@W0099 Thank you sis Mabel for your sharing. Actually in the future when I have more experience. And I wanna to create a Vietnam team who live in Malaysia. Teach them how to invest in Vietnamese Language... :-) That time really need sis Mabel to share your knowledge to me yea! :-)) 16/01/2020 12:21 PM
Sure Wendy!
Journey of a thousand miles begins with a single step.
@TAK1 Petronas looks to be the saviour of barakah paying of its debts. Clean slate finance. 50M USD debt sapura debt 3B usd how come exim cannot reneg. Its a small debt can call in early big debt cannot do anything but reneg 17/01/2020 11:53 AM
Sapnrg can do that because of PNB backing. Barakah needs a stronger shareholders.
Hopefully Zaid can add value in this latest pursuit..
@Jmz88 I've been here since 89cent days. Yes, 0.89 not 0.089 and have been slowly averaging down. Once this resolves, the only way is up! 17/01/2020 12:53 PM
Same here being average down. Luckily mine was not as high as you..
@Mabel I'm pretty sure the latest legal developments and claims are Zaid's doing. Now Im just looking forward to Petronas response. Let's see how things develop, come May 2020.
@Jmz88... No need May 2020. I am hoping Petronas Carigali due to their arrogance, ignore the notice. In less than 21 days from today, we can then celebrate... not in price hike but the satisfaction in bringing Petronas Carigali to its knees... Cheers
@88.... remember what I commented before, if you push a dog against a wall until it cannot run, the dog will surely bite you...I think that's what Barakah is doing right now. Cheers n have a nice weekend everybody....
Let's see if Zaid has that Cloud to take it there...
PNB was heavily criticizes for giving the lowest ASB dividend in the history. Their head are now on the Chopping Board too...
They will be very very careful to invest in any company from now on. Even in Sap. That's why the PNB CEO is now on board in Sap board. I hope they will replace Sap CEO soon for non performance after 4 consecutive losses.
Back to your question, Yes I really hope this can happen as the amount is not Hugh.
Anything PNB touches goes to shit.. yes shit .. the amount of company and amount of people loss job is really big. If PNB i will try to avoid this company
PNB has a lot to lose if Sap continues the way it is. I just hope the PNB ceo placed in Sap will actually do something fast & drastic to steer away from raja shahril's current trajectory - high revenue but still lost making.
Talking about PNB buying into Barakah... one can only hope. If they buy in, for sure that the whole Petronas fiasco will be settled! After all, PNB needs their investments to start performing or heads will soon roll
PNB investment of 200M in Barakah being main contractor for sapura and serba and others fully engineering portfolio with a pipelay barge worth 100M order book 800m suspension to end by the 2022 wirh stringent cost control PNB investment is good with long tern gain within 2 years of min 10 times current value in share price. BARAKAH COST IS THE PIPELAY BARGE NOW FOR ITS DEBT. ITS ASSET IS ITS DEBT. CHARTER PRICE AND DURATION USED NOT OPTIMUM FOR DECISION MADE TO BUILD THE BARGE AT 240M WITH LOAN FROM EXIM.
BETWEEN Sept 6 and 12, notable filings on shareholder changes in companies listed on Bursa Malaysia included those at Barakah Offshore Petroleum Bhd. Its group president and CEO Nik Hamdan Daud disposed of 8.31 million shares or a 0.99% stake on the open market to rectify a shortfall in his personal margin account. He is still the largest shareholder of the offshore oil and gas service provider with 76.53 million shares or a 9.16% stake.
In July, Petroliam Nasional Bhd (Petronas) suspended a licence issued to Barakah’s unit, PBJV Group Sdn Bhd, for a three-year period over the non-performance of a contract. In response, PBJV sued the national oil company for RM1.02 billion for loss of future profits and reputation and decline in share price.
In May, Barakah slipped into Practice Note 17 status after it received a notice of demand from Export-Import Bank of Malaysia for millions in defaulted payments. Thus, it was forced to abort a debt-restructuring plan following the suspension of PBJV’s licence by Petronas. The financially distressed company has eight months to submit its new regularisation plan to the relevant authorities.
For O&G, I have also put my stake in 3 inexpensive PN17 Companies as I believe the best way to learn is to put your stakes in it.
1. Scomies 2. TH Heavy 3. Barakah
All the above are waiting for restructuring.
As I have experience in Alam and ICON, once the operators have collected enough they will push these stocks up. This is exactly happened to Armada, Velesto and KNM. Based on these experience, I'm actually not too worry about getting "Stuck" if the rewards is more than 100%.
Another example is Greatec. Many were eager to cash in at 80 plus last year. I only started to cash in when it hits 1.50, 2nd at 2.50 and i will cash the remaining when it is listed at the Main Board end of this year. Greatec hit 2.91 last Friday. It continues to be the Darling for IR4 in the Techs sectors..
If you think yourselves as an Investors, you should be prepared to HOLD and most importantly, Never use borrowed Money..
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 3157 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....
Jmz88
126 posts
Posted by Jmz88 > 2020-01-17 12:53 | Report Abuse
I've been here since 89cent days. Yes, 0.89 not 0.089 and have been slowly averaging down. Once this resolves, the only way is up!