Shahriman Shamsuddin resigns from Sapura Energy Board amid ongoing dispute, MACC probe
In a filing with Bursa Malaysia, the company said Shahriman stepped down due to other personal commitments, adding that there were no disagreements with the board and no matters requiring shareholder attention.
According to the company's latest annual report, Shahriman holds an indirect 11.25 per cent stake in Sapura Energy via Sapura Holdings Sdn Bhd, alongside his brother, Tan Sri Shahril Shamsuddin, who also holds a direct 0.95 per cent stake.
Shahriman's association with the group dates back to 2008, when he served as a director of SapuraCrest Petroleum, prior to its merger with Kencana Petroleum in 2012 to form SapuraKencana Petroleum Bhd, later rebranded as Sapura Energy Bhd in 2017. Shahril, the group's founder, led the company as president and group CEO for 25 years, retiring in March 2021.
His resignation comes amid a high-profile legal dispute between the brothers. In September 2024, Shahriman filed a petition to wind up Sapura Holdings, the family's private investment vehicle, citing the need for a fair division of assets. Shahril is opposing the petition, and the case is currently pending in court.
This marks Shahriman's second resignation in recent months, following his departure as managing director of Sapura Resources Bhd on October 29, 2024.
The announcement also coincides with news from the Malaysian Anti-Corruption Commission (MACC), which on the same day confirmed two ongoing investigations involving Sapura Energy. The probes relate to the alleged misuse of RM12 million in 2018 and a separate US$3.3 million (RM14 million) bribery case from 2011, when the company operated under the name SapuraCrest Petroleum Bhd.
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