kan nee na court rejected the restructuring proposal. Shit hits the fence tomorrow all the creditors confirm lai liao. wasted only my time on this. see la 2moro
Restraining order of default payment ended on Jan 14. Now time for creditors to collect their money from Barakah or they will sue in court. Otherwise PN17 will be affected.
KUALA LUMPUR (Jan 16): Barakah Offshore Petroleum Bhd’s unit has won a five-year contract to service Petrofac (Malaysia-PM304) Ltd’s oil and gas fields offshore peninsular Malaysia.
In an exchange filing today, the group said the contract, awarded to its wholly-owned subsidiary PBJV Group Sdn Bhd for the years 2018 to 2023, includes Pan Malaysian maintenance, construction and modification works for structures and facilities for the client’s oil and gas fields.
The contract's total value is not fixed and will depend on the actual scope based on work orders to be issued by the client from time to time throughout the contract duration, which is effective for five years from July 17, 2018.
Advertisement
Barakah expects the contract to contribute positively to its earnings and net assets during the period.
Yesterday, the debt-laden company announced it was still negotiating an amicable debt settlement proposal with its lenders and creditors.
That statement came after Kuala Lumpur High Court's order to restraint any proceedings and actions by the lenders against Barakah and PBJV expired on Monday. The restraining order was obtained on Oct 12 last year.
Shares in the Main Market-listed group slid half a sen lower to close at 5.5 sen today, giving the oil and gas service provider a market capitalisation of RM45.97 million.
Hello everybody here, last 5 days shares of Barakah went up from 4c to 8c. Why ? Many know the rumours of getting contract. Yesterday news out and they BUY ON RUMOURS AND SELL ON NEWS. Retailers always losers.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
boldrun88
528 posts
Posted by boldrun88 > 2019-01-04 09:40 | Report Abuse
wow...