Posted by HaiLiDeYu > 2021-10-01 08:40 | Report Abuse

Are all O&G counter having the same account payable/account receivable issue? If yes.. not only Sapura has the problem. Once that is cleared off then should be okay for most of the P&G company.

Posted by koyokui > 2021-10-01 09:06 | Report Abuse

Buy sapura migth rebound oil high

Posted by drkelvin20 > 2021-10-01 09:11 | Report Abuse

rebounding....no panic selling...market well absorbed this QR, and its moving on...patience...

Posted by Jack Khan > 2021-10-01 09:15 | Report Abuse

Last time oil drop from USD120 to USD 40++ Sapura Energy also not drop much! but after the share change hand to retailer only it will drop 99%

Posted by Jack Khan > 2021-10-01 09:16 | Report Abuse

Can't win the game here so I will not touch this stock!

Posted by ZackMaz > 2021-10-01 09:22 | Report Abuse

Sapura will rise

Posted by Sniper S > 2021-10-01 09:23 | Report Abuse

Stay away from all these bumi companies.

Posted by Icon 888 > 2021-10-01 09:25 | Report Abuse

Ironman, Captain Amerika, The thor - all inside this Company now..its Avenger

Posted by freddiehero > 2021-10-01 09:27 |

Post removed.Why?

Posted by freddiehero > 2021-10-01 09:28 | Report Abuse

want chanllege aa?

Posted by linheng > 2021-10-01 09:33 | Report Abuse

Haha. Thank god. My cost is 13 cents. Sell all at 11 cents and move on.
Was thinking the price may crash. Lucky

Posted by JoshuaMS7 > 2021-10-01 09:37 | Report Abuse

haha who buy who trapped. with current loss might causes company big issue and risk for PN17 or bankruptcy anytime soon.

Posted by Charles222 > 2021-10-01 09:39 | Report Abuse

I still believe in this counter even though this Qr is drop below expectation. There must be reason of the shuffling of the team behind and a pro team will not extend Qr unless there is some unfinished reporting of the profits which might be forwarded into next Qr. UpTo you guys. A top PETRONAS and SHELL team will not make the messy messier as it's an obvious shame. Any of the high table people will know it unless some big man like the chairman is behind of the decision making, therefore, interrupted it. Anyhow this stock is for long term .

Posted by Sniper S > 2021-10-01 09:45 | Report Abuse

It's like a mini Malaysia, their ultimate motive is to enrich themselves and as long as they continue receiving fat salaries, they don't really care whether the entity go bust or not. It is a already a dead stock.

Posted by strattegist > 2021-10-01 09:46 |

Post removed.Why?

Posted by Charles222 > 2021-10-01 09:53 | Report Abuse

Then they will not be in the high table . If I'm trying to enrich myself I will find a company that has money and not a company about to go bankrupt as it will put it in the whole news for bad reputation . For what reason do they do it ? Since it's an obvious thing ? Petronas chairman trying to get a little money from a about to bankrupt company ? Let's think further . Definitely in near term you will not be able see the grow but personally I still hold on to it. I don't believe in obvious thing . A person dares to take this company which about to bankrupt? And yet calling the shell friend to help it bankrupt faster ? Illogical.

Posted by Sniper S > 2021-10-01 10:01 | Report Abuse

It's share price depreciate year on year, just like the ringgit. Although they win new contracts regularly but you never see the value of these contracts reflected in the share price. And now what happened? More losses and more debts. They think that with Govt backing it is fine but it will be the next MAS, Proton..etc.

Posted by ronsimmons > 2021-10-01 10:15 | Report Abuse

Well said @Charles222. Will take time to turn the big ship around, and 70-80 oil price is great environment to do this in

Posted by Powerstock > 2021-10-01 10:25 | Report Abuse

pentabiran baru ni gunakan "Prudence dan Conservative" accounting
semua forseeable losses dah di provided
lebih baik fokus masa hadapan dgn harga minyak yg tinggi
gunakan otak lah,jangan lah di terpengaruhi oleh emosi negatif

Posted by Powerstock > 2021-10-01 10:30 | Report Abuse

tahun ni masih dlm keadaan covid pandemic
tahun depan tak mungkin dlm keadaan covid pandemic

Posted by Wilsonleong8888 > 2021-10-01 10:34 | Report Abuse

Oh no, oh no ,oh no no no no no…….

Posted by baskoro1965 > 2021-10-01 10:41 | Report Abuse

Already reached last breakout price. Will buyers come back at this level?

Posted by Sniper S > 2021-10-01 10:44 | Report Abuse

Come back for what? Figures don't lie, men do.

Posted by JoshuaMS7 > 2021-10-01 10:50 | Report Abuse

It's true come back for what? You think it's able go back glory times with more than 100 billions debt and still losing huge money (billion) every qtr? Think twice about it.

Posted by detouch > 2021-10-01 10:57 |

Post removed.Why?

Posted by Timmy Tan > 2021-10-01 11:09 | Report Abuse

This is my personal opinion as someone who has worked in the industry before.

I don't think the new management joined the company to enrich themselves, but they might have underestimated the underlying problems with the company. New contracts were bid at very competitive prices, but because of cash flow problem, supplier and subcontractor quoted higher prices as they have a hard time getting payment. Situation worsen when Covid strikes and project progress is slow. Already locked in workers and materials, cannot simply cancel and have to bear all the compliance and quarantine costs. Working capital invested also stuck. In fact, this is the second time already the company has to make huge provisions due to Covid. Provisions are different from impairment ya. It will have cash flow impact and I suspect is the reason why payables swell to RM3.3bn.

Another critical problem is the breaching of loan covenant for the RM10.3bn financing facilities. Not a good sign to breach something which the company just put its pen on half a year ago. Although the company has obtained waiver, there will be another round of covenant review in Q4 (from PublicInvest Report). High chance for the company to breach covenant again as it expects hurdles to continue in the 2nd half. In the event second waiver is not obtained, it is a default and banks are allowed to call back all the loans! Might also face problem qualifying itself for future projects internationally as these clients normally have very stringent requirements.

Of course, if PNB wants to, it can save the company by subscribing to rights issue or private placement or try ask Maybank to extend more loans. But how long can PNB do this without incurring the wrath of public and their fund investors?

Posted by Jonathan Keung > 2021-10-01 11:16 | Report Abuse

Outstanding borrowings too big for sapnrg to sustain operations. 11 billion loans borrowings plus refinance charges. Negative earnings for the past 4 years. a large share base of 16 Billion in circulation is really challenging for any company.

Posted by strattegist > 2021-10-01 11:18 |

Post removed.Why?

Posted by baskoro1965 > 2021-10-01 11:23 | Report Abuse

Wrong forum,sorry.

Posted by Powerstock > 2021-10-01 11:34 | Report Abuse

you takda harapan, sila jual dgn pantas
jangan menyesal bila harga Sapnrg melangit kelak


===============================================================
DiuNiaMah

Kapla bana lah!

guna definasi Mat Saleh konon bagus sangat.

Semua lanun dan pacat saja dalam sykt GLC

Dah hampir 40 tahun x maju-maju.

Pastu iri hati pada yang berjaya.

Heh, orang lain x der dapat bantuan KERAjaan lah.

Posted by Powerstock > 2021-10-01 11:42 | Report Abuse

Sapnrg ni too big to fail
Amerika Syarikat tak menyelamatkan syarikat2 yg "too big to fail ke?"
you tak paham ke? masin berkelakuan macam bayi ke?
sila jual saham sapnrg dgn srta merta
jgn bising sangat bila you dah jual

Posted by Powerstock > 2021-10-01 11:58 | Report Abuse

lehman bros bagus ke?Apa terjadi dgn lehman bros?
lehman bros menyebadkan semua pasar saham dunia jatuh besar

Sapnrg boleh jatuhkan Bursa ke?
Sapnrg boleh jatuhkan pasar saham dunia ke?

Posted by Timmy Tan > 2021-10-01 12:06 | Report Abuse

Maybank, CIMB, RHB and AmBank are all lenders for Sapura. If Sapura really fail, will have big impact on the Malaysian banking sector, hence I also hope Sapura can recover. But the company really has to pick itself up, cannot always hope for help only. There is only so much that PNB can do.

Posted by SpartanXoXo > 2021-10-01 12:30 | Report Abuse

don't lahhh..bagi chance hehe

Posted by Tobby > 2021-10-01 13:35 | Report Abuse

9 cents loss is too much! I didn't see the Opex or operating expenditure shot up so much due to Covid!
The other thing is the revenue! It has yet to account for alot of unaccounted revenue which the management acknowledge and request for delay!
So either this result will have to be re accounted or will be counted in the next quarter! I don't know!
Rest assure, Saprng is actually still undervalue given it's price is still below it's book value!
Having said that, it seems the new team has alot of work to do! It's very tough job! Very tough!
But as long as the new team which is veterans in OnG do their best, i think Saprng should be turning around next year! Given that oil and gas price are now at their 4 years high!

Posted by Tobby > 2021-10-01 13:38 | Report Abuse

Unfortunately, major shareholder took long time to realise the old management was imcompetent!
This new team took over in April, so they inherit this very messy ship! But they are taking proactive steps! Kicking out old guards who are mostly rent seekers is only part of it!
Still need to refurbish 10 billion debt ahead! But the Opex certainly very shocking! Which is the major contributor of such big losses!
But given this new team are veteran proffesionals!

Posted by cashflow > 2021-10-01 13:39 | Report Abuse

Folks. Does anyone understand revenue recognition. The engineering project is yet to get paid, and it got deferred. The following quarter will see much higher revenue. Why panic on single quarter when order book is thick. Chill folks. I am holding, if it falls to below 10cents, buy more, keep collecting. PNB have big stake, they won’t let it drown.

Posted by CUTLOST > 2021-10-01 13:39 | Report Abuse

Wow don't play2 lor..1.5B for 11cents stock

Posted by Tobby > 2021-10-01 13:41 | Report Abuse

Yeah, but at least they dont' try to hide it! Better be honest than to let it blow later on like Serba!

Posted by Albert Baker > 2021-10-01 14:30 | Report Abuse

i'm sure the sleeping giant will wake up ....

Posted by UlarSawa > 2021-10-01 15:03 | Report Abuse

New team look like retiree from their old job ini macam leh. Without King Shahril at helm sapnrg is getting worst now. Sapnrg=King Shahril. Correct?

Posted by Mikesinoda283 > 2021-10-01 15:19 | Report Abuse

i think during this covid season, its very hard lah to come out with profit especially when it comes to projects delay. sap have a huge order book and already bid on several other projects.

Next quarter most likely turn into the black dy. just hold for now and wait

Posted by CANON911 > 2021-10-01 15:25 | Report Abuse

kinda agree with you. things are looking bleak just bcs of covid. since the most countries are going towards the endemic phase, things will slowly turn out to be better - oil demand will start to increase back up. oil price increase and these oil counter will also be reflected

Posted by cashflow > Oct 1, 2021 1:39 PM | Report Abuse

Folks. Does anyone understand revenue recognition. The engineering project is yet to get paid, and it got deferred. The following quarter will see much higher revenue. Why panic on single quarter when order book is thick. Chill folks. I am holding, if it falls to below 10cents, buy more, keep collecting. PNB have big stake, they won’t let it drown.

Posted by JoshuaMS7 > 2021-10-01 15:25 | Report Abuse

haha breaking 0.100, you guys still believe and confident??

Posted by Plantermen > 2021-10-01 15:26 | Report Abuse

New management team is like any paid employee unlike Sharil who have a vested interest and fortune tied with the company. Profit or loss they still enjoy the same pay & perks

Posted by Sniper S > 2021-10-01 15:30 | Report Abuse

These losers and lazy bums keep using covid as an excuse. Do you see Petronas making losses?

Posted by Twowah123 > 2021-10-01 15:43 | Report Abuse

Crap juz manage to have a look here. Loss rm200 now. Wanna cutloss or hold. Is the company still good??

Posted by JoshuaMS7 > 2021-10-01 15:44 | Report Abuse

You're true, see other counters like armada, hibics etc make 100 millions profit instead make 1 billion losses.

Posted by Sniper S > 2021-10-01 15:47 | Report Abuse

Short term, the lazy Management continue to earn fat salaries and perks, share price sideways. Long term the company will go bust due to mismanagement and Management will move on to another GLC and screw up the company.

Posted by amirsyam1001 > 2021-10-01 15:50 | Report Abuse

Please wait me at 0.085. now negative news plus octoberfobia. All hands down. :(