Posted by acinanatucer > 2020-01-30 13:44 | Report Abuse

O&G Decommissioning Mart to See High Capex

https://klse.i3investor.com/blogs/ongmy/2020-01-30-story-h1482986111-O_G_Decommissioning_Mart_to_See_High_Capex.jsp

Posted by Mabel > 2020-01-31 08:08 | Report Abuse

Barakah Offshore Petroleum Bhd has issued a statutory notice on 16th January, 2020 against its client Petronas Carigali Sdn Bhd to claim RM477,467.37, in relation to work done by Barakah's unit in August 2016. The contract includes the provision of underwater services to Petronas Carigali, Petroliam Nasional Bhd's (Petronas') exploration arm. (The Edge Daily)

Posted by kenul80 > 2020-01-31 11:59 | Report Abuse

@Mabel, any idea when probably the due date for Petronas to respond? or it's consider need to bring it to court for settlement?

Posted by Jmz88 > 2020-01-31 12:22 | Report Abuse

Petronas has to respond by early Feb if they want to keep things out of court - read announcement from bursa website

Posted by Godofgambler > 2020-01-31 14:00 | Report Abuse

Wow good news

Posted by kenul80 > 2020-01-31 14:39 | Report Abuse

@Jmz88, thanks and let wait for the good news.

Posted by youarewelcome88 > 2020-01-31 15:56 | Report Abuse

If my memory is right, it's Feb 6... Cheers

Posted by Machho > 2020-01-31 15:59 | Report Abuse

Meow meow meow

Posted by Machho > 2020-01-31 15:59 | Report Abuse

Zaid vs petronas meow meow meow

Posted by Machho > 2020-01-31 16:17 | Report Abuse

Price should be at the bottom now, but seen no people wish to collect, nobody believe or make sense with dato zaid?

Posted by Jmz88 > 2020-01-31 16:23 | Report Abuse

In fact, there was a follow-up to the suit on 20th Jan demanding Petronas to pay up RM118k+ out of the RM477k+ since it's viewed as debt without legal dispute.

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3017529

Can see that Barakah is not just standing around

Posted by Godofgambler > 2020-01-31 22:30 | Report Abuse

Hopefully barakah really barakah

Posted by Mabel > 2020-02-01 01:26 | Report Abuse

Thanks for sharing. Good development...

Posted by Mabel > 2020-02-01 01:28 | Report Abuse

I'm please there's a lot of calmness in this team. This is another great development..

If you are experiencing euphoria and disappointment in trading, it means you are gambling

So I recon this team really knows what we are up to..

Meow!

Posted by Godofgambler > 2020-02-01 21:20 | Report Abuse

Good news coming

Posted by Machho > 2020-02-02 00:52 | Report Abuse

Sometime no news is better than many news

Posted by Godofgambler > 2020-02-02 16:28 | Report Abuse

Haha

Posted by Godofgambler > 2020-02-02 16:33 | Report Abuse

Mabel i hope this barakah wont end up like sumatec or perisai...
End up like thheavy already hemsem

Posted by Mabel > 2020-02-03 00:00 | Report Abuse

Indeed...

Sumatec has no revenue.

Perisai made a heavy investment on offshore drilling to its OSV business, which later also suffered a massive oversupply. The timing was bad and never able to recover.

Barakah has revenue and order booked

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.

Last Friday more than 80% KLSE Stocks are in RED.

Barakah is still GREEN

Meow..

Posted by Godofgambler > 2020-02-03 08:06 | Report Abuse

Sounds cool... Should pump in more

Posted by Godofgambler > 2020-02-03 10:34 | Report Abuse

Something cooking...
Hope sharkfin soup on the way...

Posted by DickyMe > 2020-02-03 10:35 |

Post removed.Why?

Posted by Godofgambler > 2020-02-03 11:03 | Report Abuse

8 darm good reasons wont delisted.

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

Posted by Jmz88 > 2020-02-03 11:55 | Report Abuse

@Godofgambler don't forget to add:

i. Actively disputing & taking legal action against Petronas lead by Zaid.

Posted by TAK1 > 2020-02-03 15:15 | Report Abuse

Barakah is trying to show all the f%uckup done by petronas operation reason for delay and cost overrun via the suit.

Posted by Godofgambler > 2020-02-03 17:03 | Report Abuse

I wonder why petromas have to do this..
Hello orang cari makan aje...
Jangan kasi mangkuk nasi tumpah..
Binatang pun ada rasa simpati...

Posted by Godofgambler > 2020-02-03 17:04 | Report Abuse

Meow meow

Posted by Happy3933 > 2020-02-03 17:18 | Report Abuse

Always delisting soon....how soon ? Tomorrow ? End of the year or next 10 years ???? Meow meow meow...

Posted by Tva17 > 2020-02-03 19:06 | Report Abuse

The Board of Directors wishes to inform that the Company is in the midst of formulating a plan to regularise its financial conditions (“Regularisation Plan”). The Company has approximately three (3) months to submit its Regularisation Plan to the relevant authorities for approval.

Another 3 months, let's wait...

Posted by Godofgambler > 2020-02-03 20:07 | Report Abuse

Tva17 means when the date line?

Posted by Tva17 > 2020-02-03 20:42 | Report Abuse

Couldn't find exact date... Announced approximately 3 months only

Posted by Mabel > 2020-02-03 22:34 | Report Abuse

@Godofgambler 8 darm good reasons wont delisted.

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
03/02/2020 11:03 AM

Let's include Jmz88's suggestion.

10 Darn Good Reason why Barakah will not be delisted.

1. Focus on bidding for more projects - Estimated tender book value of RM928 million.
2. Execution of projects to sustain operations
3 Orderbook of RM600 million provides earnings visibility up to 2023.
4. Utilisation of pipe-lay barge KL101 - Currently on used by MCM contract, offshore of Terengganu
5. Collaborate with stronger companies
6. Strategic tie-up with Vallianz.
7. Collaboration with Minsheng.
8. To explore areas of collaboration
9. Actively disputing & taking legal action against Petronas lead by Chairman Zaid - RM1.02 billion demand against Petronas Carigali in August 2019.
10. Actively disputing & taking legal action against Petronas lead by Chairman Zaid - RM179.84 million from Petronas Gas Bhd, in relation to the procurement, construction and commissioning of Pengerang Gas Pipeline Project (formerly RGT2 Pipeline project).

Meow...

Posted by Michael Kwok > 2020-02-03 23:05 | Report Abuse

Come to buy Benalec.Less risk.Price 13.5 cents.NTA 71 cent.Good future.Near Singapore.Involve in land reclamation and .....Not PN 17 company.Buy at least Rm 10k.Wait for 2 quarter(6 months).Ong will mari.

Posted by Michael Kwok > 2020-02-03 23:09 | Report Abuse

Price:12.5 cents for Benalec. Not 13.5 cents.Error.
Michael Kwok
1294 posts
Posted by Michael Kwok > Feb 3, 2020 11:05 PM | Report Abuse X

Come to buy Benalec.Less risk.Price 13.5 cents.NTA 71 cent.Good future.Near Singapore.Involve in land reclamation and .....Not PN 17 company.Buy at least Rm 10k.Wait for 2 quarter(6 months).Ong will mari.

Posted by Mabel > 2020-02-04 11:13 | Report Abuse

10 Darn Good Reason why Barakah will not be delisted.

1. Focus on bidding for more projects - Estimated tender book value of RM928 million.
2. Execution of projects to sustain operations
3 Orderbook of RM600 million provides earnings visibility up to 2023.
4. Utilisation of pipe-lay barge KL101 - Currently on used by MCM contract, offshore of Terengganu
5. Collaborate with stronger companies
6. Strategic tie-up with Vallianz.
7. Collaboration with Minsheng.
8. To explore areas of collaboration
9. Actively disputing & taking legal action against Petronas lead by Chairman Zaid - RM1.02 billion demand against Petronas Carigali in August 2019.
10. Actively disputing & taking legal action against Petronas lead by Chairman Zaid - RM179.84 million from Petronas Gas Bhd, in relation to the procurement, construction and commissioning of Pengerang Gas Pipeline Project (formerly RGT2 Pipeline project).

Meow...

Posted by Jmz88 > 2020-02-04 11:27 | Report Abuse

Besides @Mabels' list, another positive to me for Barakah to get out of PN17, just my 2cents, is that we (market) has clear visibility that Barakah is actively working on improving their financials and business prospects.

Unlike e.g. Perisai who were pretty much silent the whole time and only action was to keep asking for extensions with no clear business restructure plan.

Posted by Mabel > 2020-02-04 12:53 | Report Abuse

11 Darn Good Reason why Barakah will not be delisted.

1. Focus on bidding for more projects - Estimated tender book value of RM928 million.
2. Execution of projects to sustain operations
3 Orderbook of RM600 million provides earnings visibility up to 2023.
4. Utilisation of pipe-lay barge KL101 - Currently on used by MCM contract, offshore of Terengganu
5. Collaborate with stronger companies
6. Strategic tie-up with Vallianz.
7. Collaboration with Minsheng.
8. To explore areas of collaboration
9. Actively disputing & taking legal action against Petronas lead by Chairman Zaid - RM1.02 billion demand against Petronas Carigali in August 2019.
10. Actively disputing & taking legal action against Petronas lead by Chairman Zaid - RM179.84 million from Petronas Gas Bhd, in relation to the procurement, construction and commissioning of Pengerang Gas Pipeline Project (formerly RGT2 Pipeline project).
11. Work in Progress to get out of PN17. Clear visibility that Barakah is actively working on improving their financials and business prospects.

Brilliant feedback Jmz88!

Posted by Jmz88 > 2020-02-04 13:05 | Report Abuse

Thanks for compiling @Mabel! Cheers! or as you like to say: Meow!

Posted by Machho > 2020-02-04 17:58 | Report Abuse

Meow meow meow

Posted by Godofgambler > 2020-02-04 18:50 | Report Abuse

Got good new annoucement from Bursa!!!!!









Meow meow.......

Posted by Jmz88 > 2020-02-05 09:50 | Report Abuse

@Godofgambler I like your enthusiasm but i don't think these announcements count as positive news, it's more of documentation under Bursa listing requirements.

Both dated 3 Feb 2020
i) No major development to the status of default in payment of the loan facility.

ii) The Board of Directors wishes to inform that the Company is in the midst of formulating a plan to regularise its financial conditions (“Regularisation Plan”). The Company has approximately three (3) months to submit its Regularisation Plan to the relevant authorities for approval.

I am looking forward to announcement regarding response from Petronas - hopefully this will be positive!

Posted by Happy3933 > 2020-02-05 16:01 | Report Abuse

To @mabel..... meow means huat, meow meow meow....

Posted by tiruban85 > 2020-02-05 17:58 | Report Abuse

hi Mabel, do you use SMA 200 for this counter? is there any use for it?

Posted by tiruban85 > 2020-02-05 17:59 | Report Abuse

In a week time, i will celebrate my 1st year anniversary with Barakah. Been one year holding this stock. Hope to hear good news soon.

Posted by Godofgambler > 2020-02-05 18:30 | Report Abuse

Tiruban85 most likely got sparkling news

Posted by T800Terminator > 2020-02-05 22:07 | Report Abuse

Gone case.......

Posted by Godofgambler > 2020-02-05 22:24 | Report Abuse

Anyone got any news?
White knight?
Black knight?

Posted by Machho > 2020-02-05 22:58 | Report Abuse

Meow meow meow no news mean everything fine enough

Posted by tiruban85 > 2020-02-06 08:33 | Report Abuse

@Godofgambler 6 days to count down, 1 year anniversary.

Posted by Godofgambler > 2020-02-06 18:16 | Report Abuse

Tiruban.. I still remember how i keep my knm from 0.36 for 2 years.. Drop till 0.09 still keep. Never average...prediction tp Rm1.00 . Sold at 0.44 making handsome profit. Re enter at 0.30 and now waiting for tp 1.00 again.