Oil prices inch higher ahead of OPEC+ meeting to discuss supply cuts
https://www.theedgemarkets.com/article/oil-prices-inch-higher-ahead-opec-meeting-discuss-supply-cuts

EMPLOYEES PROVIDENT FUND BOARD
Acquired 1,800,000 shares
https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3296557

1 USD = 4.65011 MYR

传opec或减产百万桶-国际油价闻讯大涨逾3%
https://www.chinapress.com.my/20221003/%e4%bc%a0opec%e6%88%96%e5%87%8f%e4%ba%a7%e7%99%be%e4%b8%87%e6%a1%b6-%e5%9b%bd%e9%99%85%e6%b2%b9%e4%bb%b7%e9%97%bb%e8%ae%af%e5%a4%a7%e6%b6%a8%e9%80%be3/

OPEC+ to consider oil cut of over than 1 million barrels per day
https://www.reuters.com/business/energy/opec-consider-oil-output-cut-over-1-mln-bpd-sources-2022-10-02/

OPEC+ to consider oil cut of over than 1 million barrels per day
https://www.reuters.com/business/energy/opec-consider-oil-output-cut-over-1-mln-bpd-sources-2022-10-02/

传opec或减产百万桶-国际油价闻讯大涨逾3%
https://www.chinapress.com.my/20221003/%e4%bc%a0opec%e6%88%96%e5%87%8f%e4%ba%a7%e7%99%be%e4%b8%87%e6%a1%b6-%e5%9b%bd%e9%99%85%e6%b2%b9%e4%bb%b7%e9%97%bb%e8%ae%af%e5%a4%a7%e6%b6%a8%e9%80%be3/

EMPLOYEES PROVIDENT FUND BOARD
Acquired 2,921,000 shares
https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3295948

EMPLOYEES PROVIDENT FUND BOARD
Acquired 3,000,000 shares
https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3295528

1 USD = 4.63151 MYR

1 USD = 4.62157 MYR

1 USD = 4.61943 MYR

Analysts: Sapura Energy’s turnaround still uncertain given challenging outlook
https://www.theedgemarkets.com/article/analysts-sapura-energys-turnaround-still-uncertain-given-challenging-outlook

SAPURA ENERGY BERHAD ANNOUNCES ENCOURAGING RESULTS IN Q2 FY2023 Summary of Q2 FY2023 financial results:
• Revenue of RM1.17 billion
• EBITDA of RM313 million
• LATAMI of RM3 million
Sapura Energy Berhad (“Sapura Energy”) and its group of companies (“the Group”) announced results for the second quarter of financial year 2023 (“Q2 FY2023”), recording positive earnings before interest, taxes, depreciation, and amortisation (“EBITDA”) of RM313 million, and revenue of RM1.17 billion. The Group posted RM3 million loss after tax and minority interests (“LATAMI”), mainly due to its share of a well write-off and impairment recognised by its Exploration & Production (“E&P”) strategic partnership SapuraOMV Upstream. In the preceding quarter (“Q1 FY2023”), the Group posted a profit after tax and minority interests (“PATAMI”) of RM 92 million, and EBITDA profit of RM250 million on the back of RM886 million revenue. In the corresponding quarter last year (“Q2 FY2022”), the Group recorded a LATAMI of RM1.5 billion, and an EBITDA loss of RM1.17 billion on the back of RM747 million revenue. Sapura Energy’s Q2 FY2023 EBITDA performance is mainly attributable to commercial settlements from certain contracts in its Engineering & Construction (“E&C”), materialisation of additional claims in Operations & Maintenance (“O&M”), and improved rig utilisation and day rates in its Drilling business segment. The Group’s E&C business segment continues to be under challenge by the current operating landscape. Despite the challenges, all business segments registered positive EBITDA, with E&C delivering RM38 million; O&M delivering RM47 million; and Drilling delivering RM150 million.
PROGRESS IN RESET PLAN
“We are encouraged by our financial performance this quarter, as it indicates early results in our Reset Plan and we are on the mend. Clearly, the game-changer in our future growth is the reduction of unsustainable debt, which we are working hard to resolve with all stakeholders,” said Sapura Energy Group CEO Datuk Mohd Anuar Taib. Sapura Energy recently sought assistance from the Corporate Debt Restructuring Committee of Malaysia (“CDRC”), a committee under the purview of Bank Negara, to mediate its debt restructuring negotiations with lenders. CDRC has accepted Sapura Energy’s application and the Group is expected to submit a proposal for a restructuring of its debts within 60 days from September 1. As part of portfolio rationalisation, the Group recently completed the divestment of its heavy lift pipe laying vessel Sapura 3000 and entered into a memorandum of agreement (“MOA”) for the disposal of three drilling rigs. The Group is also making progress in its proposed scheme of arrangement (“SOA”). Sapura Energy and 22 of its wholly-owned subsidiaries are completing the verification of claims submitted by its creditors under the proof of debt exercise. Initiated in December 2021, the Group’s Reset Plan aims to create long-term sustainability by rebuilding the Group’s balance sheet, enhancing its operational and risk management framework, and charting future business direction. Under the Reset Plan, the Group’s business segments refocused its bid funnel based on capabilities and risk appetites, while enhancing project management discipline. The Group is currently executing close to 90 projects globally, nine of which commenced in the Q2 FY2023, and completed 18 projects in the same quarter. Its order book to-date stands at RM7.7 billion.

Malaysia's Trade Surplus Widened on Month in August
KUALA LUMPUR--Malaysia's trade surplus rose in August from the previous month, driven by higher exports of electronic and petroleum products.

The Southeast Asian nation reported a trade surplus of 16.92 billion ringgit ($3.72 billion), compared with MYR15.49 billion in July.

"On a month-on-month basis, trade, exports, imports and trade surplus grew 5.2%, 5.4%, 5.0% and 8.6%, respectively," the Ministry of International Trade and Industry said Tuesday.

Compared with the previous year, exports rose 48.2% in August to MYR141.33 billion, while imports grew 67.6% to MYR124.41 billion, the data showed. The surplus contracted 19.9% to MYR16.92 billion.

The expansion in exports was driven by shipments of electronic, petroleum and palm-oil products.

Shipments to China and the U.S. grew 21.3% and 38.2% on year in August to MYR18.46 billion and MYR14.98 billion, respectively.

Total trade for January to August rose 33.1% from the previous year to MYR1.873 trillion, the ministry said. Exports rose 30.3% to MYR1.014 trillion during the period, imports increased 36.7% to MYR858.83 billion and the trade surplus came in at MYR155.57 billion, up 3.7%.
https://www.marketwatch.com/story/malaysia-s-trade-surplus-widened-on-month-in-august-271663646527

NET PROFIT(-109%)

High Court strikes out Serba Dinamik's bid to stay appointment of interim liquidator, orders group to pay RM500,000 costs
https://www.theedgemarkets.com/article/high-court-strikes-out-serba-dinamiks-bid-stay-appointment-interim-liquidator-orders-group

There may be hope yet for Sapura Energy
KUALA LUMPUR: Once all but written off, Sapura Energy Bhd seems to be doing something right.
A year ago, the thought of the oil and gas (O&G) service provider turning a profit was unimaginable.
If its first quarter (Q1) 2022 results are anything to go by, Sapura Energy seems to be turning a corner.
It returned to the black Q1 ended April 30, 2022 with a net profit of RM91.93 million from a net loss of RM97.07 million a year ago.
Improving Prospect
Bankers acknowledged that Sapura Energy's cash flow was improving thanks to clients who still trusted it despite its financial condition.
In the past six months, the company announced contract wins worth more than RM3 billion, including renewals from repeat clients.
They included contract extensions for pipe-laying vessels from Petrobras in Brazil, long-term contract for drilling services from PTTEP Thailand, an award for transportation and installation from Hess in Malaysia; and several other wins in Gulf of Mexico and West Africa.
It also undertook the sale of its Sapura 3000 vessel to improve cash position.
According to banking sources, Sapura Energy no longer had access to working capital from its banks.
Despite this, industry observers indicated that Sapura Energy's debt restructuring seemed to be making some progress, and the recent news that Corporate Debt Restructuring Committee had given its nod to mediate the company's debt revamp could only strengthen its turnaround efforts.
Setting Right Course
So, it appeared the current management team was doing everything it could to set the course right, an O&G expert said.
"If that is indeed the case, it then begs the question: why are there rumours swirling that the company is forced to sell almost all of its assets and businesses?" he asked.
According to banking sources, foreign advisors representing the banks that provided the multi-currency facility (MCF) to Sapura Energy were, to put it crudely, keen to sell the company for parts, killing the potential of a Malaysian entity that continued to do well globally.
The MCF currently stands at a combined value of about RM10.3 billion.
"What is the motivation for wanting Sapura Energy to be carved out, since it has made enormous progress to date as a group? Are there vested interests? Are there buyers already lined up?" the expert asked, again.
"Whatever the reason, it seems a shame to sink a viable ship," he said.
Delay in Restructuring?
Local senior bankers expressed worry that Sapura Energy was taking a little too long to progress its restructuring plan and the management had been reticent in the meantime.
Indeed, Sapura Energy has not been actively engaging with the media or stakeholders, even when there is public outcry over the call for its bailout.
https://www.nst.com.my/business/2022/09/830862/there-may-be-hope-yet-sapura-energy

SAPNRG Major Shareholders (29 Apr 22)
AMANAH SAHAM BUMIPUTERA 28.60%
SAPURA TECHNOLOGY SDN BHD 10.55%
AMANAHRAYA TRUSTEES BERHAD AMANAH SAHAM MALAYSIA 4.00%
AMANAH SAHAM MALAYSIA 2 WAWASAN 3.44%
AMANAH SAHAM MALAYSIA 2.18%

SAPURA PROJECT SERVICES APPOINTS INTERIM LIQUIDATOR Sapura Energy Berhad (“Sapura Energy” or “the Company”) today announced the appointment of Mr Lim San Peen as the Interim Liquidator for Sapura Project Services Sdn. Bhd. (“SPSSB”). SPSSB is a subsidiary of Sapura Technology Solutions Sdn. Bhd., a wholly owned subsidiary of Sapura Energy. SPSSB is not a major subsidiary of the Company as defined under Chapter 1 of the Main Market Listing Requirements. The appointment of the Interim Liquidator does not bear immediate material financial and operational impact on Sapura Energy, and will not affect the progress of the Company’s restructuring plan. Mr. Lim San Peen was appointed as the Interim Liquidator of SPSSB under the Order of the High Court of Malaya at Shah Alam, following a Winding Up Petition against SPSSB by Danamin (M) Sdn. Bhd.. SPSSB, a non-core business for Sapura Energy, specialises in telecommunication services which include turnkey telecommunications, network and security solutions for front-end engineering design (FEED), engineering, procurement, and construction (EPC) projects in oil & gas and utilities markets.

Sapura Energy gets Bank Negara’s nod to restructure debts with multicurrency facilities lenders
https://www.theedgemarkets.com/article/sapura-energy-gets-bank-negaras-nod-restructure-debts-multicurrency-facilities-lenders

NET PROFIT(+102%)
DIVIDEND PER SHARE (3SEN)

Petrobras Awards $130M Charter Extension for Sapura Esmeralda PLSV
https://aogdigital.com/news/498622-petrobras-awards-130m-charter-extension-for-sapura-esmeralda-plsv

Offshore Gas Pipeline Market 2022 Upcomming Big Trends | Saipem, Subsea 7, McDermott, Sapura
https://shanghai.ist/2022/08/09/offshore-gas-pipeline-market-2022-upcomming-big-trends-saipem-subsea-7-mcdermott-sapura/

Sapura Energy owners’ stake increase a good sign
https://www.thestar.com.my/business/business-news/2022/08/09/sapura-energy-owners-stake-increase-a-good-sign

Paratus Energy Services Ltd. Announces Contract Extension for Sapura Esmeralda
Mon, August 1, 2022, 3:32 PM·4 min read
HAMILTON, Bermuda, Aug. 1, 2022 /PRNewswire/ -- Paratus Energy Services Ltd. ("Paratus") today announced that the Seabras JV, an associated company in which Paratus indirectly holds a 50% equity interest, has been awarded a two-year contract extension by the Brazilian oil and gas company Petróleo Brasileiro S.A. ("PETROBRAS") for Sapura Esmeralda from August 2nd 2022 to August 1st 2024.

The award continues to strengthen Seabras JV's long-term relationship with PETROBRAS, and furthers its position in the robust JV market for Pipe Lay Support Vessels ("PLSVs") in Brazil.

With all 6 PLSVs in the fleet fully contracted for under long term contracts, Seabras JV's contract backlog at the end of July 2022 is $940 million.
https://finance.yahoo.com/news/paratus-energy-services-ltd-announces-073200392.html

七成中小企愿投入数字化
https://www.enanyang.my/%E8%A6%81%E9%97%BB/%E5%A8%81%E5%A3%AB%E6%9C%89%E5%88%AB%E4%BA%8E%E4%BC%A0%E7%BB%9F%E9%93%B6%E8%A1%8C-%E4%B8%83%E6%88%90%E4%B8%AD%E5%B0%8F%E4%BC%81%E6%84%BF%E6%8A%95%E5%85%A5%E6%95%B0%E5%AD%97%E5%8C%96

YTL LAND WINS BIG ON THE WORLD STAG
https://www.thestar.com.my/news/nation/2022/06/13/ytl-land-wins-big-on-the-world-stage

YTL Power completes acquisition of Tuaspring Power Station in Singapore
https://www.thestar.com.my/business/business-news/2022/06/01/ytl-power-completes-acquisition-of-tuaspring-power-station-in-singapore

YTL Corp posts 18-fold increase in 3Q earnings
https://www.thestar.com.my/business/business-news/2022/05/27/ytl-corp-posts-18-fold-increase-in-3q-earnings

NET PROFIT(+1748%)

Dividend 2 cent

NET PROFIT(+800%)

Now is in collecting mode, Net Short Position increase from 20220505 - 0.15% to 20220519 - 0.19%

NET PROFIT
-197,904 (-118%)

Why YTL or YTL Power both also didn't announce they got the DIGITAL BANK LICENSE. RHB BANK, Axiata and AEON CREDIT SERVICE all made the announcement.

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3256842
https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3256855
https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3256963

dragon328 Why RHB BANK, Axiata and AEON CREDIT SERVICE all have DIGITAL BANK LICENSE company announcement, only YTL does not?

Thank dragon328, for the clear picture.

YTL Digital Capital Sdn Bhd (a subsidiary of YTL Corp Bhd)
Bank Negara Malaysia (BNM) has announced the five successful applicants of digital bank licences, as approved by the Finance Minister. The five are: a consortium of Boost Holdings Sdn Bhd (owned by Axiata Group Bhd) and RHB Bank Bhd; a consortium led by GXS Bank Pte Ltd and Kuok Brothers Sdn Bhd; a consortium led by Sea Ltd and YTL Digital Capital Sdn Bhd (a subsidiary of YTL Corp Bhd); a consortium of AEON Financial Service Co Ltd, its subsidiary AEON Credit Service (M) Bhd and MoneyLion Inc; and a consortium led by KAF Investment Bank Sdn Bhd. BNM said it received a total of 29 applications from companies and partnerships across different industries, with a mix of foreign and domestic applicants.
https://www.theedgemarkets.com/article/axiata-rhb-ytl-corp-aeon-credit-serba-dinamik-sapura-energy-digicom-pestech-international

YTL Digital Capital Sdn Bhd (a subsidiary of YTL Corp Bhd)
Bank Negara Malaysia (BNM) has announced the five successful applicants of digital bank licences, as approved by the Finance Minister. The five are: a consortium of Boost Holdings Sdn Bhd (owned by Axiata Group Bhd) and RHB Bank Bhd; a consortium led by GXS Bank Pte Ltd and Kuok Brothers Sdn Bhd; a consortium led by Sea Ltd and YTL Digital Capital Sdn Bhd (a subsidiary of YTL Corp Bhd); a consortium of AEON Financial Service Co Ltd, its subsidiary AEON Credit Service (M) Bhd and MoneyLion Inc; and a consortium led by KAF Investment Bank Sdn Bhd. BNM said it received a total of 29 applications from companies and partnerships across different industries, with a mix of foreign and domestic applicants.
https://www.theedgemarkets.com/article/axiata-rhb-ytl-corp-aeon-credit-serba-dinamik-sapura-energy-digicom-pestech-international

All in

YTL, SUPERNAP announce solar-powered data centers plans in Malaysia and Thailand
https://techwireasia.com/2022/04/ytl-supernap-announce-solar-energy-data-centers-plans-in-malaysia-and-thailand/

TALIWORKS COMPLETES MAIDEN ACQUISITION IN FOUR SOLAR PROJECTS
Kuala Lumpur, 21 April 2022 – Taliworks Corporation Berhad (“Taliworks” or the “Group”), an established infrastructure company engaged in water treatment, supply and distribution, highway and toll management, waste management and engineering and construction, has today officially completed the acquisition of the majority economic interest in four solar projectsfrom TerraForm Global Operating LP (“TerraForm Global”) and several of its subsidiaries. The said solar projects, located within the vicinity of the Kuala Lumpur International Airport, have an aggregate capacity of 19-megawatt peak. As part of the transaction, Taliworks also acquired TerraForm Global Operating (Malaysia) Sdn Bhd, an operations and maintenance services provider of the solar projects. Taliworks will be working diligently in the following weeks to complete the acquisition of the remaining minority economic interests.
“Today marks a momentous day for Taliworks as we take a significant step to diversify our scope of activities into renewable energy. Our maiden acquisition will provide Taliworks with a solid platform to further expand into other renewable energy projects. Additionally, the four solar projects will immediately serve as a reliable contributor to the Group’s earnings and cashflow, as the projects are fully backed by renewable energy power purchase agreements with investment grade off-takers. This acquisition no doubt enhances Taliworks’ already strong financial footing and serves as a potential catalyst for stable growth, moving forward. With that said, Taliworks is very proud to be a player in the renewable energy sector, and we will work hard to continue our growth in this space,” said Dato’ Ronnie Lim Yew Boon, the Executive Director of Taliworks.

MIDF raises target price for YTL Power by 20% to factor in RM3.06b cash from ElectraNet sale
https://www.theedgemarkets.com/article/midf-raises-target-price-ytl-power-20-factor-rm306b-cash-electranet-sale

行业观察家:数字银行投资巨大 网络安全问题最棘手
https://www.enanyang.my/%E8%B4%A2%E7%BB%8F%E6%96%B0%E9%97%BB/%E8%A1%8C%E4%B8%9A%E8%A7%82%E5%AF%9F%E5%AE%B6%E6%95%B0%E5%AD%97%E9%93%B6%E8%A1%8C%E6%8A%95%E8%B5%84%E5%B7%A8%E5%A4%A7-%E7%BD%91%E7%BB%9C%E5%AE%89%E5%85%A8%E9%97%AE%E9%A2%98%E6%9C%80%E6%A3%98%E6%89%8B

RHB-Axiata, Grab, Sunway, YTL tipped for digital banking licence
https://www.theedgemarkets.com/article/rhbaxiata-grab-sunway-ytl-tipped-digital-banking-licence

The Week Ahead: Unveiling of digital bank licence winners, SC and Bank Negara annual reports in focus
https://www.theedgemarkets.com/article/week-ahead-unveiling-digital-bank-licence-winners-sc-and-bank-negara-annual-reports-focus

Tomorrow EX-date: 09 Mar

Taliworks poised to continue uptrend movement, says RHB Retail Research
https://www.theedgemarkets.com/article/taliworks-poised-continue-uptrend-movement-says-rhb-retail-research

BySimply Wall StPublishedMarch 02, 2022
KLSE:TALIWRKSource: Shutterstock
Taliworks Corporation Berhad (KLSE:TALIWRK) shareholders will have a reason to smile today, with the analysts making substantial upgrades to this year's statutory forecasts. The analysts have sharply increased their revenue numbers, with a view that Taliworks Corporation Berhad will make substantially more sales than they'd previously expected.

Following the upgrade, the latest consensus from Taliworks Corporation Berhad's four analysts is for revenues of RM480m in 2022, which would reflect a substantial 59% improvement in sales compared to the last 12 months. Prior to the latest estimates, the analysts were forecasting revenues of RM429m in 2022. The consensus has definitely become more optimistic, showing a decent improvement in revenue forecasts.

Check out our latest analysis for Taliworks Corporation Berhad

earnings-and-revenue-growth
KLSE:TALIWRK Earnings and Revenue Growth March 2nd 2022
There was no particular change to the consensus price target of RM1.01, with Taliworks Corporation Berhad's latest outlook seemingly not enough to result in a change of valuation. There's another way to think about price targets though, and that's to look at the range of price targets put forward by analysts, because a wide range of estimates could suggest a diverse view on possible outcomes for the business. Currently, the most bullish analyst values Taliworks Corporation Berhad at RM1.06 per share, while the most bearish prices it at RM0.95. The narrow spread of estimates could suggest that the business' future is relatively easy to value, or that the analysts have a clear view on its prospects.

Another way we can view these estimates is in the context of the bigger picture, such as how the forecasts stack up against past performance, and whether forecasts are more or less bullish relative to other companies in the industry. One thing stands out from these estimates, which is that Taliworks Corporation Berhad is forecast to grow faster in the future than it has in the past, with revenues expected to display 59% annualised growth until the end of 2022. If achieved, this would be a much better result than the 1.6% annual decline over the past five years. By contrast, our data suggests that other companies (with analyst coverage) in the industry are forecast to see their revenue grow 8.8% per year. So it looks like Taliworks Corporation Berhad is expected to grow faster than its competitors, at least for a while.

The Bottom Line
The highlight for us was that analysts increased their revenue forecasts for Taliworks Corporation Berhad this year. They're also forecasting more rapid revenue growth than the wider market. Given that analysts appear to be expecting substantial improvement in the sales pipeline, now could be the right time to take another look at Taliworks Corporation Berhad.

Looking for more information? We have analyst estimates for Taliworks Corporation Berhad going out to 2024, and you can see them free on our platform here.

Another way to search for interesting companies that could be reaching an inflection point is to track whether management are buying or selling, with our free list of growing companies that insiders are buying.