E&P listing probably nobody wants to buy, too expensive and poor earnings.

That Affin Hwang analyst must have some insider news as to report the impairment of goodwill assets RM8.5billion to reach target price of 40cents. Somebody is starting to collect now.

Selling pressure is getting less

40 cents coming. Be prepared

Petronas only impaired RM13billion last year versus RM1.1billion this year. That Affin Hwang said Sapnrg will impair RM8.5billion this year. So crazy....

Why when media was talking about EPF losing billions ringgit in Sapnrg, EPF never comes out to clarify? It could be the first possible scenario:
1) "Why should I clarify if the information is wrong"
Or
2) " Why should I clarify when the information is confidential?" Short sellers confidential information?

Short sellers who borrow shares from EPF to sell, eventually will have to buy back and return to EPF. By then you will see sapnrg at RM1.40. Just a matter of time.

If you notice, KWAP has been increasing its shareholdings. EPF can appear as :
Borrow shares to short sellers-they sell
Short sellers buy back shares, return back to EPF as buying. Since March 2018, short selling is legalised formally. So in this way EPF is actually not losing any money.

weng77, that I why I said, if Sapnrg is indeed in financial troubles as mentioned by Affin Hwang, with massive RM8.5billion impairment, Sapnrg will retrench a lot of workers already. So as you see, all these are just rumours, no facts yet. Somebody is buying cheap before election.

Scenario 1) "why should I clarify when the information is wrong?"
2) "why should I clarify if the information is confidential?"
3) "why should I clarify if the information is right?" ??? Insider trading going on????

RM8.5billion impairment to cut its target price to 40cents and everyone believed it? That is really the most interesting event in Bursa. Media should go and clarify with Shahril, but Shahril's inaction will make everybody believed that the rumours are true. So let us wait and see then who is right and who is wrong, why didn't Shahril come out to clarify? For E&P listing Sapnrg came out to clarify very fast. For this one, nobody bother to clarify. So it this right or wrong?

Tan Sri Shahril needs to be mindful if he does not manage this crisis well, the public will lose confidence in him and Pakatan Harapan together. So if the public thinks Shahril does not know how to manage a company, Mokhzani don't know how to manage a company, then it will reflect really bad on Pakatan Harapan. So be careful Sapnrg will reflect the winning rate of Pakatan Harapan.

Scenario 1) Affin Hwang analyst is right---leaking of insider information
2) Affin Hwang is wrong---reputation goes down the drain.....but never mind because got money already.....
It is getting really interesting now....

On the other hand, Affin Hwang how come so confident talking in media about RM8.5billion impairment? Don't he feel scared that if he is wrong by end of March 2018 his reputation will go down the drain? If his reputation would go down if he is wrong, why would he still want to talk to media at the expense of his reputation at stake? Unless.....hehe.....money can make a everything change .......money money gain somewhere..

The funny funny thing is, how come medias don't go and ask Shahrul? Media just asked Affin Hwang? Media paid to go ask Affin Hwang? Or Affin Hwang got paid for interview?

With these, you know how true this rumour is? If the analyst is indeed leaking real information, he can be sued. So if Affin Hwang is leaking wrong information, he cannot be sued. Because he cannot be sued, so he can happily leak wrong information to the public.

Using a standard human brain, when we hear rumours, we will ask Shahrul is it true or not? Shahrul can choose to answer or not...however, those analysts and medias are now "leaking information " to the public without even verifying it. And it is so funny Shahrul just sit there goyang kali and let the rumours going on and on and on....

At 40 cents, RM8.5billion impairment is already completed. Market is always irrational. Where got people pricing in something that has not even happened? And those analysts and medias start talking about it without even verifying the information with Sapnrg CEO?

Now everyday we wait at 40 cents first. Once Pegaga announcements we buy 50 cents up. So Shahrul wants to announce Pegaga now or after 31March2018?

Affin Hwang is trying very hard to talk down to 40 cents. Let us wait at 40 cents. Remember at 40 cents Affin Hwang factored in RM8.5billion of asset impairment.

Maya could be representative from shark asking us to buy to unload their shares to us?

Many are waiting at 40 cents

50 cents broken, next level 40 cents. Wait at 40 cents.

Not sure you guys realise or not? Trump imposes tariff of 25% on imported steels and aluminium will massively increase shale gas operators' cost, which will definitely reduce the output of shale oil and shale gas. On the other hand, Brazil's steel price will plummet---> good for Sapnrg operating there as steel and aluminium is their cost for oil and gas rigs. With higher oil price and lower steel price, Sapnrg operating in Brazil will earn more money this year.
Right now about 20% local institution 20% foreigners 10% retail investors owning Sapnrg shares. They are just forcing this 10% shares out of retail investors' hands before pushing it back up to RM1.50. This is their tactics. So whoever bought at below RM1.00 no need to worry. Just keep there you will definitely earn.

My estimation: RM1.2billion revenue
RM1billion operating expenditure
RM200million interest expenses
? Foreign exchange gains/loss
? Impairment RM1billion max
NTA RM1.90
Cash position RM1.6-1.8 billion
---> share price estimation of 50% NTA=95 cents.
This should be the real report.

Then we wait for updates on the USD5billion tender plus Pegaga project awards (Sapnrg or MMHE???)

With the above news, it can go up to RM1.40-1.50 in less than 1 year.

With current Sapnrg share price at 40 cents, its impairment estimation is at least RM 10billion in this year. Do you think it is possible or not? Market panic is due to such rumours circulating exacerbated by Affin Hwang talking about impairment of RM8.5billion goodwill assets ignoring its last quarter revenue of at least RM1.2billion, as compared to UMWOG revenue of 100plus million. 5 tender rigs are still in operation and 1 additional rig is drilling in April2018. Whatever happened eventually the fundamental will prevail. I think this one has political motives to press down so that opposition does not have money to be sponsored by this company. Last report showed that RM1billion plus was used to pay down some debt which was intentionally ignored by Affin Hwang analyst.

UMW OG NTA is 38 cents whereas Sapnrg NTA was RM2.06. This is the difference.

By now many insiders would have known the details of the financial reports. Most likely not as bad as what Affin Hwang says. Exaggerated to be. Many have seen the reports and started selling at 70 cents. At 40 cents they most likely will come and collect. Bottom is very near already.

You are right. This chaotic cycles were created by short sellers and with the help of HwangDBS and Affin Hwang, exacerbated by EPF selling, and institutional selling. However, Sapnrg management team should come out to clarify but they did not. The cycles will not stop until some miracles happen. Our Bursa SC is also not helping. So buyers just watch and not buying yet.

Pmaster you are right. This "NIGHTMARE SCENARIO " usually does not happen. Traders can manipulate this counter so much is because of 52% market Free Float. Affin Hwang and HwangDBS working with foreign funds hands in hands to force retail investors selling all their shares to them.

Affin Hwang's analysis report assumed losses for engineering and construction for last quarter 2018 may not be correct as there is restart of ONGC project in India and Turkey Tanap Project end of quarter three in 2017.

Affin Hwang estimated NTA 66 cents for 2018 due to massive impairment of goodwill RM8.5billion is also incorrect. As we know many projects are under bidding process which could use those assets so no company will impair the assets while submitting those bidding that requires those assets. That is another wrong point of the report.

RM46million sale loss of Sapura 3000 will mean less RM46million loss this quarter- improved quarter financial.

Forex exchange gain/loss depends on USD/MYR exchange rate at that time.

This year there will be increase in OPEX by oil majors due to stable oil price above USD60. So scenario is different compared to last year.

USD5billion bidding at late stages so this can replenish orderbooks. Mokhzani will only buy back Sapura later unless 40 cents is low enough for him. He needs money for election.

Aminvestment gives target price of RM1 due to assumption of NTA of RM2- compared to Affin Hwang which gave NTA of 66cents. So we can see the motives of these investment banks. HL also assumed NTA of 66 cents. If there is such massive impairment, we should see announcement of massive retrenchment of workers--which do not occur at all. Somebody can also check on Sapnrg hiring online to see yourself.

So in conclusion- just buy. You will get rewarded in less than 1 year.

1)RM8.5billion impairment for 2018 with NTA 66 cents-unlikely.
2) Not getting any contracts for 2018 to utilise its RM8.5billion assets-unlikely
3) Negative cashflow until no money to pay debt- debt restructuring-unlikely
4) If the above are true, how is it bidding USD4billion of new contracts?

Yes, don't worry.

Yes, the true bottom is very near now because Affin Hwang report has given us a clearer way to trade this stock short term. 40 cents per share is a crazy price right now, with assumption of RM8.5billion impairment of goodwill assets. That is crazy. That is also based on assumptions that Sapnrg will not get any single contract for its RM8.5billion assets. Also, Affin Hwang has assumed that the negative cash flow for 1 quarter is the result of debt payment, which is not necessary so. Third point of listing of E&P is bad for Sapnrg share price is also not right because the hugh cash generated can be used for many purposes that can increase Sapnrg shareholders values. Same for airasia that monetised its assets and brought its share price up to RM4. Just believe in Shahrul's capability. In addition the fact that Sapnrg can bid for more projects will ensure high winning rate compared to other oil and gas companies. Brazil is the place forward. Next is Africa.

Affin Hwang might not be correct in its interpretation and information. By right Affin Hwang should have released the report after the financial results. But they chose to release this report at this time to create panic selling. Why? To justify their own bad reports before this? RM8.5billion asset impairment? Come on, are you kidding?

It needs RM8billion impairment to reach NTA of 66 cents. This is what Affin Hwang claims.

SAPE is currently sitting on RM8.5bn of goodwill post completion of the Sapura Crest and Kencana Petroleum merger and acquisition of Seadrill. RM8.5billion good will impairment

HwangDBS and Affin Hwang are connected? One short sell another one writing "bankruptcy report"?

Affine analyst report caused panic selling. He predicted Sapnrg's NTA to reduce to 66 cents from RM2.06. That is crazy impairment of RM1.4 per share= RM8.3 billion impairment. That is crazy estimation.

Today more people will enter at 50 cents. Watching closely.....

At 50 cents, short sellers are more worried than us. So don't worry. Based on current market capitalisation, it is 0.25x NTA, a hugh discount. In order to justify such selldown, Sapnrg needs to have impairment of at least RM10billion, which is unlikely.

Yes, super cheap, just buy.

Traders yesterday collected RM50million 50-52, now morning they sold RM30million 52-55. Afternoon traders will collect back 50-52.

By afternoon they will push to 50 cents

Short term bottom found. Traders want to absorb all force selling lots first. 0.55 is the resistance here

Possible....if all the fund's margin accounts were reduced by banks, then it is possible these selling by margin calls will continue. More reasons to collect.

Another possibility is about E&P listing. If the listing price is RM1, then with 1:1 for Sapnrg shareholders, then you buy now 50cents, you get RM1.50 upon listing. So don't worry just buy.

This is what happened after short sellers created panic selling. Coupled with some margin calls, so it ended up selling at any price. These irrational selling creates opportunity for traders to buy at low price.

No worry. Short sellers should be more worried than you now. If they continue their short selling at 50 cents, they are going to lose big. Right now it is time to enter.

Correction: they lose RM5million immediately

RM100million selling at 60 cents, buying back 65 cents---they lose RM50million immediately. So short sellers are more scared now at 50 cents.

Short sellers will be forced to buy back when shares rebound