Posted by strattegist > 2022-11-01 15:30 |

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Posted by gkungpat > 2022-11-01 21:53 | Report Abuse

PRACTICE NOTE 17 / GUIDANCE NOTE 3
MONTHLY ANNOUNCEMENT

SAPURA ENERGY BERHAD ("THE COMPANY")
MONTHLY ANNOUNCEMENT PURSUANT TO PRACTICE NOTE 17 ("PN17") OF MAIN MARKET LISTING REQUIREMENTS OF BURSA MALAYSIA SECURITIES BERHAD

The Company is also progressing in its proof of debt (“POD”) exercise with its trade creditors in connection with the PSA.

In addition, and as previously announced, on 1 September 2022, the Company received approval from the Corporate Debt Restructuring Committee (“CDRC”), approving the Company’s application for assistance to mediate in its debt restructuring negotiations with certain financial institutions. Following the CDRC’s acceptance, the relevant financial institutions are expected to observe an informal standstill and the Company is expected to submit a proposal for a restructuring of its debts owed to such financial institutions within 60 days from 1 September 2022.

The Company has approximately seven months to submit its Regularisation Plan to the relevant authorities for approval.

This announcement is dated 1 November 2022.

Posted by amirsyam1001 > 2022-11-01 21:55 | Report Abuse

which means 1st of Jun 2023? SAP submit its Regularisation Plan to the relevant authorities for approval.

Posted by harold8990 > 2022-11-01 22:35 | Report Abuse

Good to know sapura is taking it very seriously. Unlike Serba.

Posted by SinGor > 2022-11-02 10:21 | Report Abuse

The Company has had a number of meetings with certain of its existing financiers (as described below, the “MCF Financiers”) to consider a proposed scheme of arrangement and compromise (“PSA”), to be approved in due course by the various classes of creditors of the affected members of the group in court-convened meetings
________________________________
A proposal has been submitted to Bankers( 10Bil---Maybank Taiko)) And smaller Court Creditors---if the smaller
creditors accept and Drop Lawsuits. I think SAP price will raise significantly bcos smaller creditors are actually
Suppliers of Raw Material and Technical Workforce. These group of Creditors will enhance SAP job bidding and
extend sap scope of manufacturing

Posted by strattegist > 2022-11-02 13:20 |

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Posted by Ninth007 > 2022-11-02 14:52 | Report Abuse

All in lah
What you waiting for
Hoot9E .... 0.04
Jit Pai hoseh liao......

Posted by Mabel > 2022-11-02 15:30 | Report Abuse

...haha...still collecting...

Meow Meow Meow

Posted by Icon 888 > 2022-11-02 16:27 | Report Abuse

Crisis come.. save ur money

Posted by Mabel > 2022-11-02 18:33 | Report Abuse

Haha how much can you earn with FD?

Usually the Bull is longer than Bear..

Meow

Posted by Mabel > 2022-11-02 18:35 | Report Abuse

...Bear has already been factored at current price..

As long you are holding below PNB's Holding Price, there's nothing to fear..

Posted by Mabel > 2022-11-02 18:38 | Report Abuse

harold8990 Good to know sapura is taking it very seriously. Unlike Serba.
01/11/2022 10:35 PM

Indeed!

Looks like SE more serious than SD in their regulation plan. Every month got update..

SD only update BAU..

Mabel is inspired what Tan Sri Zainal did at Dnex, next in line is Sap. Previously nobody cares about Dnex until it explodes..

It will cum for Sap..Big Brother PNB will not let this Battleship down...

Meow

Posted by strattegist > 2022-11-02 18:52 |

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Posted by success2628 > 2022-11-03 07:06 | Report Abuse

Walaoeh, oil price continue to spike up like mad !
Brent closed at=> $96.16 +1.51 +1.69 %

Like that today Sapnrg will be limit up already liao lah !

Congratulations to all the Sapnrg die hard supporters!

Posted by TalkNumberOne > 2022-11-03 08:01 | Report Abuse

Dont be another oku please, every day limit up but still 0.04, sorry now 0.035

Posted by strattegist > 2022-11-03 11:08 |

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Posted by OKU_2020 > 2022-11-04 16:35 | Report Abuse

#DeadRat?

Posted by TalkNumberOne > 2022-11-04 17:27 | Report Abuse

Uncle lembik, you mean everything dead except your mouth?

Posted by Bmw X5 > 2022-11-04 17:55 | Report Abuse

https://seekingalpha.com/news/3901070-transocean-surges-to-five-month-high-on-strong-ebitda-and-revenue-beats

Posted by strattegist > 2022-11-05 09:46 |

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Posted by strattegist > 2022-11-07 10:13 |

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Posted by Kanenites > 2022-11-07 11:26 |

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Posted by SinGor > 2022-11-07 19:57 | Report Abuse

Velesto just received a 635mil Contract for One Jack-Up Rig (Naga 5). SAP has 11 jack-Up Rig---Is SAP 2023
Revenue All from Jack-Up Rigs?? Then it is worth 4--5Bil revenue until 2024 like Velesto

Posted by SinGor > 2022-11-07 20:07 | Report Abuse

If Day Rate is high enough ( $150K = RM705,000 / Day ) SAP can get about RM 1.5--2.0Bil /year( Net Profit )

Posted by strattegist > 2022-11-08 10:03 |

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Posted by VegeBird1219 > 2022-11-08 12:15 | Report Abuse

Market participants will be eyeing the U.S. CPI data this week for trading cues "where sticky inflation may strengthen the Fed's hawkish stance and intensify recession fears", weighing on oil, CMC Markets analyst Tina Teng said.

U.S. crude oil stocks were expected to have risen by about 1.1 million barrels last week, a preliminary Reuters poll showed on Monday.

The poll was conducted ahead of reports from the American Petroleum Institute due at 4:30 p.m. ET (2130 GMT) on Tuesday, and the Energy Information Administration due at 10:30 a.m. (1530 GMT) on Wednesday. – Reuters

Posted by strattegist > 2022-11-08 15:11 |

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Posted by VegeBird1219 > 2022-11-10 12:44 | Report Abuse

Sapura Energy Resources Bhd’s net loss narrowed to RM2.59mil in the second quarter ended July 31 (2Q), against a net loss of RM1.51bil in the same quarter a year ago.

Revenue for the quarter surged 57% to RM1.17bil from RM747.11mil a year earlier.

In a statement, Sapura Energy said its recorded positive earnings before interest, taxes, depreciation, and amortisation (Ebitda) of RM313mil in 2Q

Posted by VegeBird1219 > 2022-11-10 12:44 | Report Abuse

Despite the challenges, all business segments registered positive Ebitda, with E&C delivering RM38mil; O&M delivering RM47mil, and drilling delivering RM150mil,” Sapura Energy said.

In the first six months to July 31, Sapura posted a net profit of RM89.34mil against a net loss of RM1.61bil while revenue dipped 7.15% to RM2.05bil from RM2.21bil posted last year.

Posted by Mabel > 2022-11-10 13:00 | Report Abuse

Sap Restructuring is still ongoing. SAPE’s total borrowings stood at MYR11bn as of 2QFY23 (Jan) and continued to be classified under current liabilities with the breach of financial covenants. The Corporate Debt Restructuring Committee of Malaysia (CDRC) has accepted SAPE’s application to mediate its debt restructuring negotiations with lenders, and the company is expected to submit a proposal for a restructuring of its debts..just be patience

Management did not guide on the comfortable debt level post restructuring but reiterated that cash conversation via continuous cost optimisation and a divestment plan are also top priorities. SAPE has completed the disposal of Sapura 3000 in August and is in the midst of disposing three tender assisted drilling rigs – Sapura T-19, Sapura T-20 and Sapura Setia – for USD8.2m. Apart from the potential conversion of debt to equity being part the restructuring plan, we do not discount the possibility of a partial sale of its 50% stake in SapuraOMV, its upstream exploration and production arm. CDRC act as mediator between debtor & creditor. This very positive unlike SD which requires IL to take control of SD..

Petronas just discovered oil in Sepia, Brazil. Sap is the potential benefactor. Some one need to execute this job!

As shared earlier, Velesto just received a 635mil Contract for One Jack-Up Rig (Naga 5). SAP has 11 jack-Up Rig. Potential 2023 Revenue for Jack-Up Rigs could be worth worth 4--5Bil with a potential Net Profit about RM 1.5--2.0Bil /year in Net Profit!

As long your holding cost is lowered than Big Brother PNB, there's nothing to fear. Unlike SD, Mabel is going Long on Sap. Still collecting at dirt cheap price...

Captain Mabel Meow

Posted by Mabel > 2022-11-10 18:25 | Report Abuse

Yes Lah...

Mabel is looking forward to shift Gear..

Most likely Q3 will be more positive with current disposal of assets and previous hike of USD..

Yum Yum Yum

Posted by TalkNumberOne > 2022-11-10 18:59 | Report Abuse

Mabel just chill la, until regularisation over, nothing will move. We are not newbie like Uncle everyday shout but nothing happens

Posted by strattegist > 2022-11-10 19:35 |

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Posted by JJchan > 2022-11-11 10:52 | Report Abuse

SAP has to make credible announcement to move price Or PNB starts buying in large qty again

Posted by OKU_2020 > 2022-11-11 11:14 | Report Abuse

24/7 Lembiq Liao
#Impoten* Confirmed
- BursaOtai-92

Posted by Mabel > 2022-11-11 11:53 | Report Abuse

Burp..excuse me..Hihihi

Mabel collected more today...so apy..another apy day..

So Uncles and Aunties please press harder..

Here are some few tips for Uncle to swing correctly next week

There’s no best one over the other here. It depends on the market condition:

If the market is in a weak trend or in a range, then support resistance will be useful

If the market is in a strong trend, then you might want to use the 20 MA

If the market is in a healthy trend, then you could use the 50 MA

If the market is respecting a trendline, then you could use that trendline..

Hopefully, next week Mabel can get that 1 sen that Uncles promised.

CheriMeow

Posted by strattegist > 2022-11-11 17:48 |

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Posted by stockraider > 2022-11-11 17:49 | Report Abuse

Strong Recovery Play coming loh!

Posted by OKU_2020 > 2022-11-14 15:49 | Report Abuse

NO CURE...!!..LEMBIQ 24/7 just Confirmed
Smell A DEAD RAT
Critical n dangerous ahead

Posted by TalkNumberOne > 2022-11-14 16:12 | Report Abuse

This Uncle lembik how much has he lost? I have got stake also I hardly monitor, not that he monitors full time, he comments 24/7. Uncle please la if you loose money and still loosing, stop please, you will continue loose whatever left with you

Posted by TalkNumberOne > 2022-11-14 16:14 | Report Abuse

Investing supposed to be fun, not to make you mad, Uncle lembik ohhhh Uncle lembik

Posted by gkungpat > 2022-11-14 16:44 | Report Abuse

Price mcm tgh tunggu result PRU 15 aje ni..
Baru nk melonjak kot lepas tau parti mana bentuk kerajaan..
Huhuhu

Posted by strattegist > 2022-11-15 00:08 |

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Posted by Icon 888 > 2022-11-15 10:39 | Report Abuse

Keep cash ya.. wait for crisis

Posted by Nikmon > 2022-11-15 23:19 | Report Abuse

3-4 months left....very close to deadline.

Posted by OKU_2020 > 2022-11-16 09:20 | Report Abuse

.LEMBIQ 24/7 just Confirmed
NO CURE.....
Smell A DEAD RAT
Critical n dangerous ahead

Posted by JJchan > 2022-11-16 10:32 | Report Abuse

If Anwar wins GE15, i am very sure he will restructure SAP. 10 billion hanging on Banks are sinking Lending
power of Banks. The only Industries in 2023 that can generate Jobs is Oil Industries and the only Commodity
that can hedge against Inflation. Bcos Gov can "milk" Petronas like PN

Posted by JJchan > 2022-11-16 10:37 | Report Abuse

SAP has 10--11 jack-up Rigs that can be Nationalised and used exclusively for Petronas. If Gov move fast, it can
capitalised on high Oil price before Ukraine War settled down

Posted by OKU_2020 > 2022-11-16 14:14 | Report Abuse

JJchan@
If Anwar wins GE15,
---------
PM 10....sure one
Sapu E ?...2 sen

Posted by TalkNumberOne > 2022-11-16 16:13 | Report Abuse

JJCHAN bro, as always you are smart, the rigs are hard to come by now. These rigs are on extremely high demand with this current oil price plus minimum exploration over the last few years globally. Everyone rushing for exploration with not so many rigs available.