From the latest result, drilling seems like picking up, but E&C is the one lose the most and still struggling, just wonder would they sell off E&C or E&P.

If they manage to restructure the debt from vendor, next Q probably can break even....return to profit may another 2 Q I guess.

Some oversea company also facing same challenge like SAIPEM, in Malaysia OnG sector are worst as Petronas is bullying oil service sector. MHHB, Velestor all are still struggling not mention about some already PN17 like Bara , TH heavy.

Withe chaos created by previous regime, 100million pay slip, non profitable contract, over expand, covid impact. The new management still able make the company stay afloat...I believe it is not an easy job.

Gas price so high but E&P still making loss.....what is going on...E&P should be not control subsidiarie of Sapura....

Haha, the infamous SD's supporter in SE now...lol

Armada sell asset like crazy to pay debt, not sure why SE don't want to monetized some asset. Probably this is bank reluctant to move.

Every day announce new winding up petition....no one dare to touch this counter. Haha

Pearwhite shit lo.....haha

This almost certain delisted before suspension lifted...

PNB if want to privatized, need Sapura Brother approval who held 15% share may not agree on cheap sell.
If Sapura brother want to privatized, need PNB approval who held 40%,

Any third party like petronas want buy Sapura for the Oil/Gas asset, need PNB or sapura brother approval who held 60% collectively neither of them want to sell cheap.

Not easy to privatized I guess, so no worry. But the price will stay below until next year. Haha

Just different version of the story, SD Top management may plan to cash out slowly started with Warrant, than release news like moon investment or crypto investment for cash out slowly, but Bursar disrupt their plan.

In the first weeks after the suspension, SD launch attact Bursar and SC hope to lift the suspension. Until the bond defaulted and property procurement cancelled. The stock is beyond fixed.....so now they would prefer the suspension never lifted.

But what next to ensure recover their personal loss, so plan change release statement without approval by auditor, call AGM on eve of Chinese NY to ensure 3 million go in management pocket. Than follow by now JM appointment to avoid allocate asset or money to creditor, this proposal is not favor creditor.

Haha, simply guess only, treat it as bed time story.

What and how AT priorities resources, 100k also don't want to pay, are they plan to sell E&C ....can sell to MHB/Petronas, haha

Haha, you definitely right, she/he may be a old folk... But definitely is a shameless and stupoood one....lol

Huangbk72 Haha Superrr

This Kacang Putih is 100% not Karim.. Not even his shoe licker. Doesnt have the required intellect and analytical mind.

Some young kid, invested all savings in SD, now trying to console himself all is fine and dandy.
18/02/2022 11:05 AM

If AT manage to turn around by end of this year, he will become legend.

Aiya, the failure of this company is obvious

1. For the past few years, the CEO only draw around 100 million yearly, use private jet and other benefits, and don't don't forget 10 million yearly pay to Sapura group for using the name 'Sapura', there may have other leakage through crony..

2. On top of those problem done by previous management, covid cost has exacerbated the situation, operator don't want pay the claim, subcontractor also don't want to pay the covid additional cost. Project delay caused by closed down and additional cost from supply chain issue.

Without the first issue faced by Sapura, MHB, SAIPEM and other still struggling to turn around as at today

Not that I think the company may turn around, but the new management lead by AT have done a good job to keep the company afloat and contain the issue within Malaysia. Last Q still manage to win a billion jobs under circumstances.

Not easy lah, AT has done super super good job leh.

Haha, barakah PN17 long time de....KNM also PN17, Scomi also PN17....SD also PN17....

SE still early but expect the price remain until next year la.

It is not fair that SE bully by operator not paying the covid cost, than vendor also don't want to absorb the covid cost. Go down together....haha

New star management is playing fire for the best interest of the group.

100k also cant pay? Cant pay or don't want to pay those crony?

This is the 3rd court case lose....still want to challenge Bursar and pay more money to bursar....haha

Only stupoood punter lose money, Karim and the team collecting salary happily, bursar got pay by SD after SD lose the court case.....

Lol

MHB reported loss in last Q....sapura will follow, I guess majority of the oil service player will report loss cause skew by Petronas...cause petronas is sucking by gov in the name of covid aid..

PNB got 40% but sapura brother have only 15% share......sapura brother won't feel the pain...

Still no release of SIR? Seem like SD prefer delisted...haha....retailer died lookoo....haha

Justice Ahmad Fairuz also ordered Serba Dinamik to pay RM30,000 costs to Bursa Malaysia.

Haha, bursar won, should buy bursar instead

Haha. congratulation. hahah

High Court strikes out Serba Dinamik’s bid to stop Bursa Malaysia from compelling company to release fact-finding update

https://www.theedgemarkets.com/article/high-court-dismisses-injunction-application-serba-dinamik-stop-release-factfinding-update

Haha, ambank analyst is on the extreme side.....

Yeah, expect another of loss quarter, the turn over I guess only happen in next Q.

Yunlin project are in deep shit probably worst than Sapura, they are still pending regulatory approval on extension and structure change so terminate maybe a good move....there are 11 turbine been setup since last year, but till today only 1 turbine start function....yulin side got deep shit problem...

Haha, institute keep selling at 5sen for the past few months....just wonder which institute

Once the SIR make public, definitely will be scrutiny by media and public, to seek accountability.

Than SC possible charge Karim on insider trading ....

Release the SIR is not favor by Karim but good for retailer, so retailer can get some money back

Suspended until delisted, I guess SD will appeal drag longer so that can continue enjoy the benefit being a public listed CEO.

If suspend lifted, Karim may need to worry about force selling, I believe it will rather drag under current circumstances.

Assuming the provision loss for Yunlin project, if no amendment every penny spend may lose another penny...haha, better terminate and settle in court.

Now sapura 3500 are able to work on other contract which can generate profit immediately...better than work under Yunlin project making more loss.

Court case will drag few years before concluded...it is urgent to put all the asset in work to generate profit.

I think this is a super good news but doubt the price will fly, still the main issue is liquidity still remain and pending the divestment result

Is it possible write back 300-500 million from provision of loss for Yunlin project which was made in Q2? I guess not able turn around but probably can reduce the loss..

Har...termination of the contract is good news, Sapura300 loading money non stop if keep boned by the Yunlin contract....only 21/80 tubing installed after 2 years delay...it is the wise move to terminate the contract. Taiwan border contract is strict,. But the covid cost beared by Sapura...if continue like this, another billion loss inccured.

SAIPEM also lose money, MHB also lose money, worst still New star management just the took over less than a year from previous infamous management. Probably won't turn around until 2Q2023

SAIPEM going to announce huge loss in coming quarter, I think local oil service company will not spare

If the divestment is success, insider already start collection, looking at the volume now mean....

when in oil century, feeding those crony is not a problem, but now those crony is burden of country, petronas and oil company.

get rid of it is good for the industry.

SE dose not clarify the complaints from vendor on 180k payment overdue reported by focus.

this is good move, no need bother this kind of vendor....already commit settle in jan, complaint and make report before due data for only merely hundred k....what a joke for a company.

he can take legal action after jan still not payment....why choose to resolve this kind of dispute via media? maybe is some crony from previous regime, empty shell company......

Focus didn't seek clarification from Sapura also, this seem like against journalism ethics,

Posted by JJchan > Jan 22, 2022 8:42 PM | Report Abuse

some Sap's vendor are spoiled brats. Average private sector payment during Covid era is 4--6month And Gov.( public sector ) can go as high as One year....almost every Co in Malaysia
is Not paying On time. I think it is Time SAP delete / remove financially weak Vendors----Good
time these Vendors never say SAP is Good pay master, bad times they cry infront of camera

It is interesting that Focus did not seek clarification from SE as well before publish the story.....

The article imply that SE steal from the supplier by not given acknowledgement after receive 'stock' from supplier so that supplier can't invoice them...interesting

Made public the complaint instead of issue legal letter or make police report?

Need money for CNY? Burn the bridge for less than 200k....must be Chinese company, need money to give Ang Pao.

Just wonder why supplier choose to made the complaint now, not next month since SE promise to settle by Jan 22, can't wait for another week after waited for 6 months?

Vendor complaints payment overdue 6 months and still counting...reporting by Focus today....

Andy said target to finalized by end of 2021 but may delay depend on bank feedback. I guess chances to get waiver is high, but else will drop further. Just speculate possible good news based on the last few days price trend.

Possible go into PN17 if waver not granted by creditor, waiting Andy to announce soon.

If not mistaken,sapura brother direct or indirect 17%, those proxy are fully own by sapura family I guess.

It was reported by the edge, 10 million annually for using Sapura name, Taib does not want to set a date to change the name despite being asked by reporters several times.

SE still paying 10 million to Sharill to use Sapura name, so I don't think PNB has the fully control of SE yet, Sharill still have certain level of influence in Sapura.

LNG classified as green by EU soon, I think this will has huge impact to Sapura, provided SE manage to survive from current criss.

Bankruptcy is wasted. There are a lot good asset which should remain under local company.