W/O RI, it will be better off for Sumatec as it provide more capital to monetise Rakushechnoye field before embark on new oil field acquisitions after getting the refund of USD30m from Borneo Oil.

The next expiry date to implement the RI fall on 22.08.16. Challenging tasks for all.....

The next expiry date to implement the RI fall on 22.08.16. Challenging tasks for all.....

Good sharing.... LOL

nikeblood, possible RI at 7 sen. Another 7 sen from reserves.

Interesting.....

Hope that directors will act on best interest for Sumatec....Let NFC reprocess the two tankers and claim the balance from Sumatec. I'm sure that the proceed of disposal of tankers will sufficient to cover the outstanding lease payment.

20.03.15 not 20.03.15

Next oil price movement only be known after 30.03.15. http://www.cmegroup.com/trading/energy/crude-oil/light-sweet-crude_product_calendar_futures.html

Only yourself understand you position. Do not blamed for misjudgement, treat it as lesson to growth.

In period of uncertainty, "stay" is the best strategy. To determine to stay or not, you need to fully understand your position.

Assumed that you owned 1b of share and subscribe for RI, your shareholding increase to 1.5b.

Taken the paid up before and after, your % of shareholding is diluted from 28.71% to 25.20%.

As at the value of shareholding, I cannot comment.

Million

Exiting 3,482.70
RI 1,741.35
BE 727.30

Enlarged 5,951.35

Before After

Shareholding 1,000.00 1,500.00
Paid up 3,482.70 5,951.35

28.71% 25.20%

I sincere hope that Bursa not to grant approval to Sumatec sooner until Sumatec proved the quality of Rakushechnoye Oil Field. In this case all, shareholders are winner rather than information only available to certain shareholders.

Sumatec had raised sufficient money thru previous RI and PP.

If the approval of current proposal not granted by Bursa within next two months, I sincere wish that BOD of Sumatec should consider to abort the proposal in view of unfavourable current situation.

It will definitely help Sumatec to conserve more cash during this turbulent period and focus on Rakushechnoye Oil Field until it start oil production.

Or renegotiate with vendors for all shares option with offer for sales to all entitled shareholders. All entitled shareholders then decide on the offer rather than all offer to Tan Sri Halim. Many shareholders may not want their shareholding diluted after this RI as the distribution of offer is not even.

Hoe Leong and Semua are difference entities. Semua's result only consolidated as single line as investment in associated in Hoe Leong AAR. No full financial data available. As whether Sumatec is paying the loan, I guess it is none as no movement in "Assets available for sale".

google. hoe leong sgx. you may get information that you need.

Hoe Leong annoucement. Semua is loss making due to huge financing cost but has positive ebita.

disclosed as asset available for sales in account.

it used to be wholly owned but dispose to Hoe Leong and now pending completion. 49% yet to transfer.

Sorry. SGX listed

loan used to finance Semua's oil tanker. Market value as at 2012 sufficient to cover whole loan alount.

associates refer to Semua Shipping Group which previously 51% owned.

Error

Without the RI/ acquisition, it will be better off. The cost of acquisition is gone up by RM26.25m (USD125m @ (3.36-3.15).

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Without the RI/ acquisition, it will be better off. The cost of acquisition is gone up by RM40.95m (USD195m @ (3.36-3.15).

Deposit paid to vendor was USD30m not USD35m.

Without the RI/ acquisition, it will be better off. The cost of acquisition is gone up by RM26.25m (USD125m @ (3.36-3.15).

Sumatec is in upper hand to re-negotiate for better price from vendor now as Buzachi Neff LLP has huge borrowing and incurring huge financing cost. We are not in hurry to complete the acquisition but the vendors are. Hope that Bursa will hold the approval until such time that the pricing is favourable to Sumatec.

Morning All Sumatec Shareholders,

Sumatec had paid deposit to Borneo Oil's shares vendors USD35m. In event the deal rejected/aborted, Sumatec will be receiving RM117.6m (USD35m @ 3.36), potential realised forex gain of RM7.35m (used BNM mid rate as at 31.08.14- 3.15). Together with the cash balance as at 30.09.14, Sumatec has RM145.1m. With that amount of money, Sumatec should able to shelther itself during this cloudy moments while waiting for oil price to recover.

As shareholders of the Company, (individually we may only hold small number of shares but when we gather, the amount could be substantial), we have every right to participate in making decision of the direction of the Company by exercising our voting power.

At least for now, the cash balance is increasing. Do not worry for now, have a nice weekend.

makemoneynow. FYI, Q2-RM270m Q3-RM265. Someone is paying the loan but not Sumatec. Don't worry. The Sumatec BOD are more worry than you.

makemoneynow, if you are guarantor to a borrower, do you think that the bank/ creditor allow you to discharge you liabilities before your borrower proved their repayment capability. Please refer to their announcement for details.

It is announced earlier. If this affect you investment decision, you should not buy in Sumatec in the first place.

Dispute the direction of share price will not benefit us all here. Discuss on the information that we gather thru you available source here will be more beneficial to all investors.

When we disagree with information, we discuss with fact. We cannot change fact.

makemoneynow, I hurting too as I'm shareholder too....

Posted by makemoneynow > Nov 29, 2014 12:16 PM | Report Abuse

Why people just come here with 5 posting claim know so much? Please stop deceiving others with more rumors. I feel like the same people talking to each other.

Please if you want to help others, don't continue to flood this forum with more empty promises and tales. We are already hurting.

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This forum is for us to discuss on information that we gather. It is not the buy/sale call. Reader should judge and responsible for their own investment decision.

Posted by makemoneynow > Nov 29, 2014 11:56 AM | Report Abuse

If anyone have very good points to boost the share price, can they go and share with the management and Sumatec and boost the share price instead of posting here only? Here we can only read and do nothing.

Reality is we see price dropping every week. So if anyone do have a great plan to save the company, please go and share with the owners or call for a EGM. Thank you.

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Ya. Makemoneynow, I agree with you. But the BOD entrusted by us should prosper the business not share price. Sumatec is not dealing in share business.

May be we should suggest to BOD in next meeting to hold an press conference to update status after QR to allow all shareholders aware on development in oil field.

DH, have you sighted all agreements executed at registered office in previous RI? Please share if any. TQ

But I sure that management is working on it when the subsidiaries are dispose to Singaporean. Completion targeted to complete by December 2014 as announced earlier.

Due to previous shipping business. No sure how much is the outstanding now as subsidiaries are deconsolidated.

Sumatec has term loan abt RM18m which is due to off-set again disposal proceed of shipping business.

The risk is not RM18m but corporate guarantee given to that subsidiaries.

Sumatec will survive even without sales of crude oil for at least 2 years as Sumatec is charging JV parties for development works done. Sumatec should first relinquish the corporate guarantee that extern to previous subsidiaries by complete the disposal ASAP as it carry the risk of default by acquirers.

After that, Sumatec is debt free.

Sumatec has not shared its crude oil sales data which I believed currently is none due to the no movement in its intangible assets which suppose to charge out when actual oil produced.

The income solely derived from oil development works done for JV.

As at why not income:-
1. No oil !!!! We must has trust on our regulatory system that are in place.

2. No sufficient commercial oil generated. It might be the case. We studied incremental cost in accounting. Certain activities will trigger cost if activated. Commercialise oil revenue might incurred additional fixed cost that might not be off-set by oil revenue that generated. It could be the reason that management is waiting for full 12 oil wells to operate.

Only thing for Sumatec's shareholders is to wait. To wait for:

1. Management updates. Very important which there not done ant after 20/08/14.

2. Bursa approval on RI which I believe it will take a while due to oil price as it may affect the valuation of assets.

3. Sudden announcement on excise of ESOS. It meant target hit for FY2014.

Oil price cannot be low all the time.... The inventory of oil are well controlled by major producers.

Future market and spot market are difference. Future market oil trading can be few hundred time more than actual consumption. But without actual delivery of oil, nothing can move.

This is controlled market. If you want to take actual delivery of goods, you may need to pay premium on top of quoted price. You may offered a discount from quoted price to get actual delivery if you have special conditions.

Weak demand in Oil. I don't think is the case.

To overcome current over supply:-
1. US import additional 500k barrel/day. Internal over suppllies absorbed internally. Export ban stay.

2. Rusia cut 500k barrel.

3. OPEC follow 30m barrel limit.

2m barrels access fully absorbed.