Latest TP by HL analyst...
https://www.klsescreener.com/v2/news/view/1005489

Morning...tut tut

No significant support in sight... When is the bottom?

How long will support at RM1 holds? Guess the impact of minimum wage to its 22k workers will be known by next QTR?

#Azab Janda Kerepot Sapura...
"Bursa Malaysia ‘berdarah’ lagi. Bursa Malaysia mengakhiri minggu ini dengan prestasi rendah dan melepasi paras psikologi 1,500 hari ini, didorong oleh jualan berterusan secara menyeluruh, sejajar dengan prestasi bursa serantau yang lemah, kata peniaga.

Pada 5 petang, petunjuk pasaran FTSE Bursa Malaysia KLCI (FBM KLCI) ditutup rendah 15.76 mata atau 1.04 peratus kepada 1,493.95 daripada 1,509.71 pada Khamis."

That's why everyone is waiting for the big pump if it ever comes but problem is who's taking the dump? That's why it's better to cutwin rather than cutloss later on...notice that any attempts by shark to pump has always been met by profit taking by day traders...

The deferment is only for RM10.3B debts to next year. In the meantime where's the cashflow to continue as a going concern and money to pay off Bumi vendors owed another RM3.35B in trade payables who has not been paid for services rendered since 2020? For those who purchased 5sens & below, it's better to cutwin be4 you need to cutloss...otherwise how to finance the cashflow to continue betting? Otherwise could become enforced long term shareholders? Any grants from Govn maybe only to save SEB's small vendors not the elites like Shahril...even then it may only be addressed by new Govt next year?
"Its loss-making contracts were an additional burden, compounding its RM10.7 billion debt and trade payables of RM3.35 billion. Moreover, its pandemic-related expenses proved challenging to claim."

The writing's already on the wall...Sapura Holdings only left 13.5% guess they have exited earlier at higher prices...only left Bilis holding the ball at 42% with balance by PNB...even Institutional funds only holding about 2%...so what whales are there??? Only gamblers & sharks detected...

Can't compare lemon with orange. SEB defaulted debts is 10x of Serba. PNB who injected RM2.8B in 2018 has lost 90% of its capital. SEB proposed restructure will involve issue of more shares to debtors will dilute shareholders' value from current 5sens...
https://www.theedgemarkets.com/article/creditors-difficult-position-cashstrapped-sapura-energy-bites-bullet-again

There're many Rela members here doing public service :D

Zafrul & PM position also not stable with bad economy...now bz on Kuala Selangor for GE15...one wrong step...will be off with their heads...so SEB is furthest on their minds...

Actually could be planned as 42% SEB already dumped on Bilis with balance of 40% forced on PNB...if so good why Sapura Holdings only left 13% of the sinking ship...even institutional funds have dumped earlier...now only left around 2%?...

Why familiar Mua from Interpacific also here?

How come always sovereign funds like 1MDB & PNB always ends up with bad deals like this? Even Sapura Holdings only left 13% in SEB. Must have disposed earlier...even institutional funds less than 2%?

You have can use Google to find your answers...you can find some in BM here...
https://www.mstar.com.my/lokal/semasa/2014/08/08/pengurangan-saham-mas

If you look into what Bosku said in 2014 on delisting & restructure of MAS...you will know why...
https://www.nst.com.my/news/2015/09/21326/mas-be-delisted-after-us429m-offer

Just wondering what other can of worms will Rafizi dig out from SEB's mess?
"The covenant in lieu of having his shares in Sapura Energy locked up when the group re-financed its whopping RM14 bil in borrowings has enabled Shahril to rake in fat salaries amounting to RM71.92 mil in in the financial year ended Jan 31, 2018 (FYE1/2018) and RM84.24 mil in FYE1/2017.

Back then, Shahril was the single largest shareholder of Sapura Energy with a 15.9% stake. The share covenant was not stated in the annual reports."

Maybe there is profit to be made in trading SEB shares but not for benefit of minority...in order to raise funds to continue operations SEB, new CEO & Bod has the option for private placements to dilute shareholders value further e.g. if current share value is 5 to 5.5sens. SEB can issue more shares through PP with 25% discount at 3.75 to 4.12sens and sell at 5 to 5.5sens still got profit mah...

After SEB Mgt has dug it's own grave...the only way out is for PNB with 40% to buy out minority shares for a song in order to delist like MAS as a government precedent before any restructuring can be done...

Or maybe delisted then only restructure which takes time as in the case of MAS under Bosku's watch in 2014...

Why take the risk to buy at 5.5sens? When you can get it even lower still? Anyway if PNB had paid RM2.8b for 40% SEB shares in 2019...why would PNB commit more monies to a bottomless hole when it's more worthwhile for an Assets Stripper to acquire 100% of SEB for RM879M at current valuation?

It's good to give opinions on both sides of the coin in public investor forums. Only Atm there are more negatives vs positives going for SEB due to bad Mgt since 2014...Also government grants if any should be for national & public interest such as preservation of jobs n not used to pay off creditors or bail out shareholders...

Di mana dia sikuching hitam kita?
Kuching hitam yang yang seringkali tidur tak lena, hati berdebar-debar tunggu sapura janda tua menjelma bidadari?
Macam sudah terminum air ketum
Di mana dia sapura janda tua kita
Setelah nyawa bagai telur di ujung tanduk
Chan mali chan (hoi hoi)
Chan mali chan (hoi hoi)
Chan mali chan ketipung payung
Chan mali chan (hoi hoi)
Chan mali chan (hoi hoi)
Chan mali chan ketipung payung
Di mana dia kuching hitam kita
Kuching hitam yang terminum air ketum
Boleh kah sapura janda tua menjelma bidadari
Setelah nyawa bagai telur diujung tanduk...

Oh Sapura setelah kahwin di kau
Sampainya hati mu
Buatku berdebar-debar
Kemana mu akan pergi sayang?
Tidur malam ku tak menentu sejak itu
Sambil mengigau Sapura sapura selama ini
Ku takut di kau menjadi kenangan

Sapu lah air mataku sayang
Bila di kau sudah tiada
Tak sanggup rasanya ku
Berjauhan dari mu
Resah hati ku buat mu

If PP based on 6sens at 25% discount only 4.5sens...if operators sell at 5 to 5.5sens still profit mah...

7.5sen panas panas kasi habislah...

Morning...tut tut

From boom to bust
...will selling its prime assets helps??? https://www.theedgemarkets.com/article/cover-story-boom-and-bust-how-sapura-energy-got-mess-it

Morning...tut tut...just guess how low would it go????

Another bad Qtr with RM434 million loses...don't think 11sens is sustainable anymore...

Looks like many sharks kena whaled...how long will support at 8sens holds?

Lost power already...will it drop to 10sens & below?

Fintec kaki already here?
Taylor...

From previous bailouts by government is to save jobs and pacify creditors...not to save shareholders... especially majority...

More dark history of Government intervention...
https://www.nst.com.my/news/2015/09/21326/mas-be-delisted-after-us429m-offer

To know method for Government restructuring is to study history?
https://www.theedgemarkets.com/article/khazanah-pledges-support-restructuring-malaysia-airlines

Hello...tut tut

Times are tough in a Shark eat Bilis World...who will be next?
1. 287,411 individuals in Malaysia were declared bankrupt as of March 2022.

Most of them are made up of young individuals who are still working.

The Malaysian Department Insolvency told Kosmo, Selangor had the most number of cases at 71,659 followed by Kuala Lumpur with 45,630.

Afternoon...no more oomph...all gamblers are at SEB...

Morning... looks like all traders are gathered here... but where's the sharks? Tut tut

9sens soon?

Win u lose...loss you win...
https://focusmalaysia.my/sapuras-share-price-spiked-on-bail-out-hope-but-what-if-it-doesnt-happen/

When people got time to write long essays...instead of easy money...time to run...tut tut

10sens coming soon...

Sii Karim got a good deal even with forced selling of 9.66m shares at 15.8sens each...will the remaining minority also get a better deal?

Guess what kind of Grants or financial MOF could offer ailing SEB, when Govt Coffers are alnost empty...After US, PM is in Japan trying to raise funds?
"For its financial year ended January 31, 2022, Sapura Energy reported a net loss of RM8.89 billion from RM4.13 billion in revenue.

At the time, the company had RM717.75 million in liquid assets, short-term borrowings of RM10.66 billion and no long-term debt commitments. It also had accumulated losses of RM13.52 billion."

Forget SS Karim...10sens and below is not a dream for RSS anymore...

Mmmm.... let's see if bought at 4sens...8sens will be 100% gains...12sens will be 150%...16sens will be 200%...when will the music stops?

Morning...tut tut

Where's Dr. Leno miau miau?