Stocks rallied Wednesday after the Federal Reserve announced its much anticipated 0.75 percentage point rate increase to fight inflation, but hinted that it could slow the pace of its hiking campaign at some point.
The Dow Jones Industrial Average jumped 436.05 points, or nearly 1.4%, to 32,197.59. The S&P 500 gained 2.62% to close at 4,023.61. The Nasdaq Composite climbed 4.06% to 12,032.42. Tech shares led gains a day after quarterly results from Alphabet and Microsoft.
Federal Reserve announced its much anticipated 0.75 percentage point rate increase to fight inflation, but hinted that it could slow the pace of its hiking campaign at some point...
“The top three sectors which saw net outflows by foreign investors were industrial products and services (RM51.7 million), technology (RM40.4 million), and plantation (RM22.3 million).
“Meanwhile, the top three sectors with net inflows were healthcare, financial services, and consumer products and services, with RM71.7 million, RM35.5 million and RM16.6 million respectively,” it said.
MIDF said that to date, international funds were net buyers for 17 out of 28 weeks of 2022, with a total net inflow of RM5.94 billion.
The ringgit fell to a five-year low against the US dollar on Tuesday (July 19) as Brent oil prices stabilised after gaining for two straight days.
This is good as Sap incomes are derived from USD.
For Upstream, the nature of business is Asset based while Downstream more resilient in term of earning. Fortunately Sap has both type of business. Current short term debt is due to Last year massive impairment book value almost zero which result to PN17.
To expedite Regulation Plan, as announced yesterday, Sap is on target to meet the dateline and many are lining up to court her like Prince Petronas lah, Prince MOF or even ex boyfriend like Prince PNB.
Good thing is that it has access to bank facilities to continue business.
Based on Mabel's engagements with other Battleships, most O&G business involve in Fund raising exercises like Right issues, balance sheets issues. Only Handful gives Bonus Issues. So what Sap facing is actually quite normal in Malaysian O&G Scenarios.
One more thing to share is if the counter is DOWN from RM1.00 to RM0.50, the percentage DOWN is 50%. But if the counter INCREASES from RM0.50 to RM1.00, the INCREASE percentage is 100%. One advantage of Buying on deep. Now you know why Mabel is still collecting....
Beside, if oil price continue it's trajectory to be range of 100-140 in the coming 6 more months as announced by many World Femes Analyst, this will inject more USD petro dollar to Malaysian economy. If has been since 10 years (2012 - end 2014) KLSE bull run, coincide with the rising oil price. Target strong fundamentals with good dividend yield share and we shall be ok. I don't think the sky is going to fall soon, on the contrary opportunity to enter carefully.
Then how you expect a PN 17 with huge debt will perform just cz looking for assistance? How long you expect it can recover when have >10 billions debt excluding coming interest?
Si Tanggang is now irrelevant...His time is already up many years ago
Mabel is looking for more handsome and more macho Shareholders..
Mabel's Anuar Taib is an experienced oil man with experience from Shell & Petronas. He and his Team will be able to take this from the current storm...
Sapura Energy Bhd will be able to meet the deadline of its debt restructuring, building on the optimism of its business regularisation, also known as the Reset Plan, group chief executive officer Datuk Mohd Anuar Taib said. The company, together with 22 of its wholly-owned subsidiaries, had secured a nine-month extension on the restraining order against its creditors by the High Court to restructure its debts under a scheme of arrangement. The extension will expire on March 10, 2023.
Anuar said with the company in the process of refinancing its RM10.3 billion debt, it was in the interest of everybody across the board in working towards resolving the issue. We have brought in RM15 billion worth of work into Malaysia since 2010. Anuar said Sapura Energy was bidding for RM22.8 billion of contracts and was sitting on an RM8.3 billion orderbook - the highest level since the Covid-19 global slowdown.
We have managed to renegotiate some of these (legacy) contracts and the target is to lessen our exposure to 30 per cent by the end of the financial year 2023 from 80-90 per cent last year," he said. Sapura Energy returned to the black in the first quarter ended April 30, 2022, with a net profit of RM91.93 million from a net loss of RM97.07 million in the same quarter a year ago.
Woi. Still same lagi shouting run run run kah. Yak penat ke. Those want to run already left leh. Left those hardcore one still waiting good news or miracle to happen leh. Bossku pun tak bersuara nak siapa rescue Janda Sapura lagi. Bank m suppliers haircut pun belum ada jawapan lagi. Kena Tunggu lagi. Haiyoh. Correct?
Those still holding Janda Sapura pun betting tomolo will be better. After so many tomolo still waiting for tomolo rainbow to appear. As long ada sunshine after raining day possible juga rainbow will appear. All the best to you all. Ular also hope Janda Sapura still can continue running the business as usual. Janda is one of the Icon of Bumi company that kibar Jalur Germilang di arena antarabangsa. Hope the Icon still can continue doing Msia proud lagi. Haiyoh. Correct?
The gap between rich America and poor America is so wide now that rich America holds all of the cards. They have enough money to keep their economy growing by continuing to hire the new class of working slaves that live pay check to pay check.
The danger isn't the market going into recession. The danger is the coming mass homelessness and the evils to our society that will cause. Inflation is nothing more than sticking the poor people with past deficits.
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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....
TokAbah
1,205 posts
Posted by TokAbah > 2022-07-27 13:31 | Report Abuse
This hampsap SAPULAH will kena goreng by shark and fun manager lorr.
After Serbabidak most likely SAPULAH lorr