Whoever unable to read the announcement by themself correct, is and idxxx and deserve to lose money. I believe all here understand the status of the application lah. Why worry.

No worry, let see extension is granted or not, very soon Bursa will reply to SAP's request . No need to argue, Bursa will reply within days .either this week or early of next week.

Haha, I think the news is genuine, but read carefully, 'RHB inved...haha

@huangbk72



If this announcement is true.. Only until 2023

Bursa angry lo...
Posted by AnakUlarSawa > 1 hour ago | Report Abuse

On behalf of the Board of Directors of the Company, RHB Investment Bank Berhad wishes to announce that Bursa Malaysia Securities Berhad ("Bursa Securities") had vide its letter dated 1 November 2023 resolved to grant the Company an extension of time up to 31 December 2023 to submit its regularisation plan to the regulatory authorities.

BNM and Courts have already extend until Mar 24, so I think Bursa will just follow, extend until Mar, won't more than 4 months extension with stern warning.

The key question is the restructure plan execute and approval from creditors. Current price is support by the slow but progress structure plan, next is the sale news of SapuraOMV. Since early of the years, CEO repeated target to close the deal with creditors by end of the year. Nothing is certain.

Is beyong repair, either foreign bank or gov compromise

After submit the restructure plan, 1 year or more upon agree with regulatory for execute, the plan should be able to submit if already finalize, I guess foreign bank do not agree on the restructure.

Put aside whether should Bursa grant the extension or not, what do think if SAP bankrupt, what would be the impact, (what if)

I guess reason is simple, if you are small fish, bank will bankrupt you overnight. 10,000 staff lose their job overnight. Suppliers will never received 5 billion, 700 million worth of share will gone. Asset will sold by bank creditor.....PNB will lose 3 billio overnight....

If not mistaken, from the record, SAP always submit within a week before expired, can refer the company previous announcement, 3 years already, how Bursa respond, I bet only 3 months extension, with warning...

Application for extension submitted a month earlier before due date on 30 Dec, I guess SAP not confident and ready for appeal.

Hope to get an meaningful update on Wednesday..

Disposal of scrap drill also need EGM, selling core assets worth billion no need EGM?

Why Felix think no need EGM?

Bid due by this week, how soon they will announce the winner...next week, then will call EGM for approval?

EGM to sell the OVM stakes....when when....2023 going to end..CEO promise by year end, notifications should send in a month advance ..where where ..aiks

EGM, CEO mentioned an EGM may held in Nov or Dec.....seem like delay again? Not looking goods why no updates on the restructure plan ....

This is why restructure updates is the most important, not oil price not drill rate. Now need to wait until end of year which is the new target date from CEO. Provided extension is given by Bursa

A lot unnecessary toxic fighting here. But SAP not looking good, keep dragging won't help the situation, even with hight drill rate and good performance from subsidiaries, but is still making core loss...where is the light from tunnel CEO saw last month...no update at all on the restructure plan, this is the only thing matter. CEO mentioned EGM in Nov and Dec, going delay again?

No significant progress update on restructure, so it is doom. Seems like not able to meet Nov and Mar due date...after 3 years creditors still not willing to give way, will they able to strike a deal in 3 months unlikely.

SAP also not care, start diversment and restructure plan with or without agreement from creditors

3 years of negotiation with creditors still not able reach a principle agreement, ....seem like just waiting Gov step in
.

The CEO accepting the challenge to turn around a 15 billion debt which inheritance from the ex-CEO sharill ..he should be part of Finance Ministry department

With such terrible situation and cash trapped company still can secure billion of billion contract, cash balance also improve gradually.

The management teams have done a fantasy job, it is a role model for othe GLC company.

Look at the winding petition cases SAP receive, but the team still stay strong and stay with the company since the restructure started few years ago...

Sapura Energy’s debt restructuring efforts, which underpins its regularisation strategy, are progressing positively.

Without the principle agreemey by Nov, will Bursar accept the regulisation plan, after 2 years of extensions, would Bursar extend again...

The aforesaid extension of time is without prejudice to Bursa Securities’ right to proceed to suspend the trading of the listed securities of SEB and to de-list the Company in the event:

(i) the Company fails to submit its regularisation plan to the relevant regulatory authorities on or before 30 November 2023;

(ii) the Company fails to obtain the approval from any of the regulatory authorities necessary for the implementation of its regularisation plan; or

Risk is very high now...delisting..CEO target to close a principle deal by end of year..

No progress update on restructure...fail...delisting by end of Nov and winding petition all linining up in Mar24... it must finalize immediately and required few months to execute it

If SAP not able to submit restructure plan by the due date, it will become 0 sen and delisted, but if he manage submit, sky is the limit.

Doom is more likely, but you never know unless you are insider..any significant good news from restructure progress will send it to the moon, else....fell to hell...

Anytime from now, doom or boom, haha

@singor, u sound like the deal with creditors still far from reach!!!

Less than 5 days, QR and Restructure updates, mmmm...a bit quiet...good or no good sign....

Crazy sell emerge aheand of QR, not a good sign......

Results will be out in days and due date for restructure is close. No crazy sell from insider, good sign.

From the recent development from the current gov, seem like wanted get rid off GLC. Not surprised they just sell off Sapura to willing buyer.

Yeah loh, very soon only few trading days only until QR result and 1-Oct, if still no significant improvement on restructure progress, price may collapse, else it may skyrocket. Few days only hold your breath now temporary.

Very soon, boom or doom, who is stuped...haha very soon, let see..will it delisted or overcome the challenge. Very interesting.

Only left 1 month 3 weeks...I believe the deal has been seal at this time, getting all necessary approvals else how they going to make it!!!

Recently up around 50%, no sell down by insider should consider positive, I guess news should leak to The Edges soon in weeks

Only left 2.5 months, if EGM is required, after reduce 1 month noticefication, only left around few weeks only to finalize the restructure plan with creditors.

No crazy sell mean good news leg...

Restructure plan still need to submit by end of Nov, else delisted.

Of cause this extension allow the carry out the restructure plan without interruption.

Soon very soon, very close to due date now, no crazy sell down still got hope else bye bye.

The white knight from middle east, Im not sure but gov really simple sell cheap to middle east company, I may be wrong but I don't think so. I guess gov will stop this deal...

The moment bank wipe out the billion from o&g service eco system, what would happen to SME, bankrupt 1 by 1 la...

Just speculation, it just too big to fall, bank will suffer, but the worst are those sub contractor, and staffs...after bank monetize all the asset, nothing will left to sub contractor, staff will lose their job,

It they can't resolve PN17 then follow by 15 billion debt hair cut, they will delisted by bursar...what RI or share consolidation.
..lol

Haha, why bother about RI or consolidating share.

The imminent problem is PN17, and restructure 15 billion debt...it is really funny ....lol

From the Car industry, it become so competitive in Malaysia with the floor of china Car and EV car. I guess Bauto is downhill

No need model for Mazda, and still depend on only Hot sell cx-5, but with new X90, toggo 8 rival

Kia ....new Sorento less than 6 months from launch, now offer 8-10k discount, do you know how desperate are them...EVwill lose to Tesla Brand...

Peugeot is just dying， no need explained.

Bauto need new hot car

Yeah, insider may have start selling like crazy if no concrete deal in Sep, bursar may not extend again announced delisted date...pp will not wait until Oct to act...boom or doom in next month will reveal.

I presume SAP need EGM approval prior submission to BNM, and it it may need around 1 month noticefication. So must close the detail I Oct, insider may aware about the deal earlier perhaps in Sep. So the price in Sep will determine the fact no need waiting until Nov. NOV may have tactical retreat due profit taken or sell on News.

I guess BNM will no longer extend, if no submission by then it may delisted. Restraining order mean nothing for shareholder, but SAP still can operate without interrupt until order expired.

1 month left....boom or doom..heaven or hell

PNB consolidated automative business, left pocket to right pocket, would it do the same for oil business...

Maybe he realizes that all his comments are misleading and incorrect.... perhaps he is buying now..haha

Very soon, doom or boom, regulator loss patient. SAP started fren with minister mi isters.

CEO always said no need gov help, after dragging 2 year ++, recent interview show that CEO started the narrative how Malaysian needed SAP, how much tax they have paid, how much salary to Rakyat and how many Malaysian and Sub con needs them...

Either doom or boom, not far from now given the due date is Nov..2 months left only. Insider will always act earlier