Who are the one rejected haha

Good news, at least 75% creditors equivalent 10 bil ++ approve the restructure plan, next step is get court order to enforce the debt restructure plan

If need to wait for big boy, why not approve the extension, consistent with court order until march, but Bursa choose silent lol

Yeah suspend first, this Bursa wanted take action, but what they afraid?

By right it should be delisted as 2 weeks passed the due date...Bursa silent on this matter, no credibility...under wahid also same

Bursa decide hide this matter under carpet...neither accept or reject overdue a week d...haha though decision

Maybe 1.6 or 1.7 bil. Around 3.6 bil

OMV has confirmed negotiation with interest bidder ongoing, expecting receive high hundred of million for oil assets in Malaysia

Inefficient Bursa, no wonder market so unattractive from foreigners

What Bursa cooking, unable to reply an application after more than a month ++... Yes or no only...lol

PNB 1 billion loss....haha

I don't think there is a way salvage this, PNB is quick certain bite the bullet, with less than 2 month before expire, 1 billion loss, opposition won't miss this kind of opportunity, I billion loss woh

Around 10% of next profit from last year's, dividend for bumi gaping to be suck in 2024

RM1 billion via a two-for-five renounceable rights issue of new RCPS-i at 41 sen each.

It is worthless now and expire soon in next month..

PNB is the first casualty 1 billion loss.

Bursa neither reject or accept the extension request SAP, Bursa just silent but due date near, 2 days left

PNB won't convert, not making business sense, can it redeemable, regardless which move it take, PNB going to making huge loss I think.

The key is still restructure, the EGM also no sound, deal with creditor by end of the year....

12 days has passed since the submission, Bursa may announce the faith of SAP anytime

Who and how much win the bid to acquire SAPOWV, we may get the news this coming week!!

I believe whoever spare their precious time in SAP forum are interested in this stock, either bear or bull group, so nothing wrong to wait for SAP news which may announce anytime

The announcement on the sale of SAPOMV and Bursa news, success or fail, all here are waiting waiting

Where is the EGM...still no updates on the disposal of Sapomv

Whoever unable to read the announcement by themself correct, is and idxxx and deserve to lose money. I believe all here understand the status of the application lah. Why worry.

No worry, let see extension is granted or not, very soon Bursa will reply to SAP's request . No need to argue, Bursa will reply within days .either this week or early of next week.

Haha, I think the news is genuine, but read carefully, 'RHB inved...haha

@huangbk72



If this announcement is true.. Only until 2023

Bursa angry lo...
Posted by AnakUlarSawa > 1 hour ago | Report Abuse

On behalf of the Board of Directors of the Company, RHB Investment Bank Berhad wishes to announce that Bursa Malaysia Securities Berhad ("Bursa Securities") had vide its letter dated 1 November 2023 resolved to grant the Company an extension of time up to 31 December 2023 to submit its regularisation plan to the regulatory authorities.

BNM and Courts have already extend until Mar 24, so I think Bursa will just follow, extend until Mar, won't more than 4 months extension with stern warning.

The key question is the restructure plan execute and approval from creditors. Current price is support by the slow but progress structure plan, next is the sale news of SapuraOMV. Since early of the years, CEO repeated target to close the deal with creditors by end of the year. Nothing is certain.

Is beyong repair, either foreign bank or gov compromise

After submit the restructure plan, 1 year or more upon agree with regulatory for execute, the plan should be able to submit if already finalize, I guess foreign bank do not agree on the restructure.

Put aside whether should Bursa grant the extension or not, what do think if SAP bankrupt, what would be the impact, (what if)

I guess reason is simple, if you are small fish, bank will bankrupt you overnight. 10,000 staff lose their job overnight. Suppliers will never received 5 billion, 700 million worth of share will gone. Asset will sold by bank creditor.....PNB will lose 3 billio overnight....

If not mistaken, from the record, SAP always submit within a week before expired, can refer the company previous announcement, 3 years already, how Bursa respond, I bet only 3 months extension, with warning...

Application for extension submitted a month earlier before due date on 30 Dec, I guess SAP not confident and ready for appeal.

Hope to get an meaningful update on Wednesday..

Disposal of scrap drill also need EGM, selling core assets worth billion no need EGM?

Why Felix think no need EGM?

Bid due by this week, how soon they will announce the winner...next week, then will call EGM for approval?

EGM to sell the OVM stakes....when when....2023 going to end..CEO promise by year end, notifications should send in a month advance ..where where ..aiks

EGM, CEO mentioned an EGM may held in Nov or Dec.....seem like delay again? Not looking goods why no updates on the restructure plan ....

This is why restructure updates is the most important, not oil price not drill rate. Now need to wait until end of year which is the new target date from CEO. Provided extension is given by Bursa

A lot unnecessary toxic fighting here. But SAP not looking good, keep dragging won't help the situation, even with hight drill rate and good performance from subsidiaries, but is still making core loss...where is the light from tunnel CEO saw last month...no update at all on the restructure plan, this is the only thing matter. CEO mentioned EGM in Nov and Dec, going delay again?

No significant progress update on restructure, so it is doom. Seems like not able to meet Nov and Mar due date...after 3 years creditors still not willing to give way, will they able to strike a deal in 3 months unlikely.

SAP also not care, start diversment and restructure plan with or without agreement from creditors

3 years of negotiation with creditors still not able reach a principle agreement, ....seem like just waiting Gov step in
.

The CEO accepting the challenge to turn around a 15 billion debt which inheritance from the ex-CEO sharill ..he should be part of Finance Ministry department

With such terrible situation and cash trapped company still can secure billion of billion contract, cash balance also improve gradually.

The management teams have done a fantasy job, it is a role model for othe GLC company.

Look at the winding petition cases SAP receive, but the team still stay strong and stay with the company since the restructure started few years ago...

Sapura Energy’s debt restructuring efforts, which underpins its regularisation strategy, are progressing positively.

Without the principle agreemey by Nov, will Bursar accept the regulisation plan, after 2 years of extensions, would Bursar extend again...

The aforesaid extension of time is without prejudice to Bursa Securities’ right to proceed to suspend the trading of the listed securities of SEB and to de-list the Company in the event:

(i) the Company fails to submit its regularisation plan to the relevant regulatory authorities on or before 30 November 2023;

(ii) the Company fails to obtain the approval from any of the regulatory authorities necessary for the implementation of its regularisation plan; or

Risk is very high now...delisting..CEO target to close a principle deal by end of year..

No progress update on restructure...fail...delisting by end of Nov and winding petition all linining up in Mar24... it must finalize immediately and required few months to execute it

If SAP not able to submit restructure plan by the due date, it will become 0 sen and delisted, but if he manage submit, sky is the limit.

Doom is more likely, but you never know unless you are insider..any significant good news from restructure progress will send it to the moon, else....fell to hell...

Anytime from now, doom or boom, haha

@singor, u sound like the deal with creditors still far from reach!!!