Restraint order due in Feb, based on the last update the only pending is finalize the liabilities amount....very risky. 4 years can not finalize, seems like finalizing it is not possible unless settle at tribunal, however no tribunal allow until court order expired.

Abdul Rahman emphasised that PNB’s priority is ensuring Sapura Energy Bhd completes its debt restructuring.

PNB change direction, died died must salvage SAP

This is something expected, Petronas has awarded 5 years contract, PMX invited SAP for Brazil visit. I don't think BUrsa dare to delisted, at least non of the gov Agency dare to spoil it.

But private sector ex precisely private sector. Currently non of them can sue SAP due to restraint order, court also on SAP side. However SAP had agreed on a new term MCF entitled to enforce collect the 3 billion after 6 months in June if PRS neither sanction nor approve. SAP can consider gone case.

So many possible solution, what is SAP waiting for, just pick one and move one....

Extension from Bursa is not approved yet, it have been expired since week ago...I think all are awaiting Bursa before take move

If not approved, it will risk getting nothing, this sound best deal for supplier, however will have great impact to the supplier compare to financial creditor, I think ex CEO said will pay full to supplier is the reason of being fired by PNB

If PRS not approve, MCF will get all the 2.5 billion, if approve, then will be allocated according the PRS agreement

It seems like punish those service suppliers if they still not willing to compromise.

Only left 6 months mid of may 2025, else the MRC creditor will took all the 2.5 million and the PRS agreed on 2024 will become not valid....

Sale of OMV to be concluded on 11-Dec, goring time?

Hope you enjoy the story...haha

PRS may need to revised and vote again if the OMV sale amount taken by creditor, this may needs another few years and bursa may delisted them before that. The immediate and sudden clarification shows that the desperation of the PNB on this matter. More drama otw I speculate gov will step in.

They need to raised the stock price to meet the PRS requirements, it is obvious that ex CEO is not good on this aspect. And I guess this is the delay of the restructure despite PRS received condition signed from 75% creditor. The trigger point is the new term being accepted by SAP, MRC creditor entitle to enforce take the OMW sales money amount 3 billion 6 months after sales concluded. This is why CRO set the target must complete by mid of the 2025 given that sales of OMV will be complete by Q1 2025 which is not possible to delay further by SAP.

I speculated that extension will be granted tomorrow after clarification as per instructed.

This counter is lousy, the 10 bil debt is scary, however all should agreed that the coming ex group CEO has done a excellent job to keep the company a float without financial facility

There are close to 900 or more GLC company in Malaysia, SAP with other few are invited to National Parade, the only PN17 company received high value contract for 5 years and was invited to attend G20 by PMX....if it is lousy company, then it is the most success lousy company.

Perhaps is a show of PNB, Gov is stepping in, in the interview never mentioned gov role in the restructure, even though it is hot gossip due to the trip sponsor.

What a surprise, what next PNB fully take over?

Approval obtain from Australia authority only, so disposal of OMV is on track complete in Dec.

It is bad news for me, however the market reacted positively, no more delays?

New target date again...

In return, the government helps these companies, be it imports or exports,"

Sapura is one of the sponsor, you help me I help you strategy

The only PN17 receive contract from Petronas...this isn't against their procurement policy?

Barakah also submitted exit 17 plan recently, price went up one fold while pending approval, if Sapura do the same by end of the month?

MCF is pushing the deal as soon as possible, they will enforce collect the 3 billion if the PRS fail to get approval within the agreed time frame....

Other creditor particular non local suppliers may may raise this to court if local suppliers received payment out from the PRS scheme

After sale of SAPOWV by Q125, money received must pay to creditor base on PRS, so PRS need approval creditor, before Court convent, it needs shareholder approval on the PRS, before that it needs Busar approval the plan which contain the PRS....busy busy month ahead

2 buy as for now, BIMB and UOB, BIMB is the fan of SAP, has been call buy since 2 years and never give up. UOB is the interesting one, look back his previous report accurately point out that the earlier exit Pn17 in 2025 year ago.

However bad news is the sale of sapomv delay to next year....delay again

When you saw Sapura appears in National parade, PNB won't leave SAP behind I guess.

First buy call since it fall in PN17...sign of recovery...

Singapore court granted the gas company to challenge at arbitration, however they can't carry out now...haha deadlock

From a report, is a foreign oil and gas players challenge the proof of debt, court has granted them to challenge at arbitration...yeah seems like SAP force it through, very challenging situation

The sales of sapomv....no news so far, on track? I believe this will be the catalyst

Just wait for the news on about the restructure, green or red done not make any different for a 11 billion debt PN17

It was reported by the edge, not inside news?

MOSG asked Gav to allocated 1.5 billion in 2025 budget for Sapura restructure and pay...

Velesto not included, although it also owns by PNB...too sad lose to PN17 Sapura

It is in the group of GLC together with Duophamar, SP setia, and MNRB

Why Sapura included....lol, really not making sense while it still stick in dire situation...

The only Pn17 company in the parade, the only reason SAP was invited because the has the bigger amount of debt in Malaysia 15 billion..lol

Malaysia, both GLC and GLIC are important to ensure that economic development can be implemented in an orderly manner...sapura is one of the important GLC.

This does not guarantee the share will update, however it does show SAP playing big role in Madani economy blueprint

Surprisingly Sapura was invited in today morning national parade...a p17 and going to bankrupt corporate??

I don't think SAP dare to deceive court, the confirmation from white knight can be noted in the submission to court for extension. SAP need to submit 75% creditor support doc. You can doubt their capability to achieve it. You are st..pi if you think their announcement are fake.

2000 contractor waiting their pay cheque, SAP generated 1 billion cash balance but don't want pay them, so they should know that court will always on SAP side...

PNB continue selling...

Worst still, if this is just the beginning, loss is around 4-5 billion..

26 million is a big amount.... significant ly impact the distribution, there are other loss from this selling also like carrying cost

What if it is private fund house and execute such stunt, perhaps you will be the first to condemn and fire the CEO. If the CEO announced the losses is peanut, I believe next day will be flooded with withdrawal..

Tomorrow blood bath?

AGM around corner, however not putting mush hope on it...needs to wait for update regarding the OMV sale

SAP share price too low for them to accept, future is uncertain...just need gov step in and said will work together SAP without spending a penny..confident of creditor will regain..