The Fall of Malaysia's Largest Company

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Sapura was the world’s 2nd largest oil and gas provider and at one point had operations all over the world, owned the world's largest fleet of tender rigs, and was on its way to become one of the world’s largest companies but almost out of nowhere.. everything changed.. but why..?
What happened and more importantly, can it still turn things around?
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📱 Follow me here! I share stuff from time to time!
Instagram: / _chunweng_
Twitter: / chunwengeth
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🔽 Timestamps
0:00 Intro
1:41 Small Room For 6
3:25 Liquid Gold
5:35 Liftoff!
10:54 Leaking Pipes
16:40 NordVPN
18:02 Sinking Ship
21:46 Last Stand
24:57 Sapura Today
27:58 Now What?
🎙️John Huo (10 years in Oil and Gas)
www.linkedin.com/in/johnhuo/?...
DISCLAIMER: Hey guys, it's true that I have worked in 3 different banks as a financial analyst, but I am not a financial advisor, just like you guys, I'm learning as much as I can, please do not take any of this content as guidance for buying or selling any type of investment or security. Anything said on this KZbin channel should not be seen as financial advice, this is merely me sharing my own personal opinion. Your own results in the crypto/stock market or with any type of investment may not be typical and may vary from person to person. Please keep in mind that there are a lot of risks associated with investing in the stock/crypto market so don't forget to do your own research and due diligence before making any investment decisions.

[@chunweng]

Subscribe for more dad jokes!

[@verypleasantguy]

As a Malaysian, I will say this ---- There are two groups of Malaysian companies. One group has the government backing, largely run by the constitutionally guaranteed privileged people while the other group of companies are run by those who are non-privileged, you failed you die government won't give a damn type of people Sapura belongs to the former, and they are badly run Their failure is never a surprise to us, the non-privileged people, for we will never run our own companies the way they run theirs 'nuff said

[@JohnFortescue-wm7xy]

​@@verypleasantguynn j

[@eriklee9462]

@@verypleasantguy & they missed getting another rm3 billion by a hairline... imagine someone pumping 6B into your company

[@verypleasantguy]

@@eriklee9462 6 billion here, 3 billion there, and .... Malaysia ends up bankrupt

[@ishaks8152]

I am not so sure what happened to the proud air asia not many news lately.

[@KarunanithiNramachandran-qw8xi]

This is what happens when you stop employing the best qualified and experienced management people and appoint your unqualified cronies to run companies .

[@ongsengkee2530]

Add in the engineered leakages that filled many pockets and raised many to billionaires. The biggest losers? The country and her sheeply people.

[@Amy-we4ij]

Same color & cronies easy to cover up their wrong doings and abuse of power to fill up their pockets ☺️ I believe the shareholders already stole the money from the company and let the company bankrupt.

[@abuzarrin9079]

Very true

[@eriklee9462]

tax payer funded expedition..if you put it through the microscope & see which gov pension fund and agencies "invested" in this -- the amount could be greater than 1MDB. At the end - Ang Wah still tipped in 3B...

[@chuageokseng2168]

NEP's Rights® screwed them up at the expense of tax payers' monies(bailout as a form financial rescue). They called it bumiputra agenda.😊

[@user-zj4pt8oi3u]

Brother there's huge potential for this channel. Keep doing what you're doing, it's excellent

[@araragikoyomi-vq6ue]

righttt. you wont see channels like this in Malaysia that much. one that i could recommend is APHD but his video is in bahasa melayu

[@chunweng]

I’ll do my best 💪🏻

[@laguvids]

@@araragikoyomi-vq6ue Yes I like APHD too

[@cheryllang98]

@@araragikoyomi-vq6ueRIGHTTT THIS IS THE FIRST TIME IM COMING ACROSS A WELL INFORMED WELL EDITED WELL NARRATED CHANNEL FROM MALAYSIA

[@ReformMsia]

@@chunweng Good content

[@haqaziz]

things i learned from this video. -artificial growth is super risky -absurd self-pay is killing company pocket -shopping spree using substantial debt with uncertain market ahead is very dangerous paths to take

[@calim3925]

Looks like the proper name for this company should be Sapulah.

[@lingy74]

All the above boils down to incompetent management and directors.

[@user-zw7mz4ik2e]

​@@calim3925😂😂😂

[@yusli2984]

Looks like capitalism to me. West way of capitalism is good. Good if benefits are selected few.

[@loorobert6430]

@@haqaziz this appointed Ceo or cronies have no intentions to manage it for generations. They want to make a quick buck and gone with the wind.

[@pcyden986]

TLDR; shah basically placed all his eggs in 1 basket, all the while mokzhani planned a pump & dump 😅

[@klzbd]

I beg to differ, Mokhzani hasn’t got the brains to plan like that. It was all planned by the Master right from the start. He was the choreographer all the while.

[@iamraphaelwong]

@@klzbd who is the Master?

[@shintaroharakiri]

@@klzbdthe one n only choreographer madhat😂😂😂😂😂😂😂

[@user-op8fg3ny3j]

@@shintaroharakiri mahathir?

[@amril9820]

Yeah...dump it before too late, before it become cents...you done the same thing if you are smart and realized the CEO Shah gambled high stakes with your money...

[@Roxanaatreyu]

I once worked with few ex SE staff. Shocking gomen attitude like, incompetent with ridiculous pay and barely deliver the minimum output...

[@vister6757]

Not surprising. All GLCs are like that including and they are best at office politics not the work assigned to them.

[@rosdanteh1218]

Abdul Kadir is his fathers name, not his name😅… the founder’s name is Shamsuddin bin Abdul Kadir

[@mohdeairul5533]

Betul..tan sri Shamsudin sekolah VI..berkawan dengan tan Sri Ananda Krishnan n tan Sri Wan Mahmood di VICTORIA INSTUTION..

[@bagaimana-dan-cara-]

If you businesman in Malaysia..you must know easy formula : 1. Bailout 2. Man in Inside Gov 3. Hit and Run ( the people cant get you )some of them even dont know Company name... 4. Stay wealthy after bankruptcy ( only Caompany bankcruptcy , not individual )..so keep move on..Not DOJ,No SEC....so happy mining on people FUND

[@merahsilu-lz4rd]

Your point still looks tedious. Let me counter with one: be a banker; play god.

[@chuageokseng2168]

@@bagaimana-dan-cara- NEP's bailout is bumiputra's rights®.

[@bagaimana-dan-cara-]

@@chuageokseng2168 its design to 1 purpose..only.. put sheep.in 1 block and barricade it and dont let other wolf to enter..so you have life stock and will.use it when needed..then you also use that sheep to bait/lure wolf too.. this to ensure.. youre oerson incharge betwee sheep and wolf as "owner'

[@AairaEril]

You people didn't know sh1tt

[@nadaiduit]

Abang sakit, adik pun sakit. No prize for guessing who is adik

[@zanifriz489]

One of the directors is the CEO of Prolintas. He got nabbed by SPRM for bribery 😅

[@yenyong817]

Good insight

[@harpreetmaan5081]

Amazing work mate, The quality just getting better.

[@chunweng]

Thanks for watching mah guy

[@guchi3918]

Wow…hats off to u..great storytelling ..

[@FakhrurrazieJaffar]

This is a high-quality documentary....what a great breakdown on explanation

[@kohyuk]

Corruption is chronic in Malaysia. And this is the result of the rampant corruption - fall of Sapura.

[@razrafz]

hearing how the CEO counted the egg before they hatches and take a huge sum of money for his own salary just makes my blood boil. they deserved to fall rock bottom. im ashamed as a malaysian

[@brentyap1920]

Biasalah tu, self reward first before profits

[@razrafz]

@@brentyap1920 typical ceo melayu lol

[@brandenalexander6038]

i think the eggs haven’t even laid 😅

[@takenbythewindNdrivenbythesea]

@@brentyap1920this is quite a Malay thing right?

[@beLIEve77]

Don't need to be ashamed. For sure they dragged EPF and ASN down somewhere along.

[@m3ng0789]

The moral of the story is, these big cats won't be affected, they are still happily enjoying their wealth even if the company go bankrupt, but small capitals who invested in, they probably suffering now.

[@mengyuen9827]

It could be their exit plan all along, the reason why they go public.

[@leodanialbrauhjao7388]

I just wonder if Malaysia have a law that can hold this kind of reckless CEO accountable. Lot of people or small trader lost money while he get away happily..

[@chuageokseng2168]

@@leodanialbrauhjao7388 Planned poor corporate governance & dump in share market untill share price traded@ 4￠ today. Listed PN17 company awaiting for white knight to rescue. They are taking advantage of NEP's Rights® to enrich themselves to print Instant Billionaires.

[@marina.eeyanyan]

Ex-Kencana here. Thanks for the video. It was good old times before we merged.

[@sarahe7423]

Rindu😢

[@klzbd]

So the ‘M’ had it all planned out?

[@CIPOIK]

boss boss awak lagi merindui zaman mewah dan ego mereka.

[@wanazharlotfi3708]

1) Excellent story. 2) Key reasons could be greed that overlook risks. Extremely high leverage poses very high risks. 3) Order book and sales could be deceiving. Must look at profits. 4) Malaysia must learn from this.

[@Nine.15]

Damn, somebody really cooked in making this video possible. Gain so much insight just watching the whole thing

[@MrSilverfish12]

Malaysia needs to STOP with these large corruption cases. This and the IMDB scandal is just nuts, the amount of money they lose from it is absurd especially when you drive around the countryside and see how many people need it.

[@Amy-we4ij]

They always say they are giving privileges and special rights to the Malays and these people are so happy when they received small sum of money and continue to support these cronies who have stolen billions from the country, who to blame?

[@Dr.M-ot9or]

Malaysia love to waste their money

[@SongPeehoa]

@@MrSilverfish12 Have you heard of CEO took millions in salaries?? In Sapura Energy..it's a yes

[@chuageokseng2168]

​@@SongPeehoa NEP's Rights® sucking up our mineral resources. What if 1 day MA63 terminates contract of marriage ? Borrow money to fund the bumiputra agenda to please 70% majorities.

[@AIMa-pm7ss]

I only hope 1 thing for Malaysia which is to revoke the Malaysian Agreement 1963. We BORNEO people have enough all this Malaya show. Let us live and rule our own COUNTRY and run our own oil company. Hope PMX will take stand to revoke MA63. Sarawak for Sarawakian, Sabah for Sabahan!

[@daryllim4826]

Great story, lots of research done 25 yrs of oil drilling working for Americans big service providers serving oil company from Petronas , shell, Exxon, 76, Aramco etc. I never touch any Malaysia oil stocks for their risks. Back in Sarawak shell time, this legend was labelled as "not so smart" by some, for all the silly mistakes he made in his job as drilling engineer, or "dumbass" by those who hated his family background. But one fact we can't denied is, their deals making ability are as good as jho low.

[@andychong5984]

I think I know the "dumbass" u r referring to

[@UrbanArtCentral]

Love your new corporate forensic series.

[@lubzih]

The best part of this video Chun Weng’s narration. You’re cool.

[@maemilev]

This Mokthar individual has managed to turn all companies into profit-losers.

[@muizzzainal3427]

You should do a follow up on how this impacted “smaller” people like employees whom were retrenched, vendors whom were never paid, etc. Something more relatable to the rakyat….

[@Bchicken2]

Great video and world-class production!

[@kawkawliang9959]

When the people in charge takes care of their pocket first rather than the right of the company. Saya sapu pura energy.

[@anisadnan8292]

Sapurata all the money

[@akifiskandar4186]

In hindsight, if Sapura had the foresight, they should've had just stay to its roots in telco and expand from there considering the tech boom from the late 90s onwards or even venture into E&E moreso now that O&G is a sunset industry

[@SongPeehoa]

The directors especially Mr. Shamsuddin took very high salaries until company dry.

[@SongPeehoa]

Me lost much😞😞😭😭

[@tanty2475]

Shamsuddin was Shahril's father. We used to address the Senior as just Che Isham when I was with the original company. A humble and down-to-earth sort of man.

[@PP-vf1kx]

😏 in our system,we don’t look at qualification or merit…look at race and connections! 😮‍💨

[@SongPeehoa]

@@PP-vf1kx This is how they can form a syndicate to swindle the company or enterprises. You rub my shoulders and I rub yours. I don't think this guy has anything except good connections especially political ones😞

[@dronepro53]

Recipe for failure is when leadership took big big salary

[@lightiningmcqueen6950]

excellent work Chun Weng. Good to see such quality from Malaysian KZbinr !

[@brandonchin8875]

Keep producing quality stuff, man. Like how you draw inspiration from other channels with similar style 👍🏻

[@liewwilliam3305]

Impressive and comprehensive reporting, keep up the good work

[@juncheng9327]

Such a quality, knowledgable and overall great great video

[@izadimrantan3758]

The production quality has improved greatly bro! Informative and entertaining

[@araragikoyomi-vq6ue]

so glad i clicked on this video what a gem. As a kid i never knew sapura was this big always heard my parents talking about it when i was kid. didnt know it was this huge

[@Pian_Malaya]

Impressive!...a lot to learn from Sapura's lesson...Good Job!

[@silvarajoomuniandy4316]

What to learn?

[@osopenowsstudio9175]

​@@silvarajoomuniandy4316Don't be overconfident and always stay vigilant.

[@OoiHoekhiam-rc9mr]

The lesson is not to be greedy. Go step by step in venture into new business, not all at one go.

[@dangermmm]

Good work. Thanks

[@yuyij6703]

It made a mistake by expanding too fast and borrowing too much just before the oil price crash back in 2014.

[@user-nv3rz5ee6l]

Oil price plunged but CEO and Managing director salaries surge to the roof

[@iamalphalim]

@@user-nv3rz5ee6l Kind of like Tesla and Elon right now How Tesla doesn’t join Sapura

[@ishaks8152]

@yuyij6703 Elon musk learnt alot from sapura.

[@osopenowsstudio9175]

​@@iamalphalimElon Musk didn't do it too much, basically just enough for the company to keep going.

[@nadaiduit]

Govt including current one won't dare to open the can like the hk b@nk fiasco.

[@huzafah_]

Love you vid man! 🔥🔥

[@user-xr7nh7nu4x]

Excellent work! Keep up the good work. Subscribed

[@ahmadnajibjamaludin]

really enjoyed with your videos. keep it up!

[@cccsss123]

Chun Weng cooked again. It seems that after the Sea Limited video, he found what kind of video attracts viewers. Good job Chun Weng!

[@rajarajanperiasamy7474]

Great content and very well presented. Thanks!

[@daddyraffles7083]

Awesome corporate forensic series 👍 Wanna more video like this for other industry in Malaysia ❤

[@yoonnan]

Excellent video. Very informative

[@joserizal5723]

Top quality production with great quality content !! Two thumbs up 👍 👍

[@CapriceOriginalFilms]

Awesome documentary and writing. 👍

[@chunweng]

@@CapriceOriginalFilms thanks for watching bossku

[@iamjonz8049]

Really awesome video infortainment.Looking forward for your next video production

[@ahmadn.selamat5838]

I really like the style of your narration and clips combination, makes the video enjoyable to watch..plus some matters that i never have put into attention in the country, very knowledgeable 👍

[@passwordwn3]

Excellent & insightful video!

[@AVIATOR-by4kk]

Showcase of how to manage a billion-dollar company to ruin. Management by greed and instinct. Atok's son knows when to cashout.

[@user-jp1nf4pf4i]

...because Malaysian Malay politician & its cronies all are corrupt & not competence

[@chuageokseng2168]

@@AVIATOR-by4kk Practice poor corporate governance system to ruin the company. Ignore meritocracy.

[@chuageokseng2168]

It looks like Sapura Energy oil tanker is on fire. Captain & its crews safely abandoned the ship. Share price from 4.80 plunged to 4￠listed as PN17 on Bursa stock exchange.

[@chuageokseng2168]

Awaiting financial rescue from White Knights or Winding up the company to pay off its debts 10 billions. No NEP's bailout please.

[@azamroslan]

This is quality content. Keep up the good work. Notice you only have 2 such videos so far. Looking forward to watching the next!

[@perx098]

very nice production wei. like watching a TV made documentary. subscribed

[@user-yt198]

Impressive story telling 👍

[@rockersstone619]

They should change the company’s name. Sapura is Sapu+ Pura= Sapura. Meaning : Sweep & Pretend

[@Dawsoncws]

I’m leaving a comment, liking and sharing this video so that it has a greater algorithm search. Glad to see and gladly will support a fellow Malaysian for quality documentary like this on KZbin :) please keep going and produce such contents whenever you’re ready and convenient because I know the amount of researches and reference needed is never easy!

[@fababubakar9047]

this is sooo enlightening & enriching !! Thank you for sharing

[@i360x64]

The content of this video is outstanding! I can see the significant effort and dedication put into its creation. Great job!

[@aimansyahmi6571]

Absolutely loving these videos. Keep up the good work!

[@hym1751999]

This channel has potential. The content and the production are so good. Keep up the good work !

[@aaronon953]

what a great production of a video.. happy to see more Malaysian content creators on par with oversea's counterpart

[@farhanirwan4816]

what a great video my man. Keep it up!

[@keluargaindowakian693]

A very good and insightful narratives.. Good job mate, you got yourself a new subscriber.

[@muhammadimranazman2424]

This is a masterpiece! Keep up the good work!

[@EdwardLing]

what a great video. well done Chun Weng. You have a new fan

[@nkumudahnagarajah4204]

Thank you very much .well explained

[@YaFazka]

great job and production, pls continue doing

[@nzm8778]

This is a great video for a great lessons learn.. keep up this kind of contents bro!

[@Kang.Fitness]

Video quality getting better and better!

[@chunweng]

Thanks man!

[@safuanramlan1099]

I like this kind of documentaries.. keep it up.

[@user-lr9iz1li3u]

I guess you didn't forget the password to your KZbin account after all hahaha. The production quality is 🔥🔥!

[@chunweng]

I guess I didn’t 😂

[@10000years]

interesting story about Sapura, this was as bad as 1MDB

[@sabrinakamin3335]

Great explanation

[@harmanhamid4198]

Well done... good video with good explaination ❤

[@MrJoesLife]

Smashing it Chun Weng, loving this masterpiece!!!!!

[@elani94]

very insightful video, thank you for doing this! I love to watch this on my way to work. 👍🏻

[@bryanliew5677]

Nice video.very informative

[@nemochi]

Subscribed. I hope you continue to spread awareness about these topics, as most ppl haven't even heard of them, and news companies don't cover these topics in an unbiased way.

[@caneestudio]

If sapura is amarter then the competitor in using tech. why are the competitor is still around and Sapura isn't?.

[@sofiliyana84]

Greedy

[@jameslum8822]

Well set up documentary. Kudos!!! I like your commentary style.

[@maaran85]

kudos bro.. for your work..

[@Gecko-SM90]

Not suprising when there is no transparency in the company

[@Jimmygonewild]

Quality content. You’ve got a new subscriber!

[@CK-vf8xn]

Great work.

[@jensenchongchianshen8855]

Our own Magnate Media. Good job Chun Weng

[@ryantan3887]

Great content bro, high quality content with top notch editing 👍🏼 Thanks for the sharing

[@ericlai3221]

what a great content weng👍I wish I could SHOUTOUT this to whole Malaysia

[@chunweng]

I appreciate it man 🙏

[@vemal20]

Your content is solid bro.

[@c4un544n5]

Wow awesome content. Absolute banger. Hopefully one day you can cover forest city as well!

[@haroldz123]

Next do for Serba Dinamik. Their directors still walk free

[@YouTubeChannel-fu5yw]

And all blue chip company

[@tchong5424]

I sees greeds sets in. Not talents!

[@maytan1622]

Thanks for your video

[@vsctan7]

Great video

[@3_to_the_dome501]

You just got yourself a new subscriber bro. Quality content, informative & pleasant presentation

[@mdanuarismail9216]

Nice cover. Thanks

[@PlanetXenornoph]

Very good Detective Conan, just subscribed your channel 😅😅

[@jolyn7043]

Good job and great​explanation. I'm now​ ur new subscriber.​

[@Moonir6907]

Chun weng your video has international quality..nice editing and narrations

[@fitridendi6449]

Good job bro , very high class presentation,

[@alvinyap8871]

may i know what app you used to edit this high quality video? So nice!