As long as the SOA result out, price will react..

Even price go up 500 USD, but SAP fail to strike a good deal with creditors is also useless..

I believe the next event would be monetized more asset likes rigs and subsidiaries, than only bank will agree on the haircut, then only Gov step in to push

1. SAP sell 3 rigs and 1 subsidiaries as per rumors raise 1-2 billion inclusive 3000 as working capital
2. Creditors cut 60%
3. Gov special grants to pay off 40% or 6-7 billion.
4. PP and consolidation next year to further reduce debt.

No doubt, without haircut and gov step in, SAP is certain going to fail.

But if haircut success and support from Gov, either one will make the price fly.

After debate between UMNO and PKR, Najib keep mull support from Gov toward SAP's contractor until recently. no more than a word about SAP from Umno for past few weeks. it do suggested that support from Gov is on the way already. I don't think Najib care about SAP, but they need support from the thousand of sub contractor.

Debtor has taken legal action issue winding up petition, court only granted until next year march.

Ironshirt
. I say let fight
bankruptcy for 5years and used what ever Sold Rigs money for Other Projects. What Can Debtor Do??

Check the upstream news, sub contractor hold goods and deliverables because SAP didn't pay early of this year.

3 bil out of 8bill need to pay to sub contractor immediately if 50% haircut. else will bankrupcy. Then need another 2 bil as stated earlier for operation and biding..

Total 16 billion debt, which white horse got such appetite if without haircut.

As stated, SAP plan to sell 3 rigs only
11 are contracted..

500 million interest cost per year, haircut is a must...

Are you lose your mind, a peeny counter + PN17 counter, it is speculative counter. Now only you know after hanging around here so long

---------------------------------
Billionman
its now becoming speculative stock

No need wonder what is the new BLT rate lah....16 billion debt with 600-700 million interest a years, not possible to pay. Delisted and bankruptcy.

All depend on Gov now or UMNO

Dr Stanley Choi lo

AA can get funding from foreigner easily. SAP is BUMi asset, only can own by BUMI. So only gov has capacity to become white knight.

Key issue is still the debt, if debt restructure not success, sure delisted. If success, sky is the limit. Gov play a important role in ensure the success of the debt restructure. management has done their best under current circumstances, they still manage to afloat and won 2 billion contract from regional.

Sapura a PN17 company, rig utilization ratio is even higher than velesto....not bad.

Only left 5 rigs to sell, 11 rigs has long contact started next week. Can sell 2 to ICON

Sapura Drilling Asia Limited has been awarded new contracts from PTTEP for the provision of tender-assist drilling rigs Sapura T-10, T-11 and T-12.
The new contracts will commence in Q3 calendar year 2022.

Haha, is a loan with no interest, then creditor accept 40% instead of 70%, better than subsidy payout 77 billion.

Subsidy is worst compare to support SAP

Simple narrative, PKR will not support Bumi company like sapura,

If PM not follow, will impact his reputation, look at chicken subsidy, PM made big U turn after UMNO supreme meeting.

For Sapura they just waiting for right timing. Announcement before GE, execute after GE.

Good for SAP, not good for creditors.
Court granted restraining order until next year, soon creditors will accept a slightly lower haircut, this is the turning point.

10 million worth of share change hand during pre -closing in 5 minutes is almost equally 1 week traded amount...

10 million worth of share change hand at pre closing period...petronas?KWSP?MOF?.....maybe Anwar or najib

Extend another 6 months, equivalent death sentence to Sapura,

1. Sub contractor will not provide support since no payment from sapura for next 6 months.

2. How to get new funding for next 6 month to operate..how to get new project.

MOF is step in soon

Debt restructure seems like will fail, extend another 6 months for what, how to do funding within 6 months..more like abandon hair cut which UMNO strongly oppose....MOF step in soon. SAP not about operate without new fresh cash..

After leaks from MOF by the edge, MOF neither agree or disagree the report..haha seems like saving sapura is imminent.

The vote on the debt haircut is on next week, if Sapura debt restructuring success and gov aid....back to glory is just matter of time with such high gas price. Drilling rate is at record high, this year will be oil sector year.

It has been up more than 100% , I think it worth to goreng and worth to hold...haha

@singor for long term, aid from Gov is not enough, debt haircut with bank is essential. For long term lah.

Short term just goreng, nothing to do with business

LU tomorrow, another 50% -70% up tomorrow more likely

Sapura brother 16% PNB 40% probably only 30% share left for trade..

now new pointed SC chairman also from Gov......just goreng lah nothing can stop Sapura back to his glory......this will be narrative of UMNO for next election coming soon.

just follow them to goreng to this counter, so many chance to buy in at low price.....

Now gov and umno is openly goreng this counter with the name of saving rakyat, saving bumi company....lol....

Than MOH can ask Sharill to sell their 5% share to MOH with discounts price, so this will clear Sharill name. It is good for Sharill also, cause he still holding 11%, so can benefit from share price surge..MOH own 5%, can sell the share priceafter increase 1000%

new shares will not favour to PNB, dilution of share will cost PNB loss immediately, i don't think UMNO will agree on this, as Anwar will use this to attack UMNO the aid are cost PNB rakyat lose money

direct capital injection 5-6 billion with grant to clear the short term loan, they will just loan to Sapura with lower interest and longer tenure like 10 years. but they need to ensure the debt hair cut to be success, so they tied the bank loan and debt own to subcontractor, this will easy to meet the 70% agreement from creditor as Maybank, CIMB are hold bigger portion of the debt.

i believe the outstanding debt is 15 billion, inclusive outstanding amt to subcontractors...

4 billion injection not enough lah, not only need to handle the short term debt, Sapura also need 1-2 billion cash flow for current project and bidding for new project.

After success of Sapura, UMNO will use this to show how they Support Bumi company, this narrative will kill opposition.. although I don't agree...haha

Zagid not stupi, he know the plan and leverage sapura to show the support from him toward bumi corporate. So UMN will definitely ensure Sapura success.

Election near by, they will do everything to ensure Sapura success, UMN is the gov lah..

Is it confirmed that gov will aid sapura, but 15 billion debt haircuts also need to success, Finance Minister will need to ensure this. Else it will become issue for next election. So UMNO will ensure Sapura success,

Petronas direct aid is not making sense, so I guess with the 100 oil price, they can fasten the covid claim disbursement project and more project to Sapura directly

Getting Sarawak company involvement is to tackle local politic at Sarawak, if this fail Sapura can ensure that Sarawak subcontractor are not letting out.

Just a question, if petronas confirm take over Sapura, what would be the price ?

It is almost certain than SAPURA will get aid from Gov, now the the question is when and how.

Since this is confirm, price definitely will react tomorrow, maybe at least 50% up tomorrow, simply guess only, don't take it seriously

Any take over or bail out can only start after debt restructure...won't be so soon.
First must get approval from creditor...if can't bankruptcy is almost certain.

With 10 billion debt, no bail out can success.

i don't like 1mdb, but somehow he really good in gaining attention and 'buy' vote without using money.

if you are one of the contractor or sub-contractor of Sapura, you will found he really care about us and help us who impact by pandemic. Sapura has around 5k staff + 5k staff from vendor, and family member. this will help him to get more vote leh.

on other side, people who impact by Sapura will hate PKR who dump them and show no mercy to them.

haha, this why the ex-CEO who received 100 million per annum was kick out mah. and the previous regime has already move out one by one.

but the ex-CEO still holding 14% of share, so save SE he will still benefit even he is no longer in current management.

this will be the ugly true, for ex-CEO he will still enjoy his luxury life regardless SE situation. Gov not saving the SE, ex-CEO is still billionaire, Gov save SE, ex-CEO is still billionaire. not much impact.

the one who suffer are sub-contractor, worker if the Gov didn't bail out SE......

so is like are you willing to give a chance to AT and SE, or you think they deserve to bankruptcy.

if Gov as guarantor to loan money to Sapura so that it can recover and protect the oil asset fall in to foreigner cheaply and avoid mass retrenchment. yeah i guess this is a common strategy adopt by western as well cause the downfall of SE is partially caused by disaster pandemic. Gov didn't lose any money, Creditor can recover portion of the loan, no retrenchment and oil asset still remain under SE.

the problem i guess is now majority don't trust the SE will recover under AT leadership even with the support form gov. if you believe AT can rebuilt the company SE, i guess everyone will agree that Gov to grant loan for SE.

Sell the lumit yard to petronas, than focus on gas and windfarm, this will allow them to get cheap bond and attract more foreign investor.

Indeed, ular beloved king shahril is super famous in the industry globally...haha


"I really feel for Datuk Anuar. He inherited a horrible mess from his overpaid predecessor, the egotistical Tan Sri Shahril Shamsuddin, who headed the company from July 2004 until his spectacular fall from grace in 2021"

Haha, anyone can check back my comment easily, since Q322, Im already become pessimistic that it won't start recovery mode in 6 months at least...

This ular as a Sharill supporter....I believe most of the genuine investor well aware about the 100 million pay slip took by ex CEO who brought SE to Holland....