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Govt must push banks for ‘haircut’ on Sapura’s loans, says Shahril
Free Malaysia Today
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3/17/2025
The former Umno information chief says the RM1.1 billion injection will not solve the company’s core financial issues.
Read More:
https://www.freemalaysiatoday.com/category/nation/2025/03/17/govt-must-push-banks-for-haircut-on-sapuras-loans-says-shahril/
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00:00
What's your suggestion, Sharyl?
00:02
I think you gotta push the bank to accept the haircut.
00:06
Accepting the haircut means that the bank should reduce the debt.
00:11
Usually, there will be a vote for the bank to take the haircut or reduce the debt.
00:18
Usually, in this bank industry, when we give a loan,
00:22
whether it's interest, the bank also needs to accept the risk that
00:26
not all of the loans will be returned.
00:29
That's part of the financial system.
00:31
So, the bank has to accept that if I get 10 billion back, I'll only get 5 billion.
00:35
So, somehow, the government has to push that with certain pressures and certain messages.
00:41
That's the first thing.
00:43
Second, I think we need to be honest.
00:46
If there's an asset stripping exercise that needs to happen,
00:49
I think we need to do it.
00:50
Because what Dato' Sinajib suggested is a bargaining chip.
00:54
Whether it's Petronas, Kazanah, or the Malaysian government in general,
00:59
to take a bargain for reasons to protect,
01:02
a similar phrase, about vendors, suppliers,
01:05
about the oil and gas ecosystem, etc.
01:08
That's his suggestion. Take over the company entirely.
01:11
What's happening today is not a direct bargaining chip.
01:14
It's just an investment in the form of a loan.
01:17
So, in terms of mathematics,
01:19
Dato' Sinajib himself, taking 1.1 billion to deal with 1,000 or 2,000 suppliers,
01:24
will not solve the basic problems in Sapura.
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