuran Energy, how many years ago?
01:45Three years ago, four years ago.
01:48Maybe you remember the debate between me and Datuk Srinajib.
01:53What did I say?
01:54I said, don't bail out.
01:57The management is still there.
02:00Their income is still high, millions of dollars.
02:05Where is the forensic audit?
02:09We take EY, Hansen Yang, and enter.
02:13All transparent rules are implemented before the decision is made.
02:20And believe me, it's not easy.
02:23I'm one of the toughest people in terms of bailout.
02:27Because of my experience, from the beginning in 1997-1998,
02:32I opposed the bailout to the management company
02:36involving the son of the Prime Minister.
02:39So, there is an experience.
02:41Because it saves the lives of people who live luxuriously and with ease.
02:48Then, the management is the weakest.
02:53Causing a great loss.
02:55And then, covered by the government.
02:58Without the conditions we provide.
03:02So, that's about...
03:05That's about it.