Posted by Timmy Tan > 2021-12-09 12:27 | Report Abuse

Windy1974: Sapura 3000 sold by SapuraAcergy joint venture to a subsidiary of Sapura Energy Berhad in 2017, meaning it is fully owned by Sapura. It is also still on Sapura's website and some public vessel database. You heard news that the vessel has been disposed? To who?

As for Kasawari, yes MMHE was the favourite. What was concerning was the disqualification of Sapura. Petronas tender is split into two parts, technical and financial qualification. Don't think Sapura will fail the technical part, so high chances for it to be due to the financials. I think investors are worried this problem will persist for other big tenders.

Posted by JuliusCeasar > 2021-12-09 12:33 | Report Abuse

Agreed with you Timmy Tan. Sapura failed on financial issue not technical issues.

Bur Market does not care! What is important is does company make profit!

Posted by skyu > 2021-12-09 12:39 | Report Abuse

I highly doubt consolidation of shares or any more cash call. the better ideal would be maybank as another pnb company spit out more.borrowing to sapura.

my another doubt is, why their explorationn and production never put in the revenue figure. After operating for more than 1 year, why this division is still making loss. this question was asked in the industry players buy no 1 can answer the reason for the loss.

Posted by JuliusCeasar > 2021-12-09 12:45 | Report Abuse

Frankly speaking someone is trying to push down the price lower before buying with higher volumes.... Big money big money!!!!

Posted by Nikmon > 2021-12-09 12:54 | Report Abuse

Too many rig lah, 15 rig in total which is triple size of velestor.....
Sell some of it 3-4 to 1 billion, than sell the Brazil subsidiaries 1-2 billion, after price stabilize, do PP 10, 300-400 mil...haha

Posted by Timmy Tan > 2021-12-09 12:59 | Report Abuse

skyu: From what I understand, Sapura has a group of 13 to 14 lenders and they all entered into the same loan agreement with a lot of conditions that bound Sapura and all lenders together. Maybank can give more revolving credit to Sapura, but for big amount of loan, it is unlikely for Maybank to do it alone. They will want the other lenders to also chip in, which makes it very hard.

Exploration and production is the SapuraOMV joint venture, so of course no revenue, only share of profit/loss. Reason why division making losses is because OMV invested assuming oil price of US$70. The assets have been revalued upwards, resulting in more depreciation. So when oil price was way below US$70, of course the division make losses. Results should be much better though in Q3 and Q4.

Posted by skyu > 2021-12-09 13:02 | Report Abuse

dont underestimate the syndicate play. the theory of push down the price then push up by selling higher is just us the street gambler perception. all these boiled down to the company performance. the market capital for sapura used to be 24 billion and left 890 million now where it is very discouraging.

what timmytan said is quite correct, consolidation then cash call again. even if pnb willing to subscribe another 40%, I doubt any banks would take the job as they need to guarantee to absorb all the undersubscribed rights.

pnb, if they are a good portfolio manager, they should know they cant afford to let sapura energy down because of the failed ex ceo. the chain effect is too strong, involved too many local banks. sapura is like the mini petronas, where they have mostly all the expertise and assets from gas field to assets which to promote green energy.

merger? more cash from maybank? private placement? selling off assets?

last but the most nightmare, another cash call which I think is a joke

Posted by Nikmon > 2021-12-09 13:02 | Report Abuse

@skyu, look at velestor and MMHE,
Sapura has 8/15 rigs contracted and velestor 5/5 contracted, but still velestor still making loss in last quarter.
Same as MMHE also making loss in last quoter, EPCC is burn cash project and covid restriction cost in Q1-2. Those rig put in cold storage also cost a lot.

E&P earning does not enough to subside, and OMV need to fund jerun 2 billion and other exploration ...

Posted by skyu > 2021-12-09 13:04 | Report Abuse

Timmy Tan, I really salute u. u answered my question. thanks. are u accounting or auditing team ?

Posted by Timmy Tan > 2021-12-09 13:08 | Report Abuse

I am an accountant who used to work in the O&G industry.

Posted by skyu > 2021-12-09 13:11 | Report Abuse

hi Nikmon sapura 15 rigs are mostly barge type or industry call it submersible rigs which is obsolete rigs . they are totally different from valesto jackup rig with different purpose. of course sapura has much better vessels such as pipe laying vessels and offshore construction vessels which is high in demand. fabrication making lost such as mmhe is probably they lack in feed expertise.

Posted by Jonathan Keung > 2021-12-09 13:13 | Report Abuse

The big question ❓ will PNB still continue to pump in fresh funds . PNB may decide to write off this investment after disappointed run for the past 5-6 years.

Posted by skyu > 2021-12-09 13:17 | Report Abuse

Timmy Tan, awesome. thanks.

Posted by skyu > 2021-12-09 13:21 | Report Abuse

1 last question Tinmy Tan, should we anticipate the asset value ok sk408 is higher compare 3 years ago? how much u roughly guess the value of sk 408 now? why sapura sold there gas field to singapore at such low price?

Posted by Timmy Tan > 2021-12-09 13:49 | Report Abuse

skyu: I don't have the JV's accounts, so I am not able to value SK408. I would think it is higher now since they have completed the 1st phase (Gorek, Larak, Bakong) and is now developing the 2nd phase (Jerun).

What they sold to Jadestone Singapore are not gas fields. Those are old oil fields offshore Terengganu that existed since Newfield time. Those fields are quite close to the end of their lifespan. I think they probably want to focus their resources on developing SK408 instead of old fields that don't generate much income.

Posted by rtusha > 2021-12-09 13:51 | Report Abuse

https://www.theedgemarkets.com/article/cover-story-what-went-wrong-sapura-energy

Posted by hoot9e996 > 2021-12-09 14:39 | Report Abuse

when price fall too cheap region, increase by 0.005 people already take profit. very SUSAH up

Posted by skyu > 2021-12-09 15:04 | Report Abuse

thanks Timmy Tan for the great input, learn a lot from u.

Posted by cashflow > 2021-12-09 15:05 | Report Abuse

Anything is possible in this volatile market. Scomi went 4X, ICON went 7X.

Posted by 8899EL8899 > 2021-12-09 15:21 | Report Abuse

don`t wasting time investing in PNB lead company, smart bilis are investing in US NASDAQ stock, damn hot !, earn US dollar.............

Posted by strattegist > 2021-12-09 15:45 |

Post removed.Why?

Posted by Sw33per > 2021-12-09 16:37 | Report Abuse

This stock will make u billionaire...

Posted by Nikmon > 2021-12-09 16:58 | Report Abuse

The selling volume .....sharill just wonder how much you sell

Posted by DickyMe > 2021-12-09 16:58 |

Post removed.Why?

Posted by Nikmon > 2021-12-09 17:01 | Report Abuse

Group CEO is bumi, Group CFO is Chinese, COO is Bumi....

Posted by smartly > 2021-12-09 17:36 | Report Abuse

this kind of debt and cash burning company whoever come on board also die.
need miracle.

Posted by awesome20 > 2021-12-09 17:57 | Report Abuse

sharil still there or left ady?

Posted by masterkevin212 > 2021-12-09 18:17 | Report Abuse

According to 8/12/2021 from SAPURA - Sapura can produce gas at a rate of 34 kboe perday under their exploration segment.

I have asked the Dr. in oil and gas field, the calculation is around 34000 x USD75 = USD 2.55 million per day

Which means 365 days x USD 2.55 million = USD 931 million

Posted by masterkevin212 > 2021-12-09 18:19 | Report Abuse

I expected revenue of RM 3.9 Billion under this segment it self. We hope for the best.

Posted by Jonathan Keung > 2021-12-09 18:32 | Report Abuse

Huge spike in volume today. Either way ! At 5 sen how low can it go

Posted by drkelvin20 > 2021-12-09 18:33 | Report Abuse

Sapura OMV is a joint venture ...how much is the Sapura share in it?

Posted by skyu > 2021-12-09 19:40 | Report Abuse

dont mean rude but the calculation of gas production is totally wrong. you are taking crude oil price. sapura are producing natural gas of course crude oil is the by product. 34kboe is the gas equivalent. 1 barrel oil is about 5.6 mmbtu or 5.8k ccf. if rough and laymen calculation, they are producing around 700k usd value gas a day. 34k be is not big nor too small.

Posted by Nikmon > 2021-12-09 21:39 | Report Abuse

雲林離岸風場的工程進度因受到新冠肺炎影響而有所延誤，但是其國產化目標，包括陸域變電站，以及40部機組的水下基礎、水下基礎轉接段及塔架等風機三大重件不僅是準時達標

Seems like the 40 pillar installation has been completed after delay few times, not sure the remaining 40 big fan which target to install by mid of next year is still award to Sapura.

Posted by didi7349 > 2021-12-09 22:03 | Report Abuse

From what anuar rain mentioned in his interview with the edge last month.....At the final part,he mentioned that he is not an m&a guy,he is a delivery guy....So I guess the focus of the management now is to try to work on current project,focus on risk management n to deliver rather than corporate exercise like share consolidation n right issue....Just my 2 cents

Posted by Nikmon > 2021-12-09 22:58 | Report Abuse

With the 10 billion debt need to pay over the next 6 year, sell assets and fund raise through PP or RI is not avoidable

How to pay almost 2 billion a year after premium holiday end..

Posted by Nikmon > 2021-12-09 23:03 | Report Abuse

The 40 billion wing farm project will be game change for sapura, can ride on EV boom...but only if manage to overcome current liquidity issue...haha

Posted by hoot9e996 > 2021-12-10 03:13 | Report Abuse

DEBT RESTRUCTURING again hahaha

Posted by Jack Khan > 2021-12-10 05:52 | Report Abuse

Sapura don't have 40billion wind farm project! They only supply some component for the Singaporean's 40billion project

Posted by JuliusCeasar > 2021-12-10 08:38 | Report Abuse

Let's see morning session today!

Posted by iPlay > 2021-12-10 08:43 | Report Abuse

...Sapura should follow SD.... take legal action against OUB kay hian.... hahahaha

Posted by strattegist > 2021-12-10 08:52 |

Post removed.Why?

Posted by JoshuaMS7 > 2021-12-10 09:05 | Report Abuse

If break 0.045 today, might go forward to 0.030 next week.

Posted by kyliew > 2021-12-10 09:33 | Report Abuse

Are they going to announce QR result today?

Posted by BLITZRIEG > 2021-12-10 09:58 | Report Abuse

Ya….due for announcement this month for 3rdQR

Posted by Jonathan Keung > 2021-12-10 10:08 | Report Abuse

Don't expect any turnaround. PNB mgmt need to take charge of the operations no point winning bids at a loss

Posted by iPlay > 2021-12-10 11:38 | Report Abuse

..... has seen many stocks go from RINGGITSSS to Sens... seldom see from Sens to RINGGIT....(Sens = below 10 sens) especially stocks with Billions of NOSH..... but can happen.

Posted by Team01 > 2021-12-10 11:39 | Report Abuse

Sapura Energy drop is because of former CEO Botak every year he would give himself hi pay now he has run he use to give himself about RM 30 million monthly sapura can drop to o.o for all I care

Posted by BLITZRIEG > 2021-12-10 11:43 | Report Abuse

Ya….not expecting good figure….just want to know the recovery plan

Posted by cashflow > 2021-12-10 12:15 | Report Abuse

It would be national embarrassment to drown Sapura, being a mini Petronas from Malaysia. They way it’s going, we will lose our local O&G players if there is no proper governance, funding and investment.

Posted by citadel888 > 2021-12-10 12:32 | Report Abuse

very jialat