Oil prices rose Friday, helped by weakness in the U.S. dollar, but are still on course for their lowest weekly close in seven months on concerns of sluggish economic growth and China’s COVID woes weighing on GLOBAL DEMAND .
By 09:20 ET (13:20 GMT), U.S. crude futures traded 2.8% higher at $85.91 a barrel, while the Brent contract rose 2.9% to $91.72. Pergghhh.......
沙布拉能源(SAPNRG,5218,主板能源股)公布,根据莎阿南高等法院的命令,Lim San Peen 已被任命为其全资子公司 Sapura Project Services Sdn Bhd(SPSSB)的临时清盘人。
translation
Sapura Energy (SAPNRG, 5218, Mainboard Energy) has announced that Lim San Peen has been appointed as the provisional liquidator of its wholly-owned subsidiary Sapura Project Services Sdn Bhd (SPSSB) by order of the Shah Alam High Court. ------------ Smell A RAT ?....Critical & Dangerous this Monday..!! MEOW ? urinating.....
Critical thinking please...out of box.. This is unique - hmmm RARE - limited edition of OKU.... O K U =Otai Kuat Umno =OKU Otai =?.. One who is senior in a field@Stock Trading especially Cheap Penny , Warrant , IPO.. Hmmm.. an expert..!
hmmm this time - ini kali lah got to agree with MEOW Sap E jump 12.5 % last friday and with dow jone steamingg almost 400 points hoping a JOLLY $$$$$ day for us today BUT.... but.....Pergghhhh
Uncle, talk so much, wasted whole weekend and monday morning. still 0.04? Can you deliver sometimes? no wonder your wife runn runn runn, you eat domino, pizza hut all also no use, cannot perform, how la?
We maintain OVERWEIGHT on the oil & gas sector. The recently concluded 2QCY22 reporting season saw a marked improvement (against expectations) from the last quarter. ....Finger Crossed $$$
KUALA LUMPUR: Affin Hwang Capital expects a strong second half of 2022 (2H22) profit turnaround for Velesto Energy Bhd on the back of a higher capacity utilisation. The research house said the drilling market outlook had turned more favourable compared to a quarter ago with demand and charter rates on the rise.
Barring any unforeseen disruptions, it said Velesto should end 2022 with a full-year 59 per cent utilisation. "Management is also sticking to its bullish tone as it expects utilisation to rise close to 80 per cent in 2023 from our existing 65 per cent assumption.
"Velesto has locked in roughly 18 per cent utilisation so far, with most of the potential contracts still under negotiation under Petronas' umbrella package," it said. Meanwhile, the firm said the estimated higher 72 per cent rig utilisation in 2H22, above Velesto's 60 per cent breakeven level should lead to a strong profit turnaround and narrow 2022 losses significantly.
It said 2023 was shaping up to be a strong recovery year driven by a recovery in both rig demand and charter rates. "We reaffirm our Buy rating and target price of 11 sen on Velesto. "We believe market expectation on Velesto has bottomed and downside on its share price appears limited. "We see value emerging and believe that the current share price has not factored in the improving drilling market outlook," it added.
There may be hope yet for Sapura Energy KUALA LUMPUR: Once all but written off, Sapura Energy Bhd seems to be doing something right. A year ago, the thought of the oil and gas (O&G) service provider turning a profit was unimaginable. If its first quarter (Q1) 2022 results are anything to go by, Sapura Energy seems to be turning a corner. It returned to the black Q1 ended April 30, 2022 with a net profit of RM91.93 million from a net loss of RM97.07 million a year ago. Improving Prospect Bankers acknowledged that Sapura Energy's cash flow was improving thanks to clients who still trusted it despite its financial condition. In the past six months, the company announced contract wins worth more than RM3 billion, including renewals from repeat clients. They included contract extensions for pipe-laying vessels from Petrobras in Brazil, long-term contract for drilling services from PTTEP Thailand, an award for transportation and installation from Hess in Malaysia; and several other wins in Gulf of Mexico and West Africa. It also undertook the sale of its Sapura 3000 vessel to improve cash position. According to banking sources, Sapura Energy no longer had access to working capital from its banks. Despite this, industry observers indicated that Sapura Energy's debt restructuring seemed to be making some progress, and the recent news that Corporate Debt Restructuring Committee had given its nod to mediate the company's debt revamp could only strengthen its turnaround efforts. Setting Right Course So, it appeared the current management team was doing everything it could to set the course right, an O&G expert said. "If that is indeed the case, it then begs the question: why are there rumours swirling that the company is forced to sell almost all of its assets and businesses?" he asked. According to banking sources, foreign advisors representing the banks that provided the multi-currency facility (MCF) to Sapura Energy were, to put it crudely, keen to sell the company for parts, killing the potential of a Malaysian entity that continued to do well globally. The MCF currently stands at a combined value of about RM10.3 billion. "What is the motivation for wanting Sapura Energy to be carved out, since it has made enormous progress to date as a group? Are there vested interests? Are there buyers already lined up?" the expert asked, again. "Whatever the reason, it seems a shame to sink a viable ship," he said. Delay in Restructuring? Local senior bankers expressed worry that Sapura Energy was taking a little too long to progress its restructuring plan and the management had been reticent in the meantime. Indeed, Sapura Energy has not been actively engaging with the media or stakeholders, even when there is public outcry over the call for its bailout. https://www.nst.com.my/business/2022/09/830862/there-may-be-hope-yet-sapura-energy
Oil prices creep higher on robust global demand outlookhttps://www.reuters.com › business › energy › oil-prices-c
56 minutes ago — SINGAPORE, Sept 14 (Reuters) - Oil prices inched higher in early trade on Monday as OPEC stuck to forecasts for robust global fuel demand ... huatt chaiii $
SAP appoints Liquidator has spooks Ikan Bilis. But the Co, involved is a SAP Oil Service Co.( no asset ). The Liquidator fees worth more than Co asset....a few chairs, Old Computer, maybe a Fax Machine, Printers. That is main reason SAP is so willing to appoint a Liquidator. I think the Building is on Rental basis, not owned by SAP. Creditor(s) cannot sue SAP bcos the Co is a Sdn Bhd. Once Liquidate, it will close down automatically
2 sides of a coin if SAP post Qr results on 15Sept( tomolo). Very Good or Very Bad. SAP can wait till 30 Sept to post Bad results. So if tomolo got results, i think should be better than last Qr
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....
OKU_2020
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Posted by OKU_2020 > 2022-09-10 00:30 | Report Abuse
Oil prices rose Friday, helped by weakness in the U.S. dollar, but are still on course for their lowest weekly close in seven months on concerns of sluggish economic growth and China’s COVID woes weighing on GLOBAL DEMAND .
By 09:20 ET (13:20 GMT), U.S. crude futures traded 2.8% higher at $85.91 a barrel, while the Brent contract rose 2.9% to $91.72.
Pergghhh.......