I don't think SAP dare to deceive court, the confirmation from white knight can be noted in the submission to court for extension. SAP need to submit 75% creditor support doc. You can doubt their capability to achieve it. You are st..pi if you think their announcement are fake.
$YINSON / 7293 (YINSON HOLDINGS BERHAD)'s FPSO Atlanta on schedule for first oil in August 2024.
Meanwhile Mabel Energy Yinson is on target to join Sapnrg in Brazil..
Ongoing activities currently include mandatory adaptations by regulatory agencies, final testing, and commissioning, which will conclude the operational activities scheduled to start production on the new platform, pending the issuance of environmental operating license and authorization from Brazil’s National Agency of Petroleum, Natural Gas, and Biofuels (ANP).
Malaysia’s Yinson Production, the FPSO Atlanta has the capacity to process 50,000 barrels of oil per day, 140,000 barrels of water per day, and store 1.6 million barrels of oil.
It will replace Petrojarl I FPSO at Atlanta field, which has a production capacity of 30,000 barrels of oil per day and a storage capacity of 180,000.
While Lady Sapnrg has an Outstanding Order Booked of RM 7 Billion ( could have been RM 17 Billion if they are not a PN17 due to unavailability of Bank Guarantee), Yinson has an outstanding order book stands at approximately USD $22.2 billion.
I checked out this talam transformer Kevin is promoting. Negative earnings as far back as eye can see. Yearly and 3-monthly. Should go back to PN17. We have enough trouble with Sapura.
The next big pay is Agogo at USD726k/day, first oil expected at 1Q26. Which is a long way, unless they managed to complete the conversion 5 or 6 months ahead like Maria, then maybe first oil at mid or end of 2025.
Well Done Yinson, today she climbs 7.2%
PETRONAS Chemicals registers higher net profit of RM777mil in 2Q, declares 10c div/share
# LY Hoh Now days the Sapura NTAB (0.2300), anyone Sifu can explain what happen to the next? Thank you. 19/08/2024 5:13 PM
Sapura Energy Berhad’s Net Tangible Asset Backing (NTAB) is actually -0.2300. This negative NTAB indicates that the company’s liabilities exceed its tangible assets.
Sapura is currently undergoing the biggest in corporate restructuring exercise in the history of Corporate Malaysia due to long term legacies contract awarded during TS Sharil’s time with risk taken by contractors. Right now they are Renegotiate all bad contract beside completing those projects.
As Mabel shared earlier, to turn around this National Treasure into a viable company, Sapura Energy needs to focus on several key strategies based on our recent AGM:
PN17 Progress: Company Turnaround Efforts are underway to turn the company around. The company is on track to exit PN17 next year. Key steps include debt restructuring, a solid business plan, and securing 75% lender support for PRS.
White Knight Support: White Knights remain committed with letter received in Feb this year, providing significant assistance while remaining anonymous. A regulation plan will be submitted to Bursa for approval by year-end.
Challenges: Despite facing a substantial debt of 10.8 billion with banks, credit facility suspensions, industry downturn, and contractor risks, the company has secured financial support from lenders and vendors.
Operational Focus: The focus now shifts to margin improvement rather than top-line growth. Positive results are expected in subsequent quarters. SAP transform from negative cash flow has now generated more than 1.5 billion positive cash flow.
2024 Outlook: Despite geopolitical and supply chain challenges, new contracts are anticipated to boost cash flow and working capital. Total Project bids is worth RM 23 Billion with RM 7 Billion Order Booked. Imagine if they have secured the bank guarantee, they would have taken in more than RM 10 billion contracts across the Globe..
Thank you Mabel for the above update. Yes, i knew the company’s liabilities exceed its tangible assets, that why wondering.....Hope it can successful restructure as the early year the share price very high, look at now, Ai.......Anyway, Thank you.
Introducing MY's First IPO Fund for Sophisticated Investors!
MQ Chat
New Update. Discover investment communities that resonate with your ideas
MQ Trader
M & A Value Partners IPO Equity Fund has been launched - Targeted 13% Return p.a
Latest Videos
0:17
New IPO: The onshore and offshore support services provider for the O&G industry, Steel Hawk Bhd aims to list on the Ace Market!
MQ Trader 2904 views | 2 d ago
0:17
New IPO: The largest mini-market player and a leading groceries retailer in Malaysia, 99 Speed Mart Retail Holdings Bhd aims to list on the Main Market!
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....
Nikmon
2,995 posts
Posted by Nikmon > 3 weeks ago | Report Abuse
I don't think SAP dare to deceive court, the confirmation from white knight can be noted in the submission to court for extension. SAP need to submit 75% creditor support doc. You can doubt their capability to achieve it. You are st..pi if you think their announcement are fake.