This stems from the group being on the verge of refinancing its RM10bil debt for another 7 years by the end of January next year without any substantive interest cost increases, which we believe was assisted by Sapura’s largest GLC-backed shareholder. Additionally, Sapura has secured additional working capital of RM1.2bil for its ongoing and prospective projects.
Sapura can hit 15c if brent hits US52 soon.Its has great upward potential next year as rig count is down and with rising crude demand post Covid will cause upward movement of oil prices possibly to US 65 per barrel since it will take time to increase rig count worldwide causing demand to increase faster than supply(shortage). Must will depend on the speed of economic recovery based on mass vaccination.A sharp decline in Covid cases will cause oil prices to spike up faster. As oil prices recover due to supply shortage,capex of oil firms will increase and this will bode well for Sapura as their order book will swell.
NEW YORK (Dec 23): Oil dropped towards $50 a barrel on Tuesday, adding to losses from the previous session, as a mutant variant of the coronavirus in Britain revived concerns over demand recovery.
Detection of the new variant prompted several countries to close their borders to Britain. The BBC cited France's Europe Minister as saying that the two countries would announce a deal to restart freight by Wednesday.
Brent crude was down 60 cents, or 1.2%, at $50.32 a barrel by 11:58 a.m. EST (1558 GMT), while U.S. West Texas Intermediate (WTI) crude fell 72 cents, or 1.5%, to $47.25.
Now is a good start for Sapura... Full of projects.... Good oil price.. Ceo kick out in order to save Sapura.. Covid going to recover.. Aeroplane starts to fly again. Many more
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....
ruhaizat69
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Posted by ruhaizat69 > 2020-12-22 14:39 | Report Abuse
TP 0.75 for near term due to negative news