"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."
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.
Alex Chan Will follow Sumatec step or not? 07/01/2020 6:25 PM
Sumatec no order booking and revenue. Just talk and talk.
Barakah has lots of order booking and revenue. They work quietly.
Here's the story..
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."
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
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."
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.
@youarewelcome88 @Mabel... Captain Mabel.. Cruising the 7 Seas in a plane!!! Or heading towards port of call to board The Silent Mary... Safe flight 07/01/2020 1:27 PM
Today it was nice to use Mabel Airlines...Air Asia...Now everyone can fly...
White knight will appear soon as negiotation in progress to restore Barakah financial problems.More than RM 800 million projects in hand.Bosku Nik have mentioned Barakah will be more aggresive to secure more projects on 2020 !
Below are all the energy stocks i bought few mths ago.All my energy stocks have done well recently.Only Barakah & Sapura havent gone up.When i buy stocks i will buy in 3 to 5 transactions , just in case if it goes down to average down share price.Never all in.Still learning how to make money !
Alam average RM 0.10
Armada average RM 0.215
Barakah i bought since RM 0.09 before PN17.Average down few times now average RM 0.0331
Knm bought since RM 0.17
Sapura average RM 0.29
Serba average RM 2.28.bonus & free warrant still holding.
Velesto average RM 0.315
Yinson sold make some profits moved fund to plantation stocks Jaya Tiasa & Tdm.
Do yr own reasearch before invest & when you have faith & understand the fundamental of the stock even a thousand of naysayers attack , it will not shake yr faith in what you invest ! Be patient on Barakah & have faith in Nik. Zaid , Zico & team ! To all Barakah Jedis.Lets huat together with Barakah !
I believe Barakah will come back. It's just a matter of when. They've been transparent and facing their current situation and woes head-on since day 1. Once Petronas case is resolved with Zaid, sure to rebound and make it even more attractive for white knights to come!
The suspension needs to be lifted before any debt restructuring plan can b implemented. No one will pump in money if they can't get job from petronas. How long can they default the loan? Any time limit given by lenders? Can declare bankruptcy ka? M not trying to badmouth this stock. I always look into worst case scenario.
@monetary...Barakah have just been legally equipped to execute the long overdue corporate exercise... after the AGM. We are just 9 days into the new year. I strongly believe it is in the works. I agree the wait is tiring... Cheers
@monetary... For its corporate exercise, I am of the opinion that Barakah is looking past the Petronas suspension issue. They have to their credit successfully completed RM4.3 billions works to date. Barakah is using its track records to speak on its behalf to the industry. They are not allowing the suspension to over-shadow its corporate turnaround. Of course the lifting of the suspension would be a big bonus. Cheers
"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."
Welcome88. U have any clue what's the rationale of the suspension? Why is it not lifted? Barakah has majority of its contracts from petronas, right? The lifting is crutial. Not a bonus. As my understanding that's the reason the previous white Knight ran away. It has good track record but not irreplaceable. Life is tough without personas especially many of its peers r in financial distress n hunger for jobs
@monetary... I don't think we would be able to know the actual reason for the suspension as they are not public information. From published materials, we can state non-payments to Barakah's sub-contractors being one. The other being the variance order (VO) whose works have been successfully completed by Barakah but Petronas has refused to pay. VO are occasionally viewed negatively by the HQ. The question that have remained in my mind that have no answer to this day is... Why the need for Petronas to issue public reprimand against Barakah to other O&G companies in the region, after having suspended Barakah for 3 years. You can see something abnormal about the whole fiasco because Petronas was not feeling satisfied even after issuing the suspension order. Having resorted to the public reprimand, Petronas is now facing a RM1.0 billion suit by Barakah.
I personally don't think Lecca can be considered a White Knight. Barakah is better off without them. The papers that Lecca proposed to issue are nothing but junks.
Long-term, it is my hope Barakah move away from Petronas. It should go regionally. Perhaps this unpleasant experience is a blessing in disguise for Barakah. Cheers
The group is not hopeful for a quick resolution to the suspension. As such, it is seeking alternative sources of income beyond Malaysia, such as in Vietnam, Brunei and Thailand where cabotage laws are less stringent.
“There are also [opportunities in] other services such as pipeline pre-commissioning, topside maintenance and repair which we can easily offer to the rest of the region while still adhering to local requirements in terms of cabotage assets,” said Nik Hamdan.
Morning @mabel n both @88....at first I thought I was planting a Papaya tree, after a short while it will start bearing fruits, now I only realized it's not a Papaya tree but a durian tree ( Black Torn ). I will have to wait a little bit longer but it's definitely worth it.... cheers and have a great weekend everyone.
just realise that Mabel is an unbelievably bold & capable collector of Bursa stks.
in fact, it looks like Mabel has managed to do the impossible !
she/he has a personal mini replica of all sectors in Bursa, namely 10 stks each in O&G, Plantations, Technology,Constructions, Property , ACE Sectors. (pardon, if i missed out some)
The amazing fact is, Mabel only came back into Bursa after Ge14 last year.
Great feat , Mabel !! Congratulations !! You are the Greatest !!
I miss you too sis Mabel. Because my portfolio all red. That’s why I’m try to focus on my property investment. But now one of my stock is at green now. That’s why I’m comeback now. :-)))
New IPO: The onshore and offshore support services provider for the O&G industry, Steel Hawk Bhd aims to list on the Ace Market!
MQ Trader 3224 views | 3 d ago
0:17
New IPO: The largest mini-market player and a leading groceries retailer in Malaysia, 99 Speed Mart Retail Holdings Bhd aims to list on the Main Market!
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....
monetary
4,447 posts
Posted by monetary > 2020-01-07 10:28 | Report Abuse
but this 1 is PN17. higher risk. buy less.