Job executed and never pay a cent to subcon or suppliers. All the payment received from client upon job completion goes into director's bonuses. Very similar modus operandi as Serba Dinamik. They're bidding contracts/jobs at below market rates to get awarded just to boost their share price.
Yeah but not 12-18 months late. To withhold a subcon's payment of RM 6mil for 12-18 months is crazy. Imagine those money put into other investments can generate more positive rather than doing business with Sapura energy.
Rilek ... ada aset gas asli SK408, 310. Bila Jerun siap, semua aset ada 200kboed. Harga spot skrg non-heating season $150. Harga skrg $95 pun cantik sgt. Tanpa Jerun aset sepatutnya ada 100kboed. Kena tanya Management kenapa skrg 30kboed saja. Mungkin ada sikit masalah teknikal ... Saudara bolehlah kira keuntungan ... cukup senang saja. Jerung semua x cakap pasal aset gas asli ... Bank bukan bodoh tak bagi loan. Skrg rasanya nego saja, gas asli tu green energy. Jualan aset lebih lama tunggu lebih best pasal harga minyak skrg $95. Pak Somsak pi minum kopi O skrg ...
Pak Somsak, nak orang cakap fakta dan data, kamu sendiri kena bagi fakta yang betul dulu. Sejak bila harga gas asli sama dengan harga minyak? Boleh buat carian google, harga gas asli sekarang ~4.2580/mmbtu, atau pun ~24.7/boe. Lagi pun, aset gas dah jual separuh kepada syarikat OMV dari Austria, dah jadi "joint venture", keuntungan kena bahagi separuh, duit di "joint venture" pun bukan suka-suka boleh guna, kena minta izin OMV. Masalah Sapura sekarang bukan tak ada aset yang bagus, tapi tak ada duit sebab banyak projek dulu kantoi. Kenapa bank lewat bagi loan? Sebab bank pun risau Sapura tak mampu nak bayar balik, sebab nisbah hutang kepada ekuiti dah melampau tinggi.
Silap taip : harga LNG Jepun Korea Marker Platts skrg $150 (futures). Mahal sgt banding harga $95 skrg. Memanglah sudah jual 50% kpd OMV cerita lama. Saudara Timmy, silalah buat kiraan keutungan dan bahagi 2. Tak cukup?? Memang cash flow rumit skrg tapi PNB tak lepas tu saja.
Haiya, dunno what's more sad. That news of payment default come out ( what happen to you Sapura, what is management doing to let it come to this, this situation is not overnight ) or that fact that such a news cannot even more the share price cause people already give up?
I hope one day to see Sapura fly again. I believe in you, you can do it !
Pak Somsak, mana kamu dapat harga future $150 itu? Yang saya nampak (investing.com, cmegroup.com) semua $20+ sahaja. Tak payah buat kiraan pasal aset gas ini. Saya tak pertikaikan kualiti aset ini sebab ia memang antara yang paling bagus. Tapi tak boleh nak tolong Sapura dalam jangka pendek, sebab kena ambil masa panjang untuk bina platform dan keluarkan gas. Kalau nak jualkan 50% yang tertinggal pun, kena ambil masa cari pembeli dan minta persetujuan Petronas macam dulu. Pasal PNB, ya la, semua pemegang saham pun harapkan PNB selamatkan Sapura, tapi kenapa ambil begitu lama untuk buat pengumuman sedangkan Sapura dah sampai tahap kritikal? Makin lama PNB dan bank ambil, makin teruk keadaan Sapura.
Timmy, kena convert mmBtu -> boe. $20+ semua dlm mmBtu. Bahagi saja dgn 0.18 dpt boe. Aset gas E&P tu cashcow ... kena simpan. Yg patut jual Drilling harap2 pd harga $95 dpt cover bank loan.
Sapura Energy's financial health seems to be deteriorating further
He noted, however, that the company is likely unable to tap into new financing. "Its asset sale will be key [to support its cash flow]," the analyst said.
Others, however, pointed out that potential buyers would likely push for fire sale prices, especially as the cash-strapped company struggles to obtain fresh funds from both banks and the capital markets.
Among the five subsidiaries served with the petitions, Sapura Offshore Sdn Bhd is the parent of several units which own the group's vessels. These include its pipe laying vessels Sapura 1200 and Sapura 3500, as well as its float-over launch barge Sapura FLB-1.
"In the worst case scenario, [its 40% parent] Permodalan Nasional Bhd (PNB) could either let it go, or privatise the company. The question is would PNB inject more funds [after the RM2.68 billion injection in 2018]?" the senior analyst said
takling about HK Genting lost 2.5 billion.. this Sapula also makes A5B, and other GLC losing more than 5 Billlion !! .. why nobody cares??..becoz its a bumi co,,pany, con by bumi CEO and executives, ..
Management can go sell pisang goreng if cannot revive this company. Oil and Gas price soaring high. They should work out positive deals, like consortium, etc, attract investors
Any business survivability is based on cashflow and cost control. This company could have done better balancing its books. They had good pipeline and awards, but poor bottom line management and sell ups of contracts in hand. Maybe they lack proper competencies
1. For the past few years, the CEO only draw around 100 million yearly, use private jet and other benefits, and don't don't forget 10 million yearly pay to Sapura group for using the name 'Sapura', there may have other leakage through crony..
2. On top of those problem done by previous management, covid cost has exacerbated the situation, operator don't want pay the claim, subcontractor also don't want to pay the covid additional cost. Project delay caused by closed down and additional cost from supply chain issue.
Without the first issue faced by Sapura, MHB, SAIPEM and other still struggling to turn around as at today
Not that I think the company may turn around, but the new management lead by AT have done a good job to keep the company afloat and contain the issue within Malaysia. Last Q still manage to win a billion jobs under circumstances.
Not easy lah, AT has done super super good job leh.
By Alex Longley+Follow February 17, 2022, 3:52 AM GMT+8
Forget the futures market, the world’s most important oil price just smashed through $100 a barrel with every sign it is going to push higher. Dated Brent, the price of cargoes bought and sold in the North Sea, reached $100.80 a barrel on Wednesday for the first time since 2014, according to S&P Global Platts, the company that publishes the marker. Price spreads in the futures market are pointing to one the tightest markets ever.....
With the contracts they have and the brent oil price, they will be able to restructure. Even shell made a loss of $21.5 B in 2020.Shell sold off some assets / restructured and now the share price more than doubled. Oil & Gas is going to be a vibrant market over the next few years as supply is limited and demand will only increase as the world swings back into gear as covid dissipates.
yes, fluffyclouds. with eu re-designating NG as green, upstream capex will start flowing once again. there is a lag from the time policy decision is made to when capex starts flowing; sapnrg needs to wait, perhaps 5-8 quarters more
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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....
koyokui
1,943 posts
Posted by koyokui > 2022-02-15 09:41 | Report Abuse
Buy they will push once they get .045 price. Is happening now