Explain RM2.7bil injection into Sapura when you were govt, Najib tells PH
Najib Razak says he welcomes a forensic audit on Sapura Energy Bhd if there were suspicions of mismanagement or irregularities.
PETALING JAYA: Former prime minister Najib Razak wants Pakatan Harapan (PH) to explain why it pumped RM2.7 billion into Sapura Energy Bhd (SEB) in 2019, despite knowing that its former CEO Shahril Shamsuddin was given a huge compensation the year before.
He was referring to the amount injected into the company by Perbadanan Nasional Bhd that made the GLC the largest shareholder in the oil and gas company.
“At the time, this former CEO had also put RM500 million of his own funds into SEB,” Najib said.
Explaining that the RM71.92 million compensation paid to Shahril in 2018 was not “just his salary”, Najib said it included dividends, rentals owed by the company for leasing his premises, bonuses, and compensation for providing a personal guarantee for the RM18 billion loan the company had taken.
According to Najib, in 2018, when the compensation was made, SEB was still a private company with Shahril holding the highest number of shares.
“So with SEB being a private company, the government did not have the right to interfere with any payments made to the management because it was the board of directors who approved them,” he said in a Facebook post today.
Najib claimed that Pakatan Harapan (PH) was just using the high compensation paid to Shahril to whip up the people’s sentiments on the issue.
He then pointed out that the total amount paid out to Shahril was not the highest for a CEO in the country in 2018.
“The highest that year was paid to the Genting Bhd CEO, who earned RM248 million,” he said.
“So, why can’t the SEB CEO be paid a high compensation like his counterpart from Genting?”
Najib also welcomed a forensic audit on SEB if there was any suspicion of mismanagement or irregularities.
He said that he had asked for a full investigation into SEB in the past.
He also reminded his critics that the country will not gain anything if SEB, which is said to be the second largest in the world in offering oil and gas services, collapsed.
“Do we allow this to happen by using emotions and feelings of hatred against a former CEO who is no longer the main shareholder?
“And thus, allow a Malaysian and Bumiputera-owned oil and gas company which is among the largest in the world to be taken over by foreigners at a time when the oil price is high?” Najib asked.
PETALING JAYA: Former prime minister Najib Razak wants Pakatan Harapan (PH) to explain why it pumped RM2.7 billion into Sapura Energy Bhd (SEB) in 2019, despite knowing that its former CEO Shahril Shamsuddin was given a huge compensation the year before.
He was referring to the amount injected into the company by Perbadanan Nasional Bhd that made the GLC the largest shareholder in the oil and gas company.
“At the time, this former CEO had also put RM500 million of his own funds into SEB,” Najib said.
Explaining that the RM71.92 million compensation paid to Shahril in 2018 was not “just his salary”, Najib said it included dividends, rentals owed by the company for leasing his premises, bonuses, and compensation for providing a personal guarantee for the RM18 billion loan the company had taken.
According to Najib, in 2018, when the compensation was made, SEB was still a private company with Shahril holding the highest number of shares.
“So with SEB being a private company, the government did not have the right to interfere with any payments made to the management because it was the board of directors who approved them,” he said in a Facebook post today.
Najib claimed that Pakatan Harapan (PH) was just using the high compensation paid to Shahril to whip up the people’s sentiments on the issue.
He then pointed out that the total amount paid out to Shahril was not the highest for a CEO in the country in 2018.
“The highest that year was paid to the Genting Bhd CEO, who earned RM248 million,” he said.
“So, why can’t the SEB CEO be paid a high compensation like his counterpart from Genting?”
Najib also welcomed a forensic audit on SEB if there was any suspicion of mismanagement or irregularities.
He said that he had asked for a full investigation into SEB in the past.
He also reminded his critics that the country will not gain anything if SEB, which is said to be the second largest in the world in offering oil and gas services, collapsed.
“Do we allow this to happen by using emotions and feelings of hatred against a former CEO who is no longer the main shareholder?
“And thus, allow a Malaysian and Bumiputera-owned oil and gas company which is among the largest in the world to be taken over by foreigners at a time when the oil price is high?” Najib asked.
Wakakakaka…
ReplyDeleteWhat an hindsight!
What would jibby do in place of PH?
More of the same!