THE DOWNFALL OF MALAYSIA'S LARGEST PRIVATE COMPANY

[@BehindAsia]

Sapura Energy, once valued at $6 billion USD, experienced such a stunning downfall. What lessons can other companies learn from its struggles? Let us know down below!

[@luqman3722]

Interfere gov to manipulate a big money.

[@knock-knockwhosthere9933]

It's a Msia ting🤣🤣🤣 could take forever to undo... Just a harmless joke 😆😆😆

[@hanhoeong4365]

Pppppppppp0pppppp

[@renac4832]

Protectionism is usually the cause of such downfall and mostly happens to GLCs. In the past PROTON needs repeated bailout which otherwise will suffer the same fate. Similarly the same to MAS and many others out there. Unless the government realises the importance of putting the right man on the job otherwise this will continue forever.

[@knock-knockwhosthere9933]

@@renac4832 ... But regular consumers don't care about financial statements. They criticize AirAsia but MAS has been an ailing company for decades, with the exception of the short stint contribution of Idris Jala.

[@mfuzzymis1374]

Common issue in industry usually due to taking weak/bad/stupid friends or circle as top mgmt. That why Integrity on hiring is utmost important.

[@MrBoliao98]

Where in the world got oil company can lose money.

[@drewh3224]

Malaysia government has been known for its notoriously without considered or required any merit or experience to hold or promoted for the related jobs or positions especially in the government sectors and politics.

[@MrBoliao98]

@@paalexsamaklyne1040 so you want this happen in Sabah Sarawak as well ah?

[@paalexsamaklyne1040]

@@MrBoliao98 no,it won't happen as we don't mix politics with religion. Todate CEO has taken as salary RM463.45 millions ,yet he got the cheek to sue Rafizi

[@nurmuhammadbinabdullah]

I agreed.

[@silvarajoomuniandy4316]

Successful companies are thriving in the world due to company owners who worked for it diligently. But Malaysian companies like Sapura are run by boys who got a degree by some universities and put by politicians as ceos to run the company. They do not have business experiences on their own. Business is buying and selling, and strive to make profit. Without business experience there is no business.

[@meer7391]

Emm, the Sapura CEO also the stakeholder, the owner to be exact. He came from a long line of businessmen. This is the issue of greed rather than incompetency.

[@tytan9139]

@@meer7391 The present CEO is no where near his father's business instinct.

[@meer7391]

@@tytan9139 the greedy CEO is no more. The current CEO and the management team is tasked with uphill battle to turn the table.

[@arcturus4067]

This video is missing the point. Oil and gas price fluctuations is not the main cause of the downfall. The causes are corruption and cronyism. Like most things in Malaysia, we don't put the best people on top posts but those with connections to the political class. Mega projects start out with much fanfare to ultimately go bust in mis management due to "intervention" by politicians on who gets to be in charge.

[@parrotbrand2782]

Sapura Energy and Serba Dynamik. 2 large companies that made lots of investors lose a lot of money. Must be careful and look at the board of directors.

[@eugenelim5502]

Malaysia government will pump money to these 2 companies to rescue.

[@klam13]

Both bod are malay majority.....

[@mohdsyafiq884]

@@klam13 racism issue? Or personal issue?

[@chingcheewoo913]

Greedy investors must be aware of greedy politicians who wants to make a fortune out of these Petronas capex companies.

[@HuntaKiller91]

​@@mohdsyafiq884 cable issues 😂

[@dev8653]

Company become bankrupt but top executives become millionaires .

[@derekkhoo3104]

how can a company not fail when there are "alleged" leakages from top to bottom. with such leakages, the bigger they are the harder they fall.

[@arslanakhtar8862]

I like your comment...but please enlighten me what you mean by leakages...I am sure many people want to know the truth and not as narrated In a "play safe mode" in this video...

[@meer7391]

What leakage? Minyak leakage? Sound like a genius, but show no proof.

[@alphabeta3528]

@@meer7391 lmao

[@ChandrasagaranKannan-ym5nw]

Alleged

[@laikitau8971]

Corruptions, bad management with high salaries are the factors of the downfall.

[@jasonc2029AD]

12 yrs ago it was the world's biggest O&G merger between Sapura-Kencana Petroluem but due to mis-management on its finances, over-paid salaries and disagreement between Chairman, Co-Chairman and its BODs, the newly formed company parted ways!!

[@stewardang4939]

I worked for a subsidiary of Sapura once. FOS company with bosses who were FOS & believed too much of their own BS… They certainly acted like they would never fall cos they were a (Malaysian) Govt-linked company… after I left, I heard the wife of the CEO of the subsidiary I worked in (who was also 1 of his lieutenants) had some kinda scandal with another of his lieutenants (which actually every1 in the company could already see, but it just didn’t become public yet), then the CEO himself had his own scandal & ran off with some embezzled funds as well… I mean, he was always complaining loudly that some sales ppl were making more money than him, despite him doing more work & closing higher-value deals… overall, a very typically Bumi-run company…

[@meer7391]

Blablabla, then keep playing racist sentiment. Have you done your blood test regularly? What is the reading for your racism? :p .Hope it wont passed down to your children.

[@marvelcomiks8078]

Malaysia's large corporations existed because of the large oil reserves in Sabah which they rent from a Philippines' sultanate. The Malaysian Government used the monies made from these oil fields owned by the foreign sultanate to enrich their own corporations and fill them with their indigenous cronies as directors and CEOs. They are robbers and parasites that will always destroy whatever is built. Already Princess Jacel Kiram of the Sulu Sultanate is has won in her claims in the ICJ and demands the return of Sabah. The reason why Sapura Energy failed is because the company is run by morons just like their many other large local corporations filled by the cronies of the previous ruling Government that ruled them for 6 decades before it was recently toppled by Prime Minister Anwar. Even this is going to be short-lived because the morons will ensure Anwar is toppled before he gets to remove them from their undeserved places.

[@skksoon4951]

Anything can happen in Malaysia because of 1 type of attitude it’s ‘tidak apa’ attitude

[@guntorclement8080]

Agreed..and until it drain up our pocket

[@dondog3123]

Tak apaaaaaaa, lain kali aja loohh

[@fauziahmohddinmohddin7988]

Anything can happen in China soon . Just wait the news !

[@RB-rp6ud]

Sapura is not the largest private company in Malaysia. The Sapura company that has mounted debts is Sapura Energy which is a engineering services provider mainly in the O&G sector.

[@drewh3224]

Sapura is a public company, not a private's!

[@cym1580]

Headline also wrong how to understand this rubbish article

[@RB-rp6ud]

@@cym1580 That’s why information that are published need to be cross checked & double checked before posting.

[@williamkee51]

Sapura energy are one of our clients, and honestly I don't see how their engineering sector can mount the enormous debt.

[@fendi2785]

@@drewh3224 no it is not😂😂😂

[@razmiihsan8897]

Corruption. Period.

[@ahmadshauki5612]

This Company survived and thrived because it belongs to the God of the Malays. It was formed as a tool to enrich the God and his children. This Company will collapse but the shareholders will not be affected. They have siphoned billions and billions and billions.

[@ahmadshauki5612]

For me Mahathir is the most evil man ever created by Allah. Hitler was an evil but he killed people who he considered his enemies. Mahathir destroyed the people who give their utmost trust in him in the name of Islam and Malay. As a corrupted politician he is more efficient than Marcos. Marcos destroyed the Philippines in 30 years, Mahathir destroyed Malaysia in 22 years. I graduated from a university in Cardiff Wales in 1983. In 1984 I was assigned as the CEO of a Government-owned company (the Company). I didn't want to take up that post because for me the task of a General Manager was 'administrative'. Instead I took the post of the Deputy GM and Planning Manager. My salary was 5-figure. My task was to build the first Light Rapid Transit System for Kuala Lumpur. The Government gave the Company vacant land worth MYR 6 billions as the Paid-Up Capital for the Company. According to estimates by the Consultants this Project will cost MYR 4 billions. I knew I could the whole LRT @ 30% discount or even less. I believe if I were to call for an 'Open Tender' I could build the Project for MYR 2.8 billions. I believe I could get the Project done for less if I were to breakdown the Project by doing barter trading with a Country in Europe. The Trade Commissioner for this Country came to see me. He wanted to supply everything the Project requires in exchange for tin, rubber, oil palm, etc. My proposals were: 1. Take-up this offer; 2. Appoint contractors via Open Tenders; 3. Appoint Local Project Manager but this Project Manager must team-up with experienced Project Manager from outside. The Government instructed me to sell the Land to raise the money for this Project. I didn't agree because 'Why must I sell land worth MYR 6 billions to finance the Project which is supposed to cost only MYR 4 billions?'. I knew I could build the Project @ MYR 4 billions less 30% @ MYR 2.8 billions. I wanted to use the Land alienated to the Company for joint-ventures with Private Developers. In this JV the Partners must give me a Minimum Profit Guarantee @ 30% of my land value upfront. It means before I start the Project I could get MYR (6 billions x 30%) = MYR 1.8 billions. I will use this MYR 1.8 billions to kickoff the Project. Upon completion of these JVs I will still get my Capital @ MYR 6 billions. After the JVs were completed I will get MYR (6 + 1.8) billions = MYR 7.8 billions. From this amount I will pay MYR 2.8 billions to pay for the Project and I will have MYR 5 billions profits. I will use this extra MYR 5 billions as investments. Whatever money I can get from the investments will be used to subsidise operating expenses of the LRT. By doing this I can provide 'a subsidized public transport services' for everyone in Kuala Lumpur. Unfortunately my proposal was rejected outright. I got a 'No' within minutes. I WAS INSTRUCTED TO SELL ALL THE VACANT LAND. VIA OPEN TENDERS. I followed this instruction. The first few pieces of land was sold at far below market prices. All these properties were offered for much higher prices than market prices but this Evil Man instructed me to sell to his cronies @ 70% - 80% discount. I objected but the Board of Directors overruled my objections. The straw that broke the camel's back was a piece of land offered @ MYR 27/sq ft. This Evil Man instructed me to sell at MYR 0.04/sq ft. I refused and I resigned on the spot. I worked in this Company for 6 months without pay because at initial period the Company didn't have any money. After the land was sold I will be paid. A few months after my resignation I was told to go back to Company and collect my 6 months salary. I went back to my office, the cheque was ready. I asked my General Manager what happened after I left ? He told me - 1. All the MYR 6 BILLIONS WORTH OF PROPERTIES WERE SOLD FOR MYR 60 MILLIONS (99% DISCOUNT); 2. THIS EVIL MAN DECIDED TO PRIVATISE THE CONSTRUCTION OF THE LRT FOR MYR 6 BILLIONS; 3. THE GOVERNMENT WILL PAY THIS MYR 6 BILLIONS VIA THE MINISTRY OF FINANCE; AND, 4. THE COMPANY WHICH WAS APPOINTED TO CONSTRUCT THE LRT SYSTEM WAS OWNED BY THIS EVIL MAN'S BROTHER-IN-LAW.

[@SR-jt4bx]

I believe so...

[@ahmadshauki5612]

@@SR-jt4bx From 1985 to 1990 my salary remained static, I was only 35. I was denied annual increment and promotion. At 35 I was forced to leave the government service. I have no choice but to start my own business.

[@johnheah1526]

The state of Malaysia in a nutshell… pillage squander and robbing every cant it can. When will a new breed of ethical and professional Malays come to helm the economy.. is it too late?

[@drewh3224]

@@ahmadshauki5612 why were you forced out?

[@tengchristopher4851]

When this company is at its top, the management (mentally) felt very safe at their comfort zone. They're not aggressive in diversifying on other options

[@meer7391]

Err, on the contrary, Sapura was doomed because its diversifying too aggressive. And of course out of world CEO salary.

[@jimsonrangking4710]

Sapura is owned by Dr M's family. That was where the Malaysians' money money. Why should the government rescue it? Just let it collapses and gone forever.

[@creamosmalaysia1282]

Mokhzani already sold his share quite some time ago hence the name is no longer Sapura Kencana but Sapura Energy.

[@nazirulmubin5273]

@@creamosmalaysia1282 Mokhzani already sell sapura share long time ago.

[@mohdmustaqeemaminuddin5396]

They run their family aset since mahathir is being accused of tax evasion and family cronyism.

[@stormtrooper2170]

Dr. M's money is oversea.. See no touch..!👈🤣

[@lcwang3482]

Sure or not

[@Vexterian]

The fall of Sapura is due to the same reason as other failures in Malaysia, corruption.

[@asdf56953]

No reason is CEO remuneration, paying himself hundreds of millions per year

[@saadsalleh4858]

The co.initially belongs to his family.inherrited?thats the reason why he can gobble as he wishes...

[@asdf56953]

@@saadsalleh4858 exactly, thats wht gov should not bail out a private company with tax payer money.

[@nazshuairwan7376]

When u want to comment but doesnt know shit about sapura energy. This is what happens.

[@drewh3224]

The Sapura's enormous debt levels are of major concern. An analyst note by Hong Leong Investment Bank said Sapura's net debt level “continued to deteriorate” to 10.3 billion ringgit as at the end of July 2022. The biggest shareholders of Sapura Energy are The Vanguard Group (US) Inc., BlackRock Investment Management (UK) Ltd. Permodalan Nasional Bhd(Malaysia) a BlackRock Advisors (UK) Ltd.

[@Carmenfiong]

Uih. Garang shareholder2 tu

[@h30202]

Blackrock? Wt...

[@NazriB]

Lies again? Sunday Bell + Spotify Barcelona + Spank Bang + Sell Backside + Small Boy

[@dasssad5523]

It's Black Rock....hati2

[@ilyasanzo]

Ooooh 😯

[@mho4228]

Corruption sink the company

[@nikmuhdhafizharun4869]

During golden era (Sapura Kencana) it's winning many contracts including small one. Hence we give them nickname "Sapu Kencang".

[@janechew8622]

Corruption is a big part of it 😂😂😂

[@askarsepoi]

Corruption when lose power. When in power they called it national interest. Just like nobody know how to sing hoi ya hoi anymore after end last election😏

[@stormtrooper2170]

Very true...Corruption play a big part of bring a company down..👈🤪

[@shimiejazz2792]

You're 100% right

[@ytanonymity3585]

Sounds like Philippines corruption at best

[@daymay1066]

Looted no doubt.....'legally'. Just same like MAS building.....sold.....to bail out debts.....who created those debts....???

[@johnnylee6803]

It is all due to excessive corruption

[@jiaweichew3370]

Unfortunately many GLCs and government jobs have bumiputera quotas which normally end up hiring the most unwanted, under qualified or completely incompetent employees. If we take that away and promote a culture by meritocracy most of these companies wouldn’t be in trouble in the future or are in trouble right now.

[@atengku9660]

Meritocracy is good but abolish sekolah China in Malaysia first. Singapore got no China schools.

[@meer7391]

Ahhh the epitome of kiasuness. Everyone is no good except you and your kin.

[@batmen]

Look and see how many non-malays in top management post in Sapura Energy before making this statement

[@jiaweichew3370]

Again….. I don’t think many people understand how easily it is for a small group even in the top management (without some members) to make decisions or limit those that want to improve things. Those non-bumis at the top either are in cahoots with the CEO or have limited to no power and are only symbolically there to show face.

[@FakeUniverse001]

I am involved in the Oil & Gas industry. This company, which was one of the top five, caused unjust harm to local vendors before merging with Sapura. The company was formerly known as Kencana Petroleum. During that period, I successfully completed numerous jobs such as minor fabrications, valve supply, and mechanical pipeline system supply, among others. The Oil & Gas business in Malaysia is still functioning, but vendors are required to select clients strategically in order to receive full support.

[@Qasimhelpersmalaysia]

So many people comments like they know everything.. when company rise, they comment bad things, when company fall, they comment bad thing as well

[@rahmatmaon1076]

Sapura belong to Mahathir's son. Another Mahathir's son company is Konsortium Perkapalan Berhad also bankrupt 20 years ago.

[@creamosmalaysia1282]

Mokhzani already sold his share quite some time ago hence the name is no longer Sapura Kencana but Sapura Energy.

[@drewh3224]

Mahathir could be the most corrupt individual, greed and a most toxic hateful lier in the entire Malaysia history, and considered a long span of his in the political dynasty in Malaysia.

[@doreimiii]

Mangkuk

[@rahmatmaon1076]

@@doreimiii mesti ada DNA mahathir kuty

[@poonang989]

Everything the Sons touched on turned shit Instead of gold, guess where the money came from. The genuis would tell you from the sky, and most amazing thing they dont pay a single cent of tax. Bail them up. Wow.

[@Aequitas6228]

Son of former Malaysian prime minister one of the largest shareholders in the company

[@anyhowsay8659]

Only in Malaysia you can find ineffective leaders paying themselves millions to run the companies to the ground. 😅😂

[@h30202]

Wrong, not only in Malaysia. It is a global pandemic, especially in the west. Top 1% of any country is of a race of their own.

[@rhyd3n]

​@@h30202 nah, we are seeing more and more Indian leaders lately, in the UK and some of the biggest US company .. the point of holdings by country's own race is no longer valid valid except Malaysia

[@meer7391]

@@rhyd3n clearly your racism make you blind. Before the downfall, Sapura energy top management team is full of Indian citizen. Please do some research, racist.

[@Qasimhelpersmalaysia]

@@rhyd3n and China as well, and India as well. Your comment is just stupid and racist

[@dolores6513]

All over US

[@broc7473]

Well, who sit on the board matter? And when exclusivity applies, not only in sapura but also others like proton, etc.

[@ksspider4878]

Poor management

[@astakonaaves8029]

Malaysia = Poor Management

[@stormtrooper2170]

Corruption not poor management..!

[@astakonaaves8029]

@@stormtrooper2170 Both

[@cb250nighthawk3]

Lapdog management.

[@akmalhafiz8763]

​@@stormtrooper2170 how about both.

[@cherubimcherubim9515]

I m from Malaysia never even heard of sapura until today. No it's not the largest private company in Malaysia. Its not even in the top 20. Malayan Banking Berhad. Public Bank Berhad. ... Petronas Chemicals Group Berhad. ... Tenaga Nasional Berhad. ... IHH Healthcare Berhad. ... Top Glove Corporation Berhad. ... CIMB Group Holdings Berhad. ... Press Metal Aluminium Holdings Berhad.

[@alhaqdaud3404]

U r right, possibly top 40,n if BUMI shuld b top 10. If u r arrogant, not competent, surounded by lousy advisers jus wait for the doom.

[@drewh3224]

FYI, Sapura isnt a private company, it is a public's like Petrona or PNB, or MAS or Proton..

[@h30202]

Thank you for that list.

[@dimitriymirovsky]

Sapura biggest mistake was borrowing lots of money pushing them into endless debt trap. Can not tell how many times they kept refinancing their debt and making more debt along the way. They just overestimate their rapid expansion and paid the price. At the same time top executives got hefty bonuses for years which decimated their hard earned income and profit. When c19 happen, o&g business went into trouble as no plane on the sky, tourism stopped, bussiness got into troubles as sales incapacitated due to lockdowns. They have balls to asked for bailout from the Malaysian gov expecting Petronas to takeover their debt. Luckily the government changes hand last year and saves billion of dollar of taxpayer money from being wasted.

[@minra.k]

I agree with this viewpoint as I was working in their corp hq during their boom time, SKPB (as it then was) was over-borrowing to support their operations and orderbook, but when oil prices took a nose dive, the troubles began, unfortunately, this downfall is inevitable, you can't keep expanding on borrowed money, it is just not sustainable. Politics, as many have said is not the cause in my opinion but rather just unbridled ambition driven solely by short-term gains, without consideration for long-term risks or sustainability.

[@brucekwan1911]

When Matnor runs a company, he runs it to the ground.

[@cb250nighthawk3]

Six feet underground... 🤭

[@Iwantmilk0]

what to expect when putting top management based on race instead of merit and expertise

[@chandakumar8035]

Well said

[@jameschua3135]

Obviously the writer does not know Malaysian politics and its behind the scene interference.

[@dogymal7260]

It is politic heavily influenced company. When cronies lost political power they don't have enough contract to sustain.

[@singa68]

This what happens when you hire CEO'S based on race and not qualifications.

[@Lan-in1ey]

It's true my Friends, majoriti insite position is are friend,neighour and family geng.

[@kentershackle1329]

Shows ya racist mind..LoL. Sapura was a private company, it grew n diversify from telco to O&G... as it grew became PUBLIC LISTED with shares bought over by numerous FOREIGN investors. CEO are collectively AGREED by Major Shareholdes BOARD OF DIRECTORS If ya use ya pea brain, and just look pass ya stinking Racist eyes.. LoL.

[@saadsalleh4858]

Then the CEO started to round up friends and paid them fat salaries to clown around him not to contribute to the sapuras performances...mh370?

[@franzwaimena8766]

Yes it was good times for those rats running the show until shit finally hit the fan

[@meer7391]

Err , the Sapura CEO is also a stakeholder. This is more of greed issue. Nothing to do with race. Malaysian will quickly escalate everything towards race and religions. What a shallow minded fellows.

[@felreizmeshinca7459]

From what I know, Sapura's down fall is because they kept buying assets during the oil boom. Not taking into account what if the oil price falls. Maybe some political-related decisions did affect the share price, but that should only be temporary/minor. What caused it to go lower is in the financial report. It is more towards mismanagement. That is why they have a large debt as the "demand" for oil lowers. Compare it to a shipping company in Malaysia that took the opportunity to sell their assets during the Pandemic when the shipping industry is booming. That was a good opportunity. Just my 2 cents.

[@drewh3224]

Agreed

[@meer7391]

Finally, a sound explaination. Rather than blame politics and harping on racist issues. The main problem is the managament bad decision makings.

[@amistradd5392]

facts! when ineptitude and management decision is enough to explain SPNG downfall, instead some people drivel about corruption and leakages.

[@feintfaint7213]

sounds reasonable

[@yuhanayaacob4021]

What a waste of the country's money due to bad management😡😡😡

[@iamgreat1234]

Sapura depends on government handout so when UMNO lost election in 2022, Sapura also lost their lifeline

[@meer7391]

This fella is a good example of "kid trying to be genius" :p

[@BorneoButterfly]

Is NOT the largest company in Malaysia! Get your facts right!

[@drewh3224]

Many facts were wrong.

[@faisalz8849]

Sampah yt channel ni

[@thevindictive6145]

Honestly the downfall of certain politicians will mean the end of certain mega companies in Malaysia. Why because the politicians and family are the probable owners.

[@meer7391]

Many not from oil and gas background commented like a genius here. For start, sapura energy is a service provider, thus it is heavily relied on companies that owns oil blocks such as petronas, shell etc. Sapura is not in the same league with petronas, shell, aramco and other giants that owns and produce the oil. Service providers have always expose to risks when they fail to secure contracts. This, and combine with bad decision making during the oil crisis, has doomed sapura.

[@LimWeeChoon]

I agree on this point but Sapura has also an over bloated fees to its top management plus some dubious financial management. Therefore, their downfall is even quicker and are not able to capitalize the gain when oil market recovers. Now, we can see the same trend with KNM.

[@meer7391]

@@LimWeeChoon cant agree more. During the 2014-2016 oil crisis, staffs perks and benefit were halted, VSS was then involuntary offered. But the C suites and top managament fees and perks were untouched, and worst its keep increasing even during the crisis.

[@minra.k]

@@meer7391 yeah, correct, I remember this :D

[@yongsammy2563]

agree

[@peika8324]

Malaysia…. Ahh my beloved country. So much potential yet wasted away, we could have surpass Singapore maybe even Korea. But the opportunity is long gone, but we still have time to be better. Together, Malaysia boleh

[@akifiskandar4186]

Without investing in R&D and innovation as well as a skilled workforce (talking about TVET here), we are still far away from being comparable to Korea or Singapore

[@Abdul_hanif123]

I still hold Sapura share.. (0.040)

[@akmalhafiz8763]

Throughout the entire video, there's no mention of corruption. But down at the comment section, it's a different case entirely. I wonder if you all only saw when a malay run the company, it would be corrupt, and if chinese run the company, it would be good. Do note that in mainland China, corruption over there will make Malaysia's corruption looks like an adult giving a children candy.

[@meer7391]

Wonder why these kiasus keep on harping racial sentiment when there is a malay involved. Guess racism is in their DNA.

[@cwlo-yo6fz]

Sapu too much too fast

[@presidentofasshole1441]

as normal malaysian, this is the first time i heard about this company

[@heesingsia4634]

Wow. I'm sure 1mdb also you never hear before

[@rup_rechtintraco7229]

not normal bro

[@accdgg5027]

You're kidding or living else where

[@rollinghippo2940]

@@heesingsia4634 +4000 social credits. Thanks for reporting that

[@rujhannalsor3638]

what a shame

[@ilzafmuhdmustafa805]

Sorry, u got the wrong flags of Malaysia... Those star should be 14 points, not 7 points like in this video

[@saitouyuuji2290]

Yeah that flag they shown is blasphemy

[@drewh3224]

This video host have no clue!

[@rosihantu1]

If your incentives are your order book, how long before you start underbidding and then blame your operations for not performing?

[@victorea90]

Sorry but it is not an unfortunate event, it is purely bad management decisions

[@daniellee475]

How it get there in the first place.. Which former prime minister son related with this company?

[@hoehoe4852]

How can not lost money look at de CEO, DIRECTOR how much dey get annual salaries not include Bonus yet, those had it share will suffering too

[@jayque]

Why couldn't they secure orders like before? That wasn't answered. Cause they were doing so well so why did they lose their orders?

[@000pete9]

Such company shouldn't get " social security " in form of taxpayers money. Private company's liability must not be the taxpayers liability.

[@drewh3224]

Sapura isn't a private company, but a public one like Patrona or PNB.

[@askarsepoi]

​@@drewh3224when lost power everything will be blamed and cursed. When in power everyone just lick and suck each others. Such rubbish politicians culture 😏

[@Mister_Hu]

Released/ lost top field engineers/ managers to carry out projects due to cost cutting by the inexperienced executives who paid themselves handsomely doing nothing but harm to the company. Most of them are still with the company micro managing people because they don't have a clue.

[@azben7986]

Malaysia flag should have a 14 edges star.not only 5.

[@astakonaaves8029]

Liberia Flag

[@drewh3224]

@@astakonaaves8029 my goodness, Malaysia isnt Liberia!

[@selvarajuperumal]

The Company's business involves in dealing with high volatile merchandise. The Company has no control over price fluctuation of the merchandise, which is subject to trends of Demand and Supply. Hence, the Company's performance is determined by market force. However, the top officials of a Company play an important role in determining the rise and fall of the entity. We have heard of political interference in the management of Sapura Energy, at home and people of less caliber helming the National Company. This could be one of the many contributing factors that may have brought down the Company.

[@TheDevaser]

Obviously

[@ickleronny]

Political inteference is a given, since it's a GLC

[@jefriizal6132]

In Malaysia is all about who you know, the politicians.

[@hclau218]

This Vlog is absolute nonsense. Know nothing about Malaysia or how it operates. The author knows nothing about "bumiputra companies" and "Affirmative actions" Malaysian style...

[@ramumanickam1643]

If he speaks he will be jailed

[@rollinghippo2940]

Racism against indians and asian is also high here in usa especially canada after an indian-origin stabbing a canadian man scolding him for vaping in front of her daughter

[@luqmanhakim5057]

Typical non malay or non bumiputera when see a Fail malay company : quota, bumiputera, malay, or smthg similar Successful malay company :😶😶😶

[@hclau218]

@@luqmanhakim5057 Look into the history and operations of Sapura - then tell me it is otherwise.

[@behuman3852]

​​​​@@hclau218 what about Petronas?, can't the non malays gives some credit to the malays, afterall Petronas are the largest income provider for the existence of Malaysian economy that benefits all msian's be it malay, chinese, indians, and our brothers and sisters in sabah and sarawak. Why Chinese and Indians are so bitter with the bumiputera status while 10 billionares belongs to your group of people, corruptions in Msia are across the board and tell me who are the largest group being the givers, lobbyist and it all started from that point!!

[@socratesii91]

Sapura Energy is own by former Prime Minister son. And now daddy is not in charge anymore, the consequences.

[@darknight-890]

Oil and gas sector not good at this moment, instead E&E sector going hike due to demand from tech company especially chipset and processor production.

[@danishh1385]

Great content but you need to do more research about Malaysia

[@hclau218]

Bullcrap.. how can it be "great content" when the author got almost everything wrong about Malaysia.. even basic facts. This author is too lazy to do the nominal research necessary. Everything is heresay and imagination...

[@drewh3224]

This channel has been known of no facts!! That's why I wasnt subscribed it. You should to!

[@ageeibc6029]

Sapura is under Badawi's family too, if l am not mistaken. It was doing very well. I was happy for them. But oil business like Shell doing so well in this troubled times. Need very close scrutiny.

[@yusofjohan3456]

Topglov also fall down due to post covid 😥😢

[@saralanarayanan9965]

Nothing new when corruption is a way of life in such companies here and when managed by cluesless mgt adds to the problem.

[@ahmadfirdausshahari9268]

Largest private company is petronas not sapura..

[@felreizmeshinca7459]

Petronas is wholly owned by the Malaysian government. It is considered a government-linked company or a state-owned enterprise.

[@cloudsephirot4146]

its actually maybank

[@romerising5865]

khazanah nasional and permodalan nasional berhad is the government investment company as such biggest private company

[@chuahhockleong9916]

​@@cloudsephirot4146Maybank is a public company.

[@viswanathan2054]

Mamak kutty still says the Malay bumiputra in Malaysia is poor...so he wants to make them rich. This is round 2 to further enrich only his family and cronies. This fellow is a real crook.

[@swindle888yamani2]

Anak mahathir punya

[@jamescool3424]

Sapura Energy still owed a lot of companies a lot of money. My current company hired quite many of ex-Sapura employees. But the employees seems like very proud and said how glorious it was when working with Sapura. Oh ya, the working attitude in Sapura is blow water all the way to top management. Cannot deliver work but talk shit the best

[@BeeBeefy]

Its corruption dude. Hiring incompetent heads

[@batmen]

If you ask me, one of the reason why this company is falling is that the CEO or top Exec do not have experience managing a billion size company. It is a different 'ball game' if you are managing this size. Please comment if you agree or disagree

[@leewanwan9782]

There's a story being told that after th 1st wife died, founder of the company married a foreigner. After that the founder died, then the foreigner wife took alot of money belongs to her from the company to her original country. That's the reason this company facing downfall

[@leezhieng]

sapura is a public company. it's quite impossible she can withdraw any money like this.

[@leewanwan9782]

@@leezhieng why can't she sell her share ?

[@leezhieng]

@@leewanwan9782 selling her shares won't affect the company's cashflow as other people will be buying over her shares.

[@songyong2395]

Lord Acton quoted :" Power tends to corrupt, absolute power tends to corrupt absolutely !"

[@GunaApandi]

Hopefully now in this new Malaysia under Anwar, it is not whom you know but what you know. Gone are the days where corrupted ways of royal link, political link and close door tender are the norms. Now, you win government contract through your ability and knowledge in an open tender, period.

[@brewnan83]

🟠🟡🟢 47 cases...sembang kari...

[@Amailn]

Day dreaming 🤣

[@GunaApandi]

@@Amailn no, not day dreaming but a hope. That is why I said, hopefully. Anwar given us a fresh start from all the past corrupted politicians and terrible culture.

[@Amailn]

@@GunaApandi economic more worse rakyat sengsara..u tau ape

[@GunaApandi]

@@Amailn you tahu banyak ker? Kokplok! You lebih suka M’sia dlm tangan korupsi, ya? Economic wise, if global recession or hyperinflation, whether under the hand of corrupted politicians or Anwar, it make no different. M’sia akan suffered juga. Tapi sekarang, Kita at least tak ada teruk korupsi dan ada positive development for the nation.

[@sengwahyu2443]

Corruption... kills.

[@rujhannalsor3638]

hopefully, sapura could and will recover strengthen back and this year could be a prosperous year for sapura. amin

[@ghostblind69]

Sapura pembunuh syarikat melayu.. Harap bungkus secepat mungkindengan izin Tuhan insyaAllah..

[@JohnDoeTheFirst]

Xyah amin, aq belum seludup duit habis bodo

[@honeyot425]

At 0.045 sen per share, it will be a miracle

[@youtubewatcher3467]

Sapura is a source of income for the corrupted politicians who are falling down one by one now. There is no way for it to keep standing.

[@vitammsdnbhd2402]

The final set of asset and goodwill write-offs are done. EBITDA has been positive the last 4 quarters. Once 75% of suppliers accept the repayment plan, the company will proceed to exit the PN17 status. Tailwinds are strong for the next decade, with major hydrocarbon supplying countries intent on maintaining crude & natural gas prices, by cutting supply whenever the price drops. Sapura will rise again.

[@johnkoaycentury9296]

Your video has told us nothing.

[@ratupengantin2884]

Semoga Petronas tidak mengalami hal yang sama,, Salam from Indonesia

[@rianto8884]

Petronas won't have the same fate cause it have return to the rightfully owner and dats is Philippines

[@grandmasteryoda6929]

​@@rianto8884 Pinoy as usual, sleep a lot, dream big, big mouth repeat. Take care of your slums in the Manila first

[@meer7391]

​@@rianto8884 emm, have you had your pagpag today? Seems you are hallucinating.

[@syafiqzainal2174]

@@rianto8884 Keep telling yourself that 🤣

[@honeyot425]

​​@@rianto8884 keep telling that to yourself...even sabahan dont want to be with you..hehee. where was phillipine when we were invaded by japan?

[@francislai7632]

The first thing I notice when looking at the brand name Sapura is the logo. It's just so NEGATIVE.

[@janleeintube]

Tsk, tsk, tsk...no wonder investors stayed away from Bursa 😢😅😅😅

[@arhamhaziq4276]

Sapura? I'm a Malaysian and I've never heard of it. I only know Petronas if you say oil in Malaysia... And food too

[@rubiahlai821]

Will ok.. 2023.. praying..

[@JJJJJYT2205]

God is the best ever

[@SleepyOx2023]

Which means its deals were never profitable in the first place as salespeople get more comissions the more unprofitabe a deal is? Someone needs to open their books to see what their deals actually cost and which individuals actually lost them money.

[@Searth63]

..more useful, is if the Forensic Internet Sleuths out there would reveal the Salaries, Relationships of the Executives in such companies. Otherwise the same game shall continue

[@MadryLinus]

Kmi war ga...sabahan..keluarga semananjung..bantu kami dri segi apa pun...kmi masi daif d sni...Salam....

[@Onion_Knights]

🤔 ini indo ke?

[@cslow758]

How can the conclusion as "unfortunate events"! Why other similar companies not collapsed? It could due to poor and ego management, over leverage that always thought government will bail them out

[@Kira-tb7jv]

Even new Prime Minister seen as progressive reformist, Anwar, still keeping political appointment culture alive 😂

[@hengleekai7788]

Sapura energy is not build bit by bit but was aquire through M&A causing it have a lot of big debt and bad asset.

[@yadbes9924]

According the Apple's Steve Job, the quality of the people have been always the KEY of rise or downfall of a company. If a bumi company let non bumi to share the leadership, it may last a little longer, 100% bumi = 100% failure

[@burnoutminion]

😂😂😂

[@user-fs7dv3bq2v]

Exactly, look at the hiring practices of non-bumi companies: Very transparent and not clan-based at all. In Sapura Energy’s case, its rise to world leading status can NOT be attributed to its former employees (majority Bumi??) but its failure certainly can be reduced to the same Bumi employees. Excellent logic 👍🏽

[@meer7391]

There you go. Another ah chong playing with the racist sentiment. Sapura Energy is a global company, with stakeholders and top management with diverse nationalities. Lucky they dont put so many ah chong in high positions, the kiasus will doomed the company faster. Take Sapura Fabrication for example :p

[@dastanharris]

Agreed we need more Jho Lows to run bumi company 100% will strive and last forever

[@streetbreednorthborneo6887]

it been striving for the past decade with bumi's leadership, but no one bat an eye. Typical kiasu

[@jennytan4509]

THE BOARD OF DIRECTORS MIGHT HAVE BEEN TAKING TOO BIG PAY PACKETS HOME EVERY YEAR. THIS MATTER OUGHT TO BE DISCLOSED HERE. FROM THIS DISCLOSURE, WE CAN SEE WHETHER IT IS THE CAUSE OF THE DOWMNFALL AND FAILURE OF THE COMPANY. PLEASE LET US KNOW.

[@eugenelim5502]

Malaysia government will pump money to these 2 companies to rescue

[@catherinelee3111]

@@eugenelim5502 how to pump when it's a private company ?

[@eugenelim5502]

@@catherinelee3111 major shareholders are govt related. 1MDB Berhad is a private company also.

[@maumuapa4198]

thank God, Indonesia's dependence on world oil will decrease massively, maybe in 2026 we will no longer import oil, everything will be fulfilled domestically. rising oil price now is a blessing for Indonesia.🤣🤣🤣

[@stephenjames227]

Your gdp per capita is trash so start worrying about your terrible quality of life

[@yogasetiaone]

Kita lebih pake batre kayaknya

[@maumuapa4198]

@@yogasetiaone kilang minyak 2 jt barel semua dah proses, b50, Batrai. Semua energy terbaruka dah kelar di kerjain semua.

[@ethos-]

Pray harder because the newest O&G forecast show that Indonesia lack of technology and highly skilled professional worker will make it a wide opportunity for foreign company and worker. Blessed for the nature resources but unlucky to own it all because lack of expertise.

[@jagdeeshdhaliwal3848]

Missing link in this video is political, the direct link to Ex PM of Malaysia and Petronas. Projects are given most of the times not won in fair bidding process. Once Ex-PM detroned, Sapura lost immunity. Rest is history and pandora box openned.

[@lkhxlt7689]

Don't give a sh.. who is big but listen to the content to know why.... Greeds and frames of being a bumiputra company, but did the directors give any considerations to help back the Malays and country.??????

[@broc7473]

Hahaha.... That's only theory, they will never ever help, else they will lose all the crutches

[@drewh3224]

The answer is Big Azz NO!

[@dasgerbil5189]

@@broc7473 Lol, Chinese said themselves is good and hardworking but still feel poor and asking for project from these bumis company as subcon. Crutch for chinese also happen nevertheless in 2018, a middle school in mid KL obtain fund from govt, for what? To build an elevator, while many sekolah kebangsaan did not have enough chair and desk. Blind

[@meer7391]

@@dasgerbil5189 in every english media you'll see the chinese true colours, their racism is thicker than their blood. LOL.

[@ibmibm691]

They got rich out of cronysm and nepotism. When their master is ousted, their sand castles crumbles.

[@tonysworld1312]

There is no a clear picturehere for the real cost of the failure