Don't get carried away. That Coverage article is back in April. Just need to watch the news in the 4 working days.

PM: Terengganu experiences rapid development with oil, gas industry as backbone.
https://www.theedgemarkets.com/article/pm-terengganu-experiences-rapid-development-oil-gas-industry-backbone
Was that a hint on how important the oil & gas industry is to Malaysia.

Hope it is not the same as www.wellous.com which is full of risky malicious software and virus.

Related transaction. Left hand pass over to right hand, same same. Retail outlet. What a high class massage parlour?

mTouche Technology buys two TROIKA units for RM17.9m to set up wellness studio.
https://www.theedgemarkets.com/article/mtouche-technology-buys-two-troika-units-rm179m-set-wellness-studio

TonyS9
Sorry, I meant 21,000 shares traded at the time. It finish with 40,100 shares traded. Tells me that news is worth nothing.

21k turnover on that contract. Maybe that contract is really not worth it.

The Bumi GLCs are the power base of the BN govt. With no help to Sapura, BN can kiss GE15 goodbye. Also Zafrul will loose his cosy cabinet job. It's call self preservation.

Exactly, how did they get there? It is unthinkable that a company of this size in Malaysia, as well as the world can fall over.

One step at a time. At least they got pass the first hurdle. Now they need to get pass the next hurdle. The world is not created in one day.

There is no such thing as impossible. This is Malaysia Boleh. If we think SERB is in worst off predicament than SAP and can KAW TIM the creditors, surely with a bit of nudge, nudge here and there as well as a bit of hard negotiation SAP also can KAW TIM.

Banks reach settlement with Serba Dinamik on scheme of arrangement.
https://www.theedgemarkets.com/article/banks-reach-settlement-serba-dinamik-scheme-arrangement.

The news update out of SERB is a lot worst than the news update here and they still manage to stabilize their price movement. Over here with not that much bad news it's price has completely crash. Thought this was a better proposition than SERB.

Already 135m+shares gone through this morning between 0.60 - 0.65. There are a lot of investors trapped.

It's a battle of survival.

looks like there is a lot of shares 135m+ bought between 0.70 - 0.85 in the last 3 days that are now looking at a loss. Big $$$ considering the volume.

If MOF is going to come up with something it is likely to be announced on Tues, Mon is a holiday.

cashflow

You have 6 very big dreams. You will be lucky if you strike one. (as good as 4D)

Can't blame the small punters. Most of them didn't even vote those BOD in. It is the big powerful institutions who hold a high % of the votes. They should have a look at the actions, and maybe correct it.

GE15 coming UMNO needs $$$. Ask Bossku, traditional harvesting ground.

What are they doing here? Is the offer too lucarative that they cannot resist and are prepared to tarnish their credentials for the sake of the $$$? If it is close to Shahril then I will understand. Only problem is we don't have that kind of $$$

Datasonic is the money bag for UMNO. Possible more good news from Govt when it get closer.

My question is what are those two high calibre (according to their history) individuals jumping into this potentially dying company soon to be terminated?

Same as property sales. They built the building and equip it to produce gloves. Now they can sell the lot as VALUE ADDED property dedicated to gloves. Next door is Top Glove and whisper is they might be interested.

They got DURIAN plantation. Free durians next AGM

Are we still chasing the test kits? Late comer on test kits Rubberex seems to have done it and we are still chasing? They have even done better in what we aim to do by branching out into the health industries. Management is useless, the company is a means of pocketing money for themselves!

Rubberex buys test kit maker, proposes name change to Hextar Healthcare.
https://www.theedgemarkets.com/article/rubberex-buys-test-kit-maker-proposes-name-change-hextar-healthcare

Gap Down, not Gap Up!

I think the market reaction yesterday might be the big boys playing the market to get the final MSCI index up.

Late buying pushes KLCI turnover, volume to multi-year highs.
https://www.theedgemarkets.com/article/late-buying-pushes-klci-turnover-volume-multiyear-highs.

It's not a bail out. Just a life line for SD to prolong the saga and chance to get out of trouble by using Petronas name as a support. No $$$ injection involved. Probably some hidden Govt intervention.

Legend
The 2 postings of yours is already in Sapura's market buzz in I3. Don't have to copy it again. Thank you. You can start by telling us where you think the price is going this morning and your assessment.

Wait for the next quarter. If not good, they might supply free DURIAN at the AGM.

It's OK. We got Petronas company seal that might be needed for any guarantees.

Serba Dinamik records revenue of RM205.5 mil in Q3.
https://www.theedgemarkets.com/article/serba-dinamik-records-revenue-rm2055-mil-q3.

Is this for real? According to this report it is mostly from Middle East or outside Malaysia. I presume this aren't audited accounts, because they can't check the figures again. Do we trust Karim?

You all know that Petronas has today thrown a life line to SerbaDmk. Maybe Petronas is going to do something for Sapura or PNB is going to do something. Obviously nobody commits themselves to that volume of shares unless they are pretty sure of the direction it is going.

Like to know how everyone is reading into this 130m buy @ 0.085 in the last 10 minutes, considering that close to 135m has already been sold (dump) all day at 0.80. This is a major move, maybe someone is acting on inside information.

Don't they know we are now a PN17 PLC

If you are waiting for 0.075, it is not going to get there. Maybe tomorrow.

Amazingly even though they have been dumping into 0.08 the support for 0.08 still keeps coming. So far 83m shares has cross over at 0.08.

0.10 now. Still coming down.

49M of the 55m shares traded today was dumped on 0.80 buyers. Obviously there are still some institution not happy.

Market not impressed. Looks like it needs more news to get at least another piston firing.

"High salaries and related-party transactions
From FY2013-FY2022, Sapura Energy paid out total dividends of RM480 million. But huge salaries, incentives and payments were made out to Shahril and his vehicle Brothers Capital Sdn Bhd (co-owned with his brother Datuk Shahriman Shamsuddin), which wholly owns Sapura Holdings Sdn Bhd, which in turn now owns 12.82% of Sapura Energy.

Shahril drew huge remuneration and incentives from FY2014 onwards, even as the company posted losses from FY2016. His annual remuneration and incentives were between RM71.9 million and RM89.4 million from FY2014 to FY2018 (see Chart 4). His total income from FY2013 to FY2021 was RM443.9 million, or an average of RM49.3 million per year for nine years.

In FY2016, when Sapura Energy posted its first post-merger loss, Shahril’s remuneration was still a whopping RM83.4 million, down only marginally from the RM89.4 million in FY2015 when both Sapura Energy’s profits and his remuneration were at record highs. In FY2018, the company posted RM2.5 billion of net losses, but his remuneration was still a whopping RM71.9 million."


"In total, excluding the related-party transaction office rental, we estimate Shahril and Shahriman’s Sapura Holdings received RM1.17 billion from FY2013-2021, comprising RM444 million in remuneration, RM296 million in IP rights and trademarks, RM350 million from the SapuraCrest-Kencana merger cash distribution exercise and RM79 million from dividends (See Table 5).

In comparison, all shareholders (excluding Shahril and Sapura Holdings) received just RM401 million in dividends. To cut a long story short, one single shareholder received three times what was paid to all other shareholders.

This amount of RM1.17 billion received by Shahril personally and with Shahriman’s companies, is equivalent to a hefty 9.2% of Sapura’s total Ebitda of RM12.7 billion earned over the past 10 years."
https://www.theedgemarkets.com/article/cover-story-boom-and-bust-how-s...

"Troubled oil and gas services provider Serba Dinamik Holdings Bhd posted its third consecutive net loss for the third quarter ended March 31, 2022 (3QFY22), with a net loss of RM434.19 million — its largest to date."

"Serba Dinamik’s share price settled unchanged at 11 sen on Monday, giving it a market capitalisation of RM409.99 million."

The amount of $$$ that the Directors have been paid over time is absolutely obscene. Heads should roll, they should all be replaced. Some of those big institutions that approved their pay should have another assessment of their decisions.

Sapura Energy disposes pipe-laying and crane vessel for US$71.5mil.
https://www.nst.com.my/business/2022/05/800845/sapura-energy-disposes-pipe-laying-and-crane-vessel-us715mil.
Hope they make the right decision, not a decision base on their need for cash. Might be like cutting off the hand that brings in the money. They should cut the exorbitant Directors pay, absolute waste of money. At least this is cost cutting NOT cutting your hands off.

ken2004
Are you testing the quick sand with one leg on SBD and another leg on SPE? So which leg is going to sink first?

The simplest form of debt restructuring to me is just a swap of some debts for shares. There is no other way around it, unless govt or a white knight is willing to commit or inject extra cash.

Results looks good, but it's price is still falling. Investors not impressed.

WEF: Subsidies up by RM40 bil to tame inflation - Zafrul.
We need alot of money for subsidies.

https://www.astroawani.com/video-english/wef-subsidies-rm40-bil-tame-inflation-zafrul-1968805.

It looks like most of sales are interested in 0.08 than 0.085