@qqq668...I also no longer see the need to sell off SapuraOMV. It's a prized-asset. More oil strikes...

@izoklse...Perhaps that's how Petronas come into the picture. Marriage is good... it places Sapura in check. Sapura can be very naughty again

I don't take the piece by S&P seriously. They are just a rating agency. Let's not loose sleep over nothing... PNB is still the main actor in the restructuring, with Corporate Debt Restructuring Committee as its main supporting actor.

@Bon88... Enjoy your brunch @dim sum. I had mine earlier. Cheers

@Bob...any disposal by a substantial shareholder must be reported. Did you read anywhere it is reported? Or did I missed it? RM200+ millions in value is almost 40% of its total shareholding!!!

@aSyntheticDick,Bum&Thief you are

@Raja138...Sapura will be much healthier financially after the restructuring. Ample working capital enables Sapura to bid & execute winning projects. The marriage will further boost Sapura. Both measures are positive for Sapura

Sapura's debt restructuring & consolidation in the O&G industry in Malaysia are 2 separate issue. Let Sapura complete it's restructuring which I hope will be completed by month's end before delving into the M&A. One by one... Like @Mabel might say Lady Sapura makes a lovely bride

@Bon88... in the US, movers of the market are known as Hedge fund. Here we call them Syndicate. Hedge fund sounds better... Cheers @Bon88

@Bob... that 10 millions @3.5 sen seller believes in you. Selling at almost it's lowest... That's your influence @Bob

Yes @Huang... there's nothing to be ashamed to lose money in the share market. Just curse yourself & learn from the experience...

I lost my bet & money in Perisai years ago. I was bought at half a send. I am not ashamed to declare I lost money in the share market. I don't find it shameful... Of course I do make money in Barakah as @Mabel.

@Bob... that is what exactly Sapura will do... Consolidation then Rights.

Sapura issued a 30-years tenure sukuk for RM7.0 billions in 2015. Since its long-term, the payback is not so urgent for this exercise.

The balance of the debts is what need attending to at this period of time. I believe by 31st May 2023 all speculations will be put to rest... Cheers

I am still hoping EPF will return as a substantial shareholder of Sapura. They had a shareholding of 13.6% back in 2016. By 2018 EPF lost all confidence & parted ways with the previous management of Sapura.

@DatoKembara... My take on why Share Consolidation or Rights Issue is No Good... It is not no good for Sapura but no good for retail traders. It's actually boils down to the 'school of thoughts'. It's a preconceived mind to always believe the market price will fall on ex-date. Thus the need to continue holding the shares further. They prefer the hit & run option in shares trading... Cheers

Perhaps it should be highlighted the role of Corporate Debt Restructuring Committee (CDRC) in Sapura's overall rescue plan. CDRC is under the preview of Bank Negara Malaysia & they guide both the distressed party & financial institutions to find the common ground without resorting to legal actions. The June deadline shows the confidence Sapura's debt woes will be resolved by then...

@DatoKembara... It definitely has been a long bumpy road taken since PNB assuming management control of Sapura. The glowing lights, are rays of a Sunrise... shining on Sapura. It's goodbye Sunset

@Mabel... Cheers & a triple Huat to you

Very soon

Sapura Energy Ver 8.8

@Bon88...back then @Mabel was already into Serba. A darling O&G company who has been awarded many projects by Petronas then. Don't expect her to know about the fraudulent accounting practice. Even Robert Kuok was caught in the Transmile case. The ending of Serba has haunted many... even to this day.

@DatoKembara... on Mabel. She's not anything close as portrayed. She's a very passionate investor. She is not selfish with her research. I dealt with her some 4-5 years back in the Barakah forum.

@Huang...I cannot agree equating price movement with credible news. Bursa is an imperfect market. I took position in Sapura simply because it has consolidated long enough & furthermore at 4 sen it is low enough. Downside movement is limited. I can also many of us here are calculated risk takers.

@Bob... The financial instruments are of face value RM1.00. Let the market determine the value by way of bidding

@Bob... Yield instruments attracts different kind of investors. Financial instruments issued by Sapura must however be attractive & underwritten, given its current poor financial state. It's debt instruments must also be independently rated...

@Bob...converting the outstanding loans to Interest-bearing Preference shares. Or underwritten Interest-bearing long-term bonds to bring the debt level to a more manageable level

The tagine used then was 'saving another Bumiputera company'. This time around too will be embraced by PMX...

@Bob...on your question regarding PNB losing control of Sapura. PNB actually never wanted Sapura. The politicians of the day forced them into it. Their average cost after the rights issue was 80 sens. See the paper loss suffered by PNB as the result of political interference...

It is amazing that the word Haircut can cause so much upset in a few. Why the need to react negatively on behalf of the creditors. Pure taboo? I only know requesting for a 'Mabel' haircut is a no-no.

@DatoKembara... Nice piece on what a turnaround company is. Cheers

@Cipta... I can be brutal in my view but nothing is fixed permanently on stones. I plan to buy some small number of shares but not at this supported level. To me the price downside is greater. Cheers

@Cipta...Please don't be emotional. Sorry to say that you don't understand what a patent means. Furthermore nobody is closing shop here. It's just your accusation. Pharmaniaga is the weakest link here. Nobody wants their sales to turn to become bad debts... Cheers

Sapura is a turnaround company... profit in the last qtr & now new oil strike. Forum participants are way ahead in seeing the new value of Sapura then the over-paid research analyst. The worst is over for Sapura...

Pharmaceutical companies are not legally bound by the Concession, only Pharmaniaga. These multi-national companies are not into Malaysia to do charity or to help Pharmaniaga to fulfil it's legal obligations. Soon, we will know the direction Pharmaniaga be taking...

Selamat Hari Raya Aidilfitri to all. Maaf Zahir & Batin... Rest well

Selamat Hari Raya Aidilfitri to all. Rest well...

By taking Boustead private & the sale of Affin Bank to the Sarawak state government , I believe LTAT have resorted to Fire Sale of its assets to trim the debt level at both Boustead & Pharmaniaga. Don't be surprised if the proceed from the fire sales will be used to re-capitalise both the companies. More fire sales will be in progress but don't expect to read about it, especially now that Boustead is going private.

@pinetree88... You are a good & bold trader. Cheers

@Mabel... You definitely have tons of (Sapura) energy in you... entertaining them. I must adopt your breakfast regime of fresh juice & omelette. It's power-packed indeed. Cheers

@RWG...Pharmaniaga is over-geared. See its Losses & Short-term financial obligations against its capital. Not forgetting it is also starring at another 1.16 millions of its vaccine expiring soon. Pharmaniaga too faces constraints to further borrowings due to BNM's rules. I would say the ultimate shareholder LTAT too hate rights issue.

@understand... Go Buy Pharmaniaga & then tell us your experience. It would be good to pick your experience. Learning experience for us all

The 10 years concession extension is the only superficial lifeline they have to show currently. The hard truth is the company needs strong financial muscles to remain a going-concern entity. Is a Rights Issue, loan stock or bonds in the pipeline? Getting the extension will see the long journey to recovery. Price-wise is anyone's guess.

@Mabel... Way to go. Still full of (Sapura) energy. Cheers

@DatoKembara...Thanks for the info. However, be mindful how it is presented. It can be unpleasant situation if your friend is considered disseminating 'insiders information'. Cheers

Yes, I too believe its a gone case. I am sorry to say this. Come next month when the suppliers received partial payment or none, it's operations will start to crumble. I doubt they have reasonable fund for its working capital. I hope I am proven wrong.

The post by gbt_9428 is either a Fake news or a Draft copy of the rationalisation scheme. Don't buy into it as it is inconclusive.

It's merely an investment decision. No bailout. It's for the Investment Committee to decide if it is time to reinstate Sapura Energy into it's portfolio. Meaningful & honourable way is through the Rights... my take, of course

Back in 2018 EPF exited Sapura, leaving the rescue to PNB. After the 30 sen Rights, PNB average holding costs was 80 sen. It was PNB's disastrous rescue. Today, Sapura is 3.5 sen & I am buying. PNB should invite EPF back & I hope EPF will have a change of heart.

Bob, you have just said buying at this level 3.5 - 4.0 sen is a Good Buy (Not Bye) despite the impending share consolidation. Right Issue will follow. To make the Rights attractive, the underwriters will have to push the price up North. What are you waiting for?

My take, I classify both of them as professional Crooks. They rip the company dry. I have no respect for them

Whoever supporting this counter is not using it's own money. At this level 30 sen I stay away...