Khazanah buy more Uem S and if goes up Khazanah make the most money.

Debat Perdana(about Sapura Energy Berhad) between DSAI and Najib Razak also no result yet.

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

How about today market? Why CI up 10 points and more counters up than down?

Play contra so must settle? Why so kanchiong haha.

RM 100 million if buy UemS RM 1.5-RM 2 possible?

Bursa listed counters why Khazanah no invest? UemS should buy more for example.

Suspend until 10th June 24?

Dayang related to dead Taib Mahmud? Not living person like TPM Fadillah Yusof more important hence Penergy share(his brother counter)?

GPS pull out meaning Unity Govn collapse so who must take care Penergy(TPM Fadillah Yusof brother counter) share?

Excess cash already have for many years why only given this year?

2 sen dividend not because coming Q1 24 QR good?

Fear Unity Govn collapse? Today FF buy back because GE16 still long to go?

Dayang break new high when is Penergy turn?

PNB interest ignored by PH govn then people also ignore PH in GE16. Just like Felda Settlers owning stock in FGV which drop from 2012 IPO at RM 4.55 so BN lost in GE14 & GE15.

PNB own >40% Sap Nrg?

Petronas listing through RTO Sap Nrg?

I have voted PH in GE14 & GE15 because of Sap Nrg sharp share drop during BN reign. Don't tell me PH does nothing so that I continue vote them next GE16.

Cannot be Rafizi only suspended so long.

Why still suspended?

You are not welcome here. Sap must have bank hair cut.

Posted by thetruthstory > 27 minutes ago | Report Abuse

wow, you owned BIMB, like to be your friend

So bank haircut(not only Sap Nrg but also other debt-laden companies) not good for you?

Mabel

#5354_ Bank stocks owner please sell your bank stocks if you want banks haircut is my advise. Previously I owned BIMB but have sold recently.
20/04/2024 10:32 AM

Haha Mabel still keeping Maybank, CIMB and BIMB. All very Good Dividend Machine..

BIMB Full year 2023 earnings: EPS and revenues exceed analyst expectations

Full year 2023 results:
EPS: RM0.25 (up from RM0.23 in FY 2022).
Revenue: RM2.28b (up 5.6% from FY 2022).
Net income: RM553.1m (up 13% from FY 2022).
Profit margin: 24% (up from 23% in FY 2022). The increase in margin was driven by higher revenue.
Cost-to-income ratio: 60.9% (up from 59.8% in FY 2022).
Non-performing loans: 0.94% (down from 1.27% in FY 2022).
Revenue exceeded analyst estimates by 5.2%. Earnings per share (EPS) also surpassed analyst estimates by 5.2%.

Revenue is forecast to grow 6.9% p.a. on average during the next 3 years, compared to a 7.1% growth forecast for the Banks industry in Malaysia.

Meow

1 hour ago

Why Petronas must buy SapNrg not other O&G companies?

Posted by Raja138 > 34 minutes ago | Report Abuse

PETRONAS!!!

Bank stocks owner please sell your bank stocks if you want banks haircut is my advise. Previously I owned BIMB but have sold recently.

If true bye-bye PM-X and PH in GE16.

Posted by MalaysiaMadani > 4 minutes ago | Report Abuse

Condolidation 20:1

https://www.nst.com.my/news/crime-courts/2024/04/1040167/sime-darby-property-ordered-pay-rm48-million-six-bungalow-owners

Suspend to prevent bad market or really got good news?

Still in Raya mood? Shahril Shamsuddin got ask PM-X join his open house?

https://ms.wikipedia.org/wiki/Debat_Perdana

PM-X talked about Najib today. Is it related to Debat Perdana DSAI-Najib? How many years passed why no result?

6.30 pm still no news, must wait 7.30 pm?

Suspend until 5 pm?

Why hoseh? White knight found? Debt hair cut? Win contract?

Ninth007

JIT PAI HOSEH LIAO :)

14 minutes ago

https://www.klsescreener.com/v2/announcements/view/6863699

Cheaper than Dayang, Hibiscus and Hengyuan.

Penergy ada Energy.

Brent USD 100 possible because of Iran-Israel war?

War between Iran-Israel why Sap Nrg still 4.5 sen?

War between Iran Israel can CPO shoot up like Russia-Ukraine war?

NIISE no more sure get?

Forest City(even Agong mentioned) China people staying not locals? How can HSR suitable there?

HSR(Govn must approve) cannot be in Forest City because govn own Uem S.

Not fund by private sector under Unity Govn?

Fate of Penang Undersea Tunnel project depends on steering committee recommendations
https://www.thestar.com.my/news/nation/2024/04/18/fate-of-penang-undersea-tunnel-project-depends-on-steering-committee-recommendations

PM-X in JB but no mention HSR at all why ah?

Ron95 no more RM 2.05? Up min 10%? Siapa undi PH hari ini menang minyak turun?

10.5 sen is PP price use to buy plantation company will it be the bottom price? Hopefully no more drop. Last QR I remember plantation show profit so Q1 24 profit will be higher with CPO >RM 4K/tonne?

Neoh Soon Kean(Stock Performance Guide author) still in top 30 shareholders? By end April when 2023 Annual Report release should know.

Bursa performance PM-X why don't talk?

11 sen so big buy q suddenly gone today will 10.5 sen so big q come next? Feel like cheated.