KUALA LUMPUR (Dec 14): Sapura Energy Bhd chief executive officer (CEO) Datuk Mohd Anuar Taib said the group's asset divestment strategy is progressing well and is confident that the group will benefit from the exercise.
Anuar, however, did not elaborate further on the details of the asset divestment strategy.
“It’s too early to tell. There are a few other businesses that we are reviewing and we have not completed our review yet.
“And this reviewing exercise has got a lot to do with where we want Sapura Energy in the future,” he said during a virtual media briefing on Tuesday (Dec 14).
Sapura Energy chief financial officer Andy Chew said the group has not set any financial target on its divestment strategy, adding that it will thoroughly review its core and non-core assets.
“At the moment, we don’t have a fixed target as to how much proceeds we are trying to get from this asset divestment strategy.
“We need to first understand what we need and what we don’t and whether there is an opportunity for us to monetize these assets,” Chew said.
On the group’s bidding strategy for future projects, Sapura Energy engineering & construction CEO Ahmad Zakiruddin Mohamed reiterated the group’s stance in assessing each potential project based on its own respective merits.
Zakiruddin said an in-depth assessment will be done by the group which takes into account all aspects such as countries, dependencies on third parties and risks.
“I think in the past, whilst we were trying to grow our global footprint, we needed to get to the point where we reach enough recognition globally from different regions and clients.
“Now that we have come to a point where there is a reasonable amount of recognition, we can be a lot more selective in our bidding assessment,” he said.