AAX 24 billion debt can still survive in counter. Sapura only 1.4 billion debt previous earning, I think it is overstated panic scenario. It’s probably rigged to flush retailers out
Oh no. Janda Sapura kena downgraded to 3sen by UOBKH. Outlook very bleak after Petronas job also cannot get. No lucraruve project can get moving forward. Like this last resort wtg RI only lah. Correct?
hoot9e996 apa jadi? why lao sai 07/12/2021 9:21 AM
The movement today is triggered due to the Kasawari deal. Again, there is no national agenda to rescue local O&G entities and politicians busy filling their own pocket. Sapura need to overcome the toxic contracts to move in positive direction, let’s see.
This company to heavy with debt of RM10 billion and annual interest payment of RM600 mil. Current operation not sustainable to meet debt obligation and highly potentially to default its debt obligation in future. The company need to sell some of its asset to bring down its debt
Kasawaru phase 2 bid has disqualify sapura 2-3 weeks ago..I believe todal selloff is cause by article from Nan Yang with title implied that Sapura may bankruptcy....
Still collecting. Up to you guys to buy or sell. I still believe this coming Qr will be good one and if its the institutional who sells, it will be a big gain in time forward. No doubt this company is in debt that is why the price is low. AXX survived , i believe it can still make it. As for people who spark fear without substance, i know your problem as you cut a big loss that is your choice of trying to get some little gain. Feeling great and spark fear so that you may feel great on your prophecy. If it needs to spread, bring some substances out. Obvious season of down and expecting it to grow like a crypto simply make no sense. but i am collecting. No buy or sell call here but little encouragement to the investors.
@Nikmon. Possible, means it’s not PNB, it’s some big money investors flushed and domino the panic sale. However it’s no basis of bankruptcy as the Company can exercise so many options with creditors and rich with assets and contracts. It’s not like they have nothing ongoing like AAX.
Daripada gi gamble kat pak brahim tu baik sapula ni. Cuma sapula kena reorg operation, cost cut, start bayar the supplier n vendors. Byk sgt kena sumpah.
There was a time it reached 0.08 but all were in fear. Then it reached 0.17 all go buy. Sadly, punters could never gain big on this ! Even Bitcoin has its own Cycle.
PNB can loan to this co via PP or what not.. still gain for PNB can use the gain for next round of dividend...other investors should not panic... PNB sell to provide dividend for ASB .. that is normal la... where PNB wanna get money if not selling this one?
From UOB Kay Hian's report, seems like the banks are not willing to waive the default of loan. UOB is one of Sapura Energy's lender, so maybe UOBKH heard some internal news from their counterpart.
If that is really the case and there is no alternative funding available to repay the debt, the logical next step is to declare PN17 and negotiate a "haircut" with all the creditors (like what AAX has done).
For me, short term pain is better than long term pain. If keep on dragging like this, more O&G operators will disqualify Sapura Energy from bidding for their projects. Might as well restructure and start afresh.
PNB through all of its funds hold altogether ~40% of the company's share. If it goes down the PN17 route, that is one hell of impairment they have to take for their funds, especially the flagship ASB (which I think they don't have the stomach given assets/gains are quite stretch).
I think Sapura is too big too fail (not in terms of market cap, but rather the chain effect to the society should it fail), may end up government has to do the rescue tho (what else is new).
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cashflow
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Posted by cashflow > 2021-12-07 09:36 | Report Abuse
AAX 24 billion debt can still survive in counter. Sapura only 1.4 billion debt previous earning, I think it is overstated panic scenario. It’s probably rigged to flush retailers out