This what I posted in Serbak in June 2021. I predicted Serbak`s future, most of the items are correct.

Only you auntie Huang thick face claim your credit. Mike posted more than you also diam diam.

Posted by Bon888 > 2021-06-27 00:33 | Report Abuse

Updated morivae`s story line

1st shot - KPMG red-flagged

2nd shot - half bake answer to KPMG(auditors would not go to ur INED or SC if you management had answer all the questions professionally)

3rd shot - Appointment of independent auditor (This is great move IF KPMG really did wrong, and new independent would solve the problems, atless the share price would remain sideway until the results came out)

4th shot - Legal Suit!!!! (WORST move EVER!!!!)

5th shot - INED resigns

6th shot - EPF resigns

7th shot - New substantial shareholder bought 5.01% shares at new low price, more newbies collected discounted shares at all time low hoping the white knight able to turnaround the situation.

8th shot - Unable to submit audited annual report by due date.

9th shot - ALL resigns

Last shot - Bye Bye SD, most of the newbies bought at the bottom left KLSE and never come back.

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Including UlarSawa and his con siffut.

Posted by ybss99 > 2 minutes ago | Report Abuse

The NETX....CONMAN C RECOMMENDED FOR MANY YEARS..

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I put RM 112K bought at 0.0375, 3 million shares.

Let's say probability of delisting 40%, Survived 60%.

If dropped to 0.02, I cut lost at 0.02
Lost = 0.0175*3000000 =52.5k

If gone up to 0.07, I cut win at 0.07.
Gain = 0.0325 * 3000000 = 97.5k

The statistical expected value =
40%*(-52.5k) +60% (97.5k)
= 37.50k

So the winning odds is worth for a bet.

Machines depreciation useful life maybe just 5 years. How about factory building?

Kossan Q2 report

"Recognising these challenges, the Group had embarked on a capacity rationalisation exercise in FY2022 to be more efficient and lower operating costs where we decommissioned two older plants (14 years and 19 years respectively) with a total capacity of 3 billion pieces"

But I can't find any impairment cost for this. Anyone could explain this?

I have been telling all, I'm speculating on survival of Sapura Energy. Survived I made money, delisted I cut lost before delisting. As simple as this. The winning odds is high because the PNB is behind, Government is behind and PMX`s rakyat is watching.


I don't care in future Sapura Energy making profit or not. Most likely No.

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Who started flagging this morning ?

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Thank you Sslee for sharing the good news.

Good news #1

The share price before consolidation is minimum worth0.05, not 0.035. The negotiation with Bankers is going on it is logical to valuate the settlement using the latest share price.
Good news #2:

Bankers / MCF creditors will be onboarded the same boat like the existing shareholders. Bankers / MCF creditors would not like to see the share price drop below RM 1.00. Of cause they will ask their IB write some good IB reports for Sapura Energy.



Posted by Sslee > 1 hour ago | Report Abuse
The proposed share consolidation would see, among others, 20 Sapura Energy shares converted into one. The company will then issue 500 million shares at RM1 each to its MCF creditors as part settlement of the amount owed.

If you read above it mean after share consolidation of 20 to 1 and issue 500 million shares at RM1 each to its MCF creditors as part settlement of the amount owed.

So the proposed scheme value the current share price is 5 sen.

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This RM5.73b should be entire stake of SapuraOMV. Sapura Energy own 50% of SapuraOMV

So statement formula:
Payoff 4.75b immediate due debts:

White Knight 1.8b
Sapura OMV disposal 2.865b
Total 4.665b

Another RM 0.085B or RM 85 million only coming from internal generated fund, Sap Sap water lah!!


Mubadala, Inpex among suitors for SapuraOMV in RM5.73b deal, say sources.
https://theedgemalaysia.com/node/686999

Ladies and gentlemen!!!

Sapura Energy today RM 0.055 up 22.22%. This 22.22% was carefully planned by sharks since yesterday purposely push the price to RM 0.045.
Today they presented to you this nice 22.22% gain!!

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Disposal of Sapura OMV alone with value RM 5.73B sekali gus settle the problem.

Sapura Energy will be out of PN17 soon !!!!

Earlier settlement formula stated below Sapura OMV disposal 2.3b but now if
Sapura OMV latest bid with RM5.73b look like white knight cash injection also not required anymore!!
The settlement formula is very simple:

Payoff 4.75b immediate due debts:

White Knight 1.8b
Sapura OMV disposal 2.3b
Total 4.1b

Another 0.65B or 650million from earnings and internal generated fund.

Fuyoh 0.05 sell Q all kena sapu habis after this news out:

https://theedgemalaysia.com/node/686999

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Great Summary from Meow:





Summing up...

Price of Sapura will stay YoYo until the restructuring plan is approved.

If restructuring plan not approved..

- PNB and Maybank lose money
- Sapura staff lose job
- Government can no longer get corporate tax from Sapura
- Government can no longer get Sapura employee income tax.
- Vendors lost business opportunities/projects from Sapura.
- Banks may not recovery borrow money
- White Knight not cumming..

Conclusion - Too Big to fail. Nirvana is not too far away.

Meow

Positive energy from Captain Meow:


Sapura Energy Second quarter 2023 earnings released:

• EPS: RM0.003 (up from RM0 in 2Q 2023).
• Revenue: RM1.14b (down 2.5% from 2Q 2023).
• Net income: RM42.8m (up RM45.4m from 2Q 2023).
• Profit margin: 3.7% (up from net loss in 2Q 2023).

Revenue is forecast to grow 2.0% p.a. on average during the next 3 years, compared to a 2.6% decline forecast for the Energy Services industry in Malaysia.

Great Delivery Lady Sapura. Good News from MY Lady Sister…

1. Sapura Energy Bhd, second consecutive profitable quarter 2023
2. She has secured a US$300 million (RM1.4 billion) contract from Azule Energy Angola BV for a gas complex in Angola — the Angola Northern Gas Complex (NGC) project.
3. Oil price spike up Like mad…Brent $96.55 +2.59 +2.76 % and heading towards USD 150...

Life is so beautiful...

Like this Mabel will continue to Goyang Kaki. Once PN17 is History, it will be an orgasm you will never forget..

This week, LTAT and Madani G came to the rescue Bplant. In Malaysia anything is possible.

To Our Success!

Captain Mabel Meow

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Any updates from PMX middle East

Positive energy from Captain Meow:


Sapura Energy Second quarter 2023 earnings released:

• EPS: RM0.003 (up from RM0 in 2Q 2023).
• Revenue: RM1.14b (down 2.5% from 2Q 2023).
• Net income: RM42.8m (up RM45.4m from 2Q 2023).
• Profit margin: 3.7% (up from net loss in 2Q 2023).

Revenue is forecast to grow 2.0% p.a. on average during the next 3 years, compared to a 2.6% decline forecast for the Energy Services industry in Malaysia.

Great Delivery Lady Sapura. Good News from MY Lady Sister…

1. Sapura Energy Bhd, second consecutive profitable quarter 2023
2. She has secured a US$300 million (RM1.4 billion) contract from Azule Energy Angola BV for a gas complex in Angola — the Angola Northern Gas Complex (NGC) project.
3. Oil price spike up Like mad…Brent $96.55 +2.59 +2.76 % and heading towards USD 150...

Life is so beautiful...

Like this Mabel will continue to Goyang Kaki. Once PN17 is History, it will be an orgasm you will never forget..

This week, LTAT and Madani G came to the rescue Bplant. In Malaysia anything is possible.

To Our Success!

Captain Mabel Meow