Posted by davidkkw79 > 2022-03-18 14:24 | Report Abuse

Wow ! Chun Chun Result ! Moon !
https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3243885

Posted by cashflow > 2022-03-18 14:40 | Report Abuse

5.3B on impairment alone. They are declaring hit on asset impairment to start afresh.

Posted by gogogolee > 2022-03-18 15:00 | Report Abuse

next sumatae,almost reach Holland

Posted by UlarSawa > 2022-03-18 15:00 | Report Abuse

Apahal net profit so much one. 6.6bil leh. limit up kambing lah. Correct?

Posted by UlarSawa > 2022-03-18 15:01 | Report Abuse

Ini macam PNB mau take private lah. boleh?

Posted by CITADEL > 2022-03-18 15:11 |

Post removed.Why?

Posted by Understand > 2022-03-18 15:23 | Report Abuse

Operational loss is high. Doesnt seem to able to sustain. Calling it a day.

Posted by Timmy Tan > 2022-03-18 15:30 | Report Abuse

drkelvin20, I tried to warn people that the NTA calculation was wrong and that the value that the company can get by force selling these assets will be a lot lower than book value.

Many kept going against me, some even insist that goodwill of RM4billion can be sold and should count towards NTA calculation.

Now that the banks waive the loan covenant, finally we get to see the true picture and true value of those assets.

Posted by Timmy Tan > 2022-03-18 15:36 | Report Abuse

Whoever kept saying I was wrong, look at the Net Assets per Share now, 2 cents! I was indeed wrong because I was too optimistic by saying 5 cents is the fair value.

Posted by CITADEL > 2022-03-18 15:56 | Report Abuse

byebye this sapura

Posted by DickyMe3 > 2022-03-18 15:58 | Report Abuse

Politicians piggy bank company.

Posted by Johnfatt > 2022-03-18 16:33 | Report Abuse

Sapura has immune against all the negative news see?

Posted by amirsyam > 2022-03-18 17:10 | Report Abuse

whatttt still 0.04 I thought it may hit 0.02.

Posted by Timmy Tan > 2022-03-18 17:27 | Report Abuse

Big players already expected the big impairment. Share price still above 0.02 because they value the company at a premium to its real net assets (not the inflated value before this recent impairment), maybe hoping PNB will come in to save Sapura or Sapura can monetise its gas fields at current high oil price environment.

Posted by Nikmon > 2022-03-18 18:01 | Report Abuse

Gas price so high but E&P still making loss.....what is going on...E&P should be not control subsidiarie of Sapura....

Posted by Timmy Tan > 2022-03-18 18:13 | Report Abuse

Write-off of certain wells, meaning they spent money to drill but didn't find any oil/gas that can be commercialised.

Posted by Timmy Tan > 2022-03-18 18:24 | Report Abuse

Chill drkelvin20, I am merely responding to Nikmon's question on why E&P making losses. Anyway, the E&P joint venture losses are insignificant compared to the losses that other divisions are making.

I am someone who used to work in the O&G industry. Sapura tries to take on a lot of overseas contract like in India and Taiwan to create the impression that they are expanding internationally but they screwed up badly. And they keep delaying payment to subcons but still can pay the big boss fat bonuses and IP payment, end up all the good subcons don't want to do business with them anymore or request cash on delivery, making their cash flows even worse.

Posted by drkelvin20 > 2022-03-18 19:59 | Report Abuse

Thanks Timmy for insights...anyway, nothing much can be done. Just bear with it....

Posted by Nikmon > 2022-03-18 20:01 | Report Abuse

Some oversea company also facing same challenge like SAIPEM, in Malaysia OnG sector are worst as Petronas is bullying oil service sector. MHHB, Velestor all are still struggling not mention about some already PN17 like Bara , TH heavy.

Withe chaos created by previous regime, 100million pay slip, non profitable contract, over expand, covid impact. The new management still able make the company stay afloat...I believe it is not an easy job.

Posted by gohkimhock > 2022-03-18 20:07 | Report Abuse

the next candidate to join PN17 club?

Posted by UlarSawa > 2022-03-18 22:00 | Report Abuse

King Shahril must be very sad leh. When he retired from the CEO post. He said he can sleep well with the new CEO n his team leh. Mana tau new CEO n his team managed Spanrg sampai left NTA 2sen only. King Shahril must be very sad now leh. His balance shares pun macam toilet paper value leh. He retired from billionaire become millionaire only leh. Correct?

Posted by taihai > 2022-03-18 22:11 | Report Abuse

how to earn ?? how to loss ? easy la . if i am chairman?

Posted by freddiehero > 2022-03-18 22:18 | Report Abuse

tats why I have said my money just donate to king of shahril Lo..

Posted by freddiehero > 2022-03-18 22:18 | Report Abuse

mana itu mini petronas can not printing money liao ka kakaka..

Posted by ahbah > 2022-03-18 22:33 | Report Abuse

https://www.youtube.com/watch?v=7hx4gdlfamo&list=RD0ZIoriMyLqM&index=3

Posted by Stockhunter88 > 2022-03-19 00:39 | Report Abuse

Crazy 6b losses per quarter can still hire a leader with 5.9m/month..

Posted by skyu > 2022-03-19 06:14 | Report Abuse

Timmytan, the impairement loss, how did they come out with such a huge number ? Is this reversible ? The 50 % stake in the sapuraomv still able to fetch his much of the value ? Do u think the pnb is in any position to rescue the company at this juncture ?

Posted by noah > 2022-03-19 11:50 | Report Abuse

for those interested to know more detailed insight btw management & analyst.
the analyst did asked about this kitchen sinking exercise in q4

https://www.sapuraenergy.com/wp-content/uploads/2022/01/Analyst-Briefing-Sapura-Energy-FY22-Q3-Transcript-1.pdf

Posted by noah > 2022-03-19 11:55 | Report Abuse

https://www.businesstoday.com.my/2022/03/10/pnb-exposure-to-sapura-energy-less-than-1-of-aum/

In view of the situation, PNB is assuring its unitholders that the situation at SEB has a minimal impact on its portfolio.

At current market prices, its exposure is less than 1% of its assets under management (AUM). PNB adds it remains steadfast and committed to. protecting and acting in the best interest of its unit holders.


Does it sounded more like PNB will pump in more money into Sapura or just write it off from the book under worst case scenario?

Posted by skyu > 2022-03-19 13:45 | Report Abuse

Thanks Noah, I did finished reading the script. Seems like all the big guns in the company doesn't give a clear answer on all the questions asked, I could he very wrong judging like this since I am not finance person.

Posted by skyu > 2022-03-19 13:46 | Report Abuse

Since pnb said it is lesser than 1% of their portfolio probably they will just write off. I think this company very highly go busted just like thheavy. Habis all my gambled money on this

Posted by Runnerup > 2022-03-19 14:00 | Report Abuse

how come this so called genius's operated company ....

Posted by UlarSawa > 2022-03-19 15:37 | Report Abuse

Once upon a time Someone said Janda Sapura is Mini Petronas. Now pun confirmed chopped macam not true leh. Correct?

freddiehero

mana itu mini petronas can not printing money liao ka kakaka..

17 hours ago

Posted by noah > 2022-03-19 16:49 | Report Abuse

skyu
yup.. the transcript is very detailed and would be helpful for every investor here...

seemingly when direct probing question being asked by multiple analysts, they more like avoiding answering the actual question but pusing around with words..

1 analyst did state about this kitchen sinking exercise in Q4 and since there is an impairment of 212 millions happened, they are worried of the assets and goodwill quality. from the transcript, management fail to addressv the analyst worries

Posted by armadatuah2017 > 2022-03-19 16:53 | Report Abuse

really no hope la...their drilling division is killing

Posted by armadatuah2017 > 2022-03-19 16:54 | Report Abuse

the division that was acquired from Seadrill

Posted by Nikmon > 2022-03-19 18:18 | Report Abuse

From the latest result, drilling seems like picking up, but E&C is the one lose the most and still struggling, just wonder would they sell off E&C or E&P.

If they manage to restructure the debt from vendor, next Q probably can break even....return to profit may another 2 Q I guess.

Posted by rr88 > 2022-03-19 21:51 | Report Abuse

9 Billions$ loss. Billion with a B.
Close shop soon. Share price going to zero.

Posted by UlarSawa > 2022-03-19 23:40 | Report Abuse

You everytime QR out you cakap next one or two qtrs will turn profitable lah. Macam pun sudah many qtrs cakap pun takda correct leh. How to settle the high debt 10.6bil and hutang trade payable 3.7bil. Takda upfront cash payment they will not bother to supply oe work for you leh. Siapa ada common sense still will want to supply base on payment term kah. Hutangvtak bayar lagi mau supply kah Correct?

Nikmon

From the latest result, drilling seems like picking up, but E&C is the one lose the most and still struggling, just wonder would they sell off E&C or E&P.

If they manage to restructure the debt from vendor, next Q probably can break even....return to profit may another 2 Q I guess.

5 hours ago

Posted by UlarSawa > 2022-03-19 23:45 | Report Abuse

Nanti mau bincang with banker to cut the payment like owe rm1 payback only 5sen. Ini macam if bankers can accept baru ada chance lah. Then suppliers contractors pun sama juga owe rm1.00 pay 5sen. Then baru can settle all the debt lah. Only hope this to happen lah. PNB pun takda bother cakap sapnrg only 1% of PNB portfolio. Just write off only lah. Correct?

Posted by Nikmon > 2022-03-20 11:31 | Report Abuse

Haha, anyone can check back my comment easily, since Q322, Im already become pessimistic that it won't start recovery mode in 6 months at least...

This ular as a Sharill supporter....I believe most of the genuine investor well aware about the 100 million pay slip took by ex CEO who brought SE to Holland....

Posted by Understand > 2022-03-20 14:02 | Report Abuse

King shahril. Lol..

Posted by noah > 2022-03-20 15:28 | Report Abuse

From latest QR, my personal opinion, the trigger is inevitable without any capital injection or restructuring. (early to late Jun 2022)

Why?

PN17 criteria:
"shareholders' equity of the company on a consolidated basis is 25% or less of the share capital (excluding treasury shares) of the listed issuer AND such shareholders’ equity is less than RM40 million."

Share capital 10,872,078m
Total equity 254,177m
Current equity is only a mere 2.3% of share capital.
Lucky them their equity still above RM40m, current stood at RM254m.

However, this won't last long.

Look at the total equity trend from Q1 to Q4 2022:
8,943,307 -> 7,658,687 -> 6,843,468 -> 254,177

So only another 214,000 to go before trigger the criteria.

Secondly,
Annual Audited account will be released in early June.

We can only make a guess whether will their external auditor raises material uncertainty relating to going concern.

So yeah, it would be either early Jun or late June.
one way or the other.

Posted by David Gunter > 2022-03-20 16:24 | Report Abuse

PNB’s former CEO was right this is a useless investment

Posted by UlarSawa > 2022-03-20 16:57 | Report Abuse

Ular ada cakap leh. King Shahril is Sapnrg. Sapnrg is King Shahril leh. Sapnrg without King Shahril kenot survive leh. Now proven those took over the helm kenot help Spanrg to survive leh. They mana tau Sapnrg like King Shahril lah. If King Shahril still at helm maybe Sapnrg wont be like now leh. Now nasibsudah jadi bubur apa lagi mau complaint lah. You all cakap Sapnrg without King Shahril will be better mahm Now proven pun wrong lah. Correct?

Nikmon

Haha, anyone can check back my comment easily, since Q322, Im already become pessimistic that it won't start recovery mode in 6 months at least...

This ular as a Sharill supporter....I believe most of the genuine investor well aware about the 100 million pay slip took by ex CEO who brought SE to Holland....

5 hours ago

Posted by UlarSawa > 2022-03-20 17:00 | Report Abuse

No one that know Sapnrg more than King Shahril leh. Who can fill his shoe in sapnrg. Those so called professional working in Petronas or oil giants know sapnrg business kah. They mana tau lah. If tau sapnrg wont be like now already lah. Better beg King Shahril to comeback maybe still ada sikit hope to recover leh. Correct?

Posted by koyokui > 2022-03-20 17:27 | Report Abuse

https://www.facebook.com/100044428416531/posts/531607251663551/?d=n

Posted by kyliew > 2022-03-20 18:21 | Report Abuse

Khazanah via Petronas hopefully can take over PNB because they are more familiar in the industry

Posted by kyliew > 2022-03-20 18:22 | Report Abuse

Bossku dah mula bersuara

Posted by remomama94 > 2022-03-20 19:09 | Report Abuse

Khazanah already hv bleeding malaysia airline in hand dont think will consider another bleeding asset...najib thinks he is elon musk anything he tweet becomes hype...lets see tmrw price will it meet nta price or nt