Sapura a PN17 company, rig utilization ratio is even higher than velesto....not bad.

Only left 5 rigs to sell, 11 rigs has long contact started next week. Can sell 2 to ICON

Sapura Drilling Asia Limited has been awarded new contracts from PTTEP for the provision of tender-assist drilling rigs Sapura T-10, T-11 and T-12.
The new contracts will commence in Q3 calendar year 2022.

Haha, is a loan with no interest, then creditor accept 40% instead of 70%, better than subsidy payout 77 billion.

Subsidy is worst compare to support SAP

Simple narrative, PKR will not support Bumi company like sapura,

If PM not follow, will impact his reputation, look at chicken subsidy, PM made big U turn after UMNO supreme meeting.

For Sapura they just waiting for right timing. Announcement before GE, execute after GE.

Good for SAP, not good for creditors.
Court granted restraining order until next year, soon creditors will accept a slightly lower haircut, this is the turning point.

10 million worth of share change hand during pre -closing in 5 minutes is almost equally 1 week traded amount...

10 million worth of share change hand at pre closing period...petronas?KWSP?MOF?.....maybe Anwar or najib

Extend another 6 months, equivalent death sentence to Sapura,

1. Sub contractor will not provide support since no payment from sapura for next 6 months.

2. How to get new funding for next 6 month to operate..how to get new project.

MOF is step in soon

Debt restructure seems like will fail, extend another 6 months for what, how to do funding within 6 months..more like abandon hair cut which UMNO strongly oppose....MOF step in soon. SAP not about operate without new fresh cash..

After leaks from MOF by the edge, MOF neither agree or disagree the report..haha seems like saving sapura is imminent.

The vote on the debt haircut is on next week, if Sapura debt restructuring success and gov aid....back to glory is just matter of time with such high gas price. Drilling rate is at record high, this year will be oil sector year.

It has been up more than 100% , I think it worth to goreng and worth to hold...haha

@singor for long term, aid from Gov is not enough, debt haircut with bank is essential. For long term lah.

Short term just goreng, nothing to do with business

LU tomorrow, another 50% -70% up tomorrow more likely

Sapura brother 16% PNB 40% probably only 30% share left for trade..

now new pointed SC chairman also from Gov......just goreng lah nothing can stop Sapura back to his glory......this will be narrative of UMNO for next election coming soon.

just follow them to goreng to this counter, so many chance to buy in at low price.....

Now gov and umno is openly goreng this counter with the name of saving rakyat, saving bumi company....lol....

Than MOH can ask Sharill to sell their 5% share to MOH with discounts price, so this will clear Sharill name. It is good for Sharill also, cause he still holding 11%, so can benefit from share price surge..MOH own 5%, can sell the share priceafter increase 1000%

new shares will not favour to PNB, dilution of share will cost PNB loss immediately, i don't think UMNO will agree on this, as Anwar will use this to attack UMNO the aid are cost PNB rakyat lose money

direct capital injection 5-6 billion with grant to clear the short term loan, they will just loan to Sapura with lower interest and longer tenure like 10 years. but they need to ensure the debt hair cut to be success, so they tied the bank loan and debt own to subcontractor, this will easy to meet the 70% agreement from creditor as Maybank, CIMB are hold bigger portion of the debt.

i believe the outstanding debt is 15 billion, inclusive outstanding amt to subcontractors...

4 billion injection not enough lah, not only need to handle the short term debt, Sapura also need 1-2 billion cash flow for current project and bidding for new project.

After success of Sapura, UMNO will use this to show how they Support Bumi company, this narrative will kill opposition.. although I don't agree...haha

Zagid not stupi, he know the plan and leverage sapura to show the support from him toward bumi corporate. So UMN will definitely ensure Sapura success.

Election near by, they will do everything to ensure Sapura success, UMN is the gov lah..

Is it confirmed that gov will aid sapura, but 15 billion debt haircuts also need to success, Finance Minister will need to ensure this. Else it will become issue for next election. So UMNO will ensure Sapura success,

Petronas direct aid is not making sense, so I guess with the 100 oil price, they can fasten the covid claim disbursement project and more project to Sapura directly

Getting Sarawak company involvement is to tackle local politic at Sarawak, if this fail Sapura can ensure that Sarawak subcontractor are not letting out.

Just a question, if petronas confirm take over Sapura, what would be the price ?

It is almost certain than SAPURA will get aid from Gov, now the the question is when and how.

Since this is confirm, price definitely will react tomorrow, maybe at least 50% up tomorrow, simply guess only, don't take it seriously

Any take over or bail out can only start after debt restructure...won't be so soon.
First must get approval from creditor...if can't bankruptcy is almost certain.

With 10 billion debt, no bail out can success.

i don't like 1mdb, but somehow he really good in gaining attention and 'buy' vote without using money.

if you are one of the contractor or sub-contractor of Sapura, you will found he really care about us and help us who impact by pandemic. Sapura has around 5k staff + 5k staff from vendor, and family member. this will help him to get more vote leh.

on other side, people who impact by Sapura will hate PKR who dump them and show no mercy to them.

haha, this why the ex-CEO who received 100 million per annum was kick out mah. and the previous regime has already move out one by one.

but the ex-CEO still holding 14% of share, so save SE he will still benefit even he is no longer in current management.

this will be the ugly true, for ex-CEO he will still enjoy his luxury life regardless SE situation. Gov not saving the SE, ex-CEO is still billionaire, Gov save SE, ex-CEO is still billionaire. not much impact.

the one who suffer are sub-contractor, worker if the Gov didn't bail out SE......

so is like are you willing to give a chance to AT and SE, or you think they deserve to bankruptcy.

if Gov as guarantor to loan money to Sapura so that it can recover and protect the oil asset fall in to foreigner cheaply and avoid mass retrenchment. yeah i guess this is a common strategy adopt by western as well cause the downfall of SE is partially caused by disaster pandemic. Gov didn't lose any money, Creditor can recover portion of the loan, no retrenchment and oil asset still remain under SE.

the problem i guess is now majority don't trust the SE will recover under AT leadership even with the support form gov. if you believe AT can rebuilt the company SE, i guess everyone will agree that Gov to grant loan for SE.

Sell the lumit yard to petronas, than focus on gas and windfarm, this will allow them to get cheap bond and attract more foreign investor.

Indeed, ular beloved king shahril is super famous in the industry globally...haha


"I really feel for Datuk Anuar. He inherited a horrible mess from his overpaid predecessor, the egotistical Tan Sri Shahril Shamsuddin, who headed the company from July 2004 until his spectacular fall from grace in 2021"

Haha, anyone can check back my comment easily, since Q322, Im already become pessimistic that it won't start recovery mode in 6 months at least...

This ular as a Sharill supporter....I believe most of the genuine investor well aware about the 100 million pay slip took by ex CEO who brought SE to Holland....

From the latest result, drilling seems like picking up, but E&C is the one lose the most and still struggling, just wonder would they sell off E&C or E&P.

If they manage to restructure the debt from vendor, next Q probably can break even....return to profit may another 2 Q I guess.

Some oversea company also facing same challenge like SAIPEM, in Malaysia OnG sector are worst as Petronas is bullying oil service sector. MHHB, Velestor all are still struggling not mention about some already PN17 like Bara , TH heavy.

Withe chaos created by previous regime, 100million pay slip, non profitable contract, over expand, covid impact. The new management still able make the company stay afloat...I believe it is not an easy job.

Gas price so high but E&P still making loss.....what is going on...E&P should be not control subsidiarie of Sapura....

Haha, the infamous SD's supporter in SE now...lol

Armada sell asset like crazy to pay debt, not sure why SE don't want to monetized some asset. Probably this is bank reluctant to move.

Every day announce new winding up petition....no one dare to touch this counter. Haha

Pearwhite shit lo.....haha

This almost certain delisted before suspension lifted...

PNB if want to privatized, need Sapura Brother approval who held 15% share may not agree on cheap sell.
If Sapura brother want to privatized, need PNB approval who held 40%,

Any third party like petronas want buy Sapura for the Oil/Gas asset, need PNB or sapura brother approval who held 60% collectively neither of them want to sell cheap.

Not easy to privatized I guess, so no worry. But the price will stay below until next year. Haha

Just different version of the story, SD Top management may plan to cash out slowly started with Warrant, than release news like moon investment or crypto investment for cash out slowly, but Bursar disrupt their plan.

In the first weeks after the suspension, SD launch attact Bursar and SC hope to lift the suspension. Until the bond defaulted and property procurement cancelled. The stock is beyond fixed.....so now they would prefer the suspension never lifted.

But what next to ensure recover their personal loss, so plan change release statement without approval by auditor, call AGM on eve of Chinese NY to ensure 3 million go in management pocket. Than follow by now JM appointment to avoid allocate asset or money to creditor, this proposal is not favor creditor.

Haha, simply guess only, treat it as bed time story.

What and how AT priorities resources, 100k also don't want to pay, are they plan to sell E&C ....can sell to MHB/Petronas, haha

Haha, you definitely right, she/he may be a old folk... But definitely is a shameless and stupoood one....lol

Huangbk72 Haha Superrr

This Kacang Putih is 100% not Karim.. Not even his shoe licker. Doesnt have the required intellect and analytical mind.

Some young kid, invested all savings in SD, now trying to console himself all is fine and dandy.
18/02/2022 11:05 AM

If AT manage to turn around by end of this year, he will become legend.

Aiya, the failure of this company is obvious

1. For the past few years, the CEO only draw around 100 million yearly, use private jet and other benefits, and don't don't forget 10 million yearly pay to Sapura group for using the name 'Sapura', there may have other leakage through crony..

2. On top of those problem done by previous management, covid cost has exacerbated the situation, operator don't want pay the claim, subcontractor also don't want to pay the covid additional cost. Project delay caused by closed down and additional cost from supply chain issue.

Without the first issue faced by Sapura, MHB, SAIPEM and other still struggling to turn around as at today

Not that I think the company may turn around, but the new management lead by AT have done a good job to keep the company afloat and contain the issue within Malaysia. Last Q still manage to win a billion jobs under circumstances.

Not easy lah, AT has done super super good job leh.

Haha, barakah PN17 long time de....KNM also PN17, Scomi also PN17....SD also PN17....

SE still early but expect the price remain until next year la.