Posted by Firefighter > 1 month ago | Report Abuse

Oil price is heating up on US election day!

Posted by AlexChiaWS > 1 month ago | Report Abuse

The boss always want cheap shares.
He want to buy 62.5M unit for Rm 7.5M (after consolidate). That mean around 0.035 per share at current situation.
While Esos, is being estimated to be at 0.040 of current.

I understand to reward the employee (this is good) and company require more capital to expand.
Why not, RI for chance to all share holder to subscribe. If not fully subscribe, than boss can wallop the remaining portion.

Posted by mf > 1 month ago | Report Abuse

Dow Jones

Dow Jones Industrial Average

41,763.46

-378.08

0.89%

Nasdaq

NASDAQ Composite

18,095.15

-512.78

2.75%

Posted by AlexChiaWS > 3 weeks ago | Report Abuse

What is this?
Even received Rm76M, market valuation is 0.045/pcs? What kind of anticipation does the market is having?

Posted by Robert Waters > 2 weeks ago | Report Abuse

This company bought a white elephant barge for MYR 350 mln. Then 10 years later after upkeep in millions they sold it for 50 million. Loss in excess of 300 mln. I think that 70 mln does NOT cover it at all.

Posted by Kotaro > 2 weeks ago | Report Abuse

The difference between the Disposal Consideration of USD9.70 million and last instalment to EXIM Bank of USD11.06 million amounts to USD1.36 million (equivalent to approximately
RM5.86 million). For information, the Company’s cash and cash equivalents stood at RM54.56 million based on the audited consolidated statement of financial position of Barakah as at 30 June 2024 and the Company’s cash and cash equivalents will increase to RM133.38 million should the Group receive the RM78.82 million Adjudication Sum.

Posted by Flyinghorse > 2 weeks ago | Report Abuse

1QR nett loss rm 8.323m

Posted by AlexChiaWS > 2 weeks ago | Report Abuse

Bad decision happens doesnt it @Robert?
Same as last few years when there was company wanted to buy that barge at USD20M but Barakah decided to refuse.
End of result, the sale is realised and the lender agreed with the settlement proposed.

Those bad decision supposedly already priced in when the valuation of it share price went down from 0.800.
Now, the company valuation is at Rm55M. It receipt Rm76M which is suppose to bring positive to its value.

I am just wondering why the market is reacting otherwise...

Posted by Robert Waters > 2 weeks ago | Report Abuse

In my opinion the market reacts without enthusiasm due to the record of the company. Yes, they were able to succeed in courts and arbitration by harrassing own clients. Yet they are unable to secure contract and execute them profitably. Unless they have more client to sue, future does not look bright.

Posted by AlexChiaWS > 2 weeks ago | Report Abuse

We will see "updates on the contracts being tendered" as per quoted inside announcement previously.

Posted by Robert Waters > 1 week ago | Report Abuse

Yes, many new contracts now are being issued by Petronas for the MCM services (30BLN). Sapura, a PN17 company won a big reward (5BLN estimate, but not guaranteed as call outs needed for orders). Hope that Barakah gets some too. So far, 3 weeks later, there is nothing. But related to this, earnings just announced by Barakah are nothing short of disasterous. Profit turned into a loss of MYR 8 mln. This amount, not exactly a spare change for Barakah that needs to pay off debts instead of going deeper into red.. Just not enough work they say. Focused too much on litigation ? Without new contracts there will be no clients to sue. for Barakah, and their model to go after parters in courts may not be sustainable.