In a filing with Bursa Malaysia today, Sapura Energy said Sapura Fabrication was served the winding-up petition and affidavit verifying petition dated March 3 taken out by Posh Subsea Pte Ltd.

It said Sapura Offshore was served a winding-up petition dated March 4 taken out by Lincoln Energy Sdn Bhd.

Sapura Offshore was also served a winding-up petition and the affidavit verifying petition dated March 3 taken out by Semco Salvage (V) Pte Ltd.

Sapura Project Services was served a winding-up petition dated Feb 28 and the affidavit verifying petition dated March 1 taken out by Danamin (M) Sdn Bhd.

For the financial year ended Jan 31, Sapura Energy’s net loss widened to RM8.9 billion from RM160.87 million a year ago.

In a recent filing, it said revenue declined to RM4.13 billion from RM5.35 billion previously due to the lower percentage of completion recognised in the current year, resulting from recognition of foreseeable losses and higher project costs in the engineering and construction business segment.

It said that segment and the operation and maintenance businesses continued to face execution challenges, mainly due to disruption from Covid-19 and lack of access to adequate working capital facilities despite the market recovery in the latter part of the year, which had brought improved performance from its drilling segment.

“Our situation was further compounded by some operational underperformance in certain projects,” it said.