sunztzhekahhoeng, The new normal price of crude oil at + or - USD 80/barrel would force an industry wide shakeout. We are just at the cusp of a new beginning of a global industry shakeout. UPSTREAM service providers will also be impacted. High capex projects for deep wells with production cost of USD 80/barrel is not economically feasible anymore. Major Oil & Gas companies had already made that decision. The UPSTREAM OIL & GAS SWAN had suddenly become an UGLY DUCKLING.
There will be also a shakeout of the upstream SERVICE PROVIDERS AS WELL.
JayCwhen is the EGM to vote and announce dividend distribution?
kahhoengI have waiting til my neck is long... sigh, why so slow?
sudahkenaMaybe they also 50-50.... if azmin not agree..
kahhoenghng33, if I were not wrong, current offer for Puncak is 6.155 billions, with equity portion of it valued at 1.553 billions, right? That would assume the debt portion at 3.336 billions. Though, a recent relook at Puncak recent quarter report, it has only total liability of 2.819 billions. So, where does the difference of 517 millions go?
kahhoengWith the total liabilities of 2.819 billions, that would assume Puncak's other businesses carries no debt or other kind of liabilities, phew!
hng33Total offer for Puncak is RM 6.155bil, with its 100% own unit, is PNSB RM 2.912b and its 70% Syabas is 3.23bil. The offer for PNSB in turn divided into equity portion: RM 1.1175bil and assets/liab assume RM 1.7950 bil, On the other hand, Syabas equity portion is RM 427.5m and assets/liab is RM 2.80 bil.
In the Puncak current balance sheet, it did not consolidate its 70% syabas as it have apply different accounting policy with reason that even Puncak control 70% syabas but it fail to execute control over syabas due to Fed giv have golden share and every policy need secure approval from both State and Fed gov, therefore, syabas is only equity account instead of consolidate account in Puncak