Posted by DawsonL > 2019-08-30 11:24 | Report Abuse

@youarewelcome88...."If the restructuring goes through, Nik Hamdan will have a 4.51% stake in Barakah, down from 15.7% at present."

https://www.theedgemarkets.com/article/barakahs-creditors-meeting-spotlight

Nik's dumping is part of the restructuring, if now he is at around 5% , then meaning the dumping has ended. And the stock must be at least above 4cent or else Lecca will be at a loss to subscribe for 4 cent a stock when it's 3 cent now. Hence the stock is undervalued.

Posted by youarewelcome88 > 2019-08-30 11:49 | Report Abuse

@DawsonL... You can see the buying stream coming on very beautifully.... I love such buying trend

Posted by Newbiesky > 2019-08-30 12:07 | Report Abuse

provided that white Knight is Still there

Posted by OBAMAR > 2019-08-30 12:16 | Report Abuse

Later white knight also bail-out

Posted by Happy3933 > 2019-08-30 13:07 | Report Abuse

Later white Knight also bail out ???? Wah it's seems you know everything but you don't know yesterday closing price was 0.03 and not 0.025 as you mentioned.... hahaha...tukang tilik ?

Posted by OBAMAR > 2019-08-30 13:17 | Report Abuse

@Happy3933
Chill, everyone is entitled to their own opinion. It's a forum after all. If i can accurately predict everything i will become a trillionaire already :)

Nothing is certain in this world, can go up, there are also chances it can go down.

My opinion/statement not necessary direct to you, if you dont like it you can choose to ignore it :)

Posted by OBAMAR > 2019-08-30 13:19 | Report Abuse

There's no need to get so defensive if my opinion and/or certain forumers opinion is not in line with you.

Posted by Happy3933 > 2019-08-30 13:48 | Report Abuse

@Obamar..... kikiki....if you think my comment have offended you, my apologies but when you write something negative you should know there will be backlash... cheers.

Posted by youarewelcome88 > 2019-08-30 13:52 | Report Abuse

@obamar... If only you understand what opinion is. In your case, you find pleasure in seeing people in difficult situations due to the market movement. Its in bad taste. Or nasty, if I may add

Posted by zakryfaa > 2019-08-30 14:01 | Report Abuse

i think takeover soon, now Nik has no power, last time he dont want to sell. im hoping to get 2.5 cents

Posted by OBAMAR > 2019-08-30 14:12 | Report Abuse

Is there a part that mentioned we should only comment "positive" news??

Posted by youarewelcome88 > 2019-08-30 14:15 | Report Abuse

@obamar. That's not what I meant. You know what I'm saying. Cheers & Happy Merdeka Day to you

Posted by Happy3933 > 2019-08-30 14:17 | Report Abuse

No...but is there a part that mentioned we cannot write what we feel ??? I have already apologized if I have offended you, right ? So chill...

Posted by DawsonL > 2019-08-30 14:20 | Report Abuse

It's always good to have people with different opinion. Or else everyone will have same entry price/target price. Hahah.

Posted by OBAMAR > 2019-08-30 14:31 | Report Abuse

Cheers :)

Posted by Happy3933 > 2019-08-30 14:49 | Report Abuse

Cheers to everybody !! Have a nice holiday with your love ones...

Posted by youarewelcome88 > 2019-08-30 15:01 | Report Abuse

@zakryfaa...I tried buying at 2.5 sen the last 5 days. No luck... maybe you have better luck. The best to you...

Posted by Mabel > 2019-08-30 15:45 | Report Abuse

Mabel @kianweng123 i think buy sapura will better

I have Sapura too..

I would recommend my two best performing enegy counters...KNM and Velesto..

Otherwise, Armada is a better option...

....

Pretty outstanding & astonishing QR for Armada. Looking forward to have something similar for Barakah. I put my money when Armada was at the bottom of the pit.. Now she has awaken. This is the 2nd consecutive quarters, she's registering profits.. Armada is up by 16% today..

SUMMARY OF KEY FINANCIAL INFORMATION 30 Jun 2019
http://www.bursamalaysia.com/market/listed-companies/company-announcements/6271097
Revenue => 535,641,000 {536 million ringgit}
Profit/(loss) before tax => 102,551,000 {102 million ringgit}, Previously -584,775,000
Profit/(loss) for the period=> 82,122,000 {82 million ringgit}, Previously -592,209,000
NTA => 0.57
Date Announced=> 30 Aug 2019

Posted by Mabel > 2019-08-30 15:46 | Report Abuse

Just continue to hold your share here. I'm expecting no less here with Barakah..

Cheers!

Posted by DasWack > 2019-08-30 16:09 | Report Abuse

Hahahah last time when armada was in deep shit I also hold still gotten profit in the end patience is key

Posted by SuperPanda > 2019-08-30 16:12 | Report Abuse

Mabel, the way i see it, barakah will be a PN17. Please study the bal sheet properly and look at the liabilities. With petronas termination, operation at loss and -ve cash flow, business minded people will know it cannot escape.

Posted by SuperPanda > 2019-08-30 16:15 | Report Abuse

when armada drop to .145, it still have book value >.50, but for barakah, even its asset now cannot cover its liabilities

a PN17 cmpny before turn to PN17, it has criteria to be met and barakah meets them all

thats why in leaving this stock at .075

Posted by Mabel > 2019-08-30 16:19 | Report Abuse

Yes Panda, it is already PN17...

However, here's is an extract from Barakah Website

http://www.barakahpetroleum.com/bop/index.php/investor-relations

Barakah entered PN17 - Status in May-19:

• KL101 defaulted on instalment payments to EXIM Bank amounting USD2.65m/ RM11.08m.
• Drawn down amount in Aug-14: USD57.46m.
• Loan outstanding as at 16-May-19: USD42.32m.

What Barakah is doing?

Total liabilities as at 31-Mar-19: RM335.9m
• In the midst of finalising a scheme to restructure the Group’s debt with EXIM Bank and past due creditors.
• Completed revaluation exercise of KL101.
• The exercise resulted in an impairment of the asset.
• The revaluation deficit of USD39.0m / RM161.1m will be reflected for the financial period ending 30 June 2019.
• Embarking on a regularisation plan to:
• Address significant outstanding amount due to creditors
• Improve our net asset position
• Resolve the lack of utilisation of KL101
• The proposal of the regularisation plan to be formalised mid-2019.


Business Outlook


Focus on bidding for more projects
Estimated tender book value of RM928 million.
Active participation in pre-qualification for potential future projects bidding.

Execution of projects to sustain operations
Orderbook of RM600 million provides earnings visibility up to 2023.

Collaborate with stronger companies
Strategic tie-up with Vallianz.
Collaboration with Minsheng.
To explore areas of collaboration.

Utilisation of pipe-lay barge KL101 - Currently on hire as accommodation vessel for MCM
contract, offshore of Terengganu

Hence, I'm discounting this counter yet...I'm willing to wait until Q1 next year..

Posted by Mabel > 2019-08-30 16:28 | Report Abuse

I'm holding 9 Energy Counters. 7 are doing OK while two are potential turnaround companies with potential white knights rescue. One is already under regulation plan while Barakah is still work in progress as stated above. I'm prepared to wait until end Q1 next year to see what happen.

As it is, it's either, TOTAL LOSS OR A WINDFALL BONANZA!!

Posted by Mabel > 2019-08-30 16:30 | Report Abuse

As we speak at the time of writing, Barakah already climb more than 16%

I'm prepare to stay on for better and for worst...

Cheers Panda!

Posted by Mabel > 2019-08-30 16:33 | Report Abuse

@SuperPanda when armada drop to .145, it still have book value >.50, but for barakah, even its asset now cannot cover its liabilities

a PN17 cmpny before turn to PN17, it has criteria to be met and barakah meets them all

thats why in leaving this stock at .075

---

Noted Panda..

I understand, It's the choice that we individually have made...and I respect your decision.

Cheers and Let's continue to HUAT together in Armada, Velesto and Alam!

Posted by DawsonL > 2019-08-30 16:41 | Report Abuse

I think we should all have an open mind, that's the most important. Take in all critics that stock gets to make good judgement and practice informed thinking. I value all infos be it good or bad as long the intention is good, informative and not malicious ones. Cheers to all.

Posted by Mabel > 2019-08-30 16:43 | Report Abuse

Bottom line ...

As long as it’s above US$50 (per barrel), there is no reason to panic. Here's a good read

https://klse.i3investor.com/blogs/ongmy/222272.jsp

Posted by Mabel > 2019-08-30 16:47 | Report Abuse

@DawsonL I think we should all have an open mind, that's the most important. Take in all critics that stock gets to make good judgement and practice informed thinking. I value all infos be it good or bad as long the intention is good, informative and not malicious ones. Cheers to all.

Absolutely Dawson!

SuperPanda is definitely one the forumer that I respect. We shared many adventures together in other investments forum..

Posted by Happy3933 > 2019-08-30 17:25 | Report Abuse

Wah...so many good and informative comments....to me, still the same, believe what you believed until there are no more to believe. Dream what you dreamt until there is no more to dream. Cheers guys and gals...

Posted by W0099 > 2019-08-30 17:33 | Report Abuse

Still have chance lol not yet dead... :-)

Posted by Newbiesky > 2019-08-30 17:33 | Report Abuse

W0099, ekovest got good qr!

Posted by W0099 > 2019-08-30 17:37 | Report Abuse

Yeah Newbiesky.... Hopefully Monday can limit up... wakakka

Posted by Newbiesky > 2019-08-30 17:43 | Report Abuse

Monday is holiday tho

Posted by Mabel > 2019-08-30 18:05 | Report Abuse

@DawsonL For those that is trying to buy today at 2.5 cent , only 202 lot sold today equivalent to RM505 .(of today's 91833 lot done transaction [RM275398.00]). Unless the directors are dumping their stakes , I highly doubt any retail investors are going to let go of their stocks as shown today. Even with such bad QR , no one's selling , most are thinking about absorbing the circulating shares at an even lower price to average down. So if you really want to enter , the last 4mil shares at 3 cent (RM120k) whom people are letting go now should be your entry price before you start regretting not able to enter. High risk , high reward , this stock definitely will test your patience , experience and holding power. Remember , the stock market eats panic traders alive everyday, and rewards those who does their own due diligence well.
29/08/2019 7:51 PM

----

From trading perspective, 0.035 is a good price to end a day...

More than 16% is a definitely a good improvements


@DawsonL "If the restructuring goes through, Nik Hamdan will have a 4.51% stake in Barakah, down from 15.7% at present."

https://www.theedgemarkets.com/article/barakahs-creditors-meeting-spot...

Nik's dumping is part of the restructuring, if now he is at around 5% , then meaning the dumping has ended. And the stock must be at least above 4cent or else Lecca will be at a loss to subscribe for 4 cent a stock when it's 3 cent now. Hence the stock is undervalued.

---

This is certainly a very good information that you share DawsonL . It means there's light at the end of the tunnel. Earlier my concern was when will Nik ever finish off his IB margin call as it hinders the stocks to climb. With this latest information, it's a good platform moving a head as we have now "solved" the IB force margin on Nik's holding. As you remember Calvin use this weakness to promote his counter earlier.

Let's continue to share about this stocks. The more we share the more we are all informed on the developments of this stocks.

It's has been a great day, enjoy your weekend everyone !

Cheers!

Posted by DawsonL > 2019-08-30 18:52 | Report Abuse

@Mabel .. You're welcome,Mabel. I enjoy exchanging with positive peers like you. Good weeks ahead.
Cheers!

Posted by W0099 > 2019-08-30 19:41 | Report Abuse

Sis Ivy May I ask how old are u? :-)))

Posted by Mabel > 2019-08-30 21:36 | Report Abuse

I'm in the mid 40s Wendy :)

Enjoy your weekend Sis !

Posted by T800Terminator > 2019-08-30 21:44 | Report Abuse

Alam result getting better.....should buy more.

Posted by Mabel > 2019-08-30 22:16 | Report Abuse

Yes I notice that too..T800 ...

I have accumulated and met my target number of Alam. Just like what I did for Barakah..

I'm hoping to see positive result next year...we need to give time for the company to deliver and perform...

Posted by W0099 > 2019-08-30 23:26 | Report Abuse

Oki sis Ivy. You too yeah. Enjoy your holiday. :))

Posted by kenie > 2019-08-30 23:58 | Report Abuse

these sector listed company not too many but most of them in trouble sector business related 5 oil and gas,5 food industry,4 redchip,3 property contruction , 2 media.

Posted by kenie > 2019-08-30 23:58 | Report Abuse

Pending submission to authorities
http://www.bursamalaysia.com/misc/system/assets/21857/Status-of-PN17-and-GN3-Companies-Jul19.pdf

Posted by Mabel > 2019-09-01 22:24 | Report Abuse

@ kenie Pending submission to authorities
http://www.bursamalaysia.com/misc/system/assets/21857/Status-of-PN17-a...

Last night I had a great night treating my family. Thanks to Tony Fernandes's Mabel Airlines AA Special Dividend 0.90 per share...

Earlier, I shared that I'm holding 9 Energy Company. 7 of those are in the Top Nine O&G stocks that analysts have picked. The remaining are potential turnaround companies with potential White Knights rescue. Alam Maritime is already on target while our Barakah is still work in progress. Out of these 9, 5 is still RED in Profits based on the latest QR...

Armada was once a non performer with Kraken. They suffered and bleeds. So was Sapura and Velesto and KNM. Now they have recovered. What these company have in common is that they need TIME to recover. Barakah will follow soon. He needs a windows of at least 6 to to get his act together..

Since Profits and Loss seems to be the common parameters that everyone is looking at. Let's talk about Profits and Loss...

Many people failed to see that the term "Profit" and "Loss" in our real world is just a gimmick ( in the academic world it is an ideal platform to determine performance, but not in the real world ). In the real world, Profit and Loss are all "adjusted" for reporting ( owner normally have another set for his own use ). Since the "Profit/Loss" are mostly not reliable, we go for the the root of Profit and Loss... Revenue and Expenses.

High Revenue is good. High Expenses can be good or bad ( you have to use your own judgement here, different people have different idea of whether the expenses is good for the company or not ).

My favorite example, you walk to any chicken rice seller. You see that fellow selling non-stop... at the end of the year, he will reported a tiny profit to income tax. If you have not seen his sales volume, you will think he really make a small profit. There was a time, income tax department go and count how many chicken those hawker sell...but they still can escape from reporting high profit because he can still put in other things like depreciation of his chopping board, his working boots got stolen by the cat, he spend alot of money to learn the art of chopping chicken, he has to send his workers for holiday and etc.. he will be very creative. I know it sounds dishonest but this is how the reality works.This is a chicken rice seller, if you talk about Public listed Company, they have accountants... they are the master of cooking up figures, they will make make sure it is all legal.

Remember, Most of oil&gas company huge debt ,financial heavy losses ,low cash flow .

Company Cash Debt 2015 2016 2017 2018 2019 (2Q) current liabilities
armada 1.147b 6.826b -171.39m -1.940b 4.92 m -2.31b 69.77m 8.236b
alam 71.41m 124.9m -1981m -144.76m -145.84m -171.60m -4.3m 119.82m
barakah 22.51m 190m 5.59m 16.36m -216.72m -61.60m -52.30m 166.23m
carimin 15.09m 55m -2.79m 6.288m -24.35m -4.5m 19.81m 95.53m
dayang 214m 1.012b 202.01m 78.68m -63.83m 148m -8.4m 1.206b
daya 57.85m 230m -2.78m -200.9m -17.59m -170m -95k 413m
deleum 131.59m 72.43m 71.15m 49.76m 54.02m 29.82m 2.6m 276m
dialog 1.15b 1.687b 370.45m 368.72m 448.76m 502.1m 478.2m 1.493b
eatech 22.61m 378m 23.68m 21.54m -131.90m 90.36m 9.1m 356.67m
handal 4.23m 18.67m 11.42m -11.40m 0.28m -9.2m -4.9m 27.13m
hibiscus 221.21m - -45.27m 56.32m 62m 331.9m 299m 328.91m
icon 47.37m 648.71m -363.5m -149.82m -49.92m -437.7m -10.5m 671.55m
kub 99.29m 138.75m 28.53m 32.33m 40m 2.14m 2.589m 137.42m
knm 321.65m 1.325b 124m -316.64m -28.83m -787.7m 20.41m 961.9m
mhb 517m 100m 22.5m -135m 11m -124m -29.50m 706m
m&g 25.38m 997m 6.44m -131.16m -367.8m -61.71m -31.77m 125.59m
perisai 51.92m 1.233b -661.2m -339.12m -308.58m -513.20m -73.26 1.42b

It does not really look that bad for Barakah...

Let me remind you all that next year will be energy play. This year Gov emphasis on 5G, AI and energy many time..every where is now about clean energy.

Yes, use your extra money and be prepared to Hold....it's 50/50 either you win big or you lose big. Hence invest at your own risk. However chances of winning is still there. It's very difficult to be delisted especially when you have a company that is still having contracts and options with the new partners.

As Wuzy put it nicely....

@ Wuzy : All in 2.5 cents, after done restructuring, TP 50 cents ROI 2000%


Patience is a bitter plant, but its fruit is sweet

Happy Merdeka and Maal Hijrah Everyone !

Cheers!

Posted by Mabel > 2019-09-01 22:42 | Report Abuse

Caveat, the Profit and Loss analogy was taken with pride from one of our discussion in the energy company.

Cheers!

Posted by speakup > 2019-09-01 22:58 | Report Abuse

delisting soon?

Posted by Mabel > 2019-09-01 23:02 | Report Abuse

Not so soon speak up..

Posted by Mabel > 2019-09-01 23:03 | Report Abuse

Just take a look at Sumatec next door..

Posted by Mabel > 2019-09-01 23:05 | Report Abuse

It's very difficult to be delisted especially when you have a company that is still having contracts and options with the new partners.

Posted by youarewelcome88 > 2019-09-01 23:24 | Report Abuse

@Mabel... I enjoy that chicken rice analogy. Fully agreeable. I am expecting Barakah to rebound next week... 2.5 sen is history. Future margin calls will no longer be damaging as what we have seen the last 2 months. Cheers