Posted by ZackMaz > 2021-10-01 16:02 | Report Abuse

As long PNB is inside, I will be the shareholder of sapura.

Posted by matg > 2021-10-01 16:16 | Report Abuse

discount maa 10.10 begins

Posted by strattegist > 2021-10-01 16:19 |

Post removed.Why?

Posted by cashflow > 2021-10-01 16:19 | Report Abuse

HODL. Don’t let whales eat fish

Posted by Timmy Tan > 2021-10-01 16:19 | Report Abuse

For those saying its purely revenue recognition problem, I admire your optimism. The real issue is cash flow and liquidity. Even the CEO admitted this in the press release.

If you study the financial statement closely, you will know that the company has been drawing down its revolving credit and trade facility to cover its interest payment and operational requirement. How much of these facilities remaining? Does the company have enough cash to finish off the projects so that more collections can come in? Thick order book means nothing if the company don't have enough working capital to execute the projects.

At this rate, I feel a fund raising exercise or a major asset sale (50% stake in the SapuraOMV exploration & production business, Brazil pipelay vessel or Drilling business) is inevitable.

Posted by cashflow > 2021-10-01 16:21 | Report Abuse

Gas Price went triple in couple of months. Sapura is gaining big time as the price sustains for ongoing quarter

Posted by takuhara83 > 2021-10-01 16:27 | Report Abuse

on the back of world oil price trending upwards and covid 19 starting to recover - oil demand is starting to increase.

sap and other oil counters will also rebounce back soon

even aminvest and public bank push hold call.

Posted by Nikmon > 2021-10-01 16:32 | Report Abuse

I guess selling asset take time, to resolve the current situation need fresh injection or compromise from client and vendors...hope the veterans could pull it off, than this will be last hurdle assuming no new variant.


Posted by Timmy Tan > Oct 1, 2021 4:19 PM | Report Abuse

For those saying its purely revenue recognition problem, I admire your optimism. The real issue is cash flow and liquidity. Even the CEO admitted this in the press release.

If you study the financial statement closely, you will know that the company has been drawing down its revolving credit and trade facility to cover its interest payment and operational requirement. How much of these facilities remaining? Does the company have enough cash to finish off the projects so that more collections can come in? Thick order book means nothing if the company don't have enough working capital to execute the projects.

At this rate, I feel a fund raising exercise or a major asset sale (50% stake in the SapuraOMV exploration & production business, Brazil pipelay vessel or Drilling business) is inevitable.

Posted by Powerstock > 2021-10-01 16:35 | Report Abuse

pengurusan baru adalah positif
tindakan pengurusan ambil provision utk forseeable loss yg mengejutkan ada lah positif
penjelasan secara teliti dlm QR menunjukkan kepakaran,ketelusan ada lah positif
tahun ni covid pandemic mengakibatkan kegiatan ekonomi lembik serta kerugian besar
tahun depan covid memang di kawal ada lah postif
kegiatan ekonomik tahun depan akn meningkat ada lah positif

Harga minyak masa depan akn kekal ke taraf yg tinggi ada lah positif
pengurusan baru ni boleh mencapai perlaksanaan yg bagus dlm masa hadapan

Posted by HeLLo Cannot (=^x^=) > 2021-10-01 16:46 | Report Abuse

Holland dah. Short term borrowings tu, macam mana nak settle x cakap.

Posted by JoshuaMS7 > 2021-10-01 16:52 | Report Abuse

walao closing 0.100!! Next week closing lower until PN17 soon.

Posted by Ekkram > 2021-10-01 16:56 | Report Abuse

Sakit ke sehari jatuh 13%? Saje tanye…

Posted by Timmy Tan > 2021-10-01 17:00 | Report Abuse

For new investors, 50% of Sapura's exploration & production business has been sold to OMV, meaning it is a joint venture and Sapura cannot freely use the cash from gas sale to fund Engineering & Construction business. There is also a USD350 million loan sitting at the joint venture's book. So while Sapura will benefit from high gas prices, it is definitely not enough to solve the immediate liquidity issue.

As for analyst calls, please don't selectively disclose only the hold calls. There are also 2 sell calls out of the 4 reports available here.

I will stop here. Invest wisely!

Posted by stevenckheng > 2021-10-01 17:10 | Report Abuse

PP mari

Posted by matg > 2021-10-01 17:17 | Report Abuse

BUY when people sad.. SELL when people happy and greedy.. your money your decision.. many people here only faking like pro for self purposes.. haha

Posted by acinanatucer > 2021-10-01 17:20 | Report Abuse

Keep the patience...More time is needed
By the way, Sapura Energy Bhd has been awarded contracts in Australia and Brazil with combined values of approximately RM942 million and RM1.7 billion, respectively.

I believe this counter will turn to black in the future

Posted by Jack Khan > 2021-10-01 17:33 | Report Abuse

PNB have big stake, they won’t let it drown.
------—-------------------
I hope you are right but see what happen to MAS. they only protect certain people

Posted by fluffyclouds > 2021-10-01 18:01 | Report Abuse

New Contracts, oil price moving north, bound to be another Oil & Gas cycle, only a matter of time before they turn it around. Perfect time to buy and put in deep freezer.

Posted by fluffyclouds > 2021-10-01 18:05 | Report Abuse

Also change of people, this was the perfect opportunity to push out as much bad loss as possible, new people have a great opportunity to make a real difference moving forward.

Posted by MaverickBuzz > 2021-10-01 18:26 | Report Abuse

Oh boy... What a result. When will you turn around? Don't take too long...

Posted by strattegist > 2021-10-01 18:30 |

Post removed.Why?

Posted by Nikmon > 2021-10-01 20:07 | Report Abuse

This will be settle before next election, impact too big...but not in near term, at least 3 months sideline at lower price.

Posted by MatDangz > 2021-10-01 20:34 | Report Abuse

Klu oil below 70$ lgi teruk nie drop

Posted by Jonathan Keung > 2021-10-01 20:35 | Report Abuse

Survival now depends entirely on their bankers. CGS -CIMB revised target price is miserable 4.5 sen

Posted by UlarSawa > 2021-10-01 20:56 | Report Abuse

Bankers sudah cakap Long term loan become short term loan. Meaning apa. Sapnrg financially takda steady. Need cash injection baru steady. Be prepare for RI need to raise fund from the public again. Think PP not enuf to raise enuf cash. Public willing to pump more money in or not. If yes then good lah. If no then PNB need to sapu the remaining shares yang tak laku. Will this trigger General Offer to take it private. Hard to say lah. Can read SembCorp Marine case study how the company also caught in the Pandemic MCO like Sapnrg. Temasek pump in money to rescue the company twice. Go goggles the case study. Correct?

Posted by didi7349 > 2021-10-01 20:57 | Report Abuse

definitely is pnb o comw to rescue,dun think anybody public or retailer will biy the ri

Posted by Nikmon > 2021-10-01 21:07 | Report Abuse

Which CB KFC shit want ex-CEO back?

CGS-CIMB Research further noted that the two troubled projects were secured during the tenure of then-president and founder Tan Sri Shahril Shamsuddin who has since handed over the reins to Datuk Mohd Anuar Taib on March 23

Posted by strattegist > 2021-10-01 21:30 |

Post removed.Why?

Posted by cashflow > 2021-10-01 21:42 | Report Abuse

When price at 7 cents, people complaint it will bankrupt, etc. then it went double within months. When price 10 cents people complaint, then in 6 months price go double. When price 20 cents, still people complaint :P

Posted by UlarSawa > 2021-10-01 21:45 | Report Abuse

Anyway Ular not a shareholder very long already leh. At least pun 2 QR takda makan kfc leh. Why asking such question King Shahril no good kah. Then non of Ular business also leh. Sapnrg without King Shahril also not better also leh. Get big names from petronas and Shell also end up like this leh. Order Book left 7.5bil only. Belum tentu enuf profit can cover finance cost leh. How long it can last. you count yourself lah. Correct?



Nikmon Which CB KFC shit want ex-CEO back?

CGS-CIMB Research further noted that the two troubled projects were secured during the tenure of then-president and founder Tan Sri Shahril Shamsuddin who has since handed over the reins to Datuk Mohd Anuar Taib on March 23
01/10/2021 9:07 PM

Posted by kimsean > 2021-10-01 22:55 | Report Abuse

This counter is a write off, wonder why still got people wasting time here, can't understand.

Posted by izoklse > 2021-10-01 23:06 | Report Abuse

because the one at the back of this counter and support this counter is PNB. So that is why people still support this counter.

Posted by Powerstock > 2021-10-01 23:50 | Report Abuse

pengurusan baru Sapura Energy dah buat keputusan yg baik
keputusan yg baik ia lah " maximize provision for forseeable losses to clean up the accounts"
tetapi sa golongan analyst masih tak percaya, masih ragu
keraguan analysts ni hanya boleh di hapuskan dgn positif performance dan perlu ambil masa
Situasi "making max provision for foreseeable losses" tak perlu berlaku lagi di masa hadapan
Ini standard modus operandi dan prudent accounting procedure oleh proaktif forward looking pengurusan baru

Posted by cashflow > 2021-10-02 01:28 | Report Abuse

Yes, it’s possible that management took large provisions declaring the foreseeable losses. No matter how, they knew first hand the loss will be more than a billion ringgit, so they kept provisions for next QR to shine. Most of the late revenue recognition is going to pour in soon, I guess that’s why the stock held grip without major panic sale. Let’s see how this plays out.

Posted by Jack Khan > 2021-10-02 04:06 | Report Abuse

Don't Complain other's complain!
____________________________________________________________________________
cashflow When price at 7 cents, people complaint it will bankrupt, etc. then it went double within months. When price 10 cents people complaint, then in 6 months price go double. When price 20 cents, still people complaint :P

Posted by linheng > 2021-10-02 05:00 | Report Abuse

With this kind of losses and the company warning that it will be difficult times ahead, I suppose a massive rights issue is likely. They may support the price to call for a rights issue, but the problem does not go away.

Posted by 286210 > 2021-10-02 06:18 | Report Abuse

Much better for new management to declare a one-time big loss. Kitchen-sinking. Then start again sooner... on a new trajectory. Don't worry, analysts do not know everything...

Posted by bullmarket1628 > 2021-10-02 06:53 |

Post removed.Why?

Posted by nisah395 > 2021-10-02 08:37 | Report Abuse

Kenanga TP 0.07 can it or not?

Posted by freddiehero > 2021-10-02 08:38 | Report Abuse

how come become many supporter?

Posted by freddiehero > 2021-10-02 08:39 | Report Abuse

price drop baru many come support oh...

Posted by strattegist > 2021-10-02 09:02 |

Post removed.Why?

Posted by bullmarket1628 > 2021-10-02 10:12 | Report Abuse

Today’s Sin Chew Jit Poh financial section front page got good news for all O&G counters !

油价起股价反跌 油气股料急起直追
特許费達協议 砂油气将活络
星洲日报 行业快门 洪建文/报道 2-10-2021

Kenanga Reseach upgrade O&G counters to 买进(BUY), 认为油气股股价和国际油价的”错配”，将带来短线交易和捞底的机会。
本地的油气活动之前受到封锁措施的打击，因此，该行看好2002年是复苏年，因为经济活动正重新开放、国家石油公司和全球企业将重新展开投资，尽管资本开销仍然低于疫情前。

Posted by sheep > 2021-10-02 10:19 | Report Abuse

Year 2002? Didn't check or edit by writer or section panel or the person who posted it.., that showed their work ethics or attitudes...you want to believe him?..
Happy holiday...wakakaka

Posted by Banditos > 2021-10-02 10:30 | Report Abuse

A RM1 bil provision for foreseeable losses on two projects, notably the Yunlin offshore wind farm installation in Taiwan and central processing platform (CPP) fabrication job for ONGC in India;
Revenue reversal of circa RM700 mil related to those projects;
COVID-19-related compliance costs of RM69 mil;
RM47 mil share of the write-off of dry well drilling costs at SapuraOMV; and
Another RM47 mil share of the reversal of revenues at SapuraOMV’s Peninsular Malaysia oil blocks relating to revenues earlier recognised between Feb 1 (when the sale to Jadestone became effective) and July 31 2021 (when the sale was ultimately completed).

Posted by loyalok > 2021-10-02 11:30 | Report Abuse

https://www.theedgesingapore.com/capital/offshore-marine/uob-kay-hian-upgrades-offshore-marine-sector-overweight-industry-activity?utm_source=WeekendEDM&utm_medium=email&utm_campaign=singaporemarketreport

Posted by Godofgambler > 2021-10-02 12:47 | Report Abuse

https://news.cgtn.com/news/2021-10-02/Oil-settles-near-3-year-high-ahead-of-OPEC-meeting-141xPBmHa4U/index.html

Posted by ipohwhitecoffee > 2021-10-02 12:49 | Report Abuse

aiya dont waste time la.

Even Oil price 100 also cannot stop this crap from touching 52 weeks low.

Posted by izoklse > 2021-10-02 12:54 | Report Abuse

As long as PNB still support this counter, i will support it.

Posted by Godofgambler > 2021-10-02 13:23 | Report Abuse

Today’s Sin Chew Jit Poh financial section front page got good news for all O&G counters !

油价起股价反跌 油气股料急起直追
特許费達協议 砂油气将活络
星洲日报 行业快门 洪建文/报道 2-10-2021

Kenanga Reseach upgrade O&G counters to 买进(BUY), 认为油气股股价和国际油价的”错配”，将带来短线交易和捞底的机会。
本地的油气活动之前受到封锁措施的打击，因此，该行看好2002年是复苏年，因为经济活动正重新开放、国家石油公司和全球企业将重新展开投资，尽管资本开销仍然低于疫