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Sunrise Energy vociferously denies any and all allegations of improper financial management contained in a Business Report article on 29 October 2021 entitled “PIC to write off R1bn investment in Sunrise Energy?”. 

In the article, Sunrise Energy is falsely accused of having received a loan from the Public Investment Corporation (PIC) in excess of R1 billion, and that this was done with the assistance of Sunrise Energy shareholder Mining Oil and Gas (Pty) Ltd (MOGS). It is further falsely accused of not having serviced this loan. Further false aspersions are cast that our chairperson, Ms Albertinah Kekana, stated that I am retiring as CEO of Sunrise Energy under a cloud of suspicion. No such statement was ever issued, and these allegations are completely untrue.

The facts are as follows.

In May 2017 the PIC made a loan of R150 million to Sunrise Energy. That loan has been serviced, and in fact is due to be repaid much earlier than the original loan term, due to the current restructuring of Sunrise Energy’s senior loans. 

In addition, I will be retiring on 31 December 2021 at the age of 67, after a long and distinguished career. This was recorded in a press statement by Sunrise Energy’s chairperson, Ms Kekana, on 12 October, when she stated:

“Mr Coetzee joined Sunrise Energy at a critical time in 2015, bringing more than 20 years of experience in the Oil & Gas industry. He presided over the construction of the terminal in Saldanha. Operating at 100% efficiency from the start of its operations, the Sunrise terminal has provided domestic and business consumers in the region with an affordable and reliable supply of LPG.

The Board of Directors at Sunrise would like to thank Mr Coetzee for his exceptional leadership and wish him a peaceful and happy retirement.”

I will nevertheless maintain close ties with the company during 2022 to assist with various matters.

Any suggestion of any improper management – financial or otherwise – at Sunrise Energy is therefore rejected with the contempt that it deserves. 

Sunrise Energy is taking legal advice on its available legal options to deal with the blatant lies and false accusations peddled by Adri Senekal de Wet, Business Report and Independent Media, notwithstanding that all the correct facts were provided timeously before Business Report went to press.

Issued by Pieter Coetzee, CEO of Sunrise Energy (PTY) LTD