BARAKAH OFFSHORE PETROLEUM BHD

KLSE (MYR): BARAKAH (7251)

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Last Price

0.025

Today's Change

0.00 (0.00%)

Day's Change

0.025 - 0.025

Trading Volume

30,000


20 people like this.

16,148 comment(s). Last comment by MPREBA84 1 week ago

suprnoob

1,067 posts

Posted by suprnoob > 2021-09-30 14:27 | Report Abuse

waiver of debt settlement painted nice picture on qr profit....heeeeeee......

Raiz368

1,244 posts

Posted by Raiz368 > 2021-09-30 14:32 | Report Abuse

Consider company get moratorium up to 6 mths...so the debt still accumulate

ubaid2020

51 posts

Posted by ubaid2020 > 2021-10-01 15:51 | Report Abuse

Good buying...afternoon session

Pang75

172 posts

Posted by Pang75 > 2021-10-15 09:50 | Report Abuse

Something is coming

Skng Keong

1,256 posts

Posted by Skng Keong > 2021-10-15 10:05 | Report Abuse

Maket r bad is got profit run.....

ubaid2020

51 posts

Posted by ubaid2020 > 2021-10-15 12:40 | Report Abuse

Hold and wait until November 17

Sumalia

349 posts

Posted by Sumalia > 2021-10-15 13:33 | Report Abuse

Will buy if can sustain 0.125 and above lo .. now this range trap beware …

SNAS

32 posts

Posted by SNAS > 2021-10-15 13:49 | Report Abuse

Buy now, before it's too late! The bullet train will depart soon...i bought 1 million @ 0.025 , my TP 0.2

ubaid2020

51 posts

Posted by ubaid2020 > 2021-10-15 13:53 | Report Abuse

You are lucky...1m unit or lot

SNAS

32 posts

Posted by SNAS > 2021-10-15 14:03 | Report Abuse

i'm very lucky because i fully believe this counter will fly high.... 1M unit

ubaid2020

51 posts

Posted by ubaid2020 > 2021-10-15 15:38 | Report Abuse

Touch 0.10c..wait n see

ubaid2020

51 posts

Posted by ubaid2020 > 2021-10-19 10:18 | Report Abuse

Where is the direction Barakah???

Sumalia

349 posts

Posted by Sumalia > 2021-10-21 11:32 | Report Abuse

Your sonnner is how long ?? Xleh naik kasi turun lah

ubaid2020

51 posts

Posted by ubaid2020 > 2021-10-22 11:08 | Report Abuse

Tak nak turin..any good news???

Slumberjer

123 posts

Posted by Slumberjer > 2021-10-22 19:34 | Report Abuse

Ubaid if i told you oso Sumalia will sarcasm me hahaha so better we chill and let the counter be whatever it supposed

Kotaro

13 posts

Posted by Kotaro > 2021-10-27 22:54 | Report Abuse

Pan M'sia RM2.1b.. ready-to-eat slice of heaven.. Sapura, Barakah, Alam Maritim..

Posted by leeziichia > 2021-10-28 17:06 | Report Abuse

thinking to buy at SAP..so cheap meh

Kotaro

13 posts

Posted by Kotaro > 2021-10-30 11:45 | Report Abuse

Read full report from here:

https://www.bursamalaysia.com/market_information/announcements/company...

Kotaro

13 posts

Posted by Kotaro > 2021-10-30 11:51 | Report Abuse

The Company have implemented the following initiatives to address the going concern matter:

On 5 April 2021, PBJV has conducted Court Convened Meeting of Scheme Creditors as part of the Group’s initiative to regularise the operations. The proposed debt settlement has been agreed by the requisite majority of 75% of the respective class of creditors. As at the date of the AFS, PBJV has fully paid the agreed settlement sum.

On 26 July 2021, the Company and KL101 Ltd entered into a settlement agreement with the licensed bank whereby a final registered negotiated settlement of USD12.650 million to be paid over 11 quarterly instalments of USD0.138 million and a final instalment of USD11.138 million.

On 7 October 2021, the Company has completed the listing and quotation of 167,157,000 shares pursuant to private placement for total proceeds of RM9.912 million.

The ability of the Group and of the Company to continue as going concerns is also dependent on the approval of the regularisation plan by Bursa Securities, successful and timely implementation of the regularisation plan to attain sustainable operations, continuous support from its creditors and lender and favourable outcome from the material litigations as disclosed in Note 28 to the AFS.


The Company is currently formulating a plan to regularise financial conditions to uplift the Group from the PN17 status which is due for submission on 17 November 2021.

Kotaro

13 posts

Posted by Kotaro > 2021-10-30 12:23 | Report Abuse

@topkek you can read full report + download the annual financial statement (pdf file) from bursa malaysia announcement details.. the one posted by the edge markets was not fully thought through..

p/s: exit PN17 soon???

ubaid2020

51 posts

Posted by ubaid2020 > 2021-10-30 12:28 | Report Abuse

Guys, simple conclusion...it's ok or not.

Posted by mosalahmobetul > 2021-10-30 14:19 | Report Abuse

the qualified opinion is regarding on ongoing issue from 2019 right? it is already known concerns which is related to PN17., really curious to know how thr price gonna move this monday... any thought guys?

anaktodak

90 posts

Posted by anaktodak > 2021-11-03 17:08 | Report Abuse

here with PN17 story since 2018.. still keep this barakah ticket "buy and forget"

MPREBA84

11 posts

Posted by MPREBA84 > 2021-11-09 07:03 | Report Abuse

Barakah Offshore partners NazCo to provide specialised tankage fabrication and installation services https://www.klsescreener.com/v2/news/view/906265

SNAS

32 posts

Posted by SNAS > 2021-11-09 07:51 | Report Abuse

Barakah Offshore partners NazCo to provide specialised tankage fabrication and installation services https://www.theedgemarkets.com/article/barakah-offshore-partners-nazco...

Slumberjer

123 posts

Posted by Slumberjer > 2021-11-13 21:08 | Report Abuse

Time for collection

Sumalia

349 posts

Posted by Sumalia > 2021-11-16 14:26 | Report Abuse

LMAO

MPREBA84

11 posts

Posted by MPREBA84 > 2021-11-18 12:32 | Report Abuse

No news after NOV17?

Kotaro

13 posts

Posted by Kotaro > 2021-11-29 20:44 | Report Abuse

1Q net profit 92.985 million

SNAS

32 posts

Posted by SNAS > 2021-11-29 23:14 | Report Abuse

Barakah Offshore returns to the black in 1Q with nearly RM93 mil net profit

SNAS

32 posts

Posted by SNAS > 2021-11-29 23:14 | Report Abuse

KUALA LUMPUR (Nov 29): Barakah Offshore Petroleum Bhd returned to the black with a net profit of RM92.99 million in the first quarter ended Sept 30, 2021 (1Q FY2022) from a net loss of RM2.94 million in the same period last year, attributable to owners of the company.

Revenue, however, shrank to RM17.54 million from RM32.63 million previously, mainly due to fewer projects carried out during the quarter under review.

The Practice Note 17 (PN17) oil and gas company said it reported revenue of RM17.54 million generated from its pipeline and commissioning services segment in 1Q FY2022 from RM31.6 million in 1Q FY2021.

“This was due to fewer work orders received from Pan Malaysia maintenance, construction and modification works from clients during the current financial quarter,” it said.

The group said no revenue has been generated from its installation and construction services business in 1Q FY2022.

Moving forward, Barakah expressed confidence that there are still project opportunities deployed by project owners and main contractors around the Asian region.

“The group will continue pursuing opportunities, and with the group capabilities and proven track record, there is a good chance and prospect to secure the opportunities available,” it said.

Barakah added that the group would continue enhancing its operational efficiency of existing projects and cost reduction to improve profit margins thus ensuring the sustainability of its business.

“Meanwhile, the group is currently formulating a plan to regularise its financial conditions to uplift from the PN17 status,” it said.

Posted by Hew Kiong Peng George > 2021-11-30 06:49 | Report Abuse

goreng high today

MPREBA84

11 posts

Posted by MPREBA84 > 2021-12-22 12:35 | Report Abuse

Agm today…

Kotaro

13 posts

Posted by Kotaro > 2022-01-03 22:36 | Report Abuse

Reference is made to the announcement made by Barakah Offshore Petroleum Berhad ("the Company") on 10 September 2021 ("Announcement") in relation to the Adjudication Claim that had been served against Enquest Petroleum Production Malaysia Ltd (“ENQUEST”) by its wholly-owned subsidiary, PBJV Group Sdn Bhd (“PBJV”) on 6 September 2021 through ENQUEST’s appointed solicitors for the total sum of RM73,570,587.19 (“Outstanding Sum”). Unless stated otherwise, definitions used in this announcement shall carry the same meanings as defined in the Announcement.
 
The Company wishes to inform that in relation to the Announcement, PBJV have, on 3 January 2022, been notified by its solicitors that the Adjudicator has determined and delivered his Decision in favour of PBJV on 29 December 2021, breakdown of which are as follows:-
 
(a)     ENQUEST (“Respondent”) shall pay to PBJV (“Claimant”) the sum of RM71,567,429.55 (“Adjudicated Sum”); and
(b)    The adjudicated sum shall be paid on or before 28 January 2022 (“the Due Date”);
(c)     Interest at a rate of 5% per annum on the Adjudicated Sum calculated from the Due Date until full payment; and
(d)    Costs of the adjudication proceedings of RM154,995.69.
 
The adjudication Decision is subject to further legal proceedings. Therefore, the Company will make the appropriate announcements to Bursa Malaysia as and when there are material developments in relation thereof.
 
This announcement is dated 3 January 2022.

dblend

12 posts

Posted by dblend > 2022-01-07 12:17 | Report Abuse

GOGO

AbuN

23 posts

Posted by AbuN > 2022-01-07 12:23 | Report Abuse

bape boleh pegi ni 0.13 ?.

Slumberjer

123 posts

Posted by Slumberjer > 2022-01-08 07:29 | Report Abuse

15 sen

Posted by AlexChiaWS > 2022-01-17 01:04 | Report Abuse

Lets go Barakah. Lets go to Golok.来 来 了
First stop 0.180
Golok still far far

MatDangz

96 posts

Posted by MatDangz > 2022-04-28 21:19 | Report Abuse

PN17 can raise right issue kah? Sorry tanya coz xtau

Kotaro

13 posts

Posted by Kotaro > 2 months ago | Report Abuse

Regularisation plan submitted on 28 April 2022.. waiting for next week result.. if get 6 months extension until Nov 2022, share price will go up simultaneously.. next is EQ RM71,567,429.55 and the Hearing is fixed on 1 June 2022.. if the result in favour of Bara, then again share price will go up.. Petnas license suspended until July 2022, if can get back the license then the share price will go up again and again and again.. for me, this is the right time to acquire the share.. * just my 3 cents

Icon 888

1,511 posts

Posted by Icon 888 > 2 months ago | Report Abuse

Petronas ban barakah

MPREBA84

11 posts

Posted by MPREBA84 > 2 months ago | Report Abuse

No any news after 28th April already .
Any idea what’s the outcome from 1st June Hearing ?

MPREBA84

11 posts

Posted by MPREBA84 > 1 week ago | Report Abuse

After so long , up 1 cents ..

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