Sapura anticipates unrealised forex losses

Quick Summary:

Sapura Energy Bhd, which slipped into losses in its latest quarter due to the stronger ringgit, cautioned shareholders that "foreign-exchange (forex) volatility” may continue in upcoming quarters.

This highlights the essential need to restructure the group’s debt portfolio, he said.“We are actively collaborating with lenders and creditors to expedite this restructuring process to ensure greater stability for the group in the future.

Cumulatively, for the first half of financial year 2025, Sapura Energy reported a net profit of RM76.9mil, a drop of 59.3% y-o-y.

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Article Details

Author / Journalist: GANESHWARAN KANA

Category: EconomyBusiness

Markets: Malaysia

Topics: EnergySector EarningsImpact CurrencyFluctuations Corporate News /Business/Business News OperationalChallenges DebtRestructuring SapuraEnergy FinancialPerformance

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-27 @ 00:00:00 (13 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 429 words

Reading Time: 3 minutes read

Sentences: 19 lines

Sentence Length: 23 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Star

News ID: 22735736

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