Posted by billionman > 2022-06-14 14:52 | Report Abuse

how to be competitive..burning cash no money to operate? begging for bail out aftrt bail out?

Posted by billionman > 2022-06-14 14:58 | Report Abuse

confidence level given ...too low...rate of success depends on things that beyond SE control...poker face begging for life line howw?

Posted by r12047 > 2022-06-14 15:07 | Report Abuse

I am laughing at these people. They say SE is not good and I believe they must have disposed all their shares in SE..but posting every other minutes on SE with all super duper analysis without fail...something wrong somehere!

Posted by cicakman > 2022-06-14 15:08 | Report Abuse

Old newspaperrrrr..surat khabar lamaaaa.

Posted by OKU_2020 > 2022-06-14 15:26 | Report Abuse

getting Lembiq liao

Posted by billionman > 2022-06-14 15:40 | Report Abuse

SE can plan ..telling stars and moon..but as investors no guarantee it will succeed ? why? a few bail outs after to bail after bail out..nothing constructive happens.....except continue to sell sweetens .. If this is the modus operandi ......it..seems not competitive and not much of ...?? merely selling points of theory and planning...proven many times fail after fail..how to convinced investors and funders......promise after promise ..even default payments to bankers ..vendors etc... and is forever sinking deeper..no bottom... be futile. ..Most big boss abandon ship...new big boss come in....with networking etc..hope hope ...sweetens again.......... last last hopeless...waiting for life line fm others hayaaaa

Posted by strattegist > 2022-06-14 16:35 |

Post removed.Why?

Posted by cicakman > 2022-06-14 16:58 | Report Abuse

Unless I can proof billion is wrong,then I m not wright.

Posted by cicakman > 2022-06-14 17:00 | Report Abuse

Today winner goes to TRexx - hmmm...saprng in ICU.

Posted by OKU_2020 > 2022-06-14 17:02 | Report Abuse

ICU ?
#Azab.....

Posted by cicakman > 2022-06-14 17:10 | Report Abuse

Sementara ini tidak di tidurkan tetapi memerlukan bantuan pernafasan.
Paru2 penuh dgn Virus C19 and science says,Virus will never die cz it is not alive.

Posted by TRexxx > 2022-06-14 17:27 | Report Abuse

Haha... Need ventilator to support life. SE still unconscious

Posted by Ninth007 > 2022-06-14 17:40 | Report Abuse

ADDRESSING OUR OPERATIONAL AND FINANCIAL CHALLENGES

The challenge for our project teams is to deliver on promises to clients, while maintaining profitability in these projects, In FY2022, this has not always been possible.

Almost all our loss-making projects were from contracts won prior to the pandemic, which imposed onerous terms and did not include unforeseeable costs brought about by COVID-19 restrictions. Pandemic-related project delays, higher material and implementation costs, and global supply chain disruptions have resulted in Sapura Energy incurring operating losses in the financial year under review.

Cash flow constraints were made worse following our lenders' decision to severely curtail the use of our working capital facilities since October 2021. This has forced Sapura Energy to utilise internal resources to finance projects. Cash flow constraints have resulted in missed payments to vendors, with overdue payables amounting to more than RM1 billion by end FY2022. Addressing these financial and operational issues is our key priority as we move forward.

Posted by polycarp > 2022-06-14 17:55 | Report Abuse

https://youtu.be/EfRwUj6hxuM

Posted by OKU_2020 > 2022-06-14 18:18 |

Post removed.Why?

Posted by cicakman > 2022-06-14 18:29 | Report Abuse

Waaa..Guangxi Grandma wth Dudu setting traps to catch small fish/shrimps to goreng as snack.

Posted by RWG > 2022-06-14 18:46 | Report Abuse

lucky sell 6.5sen, heng

Posted by Ninth007 > 2022-06-14 19:00 | Report Abuse

OUR STRATEGIC RESET PLAN

In December 2021, the Board announced the establishment of BRTF to provide oversight and support to the Management Team as they embarked on its Reset Plan. The Reset Plan aims to restructure Sapura Energy and overcome immediate financial and operational challenges.

The BRTF, and various workstreams under the taskforce, reviewed the Group's capital structure and financial framework, as well as its operating model and future business direction. The Reset Plan sets out these objectives:

Rebuild our balance sheet by improving the Group's capital structure and financial framework, including reducing unsustainable debt and resolving aged payables:

. Enhance Operational Excellence through the principle of 'Bid Right, Execute with Discipline. This entails refocusing our bid funnel based on capabilities and risk appetite, improving productivity and project execution discipline, and implementing a more robust risk management framework;

Renegotiate contracts with key clients to ensure projects are at minimum cash neutral or better; and

Chart future business direction by reviewing the Group's portfolio and organisation, to rationalise core businesses in line with energy transition plans.

The BRTF has already made early progress in the implementation of these plans.

We have improved our financial management by focusing on cash generation and profitability, rather than headline revenue. Working with independent advisors, we have also rebuilt our financial infrastructure to give us better visibility into our cash flow, even down to the project level, and to provide better insight into where our costs are.

Additionally, in March 2022, the High Court of Malaya ("the Court") granted Sapura Energy and 22 of its wholly-owned subsidiaries Orders under Sections 366 and 368 of the Companies Act 2016. With these orders in place, the Group is negotiating with creditors, to consider and approve a proposed SOA as part of its debt restructuring plan.

The Court also granted Sapura Energy a Restraining Order ("RO"]) to stay legal proceedings against us, which will help the Group engage with creditors without disruption to operations. Additionally. our lenders also agreed to a standstill during the period of the RO.

The proposed SOA, if approved by the creditors and sanctioned by the Court, will enable the Group to carry out its proposed debt restructuring and provide a firm framework for fair and equitable resolution to our creditors.

As part of the standstill agreement with our creditors, Cosimo Borrelli joined the Board as a court-appointed Non-Independent Non-Executive Director to represent the interests of our creditors on 25 March 2022. Cosimo's extensive experience in cash flow management will be a major help to the Group's pursuit of financial stability.

At the same time, the Group has also embarked on a series of negotiations with clients on legacy contracts to recover or limit project losses. In February 2022, the Group terminated the contract for the transportation and installation of monopiles at the Yunlin offshore wind farm in Taiwan. The decision was taken after exhausting avenues for an amicable solution.

On the operational side, we strived to maintain profit margins and reduce risks in projects by adopting the mantra "Bid Right, Execute with Discipline" for all new prospects. This means focusing our bidding on contracts in markets where we are highly competitive: at the right cost; and with clear visibility on risks we are assuming. Going forward, our focus will be on project profit margins rather than headline revenue.

Our increasingly-selective approach to tenders saw the total value of our bid book decline from RM54 billion at the start of FY2022 to RM28 billion by the end of FY2022. Our new approach will see us focus on the Asia-Pacific and Atlantic regions, where we have extensive project experience and existing assets.

The BRTF has already made early progress in the implementation of these plans.

We have improved our financial management by focusing on cash generation and profitability, rather than headline revenue. Working with independent advisors, we have also rebuilt our financial infrastructure

Posted by cicakman > 2022-06-14 19:47 | Report Abuse

Standby 4 cts on the way.Big players possible taking position to change folio.Just half cts only,no problem.

Posted by billionman > 2022-06-14 20:18 | Report Abuse

Posted by Ninth007 > 1 hour ago | Report Abuse

OUR STRATEGIC RESET PLAN

Sapura Energy's Board of Directors (the "Board") created a Board Restructuring Task Force ("BRTF") in December 2021, to strengthen our management and governance functions.

In December 2021, the Board announced the establishment of BRTF to provide oversight and support to the Management Team as they embarked on its Reset Plan. The Reset Plan aims to restructure Sapura Energy and overcome immediate financial and operational challenges.
.....................................................................................................................................................................

looking at the statement above....hahahaa SE mngmt already in the know and anticipated 6 months earlier that SE will be punitive into PN17 ( 1 Jun 2022) by SC..

even BRTF already set up......... reflecting.....that for unsuspected bilis are just being toyed turn into a ball being kicked all around ... what a game..... more to come..hahaaa

Posted by billionman > 2022-06-14 20:19 | Report Abuse

next push till .03 cents if lucky....

Posted by Ninth007 > 2022-06-14 20:48 | Report Abuse

If it really touch 3 cents, surely will buy in more lots. Amen
Foresee it can happen but as for it to gulung tikar, very very unlikely will!!!

Posted by OKU_2020 > 2022-06-14 22:13 |

Post removed.Why?

Posted by cashflow > 2022-06-14 23:06 | Report Abuse

https://www.theedgemarkets.com/article/sapura-energy-and-22-units-obtain-restraining-order-until-march-next-year

So many months to go for Sapura to goreng and improve its contract rates and T&Cs across the board.

Share price will improve on MOF sentiment and renewed O&G commodities bull run. Brent at $125 per bbl now. All operators are paying expediting fees to secure rigs and don’t mind the premium. Let’s go!

Posted by prudentinvestor > 2022-06-14 23:25 | Report Abuse

For a company that is seriously sick, even God can't bring it back to life. Let's forget this company.

Posted by cashflow > 2022-06-14 23:29 | Report Abuse

God can’t bring it back to life, but Politicians can if they intend to.

Posted by bullmarket1628 > 2022-06-14 23:34 | Report Abuse

Sapura Energy and 22 units obtain restraining order until March next year
Hafiz Yatim/theedgemarkets.com
June 14, 2022 09:30 am +08

https://www.theedgemarkets.com/article/sapura-energy-and-22-units-obtain-restraining-order-until-march-next-year

KUALA LUMPUR (June 14): Sapura Energy Bhd and 22 of its wholly-owned subsidiaries have obtained a nine-month extension of the restraining order (RO) from the High Court against their creditors.
The companies are to update the court by Sept 28 on the progress of the proposed scheme of arrangement. Judicial Commissioner (JC) Adlin Abdul Majid granted the RO following proceedings conducted last Wednesday afternoon (June 8).
Initially, these companies were granted a three-month RO as applied under Section 368(1) of the Companies Act 2016 last March, which was slated to end on June 10........

Posted by bullmarket1628 > 2022-06-14 23:35 | Report Abuse

Wow, Superb good news for Sapnrg !
Like the tommorrow Sapnrg going to limit up already liao lah !

Heng ah, Ong ah, Huat ah !

Posted by Legend > 2022-06-15 00:08 | Report Abuse

Hutang ada billion mcm mana mau limit up...haha

Posted by billionman > 2022-06-15 05:53 | Report Abuse

facts are ...bail out ..again bail out....again bail out .... pump in...again pump in. again pump in .but sinking further... suffocating.. to pay debt ..sell assets ..as trade off.

now buying time..seeking begging for funders to come in to get more $ to move on..what kind of bz is this.. unsustainable model

Look at NTA quantum..NTA 0.02 cents but talking as if profitable. lucky to hve assets for trade off pay debt the only consolations good part. irony mgmt. all fattttttttt

1yr time frame to come out of pn17? hahaaa even fm 2017 till 2022 continue to sinking winding up..lucky RO and court appeal granted delay...what do u expect out of it if doing bz on other ppl mercy, investors confidence level dwindling based on non profiteering Y2Y fiscal data...yet talks as if like Hisbscus or Dialog or Dayang or Wah Seong.

falling into the PN17 domain is a serious implications referring to financial problematic the ability ,sustainability ,growth prospect and the anticipated ROI.

merely delay slow death or recover... 50-50.....since her lifeline depends on others rescuers of goodwill..so far roi 0

Posted by billionman > 2022-06-15 06:06 | Report Abuse

General bird eye views of SE.

We may wonder why turn into PN17 companies????? if we scrutinise them carefully, we will see that these companies are usually poorly managed or do not have good track records.

Then why investors continue to hold on to these PN17 companies. ??
1One main reason is that they seldom keep track of the companies financial performance. disillusioned, hoping and less sensitive to ROI impacts and track records performance based outcome.
2.Likely most likely being fed with rubbish info sweeteners and misleading.
3.Some investors are not aware that they are holding on to stock of companies that have been classified under PN17. 4. In some cases, the investors do not even notice that these companies have been delisted.

A key difference between good investors and normal investors is that good investors always remember that there are chances they may make mistakes in their stock selection. All about risk probability and gain stories. Therefore, they are careful to monitor the performance of their stock.

Once they discover that the companies they have invested in are experiencing declining performance or showing early signs of financial difficulties, they will make quick decision to cut their losses.... where possible

Unfortunately, not all investors have the courage to admit their mistakes.

Even worse, some of them even believe they will never make mistakes in their stock selections and the poor performance is just a temporary situation. This type of investors usually end up getting stuck with poor performing stocks.

It is said of the stock market that "what goes up will come down, but what goes down may not go up"

Disclaimer .own decisions

Posted by TalkNumberOne > 2022-06-15 07:34 | Report Abuse

Working hard, good lads. Hahaha, still every seconds commenting. I hope you earn per comment, otherwise your 2 seconds of fame no one cares, better watch tiktok some cute chick dancing.

Posted by cicakman > 2022-06-15 08:33 | Report Abuse

Pak Cik /Mak Cik Kiah
Uncle Auntie
Grandma/Grandpa.
Nyonya2.

Read and Understand.

Be it any counters you have bought at high price especially a PN17 which is having big financial problem is a disasters cz currently and next approx 365 days will be BEAR MARKET..

Before it goes dowm deeper,runnnnnnnn ...at any chances you have and not to touch anything to avoid being TRAP IN BEAR MARKET.

Posted by cicakman > 2022-06-15 08:51 | Report Abuse

It defeat the purpose buying low if of goes lower.
It will be very long and very very very risky wait.
A Bear Market will always be a trap for Stock Market.

Posted by cicakman > 2022-06-15 08:57 | Report Abuse

1_____1
@---- @----- @----
Rest in peace.

Posted by cicakman > 2022-06-15 09:00 | Report Abuse

Run first and talk later.

Posted by r12047 > 2022-06-15 09:05 | Report Abuse

TalkNumberOne,..true.

Posted by cicakman > 2022-06-15 09:07 | Report Abuse

Sailang.
To make it green today,all need to do is day before make is red or yellow.
When green,it will be grandma settting traps.

Posted by koyokui > 2022-06-15 09:07 | Report Abuse

Buy bailout is happening

Posted by cicakman > 2022-06-15 09:09 | Report Abuse

The obective are to run.

Posted by TRexxx > 2022-06-15 09:11 | Report Abuse

SE's pulse hit 55 recovering.

Posted by StockGodFatt > 2022-06-15 09:12 | Report Abuse

Sui sui Lai liao

Posted by cicakman > 2022-06-15 09:21 | Report Abuse

Although it all depend on market force,Billionman speak the truth.

Posted by nicholas99 > 2022-06-15 09:25 | Report Abuse

Any green, just run.. before its too late.

Posted by r12047 > 2022-06-15 09:26 | Report Abuse

Then, he can become a fortune teller or predict 4D numbers

Posted by r12047 > 2022-06-15 09:32 | Report Abuse

so desperature to get cheap tickets

Posted by cicakman > 2022-06-15 09:35 | Report Abuse

nicholas99 get smart.

Posted by matg > 2022-06-15 09:39 | Report Abuse

brewing

Posted by nicholas99 > 2022-06-15 09:41 | Report Abuse

IB also no dare masuk.. see what Powell cakap dulu.

Posted by TRexxx > 2022-06-15 09:42 | Report Abuse

Jaws attack