Honesty This is so true that some people rather spent their time on the monitor and keyboard THAN with friend and family. I guess there is always room for weirdo and loner in forum…
Continue to seek you love with the monitor and keyboard!! wakaka
14/11/2021 3:47 PM

Who is the loner? You post much more often than most people here - but unfortunately nothing of relevance.

I guess your family don't acknowledge you after you went all-in on Serba and they have nothing to eat.

Anyway, I'll now put you in the same class as Mable and Snow White and no longer read your posts - I've seen everything you have to state, which is not much, just churned out again and again.

Apologies, as I'm sure you will think I'm your number one fan and admirer, that assumption couldn't be further from the truth.

Get back to the asylum and take your medication.

Honesty Tell us la how much they pay you ??
Maybe got others want to join ~~
Monkey see monkey do mah … LOL
14/11/2021 3:30 PM

They paid me with a minus sign when the share price collapsed due to the nefarious dealings by Kabash. I did cut my losses to about 40%

Like many others in the same position, I'm only here to see that justice is done to the cons in the BOD. Should be soon.

Sorry that you appear to be so badoh you didn't have the sense to jump ship. However, I'm sure Kadoom really appreciates your support and will help look after your family when it is confirmed your "investment" is worthless.

I could sympathise with you, as I do with others who have lost their money, only that you are such an arrogant, egotistical and brainless d1ckhead you deserve all that karma will bring to you.

BobAxelrod Immediate response to clear and present danger. Cantonese : Body got shit? (Guilty feeling)

What a cheap troll with low level of English. Between is not "By the way"
14/11/2021 3:10 PM

He has obviously escaped from the asylum again - luckily it appears Mabel and Snow White didn't manage it this time. Without someone ensuring he takes his medication (or changes his nappy) he sends out the same inane baseless statements again and again.

In terms of destroying Serba's image, it appears Kaboom needs no help, he has done an amazing job in making his counters the laughing stock of the Bursa.

Even a Shop-lot auditor would be too smart for SB which has been run like a hawker's stall.

InsiderShark @InvestorKING

Write as much as you want. Nobody will want to invest in Serba. Only traders will go in an trade.
14/11/2021 11:19 AM


I think we have to give credit to @InvestorKING, at least he is trying to present an hypothesis rather than just promoting that everything will be OK based on the promoters' will power.

I believe his argument is valid and if there were no issues with SeraDK's accounts the share price would probably overshoot RM1.6 on euphoria by the existing shareholders. Unfortunately for the shareholders, there are problems with the accounts as otherwise the SIR would have been released - all shareholders would be happy, Kaboom would have saved himself a lot of money and his reputation would not be as damaged as it is now.

I believe the SCIB share price was circa RM0.15 until Karoom Carried across his "business technique" to SCIB.

MATERIAL LITIGATION
SERBA DINAMIK HOLDINGS BERHAD (“SDHB” OR THE “COMPANY”) VS EY CONSULTING SDN BHD
We refer to the announcement dated 10 November 2021 and to Bursa’s query letter dated 12 November 2021.
Unless otherwise stated, the definitions and terms used herein shall have the same meaning as defined in those announcements.
The Board of Directors of SDHB wishes to inform that parties had attended the hearing of the injunction application against EY Consulting on 11 November 2021. The High Court had fixed the hearing of the application for injunction in the proceeding against Bursa Malaysia Securities Berhad (as described in the Company’s announcement dated 8 November 2021) together with the proceeding herein. The Company applied orally for an adjournment of the hearing of the injunction application in view of the fact that that the Company was served with a copy of affidavits in reply from Bursa and EY Consulting on 10 November 2021 and 11 November 2021 respectively. The High Court allowed the Company’s oral application and fixed the hearing of the injunction application together with the OS on 8 December 2021.
The Company further applied for an ad-interim injunction to be granted pending the disposal of the injunction application. The High Court dismissed the Company’s application for an ad-interim injunction with no order as to costs.
The Company will make further announcement as and when there are material developments on the above matter.
This announcement is dated 12 November 2021.

MATERIAL LITIGATION
SERBA DINAMIK HOLDINGS BERHAD (“SDHB” OR THE “COMPANY”) VS BURSA MALAYSIA SECURITIES BERHAD
We refer to the announcement dated 8 November 2021 and to Bursa’s query letter dated 12 November 2021.
Unless otherwise stated, the definitions and terms used herein shall have the same meaning as defined in those announcements.
The Board of Directors of SDHB wishes to inform that parties had attended the hearing of the injunction application against Bursa Malaysia Securities Berhad on 11 November 2021. The High Court had fixed the hearing of the application for injunction in the proceeding against EY Consulting (as described in the Company’s announcement dated 10 November 2021) together with the proceeding herein. The Company applied orally for an adjournment of the hearing of the injunction application in view of the fact that that the Company was served with a copy of affidavits in reply from Bursa and EY Consulting on 10 November 2021 and 11 November 2021 respectively. The High Court allowed the Company’s oral application and fixed the hearing of the injunction application together with the OS on 8 December 2021.
The Company further applied for an ad-interim injunction to be granted pending the disposal of the injunction application. The High Court dismissed the Company’s application for an ad-interim injunction with no order as to costs.
The Company will make further announcement as and when there are material developments on the above matter.
This announcement is dated 12 November 2021.

SD have been instructed to announce the outcome of the injunctions yesterday both for E&Y and Bursa

Maybe they don't want to get sued


bobvic96 Where are the "new" INEDs?

Nothing stated in support of SerbaDK's situation and neither have they resigned.

1) Spineless, and / or
2) Clueless, or
3) Not apparently independent

Serious reputation issues on the line here
12/11/2021 10:43 AM

Where are the "new" INEDs?

Nothing stated in support of SerbaDK's situation and neither have they resigned.

1) Spineless, and / or
2) Clueless, or
3) Not apparently independent

Serious reputation issues on the line here

ǷearlꙌhite .
Some shoddy cut and paste work.

Why did you leave out the comment on why I changed my stance on SD?

Dont tell me you didn't do the balancing act 1st before deciding.

No balance, no piss straight. And you know, you splatter yourself.


bobvic96 A trip down memory lane from a time before ǷearlꙌhite became a SerbaDK employee.
Some of ǷearlꙌhite's previous posts - you can view yourself: https://klse.i3investor.com/servlets/cube/post/pearlwhite.jsp?fp=20

Still looking for the inflexion point where he started to get paid by SD - a similar event happened with Unsteady ConPeepee
.
11/11/2021 3:33 PM


Read my last line, it should be clear I haven't got to that point yet.

But, at least, you are not denying you are (now) an SD employee

ǷearlꙌhite .
Good news article.

Hey by the way, did you know how many times did SD miss the payment on the day before the KPMG fiasco?

Didn't you all realise that it happen more than once?

Ooopsss.....but did they pay? Was it in the CF statement? Oh, wait, its fake.

https://www.theedgemarkets.com/article/serba-dinamik-misses-coupon-pay...
.
11/11/2021 3:38 PM

I believe you mean:

Hey by the way, did you know how many times did SD miss the payment on the day before KPMG uncovered the SD accounts fiasco?

If the contracts are fake as pointed out by PSAi3Alert, where did the money come from?

A trip down memory lane from a time before ǷearlꙌhite became a SerbaDK employee.
Some of ǷearlꙌhite's previous posts - you can view yourself: https://klse.i3investor.com/servlets/cube/post/pearlwhite.jsp?fp=20

Still looking for the inflexion point where he started to get paid by SD - a similar event happened with Unsteady ConPeepee

Stock: [SERBADK]: SERBA DINAMIK HOLDINGS BHD
Jun 23, 2021 9:10 AM | Report Abuse
.
SD Board and Mgt need to have mental evaluation

Mental issue very high

Too long Covid situation


Stock: [SERBADK]: SERBA DINAMIK HOLDINGS BHD
Jun 23, 2021 3:01 PM | Report Abuse
.
INV3ST0R Press conference was a joke. It was like a bunch of kids throwing a tantrum bashing KPMG but did not even put out anything substantial like what exactly they disagree with, what shocked him so much by the "shoplot auditor" etc.

This BOD is a bunch of jokers.


SD felt victimised and is doing all it can to tell people that it is innocent. they felt betrayed.

SO, RELOOKING AT KARIM'S PRESS CONFERENCE YESTERDAY, DO YOU THINK HE WAS TELLING THE TRUTH OR TELLING LIES?


Stock: [SERBADK]: SERBA DINAMIK HOLDINGS BHD
Jun 22, 2021 5:23 PM | Report Abuse
generally, suing auditor is not a good idea and will backfire.

especially on the notion "auditing process"

it is not SD to determine the "auditing process"

despite what Safee say, I am inclined to side with KPMG

Stock: [SERBADK]: SERBA DINAMIK HOLDINGS BHD
Jun 22, 2021 2:39 PM | Report Abuse
.

ALERT!!
ALERT!!

KWAP DISPOSED ALL - 0 SHARE HOLDINGS

ALERT!!
ALERT!!

Stock: [SERBADK]: SERBA DINAMIK HOLDINGS BHD
Jun 16, 2021 9:12 AM | Report Abuse
.
Why keep saying manipulating? Yes, everyone manipulates, its called Public Relations / Perceptions. As long as Accounting standards permit, its ok.

But there is a difference between

1) manipulating to commit fraud

2) no manipulating but commit Money Laundering.

Which one is worst? Get screwed by the Middle Easterns in your own backyard also don't realise?


Stock: [SERBADK]: SERBA DINAMIK HOLDINGS BHD
Jun 9, 2021 10:29 AM | Report Abuse
When the issues get settled, there is only one way for SD to be trusted again.

Yes, if some of you know the answer, is to have auditors full time in the Finance Division throughout the year to scrutinise all daily transactions. It would have to be KPMG that is doing it as they are the appointed auditor at this point of time.

That is the way that is being done for Armada so no issues arises.

Of course, audit fees will go to the million per year.

You gotta do what you gotta do to provide assurance.


Stock: [SERBADK]: SERBA DINAMIK HOLDINGS BHD
Jun 8, 2021 2:47 PM | Report Abuse
End of day, whatever inside information, insider talk is

CONFIRM IF YES OR NO TO DID SERBA DINAMIK DO

MONEY LAUNDERING??

Simple.



Stock: [SERBADK]: SERBA DINAMIK HOLDINGS BHD
Jun 8, 2021 9:21 AM | Report Abuse
all retailer who bought last week, all RIP.....

ALL RETAILER WHO BOUGHT SINCE MARCH 2020 AND STILL HOLDING

WILL RIP

:)

Have a look at the Bursa announcements on the “lucrative” Middle East contracts SCIB is cancelling. The share value of this company is what it used to be before Kabam became a director

Ishak disposed 25k warrants! Why on earth?
https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3207795

This is so little money for him but just gives the situation an even worse smell.

Someone disposing KPower:
https://www.bursamalaysia.com/market_information/announcements/company_announcement?keyword=&cat=&sub_type=&company=7130&mkt=&alph=&sec=&subsec=&dt_ht=&dt_lt=

KPower share transfers taking place with Karim disposing:
https://www.bursamalaysia.com/market_information/announcements/company_announcement?keyword=&cat=&sub_type=&company=7130&mkt=&alph=&sec=&subsec=&dt_ht=&dt_lt=

Share transfers taking place with Karim disposing:
https://www.bursamalaysia.com/market_information/announcements/company_announcement?keyword=&cat=&sub_type=&company=7130&mkt=&alph=&sec=&subsec=&dt_ht=&dt_lt=

Today's speciality: Deep (re)fried ikanbilis - all you can eat (for peanuts)

Mabel #kamirise360 Mabel still confident. Nice to see

Posted by Mabel > Nov 2, 2021 10:52 PM | Report Abuse

Stock: [SERBADK]: SERBA DINAMIK HOLDINGS BHD

Nov 2, 2021 9:32 AM | Report Abuse

Possibly more deluded than Pearl White. However, maybe Serba pay you more?

Mabel Serba is so steady.

To Our Success !

Meow

Really steady.

Steadily, steadily, steadily downwards - oblivion is coming very soon, if trading is ever allowed again.

kamirise360 Why did he acquired now?

DATU HAJI MOHIDIN BIN HAJI ISHAK (a company director) acquired 11,000 shares at 0.195 on 03-Nov-2021.

In the past, when anything that looked negative for SCIB, Ishak bought shares but only in peanut amounts, I believe trying to convince everyone everything was OK in SCIB. It wasn't and it isn't.

ǷearlꙌhite .
A monumental and morale boosting achievement by SD. Re-rating agencies together with the consortium of financiers / fund managers / assets managers, have agreed that re-rating process can proceed. Well done SD!

...
..
...


You really need medical assistance.

ǷearlꙌhite .
This downgrade in rating was long ago determined with QR 30/6/2021 . Fitch is very backward looking. They have to go by the book anyway.

Anyhow, this is old news and what is monumental and morale boosting is what did happen after that.

Refer to SD key action plans for more information.

Note: Bursa and Fitch will not dictate what needs to be done, not even with suspension.



OK Pearwhite, let me take you to task.

Where is the action plan for Serba? I've only seen the "prophecies" of a delusional old man who both thinks he's in charge and that people take notice of his posts.

If Bursa does not dictate what needs to be done, who can?

What was monumental and morale boosting after Fitch's statement? I didn't see anything!

Fitch will have a major impact on who can lend money to Serba. The only other option is any government body going to put their head on the block to provide money when there is so much conjecture about the veracity of the Serba accounts? An election is coming.

You have made so many false statements in the past, your credibility is gone. Look back and you will be able to see where, like Unsteady ConPeepee, you changed sides and became an employee of Serba.

risingstar21 And i also think Karim is a real clever businessman

Yes, I agree. He has hung so many ikanbilis out to dry. A very long winter is on the cards for Serba - he needs something to munch on during that time.

stkoay 7.99 not match....8.00 also not match :(
03/11/2021 4:53 PM

Strange, I matched at 8.00 after 16:00 today! Maybe you were trying to buy too many lots? :)

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3206636

Ishak has really put his neck on the line to demonstrate his commitment.

He's "invested" RM2,145.00 on 11,000 shares. Follow his example and "ALL IN"

This just shows the contempt the BOD have for the people holding/buying SCIB shares.

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3206586

SUSPENSION OF TRADING
SARAWAK CONSOLIDATED INDUSTRIES BERHAD

The above Company has failed to issue its annual report that includes the annual audited financial statements together with the auditors' and directors' reports for the financial period ended 30 June 2021 ("AR 2021") to Bursa Malaysia Securities Berhad ("Bursa Securities") for public release within the stipulated timeframe i.e. 31 October 2021, pursuant to paragraph 9.23(1) of Bursa Securities' Main Market Listing Requirements ("LR").


Pursuant to paragraph 9.28(5) of the LR, if a listed issuer fails to issue the outstanding financial statements within 5 market days after the expiry of the relevant timeframes stated in paragraph 9.23(1) of the LR ("Relevant Timeframes") (the last day of the 5 market days is referred to as "Suspension Deadline"), in addition to any enforcement action that Bursa Securities may take, Bursa Securities shall suspend the trading in the securities of such listed issuer. The suspension shall be effected on the next market day after the Suspension Deadline.


In view of the above and in the event that SCIB is unable to submit the outstanding AR 2021 on or before 8 November 2021, trading in the above Company's securities will be suspended with effect from 9.00 a.m., Tuesday, 9 November 2021 until further notice.


Pursuant to paragraph 9.28(6) of the LR, if a listed issuer fails to issue the outstanding financial statements within 6 months from the expiry of the relevant timeframes, in addition to any enforcement action that Bursa Securities may take, de-listing procedures shall be commenced against such listed issuer.

topan What had happened due to somebody want to take ownership of sd from karim. Thats why karim sold warrants, scib and kpower to get cash for buying more shares of sd. To fail the other party from taking over sd and to maintain ownership of company that he build with sweat. Nothing wrong with sd, it is bau...

Ring, ring, ring, ring..... Time to wake up out of your beautiful dream.

If that was the case Karim would have bought RM4.35m of SD shares with the proceeds of the SCIB warrants, not just RM0.35m and pocket the RM4.0m.

pypw What Is Capital Reduction?
Capital reduction is the process of decreasing a company's shareholder equity through share cancellations and share repurchases, also known as share buybacks. The reduction of capital is done by companies for numerous reasons, including increasing shareholder value and producing a more efficient capital structure.

Understanding Capital Reduction
After a capital reduction, the number of shares in the company will decrease by the reduction amount. While the company's market capitalization will not change as a result of such a move, the float, or number of shares outstanding and available to trade, will be reduced.

Thanks for that.

Were the shares previously bought and held by the company? Otherwise I wonder where SCIB are going to get the money to buy shares to cancel?

Maybe Karim allows SCIB to cancel his shares for the greater good of the ikanbilis ;)

Honesty Boring Boring forum night again!! Time to sleep like a baby again~~

I have previously noted that your nurse gives you a clean nappy at bedtime.

Honesty Lebih lebih la this guy!!
Always cut and paste same old comment ~~
Maybe because he know his nonsense wont reach his target audience
OR maybe because he just dont have anymore thing to comment !!
Either way, if someone keep repeating his sentence, just make you wonder how truthful his word is …
Just like an advertisement, If the product always require an advertisement to sell; then maybe the product is just not good enough to sell by itself~~

Indeed, just like Karoom’s counter.

How much do you get paid per post? I believe SD no longer have money to pay the promoters

Honesty Trust the next time the counter resume trading would be after the SIR announcement!! And we the holders is pretty confident about our odds ~~
Maybe that is why we seldom defend the counter in this forum !! LOL
So just like the FOMO syndrome people syiok sendiri before they cry in sorrow once the counter resume trading ~~

You always defend, but not with any meaningful statements. It appears the SIR will be positive just by the strength of your willpower. Well, it can’t be positive. How much money has Karoom lost by not issuing the positive share – even worse, how much have the ikanbilis lost by believing in his companies?

By not issuing what you consider the positive share, his three counters are headed to oblivion. You may not have noticed but Karreem is selling up.

Honesty Macam real pulak !! First correct people boardcasting then now predict future shark movement ~~ menang pandai grab people attention!!
Memang org ni enjoy being the center of attention !! LOL

Indeed, you really like to be the centre of attention. Nothing meaningful to say but just say it repetitively.

Kakashi84 So consider good or bad news?

That, I do not have a clue. I was hoping that someone would enlighten me.

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3206319

We refer to the announcement dated 26 April 2021 and the circular to shareholders dated 8 June 2021 ("Circular") in relation to the Capital Reduction. Unless otherwise defined, the terms used herein shall have the same meaning as defined in the Circular.

On behalf of the Board, UOBKH wishes to announce that the High Court of Malaya had on 2 November 2021 granted an order confirming the Capital Reduction. The sealed order will be extracted and an office copy of the order will be lodged with the Registrar of Companies for the Capital Reduction to take effect pursuant to Section 116(6) of the Act.

The effective date of the Capital Reduction will be announced in due course.

Mabel There's more than 1000 counters in Bursa to make money...

Come back when SIR is ready...

Unfortunately, the (positive) SIR is unlikely to be released in this century.

A negative SIR appears to be readily available (on the shelf).

Honesty I know you are trying to create panic here BUT you got to know that the share will not resume until the positive SIR is released!! By then, whatever fake negative news you paint here will be wasted~~
So just save it !! LOL

You are the one trying to create panic to buy.

We sceptics are trying to moderate the hype down to a more realistic view.

As others have surmised, you are stuck in the penthouse and mortgaged off your house, car, wife and kids into Serba and you are panicking unable to look your family in the face and state you have screwed up both yours and their futures completely.

It is extremely unlikely a POSITIVE SIR will ever be released, the SIR will be negative.

Karim disposed so many SCIB shares less than 0.2...
Why he desperate in disposing the shares, he need money to cover big hole at Serbak which pending to resume trading.?
Disposed at 0.155 and 0.18 is too low compare current market price...
Next week Market could react negatively with share price could tumble below 0.2....

How about preparing to run, needs cash, as the Serba SIR is going to fry his backside

Huatexpert Karim disposed so many shares less than 0.2...
Why he desperate in disposing the shares, he need money to cover big hole at Serbak which pending to resume trading.?
Disposed at 0.155 and 0.18 is too low compare current market price...
Next week Market could react negatively with share price could tumble below 0.2....

How about preparing to run, needs cash, as the Serba SIR is going to fry his backside

supafly83 i am wondering if this a beginning of an economic collapse in the malaysian market or not. bluechip co turned to trash in 6 months.

SD only achieved the collapse through bad management - which, unfortunately, continues.

Blue chip companies are generally doing OK

Honesty I feel my competition are all school boys!!
No competition at all!!
Better go to sleep rather than talk to small little kid~~

Way past your bedtime, get the nurse to put you a clean nappy on.

Remember, wisdom comes with age but in your case, age appears to arrived on its own.

Honesty Better to be in a hallucination than to have a false hope in buying cheap ticket !!
Understand the desperation of wanting something so badly yet cant get it !! No wonder someone is so hardworking in trash talking here !! LOL

I'm not looking for cheap tickets. I won't (re)buy Serba, SCIB or any company run by any of the current board members, especially the CEO.

Honesty Boring here now !! Most trash talker has no substance ~~

Totally agree, your delusional rantings have no substance, just an admirable amount of determination.

bobvic96 Honesty No need to change anyone!! The chef is doing a good job ~~ He has stop the price from dropping now and is working hard on the SIR!’!
It is going to be really good for all of us ~~

He DID a good job then lost his way (got greedy?) and has since lead Serba towards insolvency.

Change him/them out, drain the swamp

The writing is on the wall for Serba, it just needs to be understood.

Robust 10+% profit through one of the hardest periods in the O&G industry (even without COVID) and in the role of a service company not an operator. This, at a time when everyone in the O&G business was hurting, including the operators.

2020 AR gets flagged by KPMG, Serba do nothing other than go on the offensive to destroy KPMG’s reputation and make a complete mess of it.

INEDs resign, new INEDs taken on

Q5 report on the same track as Qs 1 through 4 - everything allegedly OK.

Q6 report a drop from 11% to 1% profit. The new INEDs have to stand by this QR, their necks are on the line. Was the drop due to COVID suddenly affecting the bottom line? Even if it did why would the profit suddenly drop across all Serba’s operations worldwide? Other O&G companies that had been shutdown restarted operations between Q4,2020 and Q1,2021.

The SIR is very late! How long does it take to check the punctuation in LLC?

Will the 2020/2021 AR include a re-evaluation of the Q1 through Q5 results? The INEDs necks are on the line once approved.

Very little interpretation required.

Should Serba survive, the real share price is not RM1.6+ but more likely RM0.30. The Q6 report is likely to reflect the real finances of Serba.

Change out the BoD and let the company be salvaged.

https://www.theedgemarkets.com/article/aramco-warns-worlds-spare-oil-supplies-are-falling-rapidly

CAIRO/DUBAI (Oct 26): Saudi Aramco said oil-output capacity across the world is dropping quickly and companies need to invest more in production.

It’s a “huge concern,” Chief Executive Officer Amin Nasser said in an interview in Riyadh, Saudi Arabia’s capital. “The spare capacity is shrinking.”

His comments come with crude prices having soared 70% this year to around US$85 a barrel. Many major consumers, including the US, Japan and India, have called on producers to pump more.

The supply deficit in oil markets could worsen in 2022 if the coronavirus pandemic eases and more people fly, he said.

Declining rapidly
“If there’s aviation pick up next year, that spare capacity will be depleted,” he said. “It’s now getting to a situation where there’s limited supply — whatever is left that’s spare is declining rapidly.”

Several oil and gas traders have criticized governments and climate activists for calling on companies to stop investing in fossil fuels, saying that will cause shortages of energy in the coming decade.

Aramco, the world’s biggest oil company, is investing billions of dollars to raise its daily capacity to 13 million barrels from 12 million. It expects to complete the project by 2027.

Many Wall Street banks and OPEC+ members doubt there will be supply shortages next year. JPMorgan Chase & Co has said oil markets will shift to a supply surplus of 1 million barrels by March from a deficit of around 1.5 million barrels now.

Saudi Arabia’s energy minister told Bloomberg on Saturday there could be a “huge uplift” in crude inventories in 2022.

“We still have Covid,” Prince Abdulaziz bin Salman said, justifying OPEC+’s refusal to ease deep supply cuts it began last year any faster. “We still have jet fuel limited in terms of growth. If you do more now, you’re accelerating the problem.”

The Organization of Petroleum Exporting Countries and its partners are increasing daily output by 400,000 barrels each month. The 23-nation group, led by Saudi Arabia and Russia, next meets on Nov 4 to decide whether to change strategy.

https://www.theedgemarkets.com/article/aramco-warns-worlds-spare-oil-supplies-are-falling-rapidly

CAIRO/DUBAI (Oct 26): Saudi Aramco said oil-output capacity across the world is dropping quickly and companies need to invest more in production.

It’s a “huge concern,” Chief Executive Officer Amin Nasser said in an interview in Riyadh, Saudi Arabia’s capital. “The spare capacity is shrinking.”

His comments come with crude prices having soared 70% this year to around US$85 a barrel. Many major consumers, including the US, Japan and India, have called on producers to pump more.

The supply deficit in oil markets could worsen in 2022 if the coronavirus pandemic eases and more people fly, he said.

Declining rapidly
“If there’s aviation pick up next year, that spare capacity will be depleted,” he said. “It’s now getting to a situation where there’s limited supply — whatever is left that’s spare is declining rapidly.”

Several oil and gas traders have criticized governments and climate activists for calling on companies to stop investing in fossil fuels, saying that will cause shortages of energy in the coming decade.

Aramco, the world’s biggest oil company, is investing billions of dollars to raise its daily capacity to 13 million barrels from 12 million. It expects to complete the project by 2027.

Many Wall Street banks and OPEC+ members doubt there will be supply shortages next year. JPMorgan Chase & Co has said oil markets will shift to a supply surplus of 1 million barrels by March from a deficit of around 1.5 million barrels now.

Saudi Arabia’s energy minister told Bloomberg on Saturday there could be a “huge uplift” in crude inventories in 2022.

“We still have Covid,” Prince Abdulaziz bin Salman said, justifying OPEC+’s refusal to ease deep supply cuts it began last year any faster. “We still have jet fuel limited in terms of growth. If you do more now, you’re accelerating the problem.”

The Organization of Petroleum Exporting Countries and its partners are increasing daily output by 400,000 barrels each month. The 23-nation group, led by Saudi Arabia and Russia, next meets on Nov 4 to decide whether to change strategy.

Bgt 9963 Dead stock...!
16/10/2021 9:25 AM

If the oil price keeps climbing, Sapnrg's rigs will be in great demand and we can expect the stock price to do a Lazarus and rise from the dead.

Statements have been made that the current natural gas price is the equivalent of circa $200/bbl, gas having more value than oil is unheard of previously.

RE cannot fill the gap in the medium term, fossil fuels will be around for a while.

Invest123 Above RM2 soon
15/10/2021 4:37 PM

Please advise your reasoning for this prediction

tollebunsmith Hockhwapbb : LOL


bobvic96 is speechless.... due to my typos perhaps.
01/10/2021 12:40 PM

The meaning is understood, even if not all the words. And I agree.