Posted by Snapbuy > 2019-05-22 14:11 | Report Abuse

U all think Nik Hamdan and Samling group stupid? If Barakah worth to hold, why they keep selling in the market? They know Barakah is a bad ship, they already jump boat. U all still want to buy, got too much money to lose ya? I am very sure Barakah will dip to 0.005.

Posted by Snapbuy > 2019-05-22 14:13 | Report Abuse

Barakah will be another Perisai and DAYA. The price will dip to 0.005 and even delist.

Posted by InvestsucessTrader > 2019-05-22 14:16 | Report Abuse

If afraid of QR,loss, PN17,epf selling, then stop trading in stocks, Then trade in forex, no QR result,pn17 etc.

Posted by Megan88 > 2019-05-22 14:36 | Report Abuse

Shut up snapbuy.. got white knight... hahahahahahahaha

Posted by Snapbuy > 2019-05-22 15:22 | Report Abuse

Megan88, if u want go to die. I will not stop u. Buy as much as u can la. I feel very happy got players like Megan88, if not how can we make money in the stock market. ahaha.

Posted by siaoliao > 2019-05-22 15:32 | Report Abuse

hahaha i like !!!!!! we need more player

Posted by calvintaneng > 2019-05-22 15:32 | Report Abuse

White Knight is a decoy.

If true insiders should be keeping their shares

Their selling could mean a diversion to blind sorchai while they keep up selling and running away

By the time White Knite is only a fake story all will be trapped and too late

So sell and buy Uzma to recover some losses at least

Posted by BigDaddyCool > 2019-05-22 15:50 | Report Abuse

U also the same calvin sohai Ur buy call on mphbcap make me losses iheavily.Please shut up ur lanciow mouth and stop recommending ur stupid buy call stocks.The moment you open up ur mouth many have fallen for your prey.Go fly kite lah sohai!!

Posted by Chan Cy > 2019-05-22 15:50 | Report Abuse

hahaha suddenly so many so called "sifu" pop out, just ignore those sifu , they dont even know how to read the report before talking, quite funny! we've been here since few years ago , up and down, quite funny watching those sifu acting drama shows

Posted by Chunkit Yip > 2019-05-22 15:58 | Report Abuse

https://www.theedgemarkets.com/article/barakah-secures-white-knights-creditors-support

Posted by Chunkit Yip > 2019-05-22 15:59 | Report Abuse

Just wait lah....haiz

Posted by Megan88 > 2019-05-22 16:11 | Report Abuse

Snapbuy, read my previous comment from last week..

Posted by Megan88 > 2019-05-22 16:13 | Report Abuse

I'm also waiting to see who lose heavily trust about white knight fairytale.. white knight.. hahahahahaha

Posted by wendyuong > 2019-05-22 16:42 | Report Abuse

Megan88 please go to other counter and comment. This counter only for investor in Bakarah. Stranger no well come. Guard kick her out please... Hahahaha

Posted by kianweng123 > 2019-05-22 16:57 | Report Abuse

bad news out drop top up la

Posted by kianweng123 > 2019-05-22 17:00 | Report Abuse

be greedy when people afraid

Posted by Chan Cy > 2019-05-22 18:42 | Report Abuse

成功的交易者无非就是从那些痛苦的人手中便宜的买到股票，高价卖给那些贪婪的人。

Posted by Mabel > 2019-05-22 19:11 | Report Abuse

@ Chunkit Yip https://www.theedgemarkets.com/article/barakah-secures-white-knights-c...

Thanks for sharing this news CY. Just to highlight here...

Barakah shares recently sold by Nik Hamdan were absorbed in the open market. “This was forced selling by Kenanga [Investment Bank] — a small amount [of shares] every time so that the market can absorb. It was not by choice, [but] because of his margin position with Kenanga, and we don’t know at what level his margin would be settled, because that is his personal dealings.”

Those that are selling are Ex Directors. For a start I welcome the Management decision to change the CEO. That's the 1st rule of thumb. Next is to get rid all those dead meat. We need new breed that are hungry for business and as reported it is being executed as we speak.

Future business

Barakah’s order book stands at about RM600 million, consisting of five production-sharing contracts and repair and maintenance works for the Sabah-Sarawak Gas Pipeline.
Barakah has secured MCM (maintenance, construction and modification works for structures and facilities for the client’s oil and gas fields) from 5 different companies for the years 2018 to 2023.
1. Hess
2. Enquest
3. Petrofac
4. IPC (formerly Lundin)
5. Sapura

Apart from restructuring debts, which involves some RM335.6 million, Barakah is also looking for various ways to strengthen the group’s earnings.

Barakah signs MoU with Vallianz

Barakah inked a two-year MoU with Singapore Catalist Board-listed Vallianz Holdings Ltd yesterday for a strategic alliance for both parties to explore business opportunities in Malaysia and the Middle East.

Vallianz serves oil majors and national oil companies worldwide, and focuses on supporting customers’ offshore oil and gas exploration and production operations. It owns and operates a fleet of 76 offshore support vessels and covers markets in the Middle East, Asia-Pacific and Latin America.

Vallianz is 57.67%-owned by Rawabi Holding Company Ltd, a Saudi company established in 1980.

Vallianz and Barakah said by joining forces, both parties are able to leverage on each other’s strengths to expand their scope of services, technical capabilities and geographical reach along the oil and gas value chain.

Under the MoU, Barakah will offer its engineering and operational capabilities to support Vallianz’s existing and future projects.

Barakah said this includes technical consultation, feasibility studies, front-end engineering design and project engineering services, among others.

It said the project scope also covers future co-tender arrangements for offshore projects which are deemed suitable by both parties.

All these are positive news vs one tag PN17 news.

Honestly for a price tag of 0.07 per share, this is peanuts compare to what I paid earlier. Hence I plan to HOLD and like I said earlier if the price is right, I will accumulate more..

Posted by Mabel > 2019-05-22 19:14 | Report Abuse

Like I said earlier, don't sell on panic. What ever decision you take at least wait for the Q1 Report.

Posted by wendyuong > 2019-05-22 19:24 | Report Abuse

Actually Vallianz got many projects...

Posted by wendyuong > 2019-05-22 19:26 | Report Abuse

You should mention Minsheng too..l

Posted by DasWack > 2019-05-22 19:32 | Report Abuse

Hmmmm True also i see how tomolo morning sell reeneter or hold

Posted by Chunkit Yip > 2019-05-22 21:13 | Report Abuse

Someone block my sharing already,may be this news share some details and info important will distrub someone plan...ha ha

Posted by Chunkit Yip > 2019-05-22 21:20 | Report Abuse

Start from now,i just kept quiet and wait...hi who wants to sell faster.. don't waste time.. hurry!

Posted by T800Terminator > 2019-05-22 21:53 | Report Abuse

Tomorrow q at 0.05. All in. Who is with me?

Posted by Mabel > 2019-05-22 22:38 | Report Abuse

I will join you T800Terminator !

Posted by Mabel > 2019-05-22 22:49 | Report Abuse

Team,

Thanks for all your comments. I have now to put these thinking into perspective so that you all can make your own decision when the trading starts tomorrow.

Strength

1. Barakah’s order book stands at about RM600 million, consisting of five production-sharing contracts and repair and maintenance works for the Sabah-Sarawak Gas Pipeline.
2. Barakah has secured MCM (maintenance, construction and modification works for structures and facilities for the client’s oil and gas fields) from 5 different companies for the years 2018 to 2023. They are 1. Hess 2. Enquest 3. Petrofac 4. IPC (formerly Lundin) 5. Sapura
3. Two very good backers — the white knight and the creditors

Opportunities

1. Barakah inked a two-year MoU with Singapore Catalist Board-listed Vallianz Holdings Ltd yesterday for a strategic alliance for both parties to explore business opportunities in Malaysia and the Middle East. Vallianz serves oil majors and national oil companies worldwide, and focuses on supporting customers’ offshore oil and gas exploration and production operations. It owns and operates a fleet of 76 offshore support vessels and covers markets in the Middle East, Asia-Pacific and Latin America. Vallianz is 57.67%-owned by Rawabi Holding Company Ltd, a Saudi company established in 1980.
2. Barakah) has entered into a heads of agreement with Minsheng Financial Leasing Co Ltd to form a strategic partnership to explore areas of collaboration in relation to oil and gas (O&G) projects under the latter’s portfolio. With an asset size of over US$26bil as of end-2017, Minsheng is one of China’s biggest financial leasing companies with a wide portfolio covering aircraft, ships, marine engineering equipment, logistics, energy equipment, energy saving, environmental protection, medical equipment, vehicles and construction machinery.
3. Brent is up to USD 73..today and it’s on the upwards trends

Weakness

1. Restructuring debts which involves some RM335.6 million.
2. Barakah shares recently sold by Nik Hamdan were absorbed in the open market. “This was forced selling by Kenanga [Investment Bank] — a small amount [of shares] every time so that the market can absorb. It was not by choice, [but] because of his margin position with Kenanga, and we don’t know at what level his margin would be settled, because that is his personal dealings.”

Threats

1. Low shareholder's funds/equity (not making $)
2. Materials uncertainty stated in FY17 (which has not improved as of FY18Q4) - MIGHT insufficient $ to repay debt.
3. KL101 (subsidiary) defaulted on installments. Kota Laksamana 101 Ltd (KL101), has defaulted on its instalment payments to the Export-Import Bank of Malaysia Bhd (Exim Bank).

Implication to all of us

IF the news on white knight (capital injection) and collaboration with Min Sheng are true/real then the above threats should be solved.

The company is working on its debt restructuring scheme which they fairly confident can get their larger creditors' support. 75 creditors is said to agree with restructure plan

Those that are selling are Ex Directors. For a start I welcome the Management decision to change the CEO. That's the 1st rule of thumb. Next is to get rid all those dead meat. We need new breed that are hungry for business and as reported it is being executed as we speak.This work will take at least 6 months

Summing up

Based on the above analysis, I'm more inclined to HOLD until I see the official Q1 Report.

Please feel free to add/edit so that we can fine tune this analysis even further so that everyone is on the same page to make this turnaround another success story.

Have a great week everyone!

Cheers!

Mabel

Posted by calvintaneng > 2019-05-22 23:16 | Report Abuse

Great Mabel

If what you said came from official Barakah public relation officer then it will be authentic

BUT Calvin already phoned Barakah head office several times
BUT all were evasive to my phone calls

This was what happened to Namfatt years ago when I phoned up
NO body in Namfatt wants to give an answer

In the end Namfatt gone bankrupt and delisted.

Last week I visited Phuket in Thailand on a Cruise ship

I found out that tsunami hit Pang Nga Bay and killed thousands

NO WONDER

NAMFATT HAD BOUGHT 1000 ACRES OF LAND IN PANG NGA BAY

I NOW HOPE I CAN SAVE FELLO2 I3 FORUMERS THOUSANDS OR TENS OF THOUSANDS OF RINGGIT FROM BEING DESTROYED

Posted by calvintaneng > 2019-05-22 23:19 | Report Abuse

Fellow i3 forumers must decide for your selves

NO one can decide for you

Posted by Mabel > 2019-05-22 23:26 | Report Abuse

Noted Calvin

All those information are based on the press release that was shared by the team. That's why I'm more incline to HOLD until I see the official Q1 Report.

Likewise it could work both ways. Opportunity and threats are just like double swords. it's all about timing..

Happy Trading everyone!

Posted by Jason Ngan Jia Chen > 2019-05-22 23:29 | Report Abuse

Hi Mabel
Welcome to Barakah
How's your Armada?

Posted by Mabel > 2019-05-22 23:33 | Report Abuse

Thank you Jason..

Armada is as stable as a rock...still maintaining 0.19- 0.195 over the last two weeks. This month range is 0.18 - 0.285

Likewise, we are also waiting for the Q1 Reports..

Posted by Mabel > 2019-05-22 23:48 | Report Abuse

FYI it is interesting to see how these two companies will fair eventually. Both I have categories as a potential Turnaround companies.

Posted by SuperPanda > 2019-05-23 07:53 | Report Abuse

2. WHETHER THE COMPANY IS SOLVENT

After taking into consideration the Group’s current cash flow position vis-à-vis its total debt obligations payable and available cashflow, the Company is unable to declare that it is solvent pursuant to Paragraph 9.19A(4) of the Listing Requirements.

In arriving at the above, the Board has considered and assessed the financial position and consolidated projected cash flow of Barakah and formed the opinion that Barakah will not be able to service all its debts as and when they fall due in the next 12 months in its entirety.

Posted by SuperPanda > 2019-05-23 07:58 | Report Abuse

when a company projected cash flow cannot service its debt, this is a biggest problem. the white knight story is a trap for directors to dispose their shares

the risk is too high to take, do make wise decision to avoid further losses

Posted by Bug62 > 2019-05-23 08:29 | Report Abuse

Seacera said the same thing in the beginning now the story slowly changing yes?

Posted by Megan88 > 2019-05-23 08:40 | Report Abuse

Hi hi.. today open 0.065 close 0.05.. white knight.. hahahahahaha

Posted by Realistic Investor > 2019-05-23 08:44 | Report Abuse

seem like 0.05c coming.

Posted by kianweng123 > 2019-05-23 08:45 | Report Abuse

holland

Posted by Chan Cy > 2019-05-23 08:53 | Report Abuse

@kianweng123 之前我们一直在这里那些大师半个人影都没用 一宣布pn17 直接一堆大师出来！你不觉得奇怪么？你的信心去哪了？关掉电话 等一两个月 先去赚子弹！

Posted by Chan Cy > 2019-05-23 09:07 | Report Abuse

现在鳄鱼进来了 热门股了 一大堆人在0.4 0.5 买 如果delist最少还有一大堆鳄鱼一起！

Posted by Jayce Khoo > 2019-05-23 09:10 | Report Abuse

Please wake up

Posted by Brownies > 2019-05-23 09:11 | Report Abuse

**** just got real..drop to 0.05. now what? lol

Posted by Davidyeap > 2019-05-23 09:11 | Report Abuse

公司故意把坏消息放出来压低股价

Posted by Davidyeap > 2019-05-23 09:13 | Report Abuse

Kianweng123 你不够成熟

Posted by Megan88 > 2019-05-23 09:14 | Report Abuse

Davidyeap, you are back.. white knight.. hahahaha.. I bet you regret now.. hahahaha.. ask me to study more? Hahahahaha

Posted by Amar667 > 2019-05-23 09:24 | Report Abuse

Any chance rebounce to 0.10?too much to lose....hmmm

Posted by kianweng123 > 2019-05-23 09:24 | Report Abuse

我都还没卖 我已经关掉手机几天了 开盘看一下 我就关了 直到业绩报告出来先 再决定要不要加注 我要cut 的话 星期二已经cut了

Posted by kianweng123 > 2019-05-23 09:26 | Report Abuse

wait one more qr haven't come out if that come out we can top up at that time if you buy in at 0.1

Posted by pepsicola1012 > 2019-05-23 09:36 | Report Abuse

just got latest announcement from this company , stated : Financial report something like tht , please go and read . asset deficit by RM31MIL .