SAPNRG (5218): News and Blogs

Standstill until end of May, if announce on 30-jun, then need to request extension again.....3 parties, bursa, BNM and court

1 week ago

Let's hope for the best...

Meanwhile, all eyes is on Capital A and AAX with active trading today as Capital A Bhd's proposal to streamline its aviation segments, as it will help it compete better with established full-service carriers. Investors viewed the exercise positively as it strengthens AAG's business model for long haul–short haul integration, with a new medium haul segment as the intermediary, by leveraging onto the new A321 fleets.

Post restructuring, Capital A will still retain ownership of the four major business segments namely, ADE maintenance repair, overhaul services; Teleport logistic; AirAsia MOVE SuperApp; and digital finance BigPay and will also still own 18.39% stake in AAG. The gems are with Capital A, now lean and mean without too much flying the aircrafts and exposure of instable aircraft fuel.

Both Airlines climbs more than 5% and 13% respectively.

Live is so beautiful when you are flying with a True Magician...

YTL Power and Yinson also did great climbing more than 7% and 3 % after consolidating sideways for 3 months. Unfortunately Lady Sap remain unchanged.

No Issues Mabel can wait as this counter is still positive as far as P&L is concern..

Meow

1 week ago

dompeilee

I'd rather be in Armada & Velesto(which I am) rather than in this...Mahadi(who is already 99% proven corrupted)'s son involved since its beginning days as Kencana Petroleum in '06 & the no-good SharEVIL is 100% proven incompetent, siphoning billion$ of co's as well as PNB & ASB's (read depositors') monie$ in the form of ridiculously inflated remuneration. You know the saying abt a leopard & its spots.

I don't mind dripping in $ into a down stock in the belief in a future jackpot to come(witness my odyssey in Huaan, Oriental, Naim & even Japan's recently MBO-ed & delisted Teraoka Seisakusho, a huge disappointment for the first 4 years then suddenly the 2nd biggest Japanese earner to date) BUT this junk, little better than Sumatec, has less than 3% hope of recovering back to even the double digit sen range, so any purchases hereon in are merely donations. Its 18.4 BILLION issued tickets is a RECORD HIGH burden in stock exchange history & is probably tops in almost all world markets & worse, is set to⬆ as the overwhelming debt stubbornly remains with its crown jewel already gone on the cheap. Ergo, a 30-tonne elephant is more likely to skate gracefully on a lake than this one go back up to 10c & beyond.

1 week ago

Would bursar approve the extension? The last extension took 2 months for Bursa approved, SAP submitted extension request a month before it due...

1 week ago

So another round of extension,...so next year only will turn around..

1 week ago

Next year ...can put it aside lo like this, , next year may delay again...no money no project, the losing money ONGC also completed, mean 0% fabrication yard at lumut....

1 week ago

It is not true from business operation about this counter. The book order received from last quarter of 5b increased to latest announcement of 6.6b. A very impressive number. Some more the cash flow position is also equivalent to nearly $0.09 per share. So they are doing good business project and now they only need to swap the debts through regulatory channels to clean balance sheet figure as like AAX and Capital A debt swap. It takes time but any invested investors can’t wait must invest somewhere n not here

1 week ago

Now NTA is -$0.13 instead of $-0.23. So if you can raise right issue of $0.13 per share then this counter should expect to get out of PN17 status without white knights needed

1 week ago

-0.13 after selling OMV

1 week ago

#intansri It is not true from business operation about this counter. The book order received from last quarter of 5b increased to latest announcement of 6.6b. A very impressive number. Some more the cash flow position is also equivalent to nearly $0.09 per share. So they are doing good business project and now they only need to swap the debts through regulatory channels to clean balance sheet figure as like AAX and Capital A debt swap. It takes time but any invested investors can’t wait must invest somewhere n not here
28/04/2024 6:06 AM

intansri Now NTA is -$0.13 instead of $-0.23. So if you can raise right issue of $0.13 per share then this counter should expect to get out of PN17 status without white knights needed
28/04/2024 6:11 AM

intansri -0.13 after selling OMV
28/04/2024 6:12 AM

Thanks for your insights intansri...

Let’s delve into the insights following Sapura Energy’s sale of its OMV business to TotalEnergies:

Let’s delve into the insights following Sapura Energy’s sale of its OMV business to TotalEnergies:

Sale of OMV Stake: Sapura Energy Berhad announced the divestment of its 50% equity interest in SapuraOMV Upstream Sdn Bhd to TotalEnergies Holdings SAS. The transaction involves a cash consideration of USD 530.3 million (approximately RM 2,534.5 million). Additionally, TotalEnergies will relieve Sapura Energy of a USD 175 million obligation related to a financing facility extended by OMV Exploration & Production GmbH to SapuraOMV. The total disposal consideration, including both cash payment and the release of the obligation, amounts to USD 705.3 million (approximately RM 3,370.8 million). The acquisition is subject to regulatory approvals and customary closing adjustments, expected no later than the second half of 2025.

Order Book Growth: Sapura Energy’s order book has increased from RM 5 billion to RM 6.6 billion. This impressive growth reflects strong demand for their services and projects.

Cash Flow Position: The company’s cash flow position is equivalent to nearly $0.09 per share. Cash flow per share is a robust measure of financial strength, as it considers after-tax earnings and depreciation on a per-share basis. Unlike earnings per share, which can be manipulated, cash flow per share provides a more accurate assessment of a company’s financial health.

Debt Swap and Balance Sheet Cleanup: The company aims to clean up its balance sheet by swapping debts through regulatory channels. Like the strategies employed by AAX and Capital A, this process takes time but is essential for long-term sustainability. If executed successfully, it could help Sapura Energy exit PN17 status without relying on external white knights.

These developments indicate Sapura Energy’s commitment to recovery and long-term viability..

Our next question what is the estimate timeline to get PN17?

To Our Success

Meow

1 week ago

Other possibilities as stated by SinGor...

1 week ago

Recap:

In 2018 under Sharil, Sapura Energy’s cash call involved a RM3 billion rights issue of 9.987 billion shares priced at 30 sen each on a 5-for-3 basis, with 1 free warrant for every 10 rights shares subscribed. Another RM1 billion was raised through the issue of 2.397 billion Islamic redeemable convertible preference shares (RCPS-i), offered based on two RCPS-i for every five shares owned, priced at 41 sen each. The RCPS-i are convertible into ordinary shares on a 1-for-1 basis upon maturity on Jan 29, 2024. This means each RCPS will indeed be automatically converted into one ordinary share of Sapura only upon reaching maturity on 23rd January 2024 meaning more shares will be listed on 23rd Jan 2024 by PNB.

Based on the above Mabel takeaway is simple..

PNB’s stake in Sapura Energy, held under its various funds, was only 12.16% before the rights issue. It also fully subscribed for the latter’s Islamic redeemable convertible preference shares (RCPS-i), which were part of a RM4 billion cash call — RM3 billion from a five-for-three renounceable rights issue at 30 sen per share, and RM1 billion via a two-for-five renounceable rights issue of new RCPS-i at 41 sen each.

In simple term that's PNB cost without considering of the 12.16% before the right issues (which is at a higher price) is between 30 to 41 sen per share.

To Our Success!

Meow

1 week ago

Summing up: Haha the reason why Mabel put her money in PN17 Sapura Energy and Capital A is because she wants to be part of their turnaround journey.

Mabel see more possibilities and similarities between these two PN17 Companies. So Mabel is counting on our Smart Accountant Magician to pull this together as it can have a spin-off effect...Here lies the differences:

One can start from Zero to be a Hero.
Satu lagi kena jual ini jual itu sampai Zero.

Let's see how these two CEO (Sapnrg and CapitalA) managed their turnaround. So far both of these PN17 Companies have been profitable and not a liability for Mabel to hold.

To Our Success!

Captain Mabel Meow

1 week ago

Haha SinGor you are some time very funny...

Totally in line with what you said..

1 week ago

Local project started flow in since 3-4 years ago?

1 week ago

masterkevin212

Look like petronas will pump more project for sapura

1 week ago

limch

Sapura Resources Berhad RI not Sapura Energy Berhad. Why naysayers a lot here?

1 week ago

limch

Only thing why not propose merging Sapura Resources Berhad and Sap Energy Berhad just like AAX and Capital A? Is it different business?

1 week ago

masterkevin212

No need consolidation. No point, since PNB holding the most. Forcing petronas to allocate more job for sapura will do. Sapura can do better comparing to others.

1 week ago

SapNrg

Sapura Energy bags underwater service contract from Thai-owned PTTEP group
https://theedgemalaysia.com/node/709785

1 week ago

Selling SAPOMV asset sour in the society, PMX may change his mind to support SAP instead let white night take over..

1 week ago

https://missnidhi.co.in/delhi-call-girls.html

With cash strapped p17 status, no big project can awarded, only leasing job..haha

1 week ago

missnidhi

6 days ago

4 weeks left.......

5 days ago

The latest CFO is specialist for corporate finance restructuring

5 days ago

The westport share price up to the moon when he become CFO

5 days ago

McDermott compl

Installation of the topsides has cleared the decks for the start-up of gas production from ONGC’s Cluster 2 development, which has been delayed by several years owing to the Covid-19 pandemic and financial woes faced by Sapura Energy.

Long delay losing project completed!!!

3 days ago

Baby Shark

Wahhh.. banyak kena tang sini

1 day ago

Alex™

not bad, this sapulah energy counter still alive

1 day ago

Baby Shark

Apa project pun talak.. gaji direktor tinggi

1 day ago

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3445616
__________________________________

At 1.8Billion = RM 8.55 Billion Contract ( SAP 50% --shares 4.27 Bil )---I wonder how SAP is going to raise
4.27Billion----Somehow i think "another shareholder" might Take over SAP Bcos i know there a few more
projects SAP has Bid ( might also secured )

18 hours ago

masterkevin212

SAPURA Energy Berhad 宣布，其合资实体与 Paratus Energy Services Ltd 合作，已获得 Petroleo Brasileiro Sa (Petrobras) 的合同，为价值 18 亿美元的六艘铺管支持船 (PLSV) 提供服务和租赁。

这些合同为期三年，涉及巴西水域的海底工程、安装和其他服务。

Sapura Energy 的子公司 Sapura Offshore Sdn Bhd 持有这些合资公司 50% 的股权。

18 hours ago

koyokui

Buy buy got joint venture

18 hours ago

I think most of SAP "Legacy projects" ( not profitable ) Either had project Cost revised or Cancelled Due to
Covid---Covid was 3 years Long and most legacy projects have 3 years Execution period ( if no start work it
will be cancelled or renegotiated ) Covid has actually "Help" SAP New management

17 hours ago

https://www.offshore-technology.com/news/bangladesh-bidders-exploration/
_______________________________

Once Gas or Oil is discovered, you need a platform to extract it----24 Blocks has many potentials ( many Hits and
platforms required )----Nearest platform Builder ( Lumut Malaysia---SAP )

17 hours ago

TalkNumberOne

Where are those 2 stooges commented 9hours back. Hahahaha kena slap immediately not just them kena slap. 😂😂😂😂😂

16 hours ago

limch

Sapura Energy JVs win US1.8b contracts for subsea engineering and related services in Brazil
https://theedgemalaysia.com/node/710658

16 hours ago

CDRC, Bursa, and Court approve the extension until early of Jun only, 3 weeks left.

15 hours ago

thetruthstory

so many announcement about projects recently secured, this info is a precursor to the regularisation plan and lifting of PN17 status

15 hours ago

Baby Shark

Semua projects kecik mayong, want cover costs office boy/road tax kereta pun susah..

3 hours ago

thetruthstory

yeah mr sharksfin, its only usd1.8b

2 hours ago

Normally if you got award this kind of project, company will receive 30% down payment to carry the project. Under this scenario, 5218 will get around 2.5b+OMV2.5b+cash 1.4b=6.4b on its cash flow account to rollover operation. Very bright future

1 hour ago

$900mil Brazil project should net about RM500m--RM800mil based on 12%--18% net profit ( normal )

1 hour ago

I think latest Price Water House Director as CFO comes at a right time---more bid projects should be realised
bcos SAP has been submitting Oversea Bid for the last 2 years and it is now management is announcing
awards

1 hour ago

Whatever good news announced is useless and overshadowed by 9 billion debt.

1 hour ago

Price won't buzz until restructure plan announce

1 hour ago