Posted by UlarSawa > 2022-04-03 08:57 | Report Abuse

CEO cakap no equity fund raising at the moment. Apa meaning. No RI no PP kah. Ini macam PNB not going to pump more money in kah. Better choice is banks haircut to reduce debt n sell asset to raise money as working capital. No other choice already kah. Ini macam banks need to do their part to keep the company afloat lah. Gorment of the day pun susah sikit if want to bailout the sinking ship leh. Will this affect the GE 15 result or not. Hard to say also leh. Correct?

Posted by paulthesotong > 2022-04-03 08:58 | Report Abuse

Fantastic.. Let's bankers take the latest fashion 2022 "Mohawk" haircuts.

Posted by Alistino G > 2022-04-03 12:23 | Report Abuse

Boleh, Boleh. In the first step, the management must take a 50% pay cut. Their neurons and glial cells in the brain have failed in managing the company, pampered with a very high salary. With a 50% salary and % commission on profits sharing, those xxxxxx would then manage the company to a profitable path.

Posted by Tobby > 2022-04-03 12:35 | Report Abuse

Face the reality! Saprng cannot be savaged! Close shop! Let creditors get the leftovers!

Posted by newguy0801 > 2022-04-03 12:51 | Report Abuse

Salvaged*

Posted by UlarSawa > 2022-04-03 13:50 | Report Abuse

Not really lah. Sell asset still can lah. with bank haircut still can survive lah. Now is what typr of asset Sapnrg willing to let go without any gorment help at all. Not until last minit still ada hope lagi lah. Need to benar benar berani anbil parang potong tangan atau kaki in order to survive lah. Cannot dilly dally leh. The longer it take the harder to survive leh. Correct?


Tobby

Face the reality! Saprng cannot be savaged! Close shop! Let creditors get the leftovers!

1 hour ago

Posted by Alistino G > 2022-04-03 14:28 | Report Abuse

Tobby, How many more are you collecting tomorrow?

Posted by Armanhashim > 2022-04-03 14:55 | Report Abuse

Sumantec ?

Posted by OKU_2020 > 2022-04-03 16:12 | Report Abuse

Tobby
Face the reality! Saprng cannot be savaged! Close shop! Let creditors get the leftovers!
------
Beyond Repair - Pergghhh

Posted by bish_bish > 2022-04-03 20:44 |

Post removed.Why?

Posted by Mabel > 2022-04-03 22:30 | Report Abuse

Nice to see Comrade masterkevin212 is here and Mabel think what he said make sense. He was spot on in KNM..

Let’s recap on the possibilities moving forward:

Option 1 : G offer loan Guarantee to Sapura

Former prime minister Najib Razak insists that the government offer a loan guarantee to Sapura Energy Bhd in order to save its oil reserves from falling into foreign hands before its full potential can be realised. He said the company’s subsidiary, Sapura OMV, owned oil and gas reserves of 264 million barrels with a gross value of RM110.8 billion.

If the subsidiary is put up for sale, as is being speculated, Sapura’s joint venture partner OMV of Austria, would likely be the first-choice buyer as it already holds a 50% stake in Sapura OMV with the remaining 50% held by Sapura Energy.

This is why I urge the government to offer a loan guarantee to Sapura so that the oil reserves remain in Malaysian hands,” he said, giving as an example a RM500 million guarantee granted to AirAsia last year. he said. Sapura OMV operates oil fields in shallow Malaysian waters. Najib said the sale of highly valuable long-term assets to solve short-term cash flow problems was unreasonable and detrimental. That's why najib insists this reserve not to fall under foreigner and wanted government to give loan warranty.

Let's say 10.3 billion x 25% = 2.6 billion still the outstanding. Disposal of SapuraOMV 50% worth ( 2019 sold at 3.8 billion when oil price 70usd) current 105usd can raise 5.7 billion and can settle bank loan 2.6 billion = surplus 3.1 billion and pay outstanding vendors = 1.5 billion.

Sapura Nett balance in cash = 1.6 billion use for working capital. Sapura's intention is to clear all debts and re-negotiate on going 6 projects + new projects to kick off soon.

Overall, Sapura will be free of debts holding 1.6 billion working capital and i think Petronas will inject more jobs to Sapura. I think the next 2 quarters Sapura will writeback its impairment loss from big loss to big gain.

Option 2: Alternatively, the government could direct Petronas to take over ownership of Sapura Energy.

If this can be achieved, Sapnrg will definitely fly to Mars...

To Our Success !

Captain Mabel Meow

Posted by Understand > 2022-04-03 22:47 | Report Abuse

How come the i3investor like an animal kingdom. Got Zirrafe, cat , anakonda,polar bear, orang putih, sotong and mickey.

Posted by Mabel > 2022-04-03 23:07 | Report Abuse

Hahaha...

Anyway the Best Option is still Option 2...

Meow

Posted by Mabel > 2022-04-03 23:07 | Report Abuse

Capitalising on high Brent Price...

Posted by Mabel > 2022-04-03 23:11 | Report Abuse

#Tobby Face the reality! Saprng cannot be savaged! Close shop! Let creditors get the leftovers!
03/04/2022 12:35 PM

Once upon a time, many said Armada was beyond repair...
Once upon a time, many said Icon Offshores was beyond repair...

Now both Battleship ok oledi..

Captain Mabel Meow

Posted by UlarSawa > 2022-04-03 23:16 | Report Abuse

Petronas sudah denied ada gorment instruction to bailout Sapnrg leh. Sudah terang terang announced leh. Option available the CEO is doing it now leh. Bank haircut and sell asset to raise fund for working capital leh. You kenot keep asking for not possible option also leh. Need to shrink down the operation become slimmer also leh. Need to concentrate what Sapura punya strength leh. Correct?

Posted by newguy0801 > 2022-04-03 23:17 | Report Abuse

Mabel, Icon Offshores not a battleship, okay? When compared to the scale of Sapura, it is just a small vessel.

Posted by newguy0801 > 2022-04-03 23:18 | Report Abuse

Mr Python, they sure will tell you: They now deny doesn't mean they won't run a bailout in the future.

Posted by Mabel > 2022-04-03 23:23 | Report Abuse

#newguy0801 Mabel, Icon Offshores not a battleship, okay? When compared to the scale of Sapura, it is just a small vessel.
03/04/2022 11:17 PM

Of course...It's a smaller vessel compare to Sapnrg...

Icon Offshore is in mid stream business
Sapnrg is doing Upstream and Downstream

If Armada and Icon can do it so can Sapnrg...

Meow

Posted by Mabel > 2022-04-03 23:29 | Report Abuse

Yes Lah...

Anything can happen in Malaysia...

Posted by Mabel > 2022-04-03 23:30 | Report Abuse

Good Night everyone...

Time to sleep like a baby...

Meow

Posted by Mabel > 2022-04-04 05:56 | Report Abuse

Sapura OMV, owned oil and gas reserves of 264 million barrels with a gross value of RM110.8 billion.

This is indeed a National Treasures..

Petronas your motivation is to protect our National Heritage. Please rise to the occasion. Brent is now at its best. There's nothing to lose. Just replace all the Top Management and used your expertise to turn around this company..

Stable Cash Runway: Whilst unprofitable SAPNRG has sufficient cash runway for more than 3 years if it maintains its current positive free cash flow level.

Forecast Cash Runway: SAPNRG is unprofitable but has sufficient cash runway for more than 3 years, even with free cash flow being positive and shrinking by 54.1% per year.

To our success

Mabel Ewing..

Posted by Mabel > 2022-04-04 06:00 | Report Abuse

Option 2 is the best Option with Petronas take over and fired all the BOD and top Mgmt first as they all have now become irrelevant. Recap Sapura ketika ini..

- Syarikat perkhidmatan minyak dan gas terbesar Malaysia dan asia berdepan risiko muflis;
- kita juga kehilangan satu lagi syarikat MNC dari Malaysia yang sedang dan pernah melaksanakan projek besar di lebih 20 negara
- PNB sedang rugi RM4b hingga RM5b;
- Lebih sepuluh ribu pekerja Sapura dan vendor-vendornya bakal dibuang kerja
- beribu-ribu syarikat PKS vendor-vendor Sapura terjejas dan tidak menerima bayaran sejak setahun lalu.
- ekosistem O&G negara yang telah dibina sejak 1974 berdepan risiko runtuh dan kita juga akan kehilangan ramai bakat dan kemahiran dan mungkin kita juga terpaksa bergantung kepada kepakaran luar seperti diulas Majlis Perkhidmatan Minyak dan Gas Malaysia
- bank-bank tempatan yang dimilik tabung-tabung simpanan Rakyat seperti KWSP dan PNB akan terdedah kepada risiko kerugian pinjaman RM10 bilion Sapura.

Posted by UlarSawa > 2022-04-04 08:31 | Report Abuse

What a laughing stock PNB with 300bil AUM need someone else to bailout leh. Mana muka mau taruk lah. EPF only left berapa percent only holding. Sikit only lah. EPF pun earned alot from bursa every year leh. Lose a bit need to kaw peh kaw bu kah. So memalukan leh if lose sikit pun mau bailout kah. Apa ni. Mau invest in bursa company tak mau accept the risiko one kah
Then what happen to retailers lost un many bursa listed companies so far ada bailout by gorment kah. Takda leh. Retailers pun accept the risiko also and accept the losses leh. Correct?

Posted by Mabel > 2022-04-04 09:47 | Report Abuse

Enough of PNB..

Petronas more power..Mercedes won 8 concencutive F1 Championship beating Ferrari, Honda, Macclaren etc etc...

Do you know why?

The answer is Petronas..

Mabel Hamilton..

Posted by UlarSawa > 2022-04-04 10:18 | Report Abuse

Petronas ada own job to do leh. Itu Gorment punya Cash Cow leh. Gorment need the milk from Petronas one leh. Cannot absorb all the not performing assets also leh. Better leave it to PNB to settle it lah. Not that PNB kenot handle this small matter right. It give a bad impression if kenot settle it leh. PNB many professionals duduk atas sana mah. If not how to grow so big with 300bil AUM leh. Sikit sikit setback is also good leh. Need to grow up like this leh. Correct?

Posted by strattegist > 2022-04-04 11:37 | Report Abuse

nguit nguit je...

Posted by Mabel > 2022-04-04 11:48 | Report Abuse

Mabel don't trust PNB..

Mabel trust Petronas..

More handsome

Posted by UlarSawa > 2022-04-04 12:09 | Report Abuse

Petronas and PNB are 2 different entity leh. Siapa duduk atas also want to achieve their own KPI leh. If you are Petronas top gun are you willing rescue Sapnrg or not. Without Gorment insist to rescue ingat Petronas pun dont want it lah. Unless the the banks agree to have a hefty haircut lah. If bank agree to the haircut then why PNB still need petronas rescue lagi kah. PNB can settle it also leh. Correct?

Posted by kyliew > 2022-04-04 13:35 | Report Abuse

Anwar in FB just posted he will accept the debate challenge with bossku

Posted by bish_bish > 2022-04-04 14:22 | Report Abuse

Anwar very ngam to play the role of Dr Mann, he (Dr Mann) thought he can save mankid, but he exploded himself at first, and causing the space station spin out of control and has to be salvaged, otherwise all can visit Holland.

https://www.youtube.com/watch?v=a3lcGnMhvsA

Posted by bish_bish > 2022-04-04 14:37 | Report Abuse

by the way, Petronas ngam playing TARS, TARS may voice out all its best calculated results (possible or not possible to save), at the end it will obey to Copper only and do the best when instructed to do so.

Posted by strattegist > 2022-04-04 15:14 |

Post removed.Why?

Posted by OKU_2020 > 2022-04-04 16:13 | Report Abuse

frog dead / mati katak

Posted by i3lurker > 2022-04-04 21:11 | Report Abuse

the solution is for Sap Sap Sapura to takeover Petronas at RM1.00

Once Petronas is a 100% subsidiary of Sapura all Sapura staff can increase salary by 100%
and every year Bonus is 12 months.
1 Bentley and 1 Helicopter for every Sapura Director
All Sapura Directors gets new house worth RM76.4 million just like the Bedouin.

Posted by paulthesotong > 2022-04-04 21:43 | Report Abuse

Why do GOM wants to save this company that sound like Japanese?

Posted by i3lurker > 2022-04-04 21:52 | Report Abuse

Thats a lie

Sapura is actually saving Petronas ... from giving money to Government of Malaysia
once Petronas belongs to Sapura, all will be saved, no more wasted funds with no accountability.
We will know where the money went. Thats saving money

Posted by Understand > 2022-04-04 22:00 | Report Abuse

Orang putih where have you been.

Posted by amirsyam1001 > 2022-04-04 22:46 | Report Abuse

PublicInvest Research Headlines - 4 Apr 2022
Source : PUBLIC BANK, Price Call : TRADING SELL, Price Target : 0.03
Last Price : 0.04, Upside/Downside : -0.01(25.00%)

Posted by trojanboy > 2022-04-04 23:09 | Report Abuse

https://thecoverage.my/9-banks-asked-to-write-off-rm-7-6-billion-sapura-energy-debts/

Posted by i3lurker > 2022-04-05 00:02 | Report Abuse

The amount now is just too big

The only solution now is for Sapura to takeover Petronas for RM1.00
plus
Takeover all of Putrajaya and Cyberjaya for RM1.00, then all Govt Agencies and Ministries pay monthly office rental to Sapura.

QED

Posted by Godofgambler > 2022-04-05 00:26 | Report Abuse

https://www.google.com/amp/s/www.bharian.com.my/amp/berita/nasional/2022/04/942400/najib-anwar-debat-isu-sapura-energy

Posted by Mabel > 2022-04-05 05:29 | Report Abuse

The financiers involved in the multi-currency facilities (MCF) agreement are Maybank Islamic Bank Bhd, CIMB Bank Bhd, RHB Bank Bhd, AmBank Islamic Bhd, Export-Import Bank of Malaysia Bhd, United Overseas Bank Ltd, ING Bank, Standard Chartered Bank and Sumitomo Mitsui Banking Corp.

Analysts contacted by The Edge say they do not think the troubles at Sapura Energy would significantly impact the banks involved.

“Sapura is not a new account and the development is not fresh per se. They [banks] have been putting in provisions even before this [latest development]. So the level of provisions should be sufficient,” says Hong Leong Investment Bank analyst Chan Jit Hoong.

He adds that the banking sector has cut down its exposure to oil and gas companies since the last downturn.

Posted by Mabel > 2022-04-05 05:30 | Report Abuse

https://www.theedgemarkets.com/article/will-banks-see-earnings-drag-sapura-quarters-ahead

Posted by Mabel > 2022-04-05 08:19 | Report Abuse

Once the darling of investors with its impressive fleet, it could now fall into the Practice Note 17 category of financially distressed companies.

Now Najib and Anwar want to dance with Sapura

i3lurker you just came back from Holland ke?

Meow

Posted by Mabel > 2022-04-05 08:24 | Report Abuse

Let's see who is more smart, handsome and Charming to find a solution for Sapura..

Let's see who is a better kisser to turn Sapura into a Princess. Currently Sapura is as ugly as a toad..

Princess Meow..

Posted by OKU_2020 > 2022-04-05 09:45 |

Post removed.Why?

Posted by Understand > 2022-04-05 10:14 | Report Abuse

2020 i think Meow is not talking about you.

Posted by JoshuaMS7 > 2022-04-05 10:59 | Report Abuse

a big player joining the party now?

Posted by Runnerup > 2022-04-05 11:23 | Report Abuse

goreng goreng goreng, later masak masak masak . sampai kaput-ra.