yesterday news at Nanyang ,have anyone read it....

Icon Offshore to buy Shabra energy assets
Nanyang Sat, Jun 11, 2022 05:50pm - 19 hours


（Icon Offshore (ICON, 5255, Main Board Energy) is set to become the new savior of Sabra Energy (SAPNRG, 5218, Main Board Energy)?

According to the financial weekly "The Edge", Icon Offshore intends to take over Sabra Energy's 51% stake in the joint venture Sapura Baker Hughes TPS.

Icon Offshore and Sapura Energy have not denied this acquisition plan.

Responding to The Edge, Sapura Energy, which is already in PN17 and in urgent need of restructuring, said, "As part of our restructuring plan, we are reviewing all of our assets and operations, including Sapura Baker Hughes."

For its part, Icon Offshore responded that the group is constantly looking for opportunities to strengthen its capabilities and add value to the services it provides.

"The financial position now puts us in a strong position to pursue some worthwhile M&A activity."

Sabra Baker Hughes is a 51:49 joint venture between Sabra Energy and US oil and gas giant Baker Hughes, an oil and gas services company, and is responsible for providing maintenance services for NNPC's floating LNG facilities.

In particular, the report said that the joint venture is one of Sabra Energy's "more successful units"; as of January 2021, the company has over RM200 million in assets and approximately RM158 million in liabilities, and earned RM37.85 million in net profit after tax.

However, Baker Hughes' opinion on this potential acquisition and whether there are provisions in the affiliation agreement that may affect this acquisition is unknown at this time.

now it pass to next year, if this news can reload RM1.8 billion to SEB to cover working capital
requirements and partial repayment. the prices will up to 6.5 - 7 cent at this week.

big seller at 5 cent may be is short selling, but who buy the big lot share..

i also buy at 0.04. ha ha ha