9800 shareholders are holding 93.8% of shares outstanding. No wonder it is very illiquidity

As counted from latest annual report, Sovereign Wealth Funds 41.96% plus Shamsuddin group 12.07%. Total 54.03% under two substantial shareholders, where the Mabel?

I also suspect the best deal for this creditors is the preference shares to solve the outstanding debts

Good news why investors keep selling

KUALA LUMPUR: Sapura Energy Bhd was the most actively traded stock on the market today after it said it secured Petroliam Nasional Bhd's approval to sell its 50 per cent stake in SapuraOMV Upstream Sdn Bhd to TotalEnergies Holdings SAS for US$530.3 million.

Some 75.9 million shares changed hands in the first hour of trading.

The stock hit a high of 5 sen before settling at four sen.

Its 52-week high was seven sen.

In a filing with Bursa Malaysia Securities on Tuesday, the company said on June 10, 2024 it received the approval from Petronas for the change of ownership in SapuraOMV of production sharing contracts for SK310, SK408 and SB412 with effect from Jan 1, 2025

The approval states that Sapura Upstream Assets Sdn Bhd is to complete the proposed disposal simultaneously with the divestment of OMV Exploration & Production GmbH's shares in SapuraOMV to TotalEnergies no later than Dec 31, 2024.

If the transactions are not completed by the said deadline, Petronas reserves its rights to revoke the approval. Sapura Energy said any effort to continue with the proposed disposal after the deadline shall will be as a new separate transaction which shall be subjected to Petronas' written approval.

Who collected this shares today will make a fortune

If creditors accept hair cut then they can take the money to make back from some where, or they refuse and demand more then all will sink together

It is stipulated in the Approval that Sapura Upstream Assets Sdn Bhd is to complete the Proposed Disposal simultaneously with the divestment of OMV Exploration & Production GmbH’s shares in SapuraOMV to TotalEnergies Holdings SAS no later than 31 December 2024. If the transactions are not completed by the said deadline, PETRONAS reserves its rights to revoke the Approval. Any effort to continue with the Proposed Disposal after the said deadline shall be considered as a new separate transaction which shall be subjected to PETRONAS’ written approval.

It is company announcement today as my opinion that creditors may have to accept hair cut for company on going concern practice, otherwise the deal of OMV may call off under new corporate exercise arrangement.

$112 per square foot =RM144.9m
Super good profit

CDRC extended to next year means the creditors may see after the asset selling and demanded more money that turned out the deal can’t complete, perhaps MCF should ask the creditors with hair cut instead of let creditors for further demanding then only can have win win situation for the company to have future performance

Iwcity land location is not attractive at all, except build a new bridge bypass severe traffic congestion; otherwise it has no value since decades ago

Foreign broker is collecting

When u use Rakuten for your trading account, the account is under nominee name and not under your name directly. So dividend will pay to nominee, another word your share is not registered under your name in the Bursa CDS account

With the daily volume rollover increased for the past one week, any implication of good news or bad news. Is anyone know?

term loans $3.3b and sukuk program loan $7.3b should expect to be solved as MAYBANK investment bank as lead arranger in this program

Normally if you got award this kind of project, company will receive 30% down payment to carry the project. Under this scenario, 5218 will get around 2.5b+OMV2.5b+cash 1.4b=6.4b on its cash flow account to rollover operation. Very bright future

In fact UE share price is super undervalued as their land location is on the financial zone and HSR zone

cost per acre divides
Rm2,491,753,000 by 4,422 acres
= Rm563,490 per acre
=Rm$12 per square foot
Currently this area of land after conversion to industrial zone can worth more than $300++per square footer

The westport share price up to the moon when he become CFO

The latest CFO is specialist for corporate finance restructuring

-0.13 after selling OMV

Now NTA is -$0.13 instead of $-0.23. So if you can raise right issue of $0.13 per share then this counter should expect to get out of PN17 status without white knights needed

It is not true from business operation about this counter. The book order received from last quarter of 5b increased to latest announcement of 6.6b. A very impressive number. Some more the cash flow position is also equivalent to nearly $0.09 per share. So they are doing good business project and now they only need to swap the debts through regulatory channels to clean balance sheet figure as like AAX and Capital A debt swap. It takes time but any invested investors can’t wait must invest somewhere n not here

After OMV to settle part of the creditors agreement and left 8b debts according to the Edge article , within 8b debts only 4b needs for recapitalising through potentially swap shares or other capital options. The order book is increasing from 5b to 6.6b, the BIMB research house may be right of targeted share price 0.06 instead of 0.02 from RHB research house recommendation

https://theedgemalaysia.com/node/709050

The deal looked like fair price. Previous deals was US$903-$350=553, now is US$705.3-175=503.5 under desperate conditions to settle borrowings with keeping working capital around RM300m.
Now it turns out cash in the company is 1.45b+300m=1.75b equivalent to nearly $0.10 per share for the working capital

Yesterday new IPO Keyfield with only 600m book order and around 10 ships compared to Sap 6b from previous quarter 5b by increasing extra 1b order book this quarter and around 10 big ships with already fully depreciated value also can fly up to $1.95!!!

Reduced debts by $2.2b from $10b with another cash at hand $1.45b. If raise through right issue 1:1@0.40 then no more debts Am I right?

Quarterly reports will come out in the end of this month

As SinGor said it is likely to be true, profit is expected good, especially gaining from exchange rate

https://theedgemalaysia.com/node/702471

Then $903m will share between sapura energy and OMV as well loan reducing according to the percentage of joint venture

TotalEnergies paid US$903m(including loan of $350m) to OMV to acquire Sapura OMV

TotalEnergies has signed an agreement with OMV to acquire its 50% interest in Malaysian independent natural gas producer and operator SapuraOMV Upstream Sdn (SapuraOMV) for $903 million (including the transfer of a $350 million loan granted by OMV to SapuraOMV). Sapura OMV is the joint venture between Sapura Energy Berhad and OMV.

It is a deal of US $900m, not RM$900m

Nothing to do with current UEM. It is a dispute between politicians

I think SC should review PB broker license quality as they tried to misled public again n again and misled market confidence with such good management in UE after UE replaced new management