Financially beleaguered Sapura Energy is battling hard to retain its status as a top flight Malaysian contractor to the oil and gas sector but the company admits to facing challenges in rebuilding its order book.
Sapura said that is facing a drawback in efforts to rebuild its order book, given the limited access to bank guarantees and working capital facilities during its restructuring phase, which is particularly impacting on the engineering and construction, and operation and maintenance business segments.
As part of its efforts to improve overall cash flow, Sapura Energy is committed to continuing its review of underperforming contracts as well as renegotiating commercial settlements with customers, the company said.
While its E&C an…
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