PETALING JAYA: The latest contract win amounting to RM611mil by Sapura Energy Bhd
is positive news at a time when jobs are scarce in the oil and gas (O&G) sector.
However, the immediate challenge is the RM10bil debt which needs to be refinanced with 14 banks by next month, according to AmInvestment Bank.
This could mean “additional equity-raising exercise in the pipeline that will translate to massive dilution given the current low share price”, said the research firm in a report.
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