Posted by Ninja _07 > 3 weeks ago | Report Abuse

@pakabu ... 😂

Posted by i7investors > 3 weeks ago | Report Abuse

​practice note (ii) a significant change in the business direction or policy of a listed corporation; or

(iii) any other corporate exercise which the Exchange considers to be material;

Posted by Ninth007 > 3 weeks ago | Report Abuse

KUALA LUMPUR (April 22): Investors of Sapura Energy Bhd await the material announcement hinted at last Friday's noon break by the oil and gas services company, which is in the midst of formulating a regularisation plan to address its Practice Note 17 status.

Shares in the company, which undertakes upstream operations and maintenance, offshore fabrication, and drilling services, have been voluntarily suspended from trading since 2.30pm last Friday afternoon.

The suspension points to potential sale of its 50%-owned upstream unit SapuraOMV Upstream Sdn Bhd.

The other 50% stake in SapuraOMV is in the process of being acquired by TotalEnergies from Austria’s OMV Aktiengesellschaft for US$903 million (RM4.32 billion). OMV sold the stake as part of its group strategy that shifted its focus away from Australasia.

OMV bought into SapuraOMV back in 2018 by subscribing to a 50% stake for US$540 million, plus repayment of US$350 million in intercompany debt.

It was reported that Sapura Energy was looking for US$1.2 billion for its stake in SapuraOMV.

SaspuraOMV operates the Sarawak gas fields of SK310 (with a 30% stake) and SK408 (40% stake). It also owns 40% of Block SB412 offshore Sabah, and 30% of Block 30 offshore Mexico, as well as other offshore exploration permits in Western Australia and the Taranaki Basin in New Zealand.

TotalEnergies’ transaction price for the 50% stake in SapuraOMV is bigger than Sapura Energy’s market capitalisation of RM826.92 million, based on its last traded share price of 4.5 sen prior to the suspension.

As at end-January, Sapura Energy had negative total equity of RM4.19 billion, against cash of RM1.45 billion and gross borrowings of RM10.98 billion.

The group is in the midst of coming up with a regularisation plan to address its balance sheet position. At the moment, it has been given until June 10 by the courts to restrain any legal action by creditors, including local vendors and those for its RM10.3 billion multi-currency financing facilities.

At least 75% of these creditors have provided requisite approval-in-principle for its proposed debt restructuring scheme, back in December last year.

Shareholders of Sapura Energy include Permodalan Nasional Bhd via Amanah Saham Nasional Bhd (40.73%). Brothers Capital Sdn Bhd, linked to Tan Sri Shahril Shamsuddin and Datuk Shahriman Shamsuddin, owns a 9.18% indirect stake in the listed entity. Shahril also owns a 0.95% direct stake in Sapura Energy.

Posted by Ninth007 > 3 weeks ago | Report Abuse

Meterial announcement on any date before 10th June 2024 will still be considered ahead of financial plan deadline.
Jit Pai Hoseh Liao ….. ;) ;) ;)

Posted by Ninth007 > 3 weeks ago | Report Abuse

But every stake holder will know it wont be long so just enjoy while waiting for it !!!
Strongly feel it’ll exit from PN17 soon after the announcement

Posted by 5354_ > 3 weeks ago | Report Abuse

Suspend until 10th June 24?

Posted by Nikmon > 3 weeks ago | Report Abuse

Can someone call the CEO of SAP, his team forget to inform bursa lift the suspension...haha

Posted by Nikmon > 3 weeks ago | Report Abuse

Seem like suspend continued ...

Posted by 5354_ > 3 weeks ago | Report Abuse

Play contra so must settle? Why so kanchiong haha.

Posted by i7investors > 3 weeks ago | Report Abuse

4.0​ Suspension period and announcement timeframe
​ ​ ​
​4.1 ​If the Exchange grants a suspension for any of the reasons stated in paragraph 3.1, the period of suspension that may be approved by the Exchange is -
​ ​ ​
​ ​(a) up to 3 market days only where the reason for suspension falls within the ambit of paragraph 3.1(a);
​ ​ ​
​ ​(b) up to 1 market day only where the reason for suspension falls within the ambit of paragraph 3.1(b); and

Posted by hulwan > 3 weeks ago | Report Abuse

They have court this morning at 9 am. Just relax & wait

Posted by 5354_ > 3 weeks ago | Report Abuse

Eyes on Sapura Energy ahead of material announcement
By Adam Aziz / theedgemalaysia.com
22 Apr 2024, 01:01 pm
Updated - 01:36 pm

KUALA LUMPUR (April 22): Investors of Sapura Energy Bhd await the material announcement hinted at last Friday's noon break by the oil and gas (O&G) services company, which is in the midst of formulating a regularisation plan to address its Practice Note 17 status.

Shares in the company, which undertakes upstream operations and maintenance, offshore fabrication, and drilling services, have been voluntarily suspended from trading since 2.30pm last Friday afternoon.

The suspension points to potential sale of its 50%-owned upstream unit SapuraOMV Upstream Sdn Bhd.


The other 50% stake in SapuraOMV is in the process of being acquired by TotalEnergies from Austria’s OMV Aktiengesellschaft for US$903 million (RM4.32 billion). OMV sold the stake as part of its group strategy that shifted its focus away from Australasia.

OMV bought into SapuraOMV back in 2018 by subscribing to a 50% stake for US$540 million, plus repayment of US$350 million in intercompany debt.

It was reported that Sapura Energy was looking for US$1.2 billion for its stake in SapuraOMV.

SaspuraOMV operates the Sarawak gas fields of SK310 (with a 30% stake) and SK408 (40% stake). It also owns 40% of Block SB412 offshore Sabah, and 30% of Block 30 offshore Mexico, as well as other offshore exploration permits in Western Australia and the Taranaki Basin in New Zealand.

TotalEnergies’ transaction price for the 50% stake in SapuraOMV is bigger than Sapura Energy’s market capitalisation of RM826.92 million, based on its last traded share price of 4.5 sen prior to the suspension.

As at end-January, Sapura Energy had negative total equity of RM4.19 billion, against cash of RM1.45 billion and gross borrowings of RM10.98 billion.

The group is in the midst of coming up with a regularisation plan to address its balance sheet position. At the moment, it has been given until June 10 by the courts to restrain any legal action by creditors, including local vendors and those for its RM10.3 billion multi-currency financing facilities.

At least 75% of these creditors have provided requisite approval-in-principle for its proposed debt restructuring scheme, back in December last year.

Shareholders of Sapura Energy include Permodalan Nasional Bhd via Amanah Saham Nasional Bhd (40.73%). Brothers Capital Sdn Bhd, linked to Tan Sri Shahril Shamsuddin and Datuk Shahriman Shamsuddin, owns a 9.18% indirect stake in the listed entity. Shahril also owns a 0.95% direct stake in Sapura Energy.

Aside from SapuraOMV, Sapura Energy’s other assets include fabrication yards in Lumut, Perak (273 acres or 110.48 hectares), Labuan (88 acres), and Teluk Kalong, Terengganu (20 acres).

It has five derrick lay vessels, six pipelay vessels, one subsea construction vessel, two anchor handling tug supply vessels, and other offshore support vessels. Sapura Energy also has five semi-tender rigs and six tender assist rigs, its official website showed.

Shares in the company, which still has vast presence across the local upstream oil and gas ecosystem, touched six sen apiece in the third quarter of 2023, following a quarterly net profit of RM146.1 million for the first quarter ended April 30, 2023 (1QFY2024) that was its strongest since 2019.

However, the group remained in the red in FY2024 as all segments bled, with a full-year net loss of RM728.4 million on revenue of RM1.1 billion.

Chairman Datuk Mohammad Azlan Abdullah said in March that Sapura Energy is “not yet out of the woods” following the results, with the group citing lack of funding access as adding to the challenging operating conditions for both its engineering and construction division, and the operations and maintenance division.

The group, which initiated the latest round of its restructuring plan in 2022, had an order book of RM5.4 billion at end-October last year. As the wider domestic O&G industry continues to see a pickup in activities and prospects, the attention will also be on the progress of Sapura Energy’s turnaround.
https://theedgemalaysia.com/node/708793

Posted by hulwan > 3 weeks ago | Report Abuse

Don't need to go to court for OMV

Posted by Cockcroach > 3 weeks ago | Report Abuse

Later dia announce, besok huat loh

Posted by 5354_ > 3 weeks ago | Report Abuse

Today must announce? Bursa ruling I blur-blur haha.

Posted by Cockcroach > 3 weeks ago | Report Abuse

Ok dah announced

Posted by Sslee > 3 weeks ago | Report Abuse

Kuala Lumpur
22 April 2024
SAPURA ENERGY TO DIVEST STAKE IN SAPURAOMV TO TOTALENERGIES
Sapura Energy Berhad (“Sapura Energy” or “the Company”) today announced that its wholly owned subsidiary, Sapura Upstream Assets Sdn Bhd (“SUA”) has entered into a conditional Sale and Purchase Agreement (“SPA”) to divest its 50 percent equity interest in SapuraOMV Upstream Sdn Bhd (“SapuraOMV”) to TotalEnergies Holdings SAS (“TotalEnergies”).

SUA will receive from TotalEnergies a cash consideration of USD530.3 million (equivalent to approximately RM 2,534.5 million) for the transaction. Additionally, Sapura Energy will be relieved by TotalEnergies of a USD175 million obligation in respect of a financing
facility extended by OMV Exploration & Production GmbH (“OMV E&P”) to SapuraOMV, in connection with the share subscription and restructuring exercise amongst SEB, OMV E&P, SapuraOMV, and SUA on January 31, 2019.

Consequently, the total disposal consideration for the transaction, encompassing both the cash payment of USD530.3 million and the release of the USD175 million obligation, amounts to USD705.3 million (equivalent to approximately RM 3,370.8 million).

Posted by Cockcroach > 3 weeks ago | Report Abuse

Net assets from -0.18 reduced to -0.13

Posted by Sslee > 3 weeks ago | Report Abuse

Next step will be debt restructure, capital reduction, share consolidation 20 to 1 and capital injection of RM1.00 per new issue share.

Share equity will be positive and exit PN17.

Posted by smartepf > 3 weeks ago | Report Abuse

After sell revenue making asset still -ve net asset ?

Posted by smartepf > 3 weeks ago | Report Abuse

Sell on news!!!!!!

Posted by SapNrg > 3 weeks ago | Report Abuse

Order book why increase haters never tell? Order book become RM 6.6 billion unlike when QR announced left RM 5 billion haha.

With the E&P exit, Sapura Energy still has an order book of RM6.6 billion from its other segments, namely engineering and construction, drilling, and operations and maintenance, the company added.
https://theedgemalaysia.com/node/708872

Posted by SinGor > 3 weeks ago | Report Abuse

Bankers get back 2 Billion Cash But will have to take a 8 billion " hair-cut " by taking SeaDrill jack-up Rigs shares.
Next coming announcement ---No HairCut No PN17 exit

Posted by SinGor > 3 weeks ago | Report Abuse

20:1 and then RI ----just talk Cock. PNB and shareholders No Buy ( how to raise money? )
Bankers Hair-Cut is guarantee solid Deal

Posted by Noni > 3 weeks ago | Report Abuse

Tomorrow up 30% ?

Posted by SapNrg > 3 weeks ago | Report Abuse

Up 40%?

Posted by Ninth007 > 3 weeks ago | Report Abuse

Can touch 0.06 but to maintain might need to wait 20:1

Posted by Ninth007 > 3 weeks ago | Report Abuse

1.00, 1.20, 1.40, 2.00, 2.50, 3.00, 4.00 and beyond ……
Possible !!!

Posted by MAN10143 > 3 weeks ago | Report Abuse

Tomorrow fly 40%. Fasten your seatbelt. Skyrocket

Posted by MAN10143 > 3 weeks ago | Report Abuse

0.06 cents. No more cheap ticket.

Posted by Ytl2023 > 3 weeks ago | Report Abuse

Sell for so little. Debt still so high. They left almost nothing else to sell after this.

Posted by intansri > 3 weeks ago | Report Abuse

Reduced debts by $2.2b from $10b with another cash at hand $1.45b. If raise through right issue 1:1@0.40 then no more debts Am I right?

Posted by SapNrg > 3 weeks ago | Report Abuse

Shahril and PNB buy enough? The rest ikan bilis no need to buy can?

intansri

Reduced debts by $2.2b from $10b with another cash at hand $1.45b. If raise through right issue 1:1@0.40 then no more debts Am I right?

12 minutes ago

Posted by SapNrg > 3 weeks ago | Report Abuse

PNB must buy because Sap Nrg main creditor is Maybank, majority owned by PNB? Shahril must buy because IPO at RM 2 he earned a lot?

Posted by Ninth007 > 3 weeks ago | Report Abuse

Get ready Super Ring
See Phyton shouts at tree tomorrow onwards
Jit Pai Hoseh Liao

Posted by Mabel > 2 weeks ago | Report Abuse

Let see how high can it goes tomorrow..

Meow Meow Meow..

Posted by Alex Chew > 2 weeks ago | Report Abuse

Hi, Anyone know this kind of news normally will shoot up or down ya?

Posted by smartepf > 2 weeks ago | Report Abuse

No free lunch sorry! Everything has to pay back. For every share you own you still need to inject 0.13 sen in order to be out from PN17. I don't know any investor wants to inject money for Junk Asset left over!

Posted by smartepf > 2 weeks ago | Report Abuse

Order book is Order not profit! you have 100b order but profit 10m what is the use?

Posted by cheap1 > 2 weeks ago | Report Abuse

4.5 sen Sap why must complain a lot? If Sap so good why not traded >10 sen or even 80 sen logic?

Posted by Siang9282 > 2 weeks ago | Report Abuse

Gogogo

Posted by Sweetchocalates > 2 weeks ago | Report Abuse

Desperate move from sapura to get out of pn17. Sold its stake for less than what was agreed. Buyer knew sapura was desperate and took advantage of it. Even if sapnrg gets out of Pn17, it's gonna be a "dead" company after it sold 50% of its valuable asset at discounted price

Posted by cheahgood > 2 weeks ago | Report Abuse

Why so concern whether Sapura is selling their assets at discounted price or not, who cares. Mostly here are ikan bilis investor. The important here is whether tomorrow will fly high sky or go to hell

Posted by cheap1 > 2 weeks ago | Report Abuse

UlarSawa pls attend SAP EGM to complain.

Posted by cheap1 > 2 weeks ago | Report Abuse

If OMV so good why Sap Nrg still suffer loss latest QR haters can answer?

Posted by cheap1 > 2 weeks ago | Report Abuse

You are right. What we concern is share price.

cheahgood

Why so concern whether Sapura is selling their assets at discounted price or not, who cares. Mostly here are ikan bilis investor. The important here is whether tomorrow will fly high sky or go to hell

2 hours ago

Posted by intansri > 2 weeks ago | Report Abuse

Yesterday new IPO Keyfield with only 600m book order and around 10 ships compared to Sap 6b from previous quarter 5b by increasing extra 1b order book this quarter and around 10 big ships with already fully depreciated value also can fly up to $1.95!!!

Posted by intansri > 2 weeks ago | Report Abuse

The deal looked like fair price. Previous deals was US$903-$350=553, now is US$705.3-175=503.5 under desperate conditions to settle borrowings with keeping working capital around RM300m.
Now it turns out cash in the company is 1.45b+300m=1.75b equivalent to nearly $0.10 per share for the working capital

Posted by Mabel > 2 weeks ago | Report Abuse

Haha don't worry.. Your lady will love the French Riviera.. Trust me...

Louis Mabel..

Posted by thetruthstory > 2 weeks ago | Report Abuse

no need to rush and take profit yet, more news coming out very soon not just exit of pn17, but plan for growth etc