accumulated losses at company or consol level can be quickly cleaned with some accounting entries - that should settle it?

total borrowings have been decreasing steadily, cash balance has been stable. additional borrowings will typically be ringfenced to the SPV created to take on the project; any dividend-related terms imposed will likely be on the SPV, not the group

of course, one can wait for the board to be confident enough to declare dividends again (i.e. no flip flopping) before being bullish on BAB, or buy it in anticipation of said dividends being the catalyst for further capital appreciation of the stock.

on privatisation - my view is unlikely unless its at a fraction of its current price, say... 50%? why should TAK (1) pay a premium to other shareholders for a company he already controls (2) take on whatever financial risk tied to the group, alone (3) get stuck with a private entity which is unlikely to have an equity story for fund managers (not green/ESG mumbo jumbo) if he wants to relist it? Payback period and IRR is going to be shit and he'll be better off collecting interest on his cash - unless he's got a view of ready buyers for a stable of FPSOs, which is not many in the current market... maybe an offshore juggernaut like CNOOC or MODEC

only ~RM300m of accumulated losses.. another 1-2 quarters of profit will clean up the balance sheet and dividends will come 🚀🚀🚀🚀🚀🚀

to those who got into genting C2O - congratulations