@Raiz368, is come from waiver of debt, debt settlement.

slow and steady yea hehhehe

@Supertrader88, there are two ways for a listed company to raise fresh fund, one is via pp another is right issues. some view pp is bad because shares can be diluted. Barakah,pn17 counter so basically not in the position to talk bout share dilution. Savings life is priority for them now lol. And pp means someone still value and confident with barakah. Barakah shares volumes is not huge even after pp additional shares. If you compare sapura energy you know what I mean then.

good job barakah, creditors = settled , white knight((via PP) = to be identified
The identity of white knight is very important, personally I hope is someone BIG from serba dinamik

two things for sure, Barakah big possibility get out from pn17 soon in view of the PP, share price would definitely fly, tp for short term .16

second thing, @sheep will disappear from barakah forum quite some time again after this haha.

@prem0403 possible, if look on the trend, can expect coming days they will throw large quantity to create panic sales all the way down from retail, then collect at lower all the way up. as usual same old strategy since 90s but still work like a charm. Only applicable to possibly good news coming counter. ok place your bet.

@sheep tell something we don’t know haha. something which can open our sight. NAVPS info is everywhere ler hehehe

i see good progress over here, good job barakah for the moment. I believe there will be some adjustment on the debt settlement proposal, because during ccm meeting the terms still can be discussed. We still not sure what is the final proposal that creditors agreed on. Lets wait and see the regularize plan details from next announcement.

just a gentle reminder if next week ccm meeting fail to come out mutual agreement between creditors and barakah it would be a falling knife. The ccm meeting content can refer back to bursa announcement. Try to read and think bout it, is it possible for creditors to agree on the proposal. Unless barakah found a white knight then would be different story, yep thats a limit up. Due date submission of regularise plan is coming May, yes next month, before barakah will be suspended from trading. There is a hike in share price these days, could it be pump and dump happening? we call a a distribution process for big shark to cabut. To goreng few cents for a counter has small volume is not difficult especially. ok place your bet

ok gaisss i cabut first after holding 2 years lol, wish u luck

nope will not exit pn17 any time soon. reason being they still need 75% of creditors to buy their regularise plan for first stage, do u guys really read on the ccm meeting details? look at no.4 barakah propose to waive 225m of their debts. u must be kidding me. Don’t simply listen and believe to i3 or klse anonymous. The fastest way to get out from pn17 is acquired by someone BIG aka white knight. no other way. Due date is May.

by right barakah’s lawyer is not allow to reveal any litigation updates to public before barakah file to bursa. If the fb page is barakah official, barakah and their lawyers can be sued by investor for misleading.

relax gaisss, winning vs samling case not file to bursa yet because defendant still got 14 days to appeal. just stay tune...

@JK22, btl tu my friend, others entahler but for myself im still making good profit here. some here since 2019 many sdh profit taking smile all the way to bank. not all kena burn ler.

rsa abg zul kena hurt kaw2 sblom ni, klo x takn ari2 visit barakah...sbijik stalk profile ex die je ni. i hate chiuu i hate chiuu but my heart still got chiu. haha jkjk. i believe zul is once a supporter of barakah. sometimes love turns hate. move on je find a new gf sry i mean other counters then u will be fine.

my main concern fo barakah now is recent ccm meeting which u can see the proposed debt settlement, sry to say is just don’t work out. is good for the creditors proposed an adjournment can buy some time to nego again. but must be real quick for them to catch up deadline given by bursa.

@OkieDokie, sry bro just notice yr comment. two years back, too much uncertainties in barakah. Not only suspension from petronas, then the appearance of unknown white knight come out with lousy regularize plan, margin call disposed from nik. But their ongoing project and cash positions at that time still can keep them alive for at least a year. Not to mention retraining order that been granted for barakah continuously, Nope, I did not average down cuz my current holding is the max for me to barakah. Never put yr all eggs into one basket. 65cts is just good. Many good counters out there but definitely not like scomi. I wonder why people will put their money in scomi. If you gain some there can say is purely luck, timing ngam je nothing more.

haha yea don’t over react ler for those already take tiny profit already hoohaaa

not petronas case yea that would be full trial in june - july 2021. winning case is vs samling

long time no c gaisss hehehe, is anyone here hold since 2019 b4 suspension from petronas? im still holding 1m @ 65cts. no regrets gaisss. my tp 2 years ago 0.12 dh capai ni. Now my tp would be 0.16 for coming days. stay tune

Bursa is always there cut lost cabut take about minutes. Now definitely not the right time to throw. A year ago yes, when petronas suspend barakah, when barakah fall into pn17, when white knight lecca fall from white horse. But now lol u shall hold tight

guys don’t be disappointed, if you can invest a new project property hold 3 - 4 years for completion, then hold another few more years to assume value will go up but why not in stock trading. Disregard your property will get abandoned half way, major defects, development of the area got terminated or suspended and many many factors. Try to do comparison on the risks and commitments.

why nik dispose his shares? it is due to margin call. why margin call need to dispose? because to keep his holding he need to top additional cash. why need to top up because the value of shares drop drastically and is below broker requirement. why not nik just top up because no extra cash on hand lorr. Can try to google “margin call” to get a clearer picture.

restraining orders granted by high court again expect to fly up abit tomorrow.

@Syah919, ofcuz not a good news haha but i believe they will try get another extension from high court. Barakah had been granted restraining order since 2018. Creditors definitely not happy about it, just like individual seek help from AKPK agency which could stop bank to proceed with legal action against you.

@sirdukes u r welcome :)

@sirdukes in such case like barakah, fresh fund is needed in order to exit pn17. They need to settle creditors debts first, at least a minimum payment for further repayment arrangement? so called regularise plan. Good qr is insufficient UNLESS they boom like gloves counter where the whole world throw money at your face during this pandemic. How barakah can have fresh fund, could be right issues?(get more fund from investor like us)private placement? (interested company pump money), or acquisition. Right issues is unlikely as the current share price is too low. More new contracts is needed to keep them alive too. Good sentiment and qr will only makes them flow up n down. haha.

im still confident with barakah, my tp remain .12cts. I noticed huge volume being collected, u throw they collect, u throw they collect, been months. I can smell what the rock is cooking

barakah is still having strong cash flow of 90m. Consider steady for a tiny like barakah. Continuously granted restraining orders from creditors by high court. Actually i see there is a light in barakah. Aiyaa don’t all in la no need make life so ganjeong.

lol sorry to say crude oil up or down does not affect MUCH in barakah, not even covid19. What really can make barakah spike is depend on 3 things, operator wan goreng or not, speculation and lastly is inside news. This is pn17.

@ Newbiesky, hey yea bro hope u doing fine

lol up one day say something very positive about strategy, drop one day say something very negative about conspiracy. Then your daily life would be very emotional, up n down haha.

Haniza Binti Jaffar(Vice President -Finance & Accounts)

now we know what barakah try to tell.....hehehe

retraining order granted regularise plan being finalised = acquisition is coming , then uplift from pn17

no worry acquisition plan is cooking

congratulate to all loyal holders!
those who already breakeven wanted to secure capital, re-enter lower quantity = yes you can do so
100~200% profit taking = yes you can do so

wanted to keep for acquisition plan = yes you can do so
wanted to keep for uplift pn17 / petronas = yes you can do so

paper lost reduce but still at 30% or above = dont think you should do so

congratulate again to all armadian~~~

bumi armada, dayang, knm, sapura energy, barakah - so far 3 out of 5 rise more than 100% hehe

I still believe in barakah~~ operating cash flow is the main concern now

looking at recent bod appointment seems acquisition plan is cooking hmmm ?

armada current stage, new tp .38

guys long time no see, congratulate to those who believe and still holding armada & knm
by the way, im still holding barakah too haha

ahhh hehehe wakenabeb

@t800, nope you never learned your lesson otherwise you would never touch high gearing company like alam again. The way you comment can tell, you are not FA nor TA investor. so I guess you invest based on instincts or hearsay (try luck)

psychology proven only 2 type of reasons someone will keep monitoring specific object, which either you hate or love on it.

at barakah current price we still can see you comment which look like an advice but not that sincere and constructive, so what I assume was you did LOST some amounts in barakah this counter. hmmmm...

hmm today trading seems something is coming

possible push up for distribution to allow directors cabut
londonbisc did the same thing on 11/7 haha those who buy low dont be too greedy yea

not worry is just that quite entertaining haha. to be honest we need someone like t800 in each forum. sapura alot too crowded

@t800 comments make my day always hahaha. with your logic 14 days later from 5/8 barakah will have 1.02b lor. barakah can save himself already haha. Not bad ma once demand counter part just comply.

here we go...counter attack from petronas haha

@rmkfac100812 as usual in i3 bro haha

dont buy first... fall to pn17 soon
same directors as lonbisc

good show hehe

I think there are two main reasons why barakah issue lnod to petronas:

1) Petronas doesn't entertain barakah's appeal (nego to uplift suspension door closed - no choice, most probably they start appealling since june 2018)
On barakah stands would think that I have fulfilled your contract I didn't do anything wrong to you, why would you suspend me.
- suspend due to financially distress and your sub-cons had complained to me you did not pay them? Suspension is made based on our risk assessment.

If not mistaken there is a clause of contract acts which say something like, Petronas could not take legal action on Barakah for not paying sub-con because that is the agreement between among themselve(is third-party matter)
Only sub-con can sue barakah for the damages. (common sense?)

But here is the case, Petronas only suspend, sounds like company internal matters. (Sub-con clapping hand).

What Barakah arguing is I have done my part on time , positive appraisal was given. huh suspend me thereafter?

you might need to read back what I shared earlier:
https://www.theedgemarkets.com/article/barakah-seeks-restructure-rm726-mil-debt

2) Barakah wanted to get an extension of retraining order, to stop creditors take action against them.
No choice but to proceed legal action on petronas. So at least there is a solid justification to allow court to grant them the another extension.


As for the recent Chairman resign, he has good relationship with petronas just like adoptive father and son, current stats put him in a real dilemma position. Why would he risk himself for this sh*t, might as well he resign.

What I can say is to sue petronas is not an option. But seems the only way to open another door for discussion. Just not management to management, is a matter of both company's legal counsel now haha.

Pray hard Barakah has strong case against petronas, otherwise hmmm

Basically barakah is facing few threats, i)petronas ii)creditors iii) white knight iv) upcoming qr

we all aware that Barakah has secured few big contracts but they need to get over this asap

As for @T800 keep mentioning SAAG, i did have a look on their history and qr to be honest I have no idea why would you accumulated till 1m shares on this. Is quite different scenario from barakah. maybe you can explain to us. sorry for your lost


Anyway im still holding, those who wana place bet .4-.45 can buy bit to keep, treat it as 4D lor buy a hope haha.

cheers and enjoy your holidays guys~

8/7(after 5pm) - announcement on regularise plan, white knight revealed - lecca group
9/7(after 12.30pm) - received a notification dated 8 July 2019 of suspension of PBJV’s license from Petroliam Nasional Berhad (“Petronas”).
12/7 - announcement on CCM Meeting
31/7 - call off the meeting due to suspension letter issued by Petronas dated 8 July 2019, so cant proceed.


"In January, Petroliam Nasional Bhd (Petronas), in a letter — sighted by The Edge — cautioned that PBJV had been suspended by the national oil company since last June due to non-performance. The letter was addressed to several oil and gas players. -" 18/3/2019
https://www.theedgemarkets.com/article/barakah-seeks-restructure-rm726-mil-debt
----------------------

so after reading in sequence, what you guys think about?
my first thought is regularise plan and lecca as white knight announcement on 8/7(after 5pm). 9/7(first session) share price up then huge volume disposed. - profit taking?

9/7(after first session, 12.30pm) Announce Petronas suspension which the letter dated 8/7? - 9/7 morning or noon petronas only send in notification to barakah?

lastly, Lecca and creditors not aware about the news actually PBJV already got temporary suspended by Petronas since june 2018?

31/7 - call off, for me it seems barakah management already knew this will be outcome?

Are they buying time for good purpose or bad? no ones know but seems interesting now... haha

Anyway, this is only my assumption. and you are not holding warrant, this weeks is not the maturity date then become toilet paper. Stay calm.