Much of its FY23 ops are still exposed to legacy contracts. Sapura still needs to re-base its costs structure to a much lower level while at the same time, ensure that its RM7.7b order backlog and RM24.4b bids do not continue to suffer from further cost overruns/ provisions. The need to divest/ monetise its assets/ businesses (>RM.300m) is inevitable and an ongoing process.
We still see better values elsewhere, for now. For an exposure to the oil and gas space, we continue to advocate our preference for Hibiscus Petroleum Bhd (HIBI MK; ‘Buy’; TP: RM1.90) and Yinson Holdings Bhd (YNS MK; ‘Buy’; TP: RM4.05).
Hibiscus Petroleum Bhd - Mabel oledi sold at RM 1.30 Yinson Holdings Bhd - Still holding. Nice TP..Yum Yum Sap - Still collecting and averaging down. Big Brother not only very rich..Besar, Teguh, Peramah. As long as Mabel's cost is below Abg PNB, Mabel feel so secured..
So why Settle for 2 MBB Handsome models when you can have 3?
Daeiii { Hello in Tamil } What do you Expect? Bear in mind this is a PN 17 Sapu E unlike other healthy O & G counters... except one more Serbadk PN17.. #LembiqSokmo BTW... Lucky if NOT RIP { Rest In Peace }
Last Friday was bad! Bad not because Wall Street dropped. Bad because it was initially up before the bears took over. At one point in time in early trading, S&P was up about 32+ points, and to end that day with a 58 points loss is really not a good sign. It suggested a failed attempt to recover. Akin to in a battle. If the bulls gave up, naturally bulls will lost the battle. But if bulls fight back and lost the fight, it means the bears are really v strong this time round. After hiking rates by 3% in just six months, the fed continues to echo the need for further hikes, stoking worries among investors that the central bank could overshoot on tightening. On the chart, S&P already overshoot the recent low, so we were in uncharted water if we based the chart on recency. Fortunately, Mabel took the opportunity to change strategy capitalising on market weakness.
Last night it seems like a “new-week, new-month, new-quarter” positivity turns out quite well for the US Market. Wall Street made a strong start to the quarter with an epic victory as the Bulls charged out after many wounded battles in the last few rounds. The odds of the Fed delivering its fourth-consecutive 0.75% rate hike fell to 59% from 72% a week ago, according to Investing. com’s Fed Rate Monitor Tool. The narrative last night was weaker-than-expected economic data that aided the surge. Last night’s “battle” is won by the bulls, but the “war” is still far from over. Even with last night’s surge, a quick look at the S&P daily chart, it is still not over.
A wave of green also hit our local shore today. And with a strong performance on Wall Street last night, would be lying to say that I am not relieved. Finally! Some green shoots. Well, a good start to the quarter nonetheless. Let’s hope the good times roll on.
Who let the Bulls out?
Well my answer is the Water Tiger. Thank you Tiger!. The results was very encouraging. Data showing slowing labour demand helps to support the narrative of Fed slowing own on its monetary policy.
OKU_2020 Daeiii { Hello in Tamil } What do you Expect? Bear in mind this is a PN 17 Sapu E unlike other healthy O & G counters... except one more Serbadk PN17.. #LembiqSokmo BTW... Lucky if NOT RIP { Rest In Peace } 05/10/2022 6:09 PM
Haha haven't you heard what happened to PN 17 Scomies?
OKU_2020 Daeiii { Hello in Tamil } What do you Expect? Bear in mind this is a PN 17 Sapu E unlike other healthy O & G counters... except one more Serbadk PN17.. #LembiqSokmo BTW... Lucky if NOT RIP { Rest In Peace } 05/10/2022 6:09 PM
Haha Mabel heard many Umno people can speak Tamil..
A White House statement following the OPEC+ decision to defy the Biden administration with an output cut for November vows to find new ways to temper OPEC’s control over energy prices. Earlier on Wednesday, members of OPEC+ said they would cut November production quotas by 2 million bpd, citing the “uncertainty that surrounds the global economic and oil market outlooks”. The decision immediately led to a more than 2% increase in Brent crude and WTI prices and goes directly against the Biden administration’s attempts to lobby Saudi Arabia for higher production to bring prices down. Shortly after the release of an OPEC+ press release detailing the output cuts, the White House said, “In light of today's action, the Biden Administration will also consult with Congress on additional tools and authorities to reduce OPEC's control over energy prices.”
OPEC+ agrees deep oil production cuts, Biden calls it shortsighted By Ahmad Ghaddar, Alex Lawler and Rowena Edwards October 6, 2022 4:33 AM GMT+8Last Updated 17 min ago
VIENNA/LONDON, Oct 5 (Reuters) - OPEC+ agreed steep oil production cuts on Wednesday, curbing supply in an already tight market, causing one of its biggest clashes with the West as the U.S. administration called the surprise decision shortsighted. OPEC's de-facto leader Saudi Arabia said the cut of 2 million barrels per day (bpd) of output - equal to 2% of global supply - was necessary to respond to rising interest rates in the West and a weaker global economy..
Daeiii { Hello in Tamil } What do you Expect? Bear in mind this is a PN 17 Sapu E unlike other healthy O & G counters... except one more Serbadk PN17.. #LembiqSokmo BTW... Lucky if NOT RIP { Rest In Peace }
Putting things into perspective, this is by far, the biggest cut by the OPEC+ group since the height of pandemic in 2020. The quantum cut is bigger than market has anticipated (~1m bpd). This move reaffirms OPEC+’s influential role in providing stability and direction to the oil market. This move (-2m bpd cut) also goes against the USA’s sounding/ pressure to lower oil price by raising output. This move (production cut), in our view makes much sense to the oil producing states, on economic, operating and political statement fronts, in light of the tightness in spare capacity and the reality in its collective inability to meet production quota in the past.
All in, MBB oil price (dated Brent) estimates are unchanged, at USD100/bbl for 2022-23. We posit that it will take 2-3 years for new supply to come in following the massive structural under-investment that took place during the 2015-2021 period.
#ForEverLEMBIQ Daeiii { Hello in Tamil } Beyond Repair Thanks steaming IPO Cosmos - Buta Lui $$$ for EARLY BIRDERS opening 50 hit 60 sen BTW.... OKU@Otai { 1992 }
Haha Uncle...Life is so beautiful when we have Uncle OKU scaring some Uncle here...
Actually nothing to shiver..now 4.5 sen mah...
This morning, some nice Uncle got so scared and matched Mabel's que at 4 sen.Thanks you!
Today Mabel put more que from 3.5-2 sen..
Let see if some nice Uncles and Aunties will also match Mabel's que..
No of Buyers is about 10X... Looks like there's more young people coming on board to replace Uncles and Aunties..
Sapura Battleship leads Mabel Energy as the Biggest Gainer today. All Thomas Muller need to do is to break the 5 sen resistance to make significant gain upwards. This is what happened to Velesto recently
Sap - Still collecting and averaging down. Big Brother not only very rich, they are also Besar, Teguh, dan Peramah. As long as Mabel's cost is below Abg PNB, Mabel feel so secured..
So why Settle for 2 MBB Handsome models when you can have 3? Mabel loves to collect handsome BFs...
No election leh. How to move to 5 sen. Your election ctr can move without election kah. Haiyoh. Correct?
SinGor
SAP has to clear 5sen to make significant gain upwards ( so is Velesto--- has to break 13sens swiftly to climb to 20sen )
12 hours ago
KUALA LUMPUR, Oct 6 — The Yang Di-Pertuan Agong and Prime Minister Datuk Seri Ismail Sabri Yaakob did not discuss the dissolution of Parliament or the date of the general election (GE15) during today’s audience at Istana Negara, a source has said.
#OKU_2020 #Impoten* NO CURE.....! PN 17 Sapu E unlike other HEALTHY O & G counters 07/10/2022 9:02 AM
Haha Here are my Mabel Energy Battleship Collection:
Armada Yinson Petronas Chemical Dayang Dialog Icon Offshores Hibiscus HengYuan (Shell) Dnex Ping Petroleum Sapnrg Serbadk Dinamik
Latest collection is Syscorp. Syscorps has been a darling. It has another Armada of 300 Battleships which compliments existing Mabel Energy Battleships.
Brent closed at=> $94.42 +1.05 +1.12 %
With Regulation effort in place and the Winds is on our side boys, that’s all we need..
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....
myway
503 posts
Posted by myway > 2022-10-05 16:00 | Report Abuse
Sapura Energy 1HFY1/23 in the red, Maybank sees better value elsewhere
https://themalaysianreserve.com/2022/10/04/sapura-energy-1hfy1-23-in-the-red-maybank-sees-better-value-elsewhere/