Posted by Happy3933 > 2019-10-22 08:26 | Report Abuse

Morning @88... maybe and hopefully... cheers.

Posted by youarewelcome88 > 2019-10-22 09:14 | Report Abuse

@Happy3933... The one thing that I will find comforting if Nik were to continue buying is that he is prepared to sink or swim with us all. In other words, de-listing is a foreign word now... Cheers

Posted by Happy3933 > 2019-10-22 09:33 | Report Abuse

@88... hopefully he will buy another 40 - 50m, then we are game on..... cheers.

Posted by Chun Loke Low > 2019-10-22 11:10 | Report Abuse

Chill, 10mil shares only. Too early to make any speculation on the decision.

Posted by Jmz88 > 2019-10-22 12:22 | Report Abuse

@Happy3933... from Bursa's announcement, it seems that Nik's son bought at RM0.30 per share, not RM0.03. Something must be up!

http://www.bursamalaysia.com/market/listed-companies/company-announcements/6317409

Posted by BigPro > 2019-10-22 12:41 | Report Abuse

May be typo, should be RM0.03....

Posted by Chun Loke Low > 2019-10-22 13:31 | Report Abuse

Cannot be 0.30 lahh .. how to dispose/acquire 0.30 when the price is 0.03/0.035. Typo tu

Posted by youarewelcome88 > 2019-10-22 14:21 | Report Abuse

From the announcement, Nik now has 2 margin account with the same IB. Interesting turn of events....

Posted by Happy3933 > 2019-10-22 15:10 | Report Abuse

0.30 ??? Don't worry, coming soon... kikiki

Posted by blacksmith > 2019-10-22 15:30 | Report Abuse

Please sell some 0.03 to me

Posted by blacksmith > 2019-10-22 15:44 | Report Abuse

Okay got 0.03 at last xD

Posted by DasWack > 2019-10-22 15:44 | Report Abuse

Can la 0.03 hahahha

Posted by more_n_more > 2019-10-23 13:01 | Report Abuse

any news???

up up up ???

down down down ???

Posted by david123 > 2019-10-23 13:19 | Report Abuse

it will be up. No more down. Don't believe, you regret.

Posted by Chun Loke Low > 2019-10-23 18:56 | Report Abuse

What are the effects of loan agreement termination? Somebody mind to share?

Posted by T800Terminator > 2019-10-23 19:17 | Report Abuse

0.03 support getting weak. Next 0.025?

Posted by Happy3933 > 2019-10-23 20:44 | Report Abuse

Hahaha... like I said before, I love 0.025 !!

Posted by youarewelcome88 > 2019-10-23 20:53 | Report Abuse

@Happy3933... I am at the 2.5 sen queue since yesterday. I hope to be rewarded by the IB...

Posted by T800Terminator > 2019-10-23 21:44 | Report Abuse

Exim bank recall loan facility. How? Tomorrow 2c? No money how to operate?

Posted by Happy3933 > 2019-10-23 21:47 | Report Abuse

2sen better....can buy more.....

Posted by youarewelcome88 > 2019-10-23 22:18 | Report Abuse

The issue with Exim Bank has been in the market for a long time already. Its nothing new. I wouldn't be too concerned with this as the market has long discounted such news. @Happy3933... I will be there if it ever drops to 2.0 sen... Cheers

Posted by Happy3933 > 2019-10-23 22:23 | Report Abuse

@88...me too...no matter what others comment on Barakah, I just laughed it off, I will still believe in myself...bad news... already immune, good news...on the way... cheers to you.

Posted by Mabel > 2019-10-23 22:52 | Report Abuse

I'm actually looking forward for the New Chairman to come with a Press Statement any time soon.

would be great to get an update from him when he settle down

Posted by youarewelcome88 > 2019-10-23 23:01 | Report Abuse

@Happy3933... with the latest on Exim Bank, I had this question playing in my mind... Would Petronas want to be responsible in making a bumiputera-run O&G company going bankrupt or to guide the company to greater heights. If Petronas were to choose the former, Petronas will go down in history as the most irresponsible Government-owned oil company of the world. I am not one who believes Petronas to be that irresponsible. As a result Exim Bank action, I am of the opinion Petronas will consider urgently withdrawing the suspension against Barakah. Cheers

Posted by Happy3933 > 2019-10-24 09:24 | Report Abuse

Come on baby....2.5 n 2 sen.... please come to Papa..... waiting for you.... cheers.

Posted by more_n_more > 2019-10-24 09:42 | Report Abuse

0.025 coming ?????

or

0.055 coming ???

Posted by Happy3933 > 2019-10-24 10:17 | Report Abuse

@more n more... hahaha... I think you are right ! 0.055 coming soon.... cheers...

Posted by T800Terminator > 2019-10-24 12:22 | Report Abuse

Why you think petronas is sugar daddy to Barakah?

Posted by Mabel > 2019-10-24 13:02 | Report Abuse

3 considerations...

1. This suspension was issued post completion of the contract. The contract has been successfully carried out and completed prior to the suspension. Upon completion of the contract, positive appraisal was subsequently given by Petronas Carigali hence making the suspension unwarranted,

Read more at https://www.thestar.com.my/business/business-news/2019/08/06/barakah-sues-petronas-for-rm1bil-over-licence-suspension#00xJ86YgBhhgpDdf.99

2. Which is easier, to fight the two law suits and still risking paying more than 1 Billion Law suits with Zaid and Ziko team behind or Uplift the suspension and everyone lives happily ever and after...

3. Execution of projects to sustain operations - Order book of RM600 million provides earnings visibility up to 2023.

Posted by Mabel > 2019-10-24 13:03 | Report Abuse

4. Human factors consideration- laying off of Barakah staffs will not look good on Petronas if this suspension continue...

Posted by Mabel > 2019-10-24 13:07 | Report Abuse

This is the low hanging fruits that Barakah need to engage...

The rest such as will come naturally...

As stated above, once the suspension if up lifted...0.055 is highly possible...

Posted by Mabel > 2019-10-24 13:14 | Report Abuse

@Jmz88 @Happy3933... from Bursa's announcement, it seems that Nik's son bought at RM0.30 per share, not RM0.03. Something must be up!

http://www.bursamalaysia.com/market/listed-companies/company-announcem...
22/10/2019 12:22 PM

Istone share price took a beating yesterday when one of the Director sell her stakes. The same goes with Ikhmas and Tashin..

This development where Nik and his son is buying is positive even though it's only 10 million. It does gives me confidence to hold. It's just like General Lee of KNM and his family..

Posted by Happy3933 > 2019-10-24 13:32 | Report Abuse

Hahaha.... sugar daddy or sugar mummy ???

Posted by youarewelcome88 > 2019-10-24 14:25 | Report Abuse

@T800... Petronas, being part of the government's entity, has the responsibility to develop the O&G industry in Malaysia. It is obvious the many benefits to the country if home-grown companies are nurtured to be world's best. Reprimanding a company to the extent of seeing it going bankrupt is against such policies.

Posted by Mabel > 2019-10-25 00:44 | Report Abuse

Great guys!

Let's start to make a list while waiting for further good news...

Posted by Mabel > 2019-10-25 00:45 | Report Abuse

Let's start to make a list while waiting for further good news...


Why Barakah Suspension should be uplifted?

1. This suspension was issued post completion of the contract. The contract has been
successfully carried out and completed prior to the suspension. Upon completion of the
contract, positive appraisal was subsequently given by Petronas Carigali hence making the
suspension unwarranted

2. Which is easier?
a. To fight the two law suits and still risking paying more than 1 Billion Law suits with Zaid
and Ziko team behind or
b. Uplift the suspension and everyone lives happily ever and after.

3. Execution of projects to sustain operations - Order book of RM600 million provides earnings
visibility up to 2023.

4. Human factors consideration- laying off of Barakah staffs will not look good on Petronas if this
suspension continues.

5. Petronas, being part of the government's entity, has the responsibility to develop the O&G
industry in Malaysia. It is obvious the many benefits to the country if home-grown companies
are nurtured to be world's best. Reprimanding a company to the extent of seeing it going
bankrupt is against such policies.

Please add to the above list…

Cheers!

Posted by more_n_more > 2019-10-25 10:49 | Report Abuse

hurry hurry come 0.055

need some extra money for New year 2020

Euro trip , Barakah, bring me to Euro

Posted by youarewelcome88 > 2019-10-25 12:16 | Report Abuse

@Mabel... If I may add, I believe Petronas have never question the technical expertise of Barakah in implementing its projects. Its frustration with Barakah is strictly financials. O&G business are highly geared. This is also another reason why I find the suspension a very extreme act & unjustified. Regards

Posted by Happy3933 > 2019-10-25 13:30 | Report Abuse

Hahaha...spin doctor ka, witches ka, that I'm not sure but one thing I'm very sure is that she is one of the best around ! Cheers...

Posted by Mabel > 2019-10-25 21:18 | Report Abuse

@Happy3933 Hahaha...spin doctor ka, witches ka, that I'm not sure but one thing I'm very sure is that she is one of the best around ! Cheers...

Thanks for your confidence Happy!

Have a great weekend Ya !

Cheers!

Posted by Mabel > 2019-10-25 21:19 | Report Abuse

@ youarewelcome88 @Mabel... If I may add, I believe Petronas have never question the technical expertise of Barakah in implementing its projects. Its frustration with Barakah is strictly financials. O&G business are highly geared. This is also another reason why I find the suspension a very extreme act & unjustified. Regards
25/10/2019 12:16 PM

Noted and thanks 88!

I agree...

Posted by Mabel > 2019-10-25 21:26 | Report Abuse

@ youarewelcome88 @Happy3933... with the latest on Exim Bank, I had this question playing in my mind... Would Petronas want to be responsible in making a bumiputera-run O&G company going bankrupt or to guide the company to greater heights. If Petronas were to choose the former, Petronas will go down in history as the most irresponsible Government-owned oil company of the world. I am not one who believes Petronas to be that irresponsible. As a result Exim Bank action, I am of the opinion Petronas will consider urgently withdrawing the suspension against Barakah. Cheers
23/10/2019 11:01 PM

I agree 88

It's time for Silent Mary to make herself heard..

I would like to call Barakah Battleship as "Silent Mary". She was a Spanish Royal Navy galleon that sailed in the Caribbean during the Age of Piracy. Most notably commanded by Capitan Armando Salazar, she was the pride of the Spanish Navy and its most feared pirate-hunting ship. During one of her missions, the Silent Mary was lost in the mysterious waters of the Devil's Triangle, but after years of imprisonment she returned to the Seven Seas transformed into a terrifying spectre crewed by ghosts. Her main mission was to search the seas for pirates to destroy. Carrying one hundred cannons, crewed by well-trained sailors loyal to Spain, and captained by a decorated officer Armando Salazar, the Silent Mary was soon known as the most feared pirate-hunting ship of her time.


"Pirates had infected the seas for generations, taking the life of my father and his father before, so I vowed to end this plague once and for all. And that is what I did, I destroyed dozens of ships. The last ones joined together to try defeat me but they soon realized it was hopeless. Nothing could stop the Silent Mary."

― Captain Armando Salazar

Posted by Mabel > 2019-10-25 21:59 | Report Abuse

Thanks for your feed backs guys. Here's our revised list...

Why Barakah Suspension should be uplifted?

1. This suspension was issued post completion of the contract. The contract has been successfully carried out and completed prior to the suspension. Upon completion of the contract, positive appraisal was subsequently given by Petronas Carigali hence making the suspension unwarranted.

2. Petronas, being part of the government's entity, has the responsibility to develop the O&G industry in Malaysia. It is obvious the many benefits to the country if home-grown companies are nurtured to be world's best. Reprimanding a company to the extent of seeing it going bankrupt is against such policies. Human factors consideration- laying off of Barakah staffs will not look good on Petronas if this suspension continues.

3. O&G business are highly geared. We find this suspension is a very extreme act & unjustified as it will affect Barakah capabilities to pay with her creditors. Would Petronas want to be responsible in making a Bumiputera-run O&G company going bankrupt. If Petronas were to choose this path, Petronas will go down in history as the most irresponsible Government-owned oil company of the world. As such, we believe Petronas would not to be that irresponsible. As a result, Exim Bank action, we strongly urge Petronas to consider urgently withdrawing the suspension against Barakah.


4. By lifting the suspension, with Petronas continue guidance will enable Barakah to move forward to a greater height:
a. Focus on bidding for more projects - Estimated tender book value of RM928 million.
b. Execution of projects to sustain operations
c. Orderbook of RM600 million provides earnings visibility up to 2023.
d. Utilisation of pipe-lay barge KL101 - Currently on used by MCM contract, offshore of Terengganu
e. Collaborate with stronger companies
f. Strategic tie-up with Vallianz.
g. Collaboration with Minsheng.
h. To explore areas of collaboration.

5. Fighting the two law suits is counterproductive to both parties and still a risk to Petronas since it involves payments of more than 1 Billion Law suits with Zaid and Ziko team behind.


Please revert if you have feedback. I'm pretty sure, those that matters are reading what we are discussing here...

Cheers!

Posted by youarewelcome88 > 2019-10-25 22:37 | Report Abuse

@Mabel... Do you think it's a good idea to contact Petronas directly for their comments on the status of Barakah? It will indirectly reduce the number of assumptions we have. I will not be surprised if.... No Comment, is their reply.

Posted by Mabel > 2019-10-25 22:42 | Report Abuse

I'm not in oil and gas line so I don't have any contacts.

It would good if anyone who knows this industry can check on the status of Barakah..

What was written in the press is that the Barakah team are working on a solution to resolve this issues with who that matters.

There's an article written about this in Edge yesterday. Let me find it and posted it here shortly.

Back to what you said, I fully agree. Thsts the best way forward..

Posted by youarewelcome88 > 2019-10-25 23:39 | Report Abuse

@Mabel... Many thanks for the post. What I meant by contacting Petronas is actually writing an email to them... on behalf of the many retail shareholders of Barakah. See if they are polite enough to reply...

Posted by Mabel > 2019-10-25 23:53 | Report Abuse

OK, Now I understand...

Most likely their comments will be "No comments" as they are currently under legal case with Barakah.

The idea of writing here is for to give input to the Barakah Managements and or Petronas some ideas if they have not thought of.

I know for the facts that in Armada case, AK Team are reading the comments by the forumers in i3. I believe it's the same for KNM.

Hence I expected the same here for Barakah...

Posted by youarewelcome88 > 2019-10-26 00:01 | Report Abuse

@Mabel... This is interesting. If only the person in-charge of Barakah margin sale read whats written here too. Only then the sale execution is not strictly & blindly implemented...

Posted by Mabel > 2019-10-26 00:10 | Report Abuse

i3 is their best sources of information if they want to know what's the sentiment on the ground....we are their shareholders...

That's the first thing they have to take interest since we are part of the network that are financing their existence

Cheers!

Posted by youarewelcome88 > 2019-10-26 00:28 | Report Abuse

@Mabel... It's unfortunate that they chose to continue to work like the pre-historic dinosaur... depressing the market price in an already weak market. Good Night