Posted by Mabel > 2019-10-26 10:16 | Report Abuse

In Year 2014 Crude OIl Prices crashed to a low of USD27.00 & below production cost of Petronas. So no O&G jobs were given. All O&G Stocks suffered together. Those that borrowed too much sunk under water and gone bankrupt like Ezra & Swibor in Singapore. In Malaysia O&G stocks like Daya, Perisai, thheavy, Sumatec, Alam Maritin, Barakah & others crashed below 10 sen

In year 2018 with BRENT REBOUNDED TO USD71, Petronas gave jobs to many O&G companies like Dayang/Naim, Penergy & Deleum & these later gone into Bull run time

So there is a co-relationship between Brent price and Capex from PETRONAS

Low Crude price (USD 27) is below Petronas production cost = PETRONAS CUT CAPEX = O&G Suffers. Those that are depended on Petronas suffers through 2014 to early 2019.

So I recon, this stocks is not everyone . So you can expect lower volume compare to Armada, KNM and Velesto. You need to have cash to hold. No Margin call. Just buy and forget. This is definitely for long term play..

Supports is very strong at 3- 3.5 sens. If they can lift the suspension, the price will spike to at least 5.5 to 6 sens.

My expectations is we may see some results before the next QR. The maximum time I give for Barakah is until Q2 next year as I feel this is a reasonable time for them to perform.

By the end of this year if they still cannot improve, I think it's wise for the company to change the whole management team. Armada see complete improvements when they change the CEO.

See you all in next quarters

Posted by youarewelcome88 > 2019-10-26 10:33 | Report Abuse

@Mabel... My take on change of management would mean... a friendly takeover. Its definitely a good option...

Posted by Mabel > 2019-10-26 11:55 | Report Abuse

Of course that's a much better option..

Posted by more_n_more > 2019-10-29 12:17 | Report Abuse

0.025 coming

will be 0.020 ???

or 0.015 ???

Posted by pamie > 2019-10-29 13:04 | Report Abuse

Phewww. 2.5c. very2 low.

Posted by OBAMAR > 2019-10-29 13:05 | Report Abuse

Abandon ship

Posted by Happy3933 > 2019-10-29 13:45 | Report Abuse

Hahaha

Posted by youarewelcome88 > 2019-10-29 14:24 | Report Abuse

At this price level, it is always better to Buy & Forget rather than Buy & Abandon... Just hang on & see how things will develop.

Posted by more_n_more > 2019-10-29 14:48 | Report Abuse

still got hope ?

stay 0.075 long time

Posted by T800Terminator > 2019-10-29 15:13 | Report Abuse

Finally touched 0.025. Hmmmmm 0.015 Soon??

Posted by Happy3933 > 2019-10-29 15:37 | Report Abuse

Hahaha.....soon...real soon

Posted by Mabel > 2019-10-29 22:51 | Report Abuse

All this company need to do is to make an announcements on their progress. That will instills confidence.

This is pure common sense..

Most of oilgas company huge debt ,financial heavy losses ,low cashflow .

https://klse.i3investor.com/blogs/tombthieves/214176.jsp

Posted by Mabel > 2019-10-29 23:16 | Report Abuse

@more_n_more still got hope ?

stay 0.075 long time
29/10/2019 2:48 PM

Same here...

My expectations is we may see some results before the next QR. The maximum time I give for Barakah is until Q2 next year as I feel this is a reasonable time for them to perform.

Right now Barakah is placed under Category 3; Buy and Forget. For me Cut loss is no use..it's peanuts compare to my acquisition cost. In addition my other performing stocks should be able to cover for Barakah shortt comings although the margin is beyond my usual tolerance level. I have decided to treat this stock as my investment to learn what to aspect for this type of company in the future.

Anyway, it has dip to 0.025 earlier before but it spikes back to 0.03 and 0.035 after some fresh news. That seems to be the support level for the last 3 months. After this we have few more levels before hitting to the lowest level. Sumatec has reached the lowest level many times and it spikes back.

The way I look at it is people are still collecting...perhaps it could be the operator...like I said earlier we just need one good news to spike it back to an acceptable level.

The best new is the uplifting of PN17 by Petronas as it makes sense for Petronas to go on this path..

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.

Cheers!

Posted by youarewelcome88 > 2019-10-29 23:36 | Report Abuse

@Mabel... The 7th AGM is to be held soon. Perhaps its a good platform to extract vital informations from the BOD...

Posted by Chun Loke Low > 2019-10-30 01:12 | Report Abuse

I think other than (a) to (h), other points are @@! haha too much assumption/personal opinion.

Posted by Mabel > 2019-10-30 06:48 | Report Abuse

@youarewelcome88 @Mabel... The 7th AGM is to be held soon. Perhaps its a good platform to extract vital informations from the BOD...

When and where?

That will be great to get confirmation.

Posted by Mabel > 2019-10-30 06:51 | Report Abuse

@Chun Loke Low I think other than (a) to (h), other points are @@! haha too much assumption/personal opinion

Of course... Except for delisted, any other opinions are also welcome

Posted by youarewelcome88 > 2019-10-30 08:26 | Report Abuse

In drawing up 5-years or annual marketing plan, assumptions are used. Drawing up corporate exercises, assumptions are also used. In economics, assumptions are widely used. What's the setbacks in assumptions?

Posted by youarewelcome88 > 2019-10-30 08:46 | Report Abuse

@Mabel... The announcement for the 7th AGM was made on the October 17. Date & venue have yet to be announced. Cheers

Posted by Happy3933 > 2019-10-30 08:54 | Report Abuse

Good morning everybody.... hahaha.... kikikiki... cheers....

Posted by snas494 > 2019-10-30 09:46 | Report Abuse

Good morning everybody :-)

I want to whisper words of encouragement to all the brave fighters who continue their unfinished struggle.

May we all benefit greatly. KEEP ON FIGHTING !!!

“Don’t you know that there ain’t no mountain high enough. Ain’t no valley low enough, ain’t no river wide enough. To keep me from getting to you, baby”. Whatever your baby may be, it’s your goal. There may be obstacles on the way, but you can overcome them to reach that goal.

Posted by Happy3933 > 2019-10-30 09:48 | Report Abuse

@snas494...... good day to you.... cheers to you.

Posted by snas494 > 2019-10-30 10:00 | Report Abuse

“Don’t stop believing’. Hold on to the feeling'”. Remember when you started something new? How it felt? It’s not always going to be smooth, but remember what motivated you to start off".

I'm 100% sure of BARAKAH. He won't betray us all. I have made a lot of profit from it. Just for now, it needs help and confidence to keep up the thorns.

Don't be a man who destroys everyone's hopes. If we fulfill people's dreams, God will fulfill our dreams too.

Posted by snas494 > 2019-10-30 10:19 | Report Abuse

My best advice to those who are lining up to sell at 0.03, 0.035, 0.04 is to be a real fighter / investor. Let BARAKAH fly high in pursuit of dreams.

My best advice to Nik Hamdan and his colleagues at BARAKAH is to continue the fight & we will always provide strong support and it has been proven that we trust BARAKAH. So don't undermine our trust.

Posted by Chun Loke Low > 2019-10-30 10:25 | Report Abuse

Maybe I rephrase. Those are crap not analysis hahahaa. I meant... it's not a strong point. Social responsibility/reputation bla3 don't matter at all to Petronas lahh come on. It's a government-linked company, monopoly, that we're talking about.

But if anything,
"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."
This is what makes more sense.

These are future prospects:
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.

"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."
- If Petronas wanna F up with Barakah and proceed with the lawsuits, who do you think die first? Cashless dying Barakah or Monopoly Petronas? Legal proceedings doesn't cost anything else? Legal costs + debt bruhh.
- But 1 positive assumption can be drawn based on the recent changes in BOD/Directorship is that they're employing "experienced professionals" to look into the suspension.

Finally, if anyone is expecting Nik Hamdan could do something to revive the company, I can pretty much tell he's not even that capable. Just look through the past 3 - 5 years news then you know. But of course, during barakah's peak period, the oil price was F high.

Posted by youarewelcome88 > 2019-10-30 10:58 | Report Abuse

@Chun Loke Low... At long last your thoughts. I3 forum is for friendly exchange of opinions. Yours.. don't deserve any reply.

Posted by Chun Loke Low > 2019-10-30 11:30 | Report Abuse

Surely I'm not expecting anymore crap from you. Can't even come out with better point and analysis lmao

Posted by Mabel > 2019-10-30 11:37 | Report Abuse

@snas494 My best advice to those who are lining up to sell at 0.03, 0.035, 0.04 is to be a real fighter / investor. Let BARAKAH fly high in pursuit of dreams.

My best advice to Nik Hamdan and his colleagues at BARAKAH is to continue the fight & we will always provide strong support and it has been proven that we trust BARAKAH. So don't undermine our trust.

Touche snas494...

Nothing is loss until we sell. Sumatec is a good case. It's still trading today despite no revenue. Barakah still have revenue...

@Chun Loke Low.. But if anything,
"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."

This is what makes more sense.

These are future prospects:
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.

"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."
- If Petronas wanna F up with Barakah and proceed with the lawsuits, who do you think die first? Cashless dying Barakah or Monopoly Petronas? Legal proceedings doesn't cost anything else? Legal costs + debt bruhh.
- But 1 positive assumption can be drawn based on the recent changes in BOD/Directorship is that they're employing "experienced professionals" to look into the suspension.

I would say that all these are for the worst case scenarios

All the other assumptions in addition to the above pave way for the Best Case Scenarios...

I agree your comment on Nik. The only reason he's back is because he knows the business. What they could have done is to put him as an advisor. They need a new CEO who is more hungry and are willing to Steer back the ship from the rough water just like what happened in Armada.

Getting out of PN 17 should be Barakah No 1 Priority. Winning Petronas's confidence to uplift the suspension should be high up in the agenda. If this can be done, half of the battle is Won. Brent will be quite steady until the Nov US Presidential election.

So they have some window to make this happen..

Posted by Happy3933 > 2019-10-30 11:59 | Report Abuse

Hahaha.... Chill guys....I really like the song " Don't Stop Believing " by Journey...... cheers.

Posted by youarewelcome88 > 2019-10-30 19:02 | Report Abuse

@Mabel... They have announced the AGM is December 30. You can see the announcement today. Cheers

Posted by blacksmith > 2019-10-30 23:31 | Report Abuse

Nik or his son start buying back the shares?

Posted by Mabel > 2019-10-31 19:28 | Report Abuse

Yes...

Posted by Mabel > 2019-10-31 19:29 | Report Abuse

Today is good with 83% buying rates...

Posted by Chun Loke Low > 2019-10-31 21:25 | Report Abuse

Seems quite a number of shares held by operators

Posted by investortrader88 > 2019-11-01 07:07 | Report Abuse

https://www.theedgemarkets.com/article/barakahs-independent-auditor-issues-disclaimer-opinion-fy19-accounts

Posted by Mabel > 2019-11-01 09:11 | Report Abuse

Thanks for sharing investortrader88!

Happy that you are investing in 18 stocks in KLSE is encouraging. Well done !

Posted by Mabel > 2019-11-01 09:12 | Report Abuse

Today even Sumatec is 2nd most heavily traded stocks in KLSE...

Very encouraging...

Posted by Mabel > 2019-11-01 09:20 | Report Abuse

Indeed Chun...

Posted by Jeffreyteck > 2019-11-01 09:38 | Report Abuse

No idea who will award contract to such a company if base on tender? Best for speculation only as fundamentals are missing.

Posted by Mabel > 2019-11-01 09:41 | Report Abuse

If you are refering to Sumatec ...Yes...

Barakah...we just need to wait for the suspension to be uplifted...

Posted by investortrader88 > 2019-11-01 14:14 | Report Abuse

@ Mabel.tks.just trying my luck.hope everyone make big money on Barakah !

Posted by Mabel > 2019-11-01 16:59 | Report Abuse

Today's buying volume is 99%...

Posted by Mabel > 2019-11-01 23:24 | Report Abuse

Cheers investortrader88 !

Posted by Mabel > 2019-11-02 23:49 | Report Abuse

Why should investors return in November? There are four core reason to this.

Firstly, we have the traditional window-dressing activities, which tends to see some sort of buying interest among fundamentally beaten down stocks. This happens among stocks which are widely held by institutional shareholders and are significantly lower in value than the start of the year and hence some sort of buying momentum could help fund managers to make their year-to-date performance “much better” and reflect the index’s performance.

Second, we are in the midst of the Q3 reporting season and by the end of November, all companies, especially with the December year-end, would report their bottom line numbers in terms of their performance. While Q3 earnings could dictate market’s reaction, i.e. if the reported profits are either above or below estimate, what typically happens at the end of the Q3 period is the change in broking firm’s valuation matrix.

Analysts would roll-over their fair values of the stocks under their coverage based on the next year’s earnings expectations, i.e. next year’s full year earnings forecast will now come into play instead of the 2019 performance. This typically lifts market’s perception on value as companies that are valued based on one-year forward earnings are likely to be more attractive than current year’s earnings, on the assumption that growth trajectory is still intact or improving.
Third, as we usher in the year 2020, the January effect will come into the picture as investors will start to nimble and re-adjust their portfolio for next year’s market’s theme as well as re-positioning on stocks where some fund managers could have locked-in their gains based on this year’s individual stock’s performance.

Fourth, although this is not a typical strategy but markets tend to have a positive momentum going into the Lunar New Year, which is celebrated as early as Jan 25 next year, just one month after Christmas, and not more than three weeks into the trading cycle of the Gregorian New Year.

Hence, with four positive catalysts helping sentiment, perhaps it’s an opportune time to look at the potential beneficiaries of this momentum.

As far as 2019 is concerned, the KLCI is not a benchmark that had performed well but the overall market sentiment was not too bad. We had very strong winners in 2019 among the oil and gas companies, driven by sentiment and contract awards.

Posted by Happy3933 > 2019-11-04 09:24 | Report Abuse

Finally got a bit @0.025...yes yes yes... cheers

Posted by Mabel > 2019-11-04 12:29 | Report Abuse

Great Happy !

This week quite a number of PN17 companies are in the most active volume...

I'm just waiting for some good news to see this counter will spike again..

Posted by investortrader88 > 2019-11-04 20:24 | Report Abuse

@Happy3933.so lucky u hit jackpot 0.025.hahaha

Posted by Happy3933 > 2019-11-04 20:29 | Report Abuse

@investortrader 88....got a bit only la... hahaha cheers to you n Mabel. By the way, @ welcome 88, where are you ????

Posted by T800Terminator > 2019-11-04 20:39 | Report Abuse

Wah.....another sumatec in the making.

Posted by Mabel > 2019-11-04 21:50 | Report Abuse

The Board wishes to inform that there is no major development to the status of default in payment of the loan facility as at the date of this announcement. The Board is still in the midst of formulating a plan to regularise its financial conditions that will include proposals to address this default.


Further announcement will be made as and when necessary to Bursa Securities with regards to the development of the above matter.


This announcement is dated 1 November 2019.