As announced on 21 December 2022, Bursa Securities had granted the Company an extension of time of six (6) months until 7 July 2023 for the Company to submit its regularisation plan to the relevant regulatory authorities. Therefore, the Company has approximately one (1) month to submit its regularisation plan to the relevant regulatory authorities for approval to implement the same.

I am eagerly awaiting for STony what can he pull out from his magic hat come 7 July 2023.

Will be very sad/disappoitment if what STony can come up is another application for 6 months extension.

Dear dompeilee,

Please do me a favor to minitor what are the answers given to my send in advance questioons for the AGM. I would not be attending the AGM as I need to standby at my worksite for next week for plant operating system audit by external auditors.

Please also convey my well wishes and hello to:
MR. MANOJ DEVADASAN
General Counsel / Company Secretary / Manager-Human Resources/Compliance Officer

https://klse.i3investor.com/blogs/Sslee_blog/2023-05-27-story-h-269629315-Petronm_s_64th_AGM_questions.jsp

Ular,
Cuma ada satu question?
Kalau yang kalah, tukar ID dan terus ke Janda Sapura kaki kong kaki song macam mana?

Ladies and Jantanman the Janda Sapura finally ada satu competition between the Promoter Bon888 and Penkritik Bobby. They have decided to accept the term and condition to compete for the next 9 mths. Whoever win one can stay back and the loser has to get lost from Janda Sapura forum. You both cannot change the term until the 9 mths ended and Referee will announce the result 9 mths from today 8/6/2023.

Posted by UlarSawa > Jun 9, 2023 11:08 PM | Report Abuse
Stock: [SAPNRG]: SAPURA ENERGY BERHAD
Contract Amendment 9/6/2023
Bon888 requested to change the ID to Felix888. Referee Approved and Signed.

BobAxelrod
Referee, why allow sissy Pon pon to change his ID in an on-going contest? Why referee not disqualify him??? Can explain?? Haiyoh, correct?

I like leno arguement, that is why I fully subscribed my RI entitlement with 10% excess aplication.
So hopefully year 2026 another Insas RI

So no cash, cannot borrow money from bank then how to pay for the addition 10% in JHDP?
Another PP or RI? Or be paid by share?

So at the end I sold all the Insas-WC and Insas-PB to buy more Insas but Leno sold all Insas and Insas-PB to all in Insas-WC.

Leno answer RI to reward shareholders.

My answer RI for Dato' Sri Thong and PAC to hold warrants as defensive tool yo prevent hostile take over.

Note: Dato' Sri Thong and PAC hold 32.96% and any buying of Insas share will trigger the 33% threehold of MGO

The same question why RI when Insas is cash rich?

Saya sokong Bobby.

A 19 million barrel at gross margin at 9.50 with 1 million barrel at gross margin 36.10. The weighted average is 10.83.

The range 9.50 to 36.10 is meaningless without weighted average.

Page: 134 (2022 AR)
Refining margin swap contracts (continued)
The effects of the refining margin swap contracts on the Company’s financial position and performance are as follows:
2022: 2021
Carrying amount liability, net (RM’000): (830,596): (179,886)
Notional value (USD’000): 180,413: 265,421
Maturity date January 2023 to September 2024: January 2022 to September 2024
Hedge ratio (%): 100: 100
Change in fair value of designated hedging instruments (RM’000): (829,075): (97,395)
Change in value of hedged item used to determine hedge effectiveness (RM’000): 829,075: 97,395
Gross margin per barrel (USD): 9.50 to 36.10: 8.00 to 12.30

Question 19: Are the refining margin swap contracts how many % are based on Singapore Mogas 92 Unleaded (Platts) Vs Brent and on Singapore Gasoil (Platts) Vs Brent?

Question 20: Notional value: USD 180,413,000. Gross margin per barrel (USD) range 9.50 to 36.10: What is the total volume (barrel) and volume weighted average gross margin per barrel?

Question 21: Of the total volume, how many (barrel) and volume weighted average gross margin per barrel refining margin swap contracts mature in quarter 1, quarter 2, quarter 3 and quarter 4 2023?

Response from HRC:

Reference to questions 19, 20 & 21: We are unable to disclose this information due to commercial sensitivity in order to protect our market competitiveness.

Is Q1 ended 31/3-2023 a strong quarter?
What can the next three strong quarter do to the NAPS ?

Q1 ended 31/3/2023
Revenue: RM 2,529,713,000
NP: RM 26,013,000
NP to SH: RM 57,095,000
EPS: 1.40 cents
NAPS: RM - 1.33

I3lurker is trying to be sarcastic.
The rat is trying to get attention by hanging his broken record fitnah banner repeatly every where he go.
Bob trying to be smart
And I trying to be activist investor.

Just ask the Board If can pay dividend then why PP?

In 1998 the interest rate was increased to defend the depreciation of RM against USD.

Soro even tell Dr.M see you at 5.0. Later Dr.M on 1 Septembeer 1998 introduced strong capital/currency control and fix the ringgit exchange rate at RM3. 8 to the US dollar, compared to the pre-crisis rate of around RM2.5.

For those companies with debts, the only problem is increase in interest payment will eat into their profit. Some may not survive like what happen during the Asean financial crisis in year 1998 when interest rate go thro' the roof.

During that period, I still remember my bank send me letter every month that interest rate has increase till my monthly house loan installment payment sum cannot cover the interest payment.

By the way YTL group had survived and even prosper during the many past financial crisis.

U.S. had intelligence of detailed Ukrainian plan to attack Nord Stream pipeline
THE DISCORD LEAKS | The CIA learned last June, via a European spy agency, that a six-person team of Ukrainian special operations forces intended to sabotage the Russia-to-Germany natural gas project
By Shane Harris and Souad Mekhennet
June 6, 2023 at 10:52 a.m. EDT

Three months before saboteurs bombed the Nord Stream natural gas pipeline, the Biden administration learned from a close ally that the Ukrainian military had planned a covert attack on the undersea network, using a small team of divers who reported directly to the commander in chief of the Ukrainian armed forces.

Details about the plan, which have not been previously reported, were collected by a European intelligence service and shared with the CIA in June 2022. They provide some of the most specific evidence to date linking the government of Ukraine to the eventual attack in the Baltic Sea, which U.S. and Western officials have called a brazen and dangerous act of sabotage on Europe’s energy infrastructure.

The European intelligence report was shared on the chat platform Discord, allegedly by Air National Guard member Jack Teixeira. The Washington Post obtained a copy from one of Teixeira’s online friends.

A light reading.

*Professor Dennis Etler*
*American political analyst who holds a doctorate in anthropology from the University of California, Berkeley*

*As I See It:*

*Why is it that the West is so preoccupied with China? The usual answer is that China's economic growth is challenging Western global hegemony which has held sway for at least 250 years. The Chinese military has also reached parity with that of the West, so it is no longer subject to Western intimidation and bullying. All that is true and reason for the West to want to savage China and portray it as the root of all evil.*

*But there is one other consideration that must be taken into account. It's not only China's economic prowess and military might that frightens the West, it is also China's success as a nation versus the West's failure.*

*Moreover, China has forged a society in which there is harmony between its different ethnicities in contrast to the systemic racism that characterizes Western society.*

*Western ruling elites and their media mouthpieces do not want to acknowledge the fact that China has eliminated extreme poverty while more and more of their own people descend into poverty. They do not want to admit that China has constructed a 21st century infrastructure while they lag far behind. They do not want to confront the fact that the Chinese people ⁹overwhelmingly support their government while people in the West have lost confidence in their own, they do not want to accept that China beat COVIDC-19 while they haven't, and finally they are loathe to accept the fact that a non-white nation has out performed them and will continue to do so into the foreseeable future.*

*In order to deflect attention away from these truths the West has concocted a series of lies and slanders that allow them to deny reality. Instead of poverty alleviation the West imagines "genocide." Instead of the advances in HSR, EVs, alt-energy and e-commerce they focus on "IP theft," instead of a socioeconomic system that serves the people, they accuse China of forced labor and forced sterilizations. Instead of seeing China as defending its national sovereignty in the South China Sea, Hong Kong and Taiwan, it's called an aggressor.*

*All the China-bashing serves multiple purposes but ONE of the main reasons is to make sure that people in the West do not get to hear nor see what the real China is all about because if they did they may get ideas that the Western elites don't want then to have, such as socialism works for the betterment of the 99% while capitalism works primarily to enrich the 1%.*

A light reading.

*Professor Dennis Etler*
*American political analyst who holds a doctorate in anthropology from the University of California, Berkeley*

*As I See It:*

*Why is it that the West is so preoccupied with China? The usual answer is that China's economic growth is challenging Western global hegemony which has held sway for at least 250 years. The Chinese military has also reached parity with that of the West, so it is no longer subject to Western intimidation and bullying. All that is true and reason for the West to want to savage China and portray it as the root of all evil.*

*But there is one other consideration that must be taken into account. It's not only China's economic prowess and military might that frightens the West, it is also China's success as a nation versus the West's failure.*

*Moreover, China has forged a society in which there is harmony between its different ethnicities in contrast to the systemic racism that characterizes Western society.*

*Western ruling elites and their media mouthpieces do not want to acknowledge the fact that China has eliminated extreme poverty while more and more of their own people descend into poverty. They do not want to admit that China has constructed a 21st century infrastructure while they lag far behind. They do not want to confront the fact that the Chinese people ⁹overwhelmingly support their government while people in the West have lost confidence in their own, they do not want to accept that China beat COVIDC-19 while they haven't, and finally they are loathe to accept the fact that a non-white nation has out performed them and will continue to do so into the foreseeable future.*

*In order to deflect attention away from these truths the West has concocted a series of lies and slanders that allow them to deny reality. Instead of poverty alleviation the West imagines "genocide." Instead of the advances in HSR, EVs, alt-energy and e-commerce they focus on "IP theft," instead of a socioeconomic system that serves the people, they accuse China of forced labor and forced sterilizations. Instead of seeing China as defending its national sovereignty in the South China Sea, Hong Kong and Taiwan, it's called an aggressor.*

*All the China-bashing serves multiple purposes but ONE of the main reasons is to make sure that people in the West do not get to hear nor see what the real China is all about because if they did they may get ideas that the Western elites don't want then to have, such as socialism works for the betterment of the 99% while capitalism works primarily to enrich the 1%.*

Without debts restructure any good QR will still be too little too late.

Next quarter if USD to MYR stay at 4.6 then CapitalA USD borrowing and lease liabilities will have RM 300+ million foreign exchange loss.

UlarSawa

Haiyoh Mike🐁 hiding at AirAsia HQ sini pun hang fitnah banners again but so timid to accept Senior Income challenge meh. Senior Income laughing at you takda ⚽ leh. So memalukan lah. You self proclaimed macam StockGod in I3 one leh. Kena pijak sampai no ⚽ you pun tak kisah kah. Kesian Mike🐁 ni. Haiyoh. Correct?

Income

Ular opened a competition for Mike 🐀.

But Mike 🐀 very scared to join competition.

Now we in i3 can everyday say the TRUTH… MIKE 🐀VERY SCARED OF COMPETITION WITH EVEN A JUNIOR IN i3.

WHAT A 🐀 LIFELONG TITLE 🐀 GETS:-
🐀 WITH NO BALLS ⚽️.

Then we will have Armada and CapitalA boss doing a Bollywood dance duet.

No worries
Soon Armada will join CapitalA and AAX in PN17 companies list.

Borrow from bulldog:

bulldog

Accumulation in progress

Huat chaiii

HRC already cut loss long ago only hold 500 units to kacau Mike tikus trapped at 44 floor.

I3lurker,
Most of HRC response is like no response.
What should I do next?

Response from HRC:

We would like to reiterate that our decision-making process is guided by a strict code of ethics and compliance with our company’s policies and procedures, which include a thorough evaluation process to ensure that we obtain the best value for our purchases while maintaining high standards of quality and reliability to our customers. We remain committed to always operate with integrity and with the best interests of our shareholders and stakeholders.

Both, the Whistleblowing Committee as well as the Company’s external auditors i.e., PwC have reviewed the existing hedging policy, internal controls and activities. There is no malpractice, impropriety, misconduct, and/or omission detected.

Dear Sir/Madam,

We acknowledge receipt of your email.

Thank you and have a good day.


Bursa 2U
Bursa Malaysia Berhad
Our Ref: CAS-29378-R4B6S6

You are welcome

Dear IR,
ir@bumiarmada.com
enquiry@bumiarmada.com

I would like to draw your urgent attention to your bursa announcement and the CGS CIMB and Hong Leong Investment Bank (HLIB) arbitrary estimate of a six-month downtime. Please rebut or confirm the IB wild/irresponsible reporting.

Dear SC and Bursa,

Please investigate are CGS CIMB and Hong Leong Investment Bank (HLIB) arbitrary estimates of a six-month downtime bordering on wild/irresponsible reporting and violated SC rule and regulation on market manipulation?

Bumi Armada Berhad ("Bumi Armada") wishes to announce that, following a prolonged period of top quartile production and operational performance, production from the Armada Kraken FPSO ("Kraken FPSO") was recently shut-in following the failure of critical hydraulic submersible pump (HSP) transformers. The Kraken FPSO is owned by Bumi Armada’s wholly owned subsidiary, Armada Kraken Pte Ltd ("AKPL") and is deployed at the Kraken Field under a bareboat charter contract ("BBC").

AKPL, together with EnQuest (the field operator), planned and executed a restart of the facility but the attempted remediation programme was unsuccessful, and the Kraken FPSO remains shut-in.

AKPL is working with EnQuest to assess alternative technical solutions, with the aim to return to production, on a phased basis, in the coming weeks. In the meantime, key maintenance activities, originally scheduled for execution within two periods of single train operations in the third quarter of the year, are being executed during the period of shut-in. These activities are intended to negate the requirement for any further planned outages in 2023.

The current shut-in and future reduced level of production, means that BBC revenue earned by AKPL will be reduced. Given the current uncertainties, the financial impact of this incident cannot be reliably estimated at this point, but is expected to be material for Bumi Armada.

Further updates will be made from time to time when there are material developments.

This announcement is dated 2 June 2023.

I quote the below CGS CIMB and Hong Leong Investment Bank (HLIB):
https://klse1.i3investor.com/servlets/ptres/67710.jsp

CGS CIMB noted that FPSOs are typically required to achieve a minimum annual operational uptime of circa 95%, failing which the FPSO charterer does not pay the full bareboat charter contract (BBC).

“While FPSO Kraken received final acceptance from EnQuest in June 2017, Bumi Armada was paid just 70%-80% of the full BBC rate for failing to meet its uptime threshold until 1Q(20)20, when that threshold was achieved. For the past three years, the FPSO Kraken had been performing well, until the recent incident with the HSP (hydraulic submersible pump) transformer.”

Without guidance from either Bumi Armada or EnQuest, CGS CIMB has included a loss of six months of BBC cash receipts in 2H2023F, a loss of six months of finance lease income in the FY2023 profit and loss statement (P&L), and US$50 million of repair and maintenance costs borne solely by Bumi Armada and charged into its FY2023F P&L.

As such, the research firm lowered its FY2023 core net profit by 47%, implying the reduction in SOP valuation of Bumi Armada from 87 sen to 79 sen from the three adjustments above, and a lower TP of 69 sen.

Meanwhile, Hong Leong Investment Bank (HLIB) Research estimates that the Kraken FPSO has a daily charter rate of approximately USD480k/day (or USD175m/year), which accounts for some 35% of the group’s revenue contribution in FY2022.

“We are negative on this development. While we acknowledge that we do not have clarity of Kraken’s shut-in timeline yet, we decide to make an arbitrary estimate of a six-month downtime for the said FPSO,” it added.

That said, the research house trimmed its FY2023 net profit forecast by 38%, while leaving FY2024-FY2025 earnings estimates unchanged

Thank you

Best Regards
Lee Soon Sheng

Good morning i3lurker,
Can you provide me the link to CGS-CIMB report.
I will write and urgent email to Amarda IR with CC to SC and Bursa to complaint is the CGS-CIMB accuracy of their information or misinformation?

CGS-CIMB Securities research estimates a similar downtime. It has included a loss of six months of BBC cash receipts, finance lease income and US$50 million (RM230 million) of repair and maintenance costs into the group’s profit and loss forecast

Top 5 causes of transformer power quality problems

Loose connections — Long term vibration can loosen connections in electrical transformers. Going unchecked results in excessive buzzing and overheating.

Excessive harmonics — A higher temperature on a neutral termination may indicate the presence of harmonics. Per IEEE 519, the total harmonic distortion for voltage should be less than 5% for systems below 69 kV. The total demand distortion for current should also be less than 5% depending on the size of the source in relation to the load. Excessive harmonics on the third or fifth level often point to interference from electronic loads

Unbalance — When you compare temperatures of terminations and coils using a thermal imager, a higher temperature on one phase may indicate unbalance. When troubleshooting with a power quality analyzer, compare the current on each phase, noting that the maximum voltage on balance is generally 2%. That means the voltage on any one phase should not vary by more than 2% of the average of the three phases. The most common cause of unbalance is a change in load configuration, so quickly map out your overall equipment distribution system.

Overloading — If the temperatures are substantially higher than expected and the unit is not exposed to direct sunlight, then there’s most likely a problem with overloading and cooling. Compare kVA, voltage and current against the transformer’s nameplate. If the power consumption is greater than information listed on the nameplate, there’s likely an overload.

Cooling issues — Culprits are often cooling oil circuit blockages or failed cooling fans.

At the MCC trip amp will be set that will auto cut off the electricity supply if the amp is too high (above safe operating limit).

Running at perlong high amp will cause the motor stator wiring insulation melt and short circuit and burn the stator wiring.

High amp normally cause by pump impeller overload (too heavy due to sudden change in liquid viscosity or density or addition load (bolt and net) jammed at impeller

A tranformer is used to step down electricity from 11 KV or higher KV to 415V.

Thro' motor control center a 3 phase 415V electricity current is feed into stator of the motor and the induced current will cause the rotor to rotate at 3000 or 1500 rpm.

The motor rotor is couple to the drive shaft of a pump and rotate the pump impeller inside the pump casing. The rotating impeller will sucked in the liquid from pump suction and exit the impeller at high velocity then upon exiting the pump casing discharge the velocity head is converted to pressure head. The pressure head will then force the liquid flow along the discharge piping to the intend destination.

Motor and pump are very common items use to transfer liquid from one place to another place along the piping. And normally important pump will have a hot stanby complete pump with motor and many pump spare parts and motor on cold stanby.

I am saying MAS make a killing when supply is limited.

So if you activate more planes, you increase the supply will there be demand increase to fill up the seat.

Why next month?

Kaching, kaching, kaching !!!
another round buy sell done

again.
thanks for your money contribution

Mind I asking when is your last time family holidays?

Me last year UK tour family of 6. My daughter graduation.

I'm looking at MAS airline at the moment, the flight ticket price at RM2300 KUL to LON.
But RM7600 LON to KUL.
So total for a person is around RM9817.

Forget holidays abroad, even eating out is a luxury for many M40s (Poll Inside)
facebook sharing buttontwitter sharing buttonwhatsapp sharing buttontelegram sharing buttonlinkedin sharing button
By KHOO GEK SAN
NATION
Sunday, 04 Jun 2023
PETALING JAYA: A business owner who was once in the upper-income bracket has been forced to downgrade her lifestyle due to the impact of the Covid-19 pandemic and increasing cost of living.

Running a budget airline catering for tour travel in Asean is a tough job unlike Western world where everyone go travel during summer holiday.

In Asean family travel only during school holiday.

My advice, never all in if you are an investor but if you are a gamble then you should know how a gamble end up with.

Borrow a phase from i3lurker:

kaching !!!
another round buy sell done

again.
thanks for your money contribution

AAX
Quarter Ended: 31 March Jan - Mar 2023: Oct - Dec 2022: Changes Q-O-Q
Fuel consumed (Barrels): 445,030: 255,369: 74%
Average fuel price (USD/Barrel): 116: 126: -8%
Exchange rate: 4.39: 4.57: -4%

https://id.tradingview.com/symbols/NYMEX-AKS1%21/

TradingView
SINGAPORE JET KEROSENE (PLATTS) FUTURES

Kontrak berkelanjutan

AKS1!NYMEX

Pasar buka
90.156USDD
+1.301
+1.46%

When you did not hold to your word you need an excuse to cover your lie.
(The delay was due to the need to incorporate the latest FY22 audited figures).

After that you need a bigger excuse to cover your second lie.

What will it lead to and how will it end?

Post removed.Why?

Just a question did STony or CapitalA done all the below or just an empty talk only on the regularisation plan?
The group is on track to announce the details of its PN17 regularisation plan in July 2023 with completion expected by end- 3QCY23. The delay was due to the need to incorporate the latest FY22 audited figures. We gathered that the group plans to divest its aviation group to AirAsia X in exchange of shares for subsequent distribution to its shareholders.


The Requisite Announcement must -
​ ​ ​
​ (a) contain details of the regularisation plan and sufficient information to demonstrate that the PN17 Issuer is able to comply with all the requirements set out under paragraph 5.4 below after implementation of the regularisation plan;
​ ​ ​
​ (b)​ include a timeline for the complete implementation of the regularisation plan; and ​
​ ​ ​
​ ​(c) be announced by the PN17 Issuer's Principal Adviser.
​ ​ ​
​4.3 Before a PN17 Issuer makes the Requisite Announcement, it must ensure that -
​ ​ ​
​ ​(a) ​all agreements to be entered into with third parties as part of the regularisation plan, have been duly executed by all parties to such agreements; and
​ ​ ​
​ ​(b) where the regularisation plan involves a compromise or arrangement with the PN17 Issuer's creditors, the PN17 Issuer has taken reasonable steps to procure the agreement-in-principle of such creditors.

Saudi Arabia slashes oil production and threatens to do 'whatever is necessary' to boost prices
The move is likely to inflame tensions with US President Joe Biden and risks reigniting inflation in Britain and Europe

By
James Titcomb
4 June 2023 • 7:45pm
Saudi Minister of Energy Prince Abdulaziz bin Salman al-Saud arrives for the 35th OPEC meeting Vienna
Saudi Arabia has announced plans to cut its oil production by 1 million barrels per day (bpd) as the Kingdom pledged to do “whatever is necessary” to prop up sagging prices.

Oil prices were expected to jump on Monday after the surprise unilateral decision by the Gulf state

Good morning i3lurker,
I am not a smoker.
3iii is right. My current wealth is from my career advacement employed in the real economy producing good and services, which create real wealth for the economy, boss, workers and society.

I had yet to make my million from stock market but that day will come.

Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ Too many smart brains are trying to make money from financial assets.
They are better employed in the real economy producing good and services, which create real wealth for the economy.
31/05/2023 4:31 PM

Forget holidays abroad, even eating out is a luxury for many M40s (Poll Inside)
facebook sharing buttontwitter sharing buttonwhatsapp sharing buttontelegram sharing buttonlinkedin sharing button
By KHOO GEK SAN
NATION
Sunday, 04 Jun 2023
PETALING JAYA: A business owner who was once in the upper-income bracket has been forced to downgrade her lifestyle due to the impact of the Covid-19 pandemic and increasing cost of living.