SAPURA Energy Bhd has granted chairman Mohammad Azlan Abdullah leave of absence with immediate effect to allow him to focus on ongoing investigations by the Malaysian Anti-Corruption Commission (MACC) on an unrelated matter.

During this period, Sapura has appointed non-independent non-executive director Shahin Farouque Jammal Ahmad as its interim chairman until further notice.

“We wish to reiterate that Sapura’s business will continue as usual, including its ongoing debt restructuring efforts. As a responsible publicly listed entity, we comply with the highest standards of corporate governance, transparency, and integrity in all our operations. 

“We understand the significance of keeping our stakeholders informed, and will provide updates when there are pertinent developments on this matter,” said the group in a stock exchange filing today, reported The Edge Malaysia.

Azlan was appointed to Sapura’s board in October 2019, and was made the chairman in May 2022.

Yesterday, MACC deputy chief commissioner (operations) Ahmad Khusairi Yahaya revealed that the anti-graft agency had arrested the chief executive officer of a highway concessionaire in the Klang Valley.

Projek Lintasan Kota Holdings Sdn Bhd (Prolintas), meanwhile, said it is “aware that our personnel have been remanded by the MACC to assist in an ongoing investigation relating to a construction case”.

Azlan has been the CEO at Prolintas since 2017.

Shares in Sapura were traded unchanged at four sen at the afternoon market break today, giving it a market capitalisation of RM735.04 million.

Prolintas Infra Business Trust was trading at 89 sen, two sen or 2.2% lower, valuing it at RM979 million. – June 26, 2024.