Posted by Mabel > 2019-09-18 22:20 | Report Abuse

@Angus Kuan Lol. While I am holding an insignificant amount here, I cant comprehend your happiness with the 0.3 to 0.35 resistance. It is just appearing to be a pull-push that has been rolling in between 3 and 3.5. The momentum is not here yet..

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Here's why it is not moving.

BETWEEN Aug 26 and 29, notable changes in shareholding included those in Barakah Offshore Petroleum Bhd. The oil and gas outfit’s president and CEO Nik Hamdan Daud saw his shareholding reduce to 84.84 million shares, or a 10.15% stake, after he disposed of 45.24 million shares.

In an Aug 27 filing with Bursa Malaysia, Barakah said Nik Hamdan’s shareholding was reduced to rectify a shortfall in personal margin account position.

Unless force margin by IB, Nik is still keeping his grip of his holding in Barakah.

Here's are the potential upside

It is worth noting that Barakah had sought legal recourse against national oil company Petroliam Nasional Bhd (Petronas) for suspending an operating licence for three years, and is seeking RM1.02 billion in damages from the oil company.

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

Background story

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.

Posted by Mabel > 2019-09-18 22:21 | Report Abuse

Let's continue to listen for all these potential upside..

Posted by investortrader88 > 2019-09-18 22:38 | Report Abuse

queue 0.03 since last week.want to average down my average price 0.06.tmrw continue que again.want to huat huat just like investors here who have faith in barakah. need to be patient.

Posted by Angus Kuan > 2019-09-19 09:12 | Report Abuse

Lucky my average is only 0.033

Posted by Mabel > 2019-09-19 09:25 | Report Abuse

You are one of the few very lucky ones who managed to buy on dips..

Sharing more good news...

US Fed cuts key interest rate by quarter-percentage point !

Gold ends higher, heads lower in electronic trade after Fed cuts key interest rate
Published: Sept 18, 2019 2:31 p.m. ET
https://www.marketwatch.com/story/gold-prices-edge-lower-as-traders-aw...

Like that all the funds and capital will flood into Asian Countries included Malaysia already !
Huat ah ! Heng ah ! Ong ah !

Posted by Happy3933 > 2019-09-19 09:41 | Report Abuse

@Angus... your average price is only 0.033 !!! You sure are one of the lucky ones, after averaging so many times, my average price is @0.045....just be a bit patient and I'm sure all of us will be rewarded handsomely.... The Power of Dream.... cheers....

Posted by Angus Kuan > 2019-09-19 09:48 | Report Abuse

Hope so... hope Bara wont get screw by Petronasm lol

Posted by youarewelcome88 > 2019-09-19 10:13 | Report Abuse

Talking about price averaging, I think the hero is the Chosen One who managed to buy 202 lots at 2.5 sen.... Don't worry, I'm not the Chosen One... Ha ha

Posted by Angus Kuan > 2019-09-19 10:36 | Report Abuse

that is really hero. Sell now at 0.03 also already earn 1k.

Posted by youarewelcome88 > 2019-09-19 15:38 | Report Abuse

Pretty quiet market. I would suggest that we should all continue buying till our average price falls to 2.5 sen.... What say you guys & gals?

Posted by taloha > 2019-09-19 18:34 | Report Abuse

guys long time no see, congratulate to those who believe and still holding armada & knm
by the way, im still holding barakah too haha

Posted by youarewelcome88 > 2019-09-19 19:15 | Report Abuse

@taloha...gone for a long holiday? Good that you are back again... Cheers

Posted by youarewelcome88 > 2019-09-19 19:17 | Report Abuse

@taloha... To be honest, I think many of us are forced to be loyal to Barakah... Ha ha

Posted by Mabel > 2019-09-19 19:58 | Report Abuse

Well done for those that's still holding.

I believe Barakah needs to come up with positive news before we starts buying again.. At least that's for me as I have already accumulated substantial shares in this companies at various different intervals..

I still believe in the O&G rally. Most of the energy counters are bullish. Barakah even though it does not shoot up like Armada, KNM etc for it to sustain at this level is still commendable.

We just need some good news for it to move up. I can tell you when that happens it will moves up very fast..

Posted by Mabel > 2019-09-19 20:21 | Report Abuse

Whether US will take out their Strategic reserves and if so, by how much remains a question. The current stabilisation of Brent at 64-66USD/barrel can only be temporary because shipments of oil and gas for winter is about now till November. ( in the cold countries , the purchase of energy peaks during these winter months).

Contracts have been locked in and suppliers need to fulfill contract or declare a force majeure ...either way, buyer and seller will suffer.

So, I am of the opinion that urgent announcements on measures taken to restore supply does not reflect the actual situation on the ground.

Whats the first reaction? Everyone will panic to store up and demand this time is real.

This is why I think all energy companies will rally this year...

Posted by youarewelcome88 > 2019-09-19 20:25 | Report Abuse

@Mabel... My take on what my 'power of dream' holds... Serba will represent Barakah in the talk with Petronas. Discussion successful thus suspension lifted. Serba will not only come in as its strategic partner but will also assume control of Barakah. Good bedtime story? Hopefully that's in the works....

Posted by Mabel > 2019-09-19 20:31 | Report Abuse

Good one indeed.

FYI Dato Karim the CEO of Serba is selling his share today.

So it's up on speculation that he is buying into another energy company..

There's rumour it was KNM but it was denied by Serba..

It could be Barakah as mentioned by our friend here earlier.. Serba was interested in Barakah but it was Nik who stopped it earlier..

So you never know.. This bed time story could be real.. Anything is possible these days..

As the saying goes, everything is possible at the right price..

Posted by youarewelcome88 > 2019-09-19 20:48 | Report Abuse

@Mabel... You are the match-maker, don't forget that. I am just a dreamer like @Happy3933.. Ha ha. Cheers

Posted by youarewelcome88 > 2019-09-19 21:06 | Report Abuse

@Mabel.... Shahril make way to PNB & OMV so that Sapura can lives.... on. I would expect Nik to do the same. Barakah is too dear to him.

Posted by Happy3933 > 2019-09-19 21:08 | Report Abuse

Hahaha....@88... sometimes it's good to dream. Once you start dreaming, don't ever let dream stop. I'm one of the old school type so I can only say Nothing is certain until the fat lady sings. Cheers to our Queen Mabel and all the dreamers....

Posted by youarewelcome88 > 2019-09-19 21:17 | Report Abuse

@Happy3933... I enjoy your spirit flowing. Hopefully Barakah is a dream come true...

Posted by Happy3933 > 2019-09-19 21:45 | Report Abuse

@88.... frankly speaking, I don't know much about shares market, this is not my playing field but I always believe in myself. Barakah will always be Barakah... The Power of Dream... cheers to you....

Posted by youarewelcome88 > 2019-09-19 21:58 | Report Abuse

@Happy3933... We are in the same boat... Oops, car actually. I am also still learning about the share market... Cheers

Posted by Mabel > 2019-09-19 22:28 | Report Abuse

Change in the Interest of Substantial Shareholder (201909183600232)
Company Name SERBA DINAMIK HOLDINGS BERHAD
Stock Code / Short Name 5279 / SERBADK
Date & Time Announce 18/09/2019 07:00:01 AM
Subject Changes in Sub. S-hldr's Int (Section 138 of CA 2016)

Content
Substantial Shareholder's Particulars
Name : MOHD ABDUL KARIM BIN ABDULLAH
Address : -
NRIC/Passport No/Company No. : -
Nationality/Country of Incorporation : Malaysia
Descriptions(Class & nominal value) : Ordinary shares

Name & address of registered holder
You are advised to read the entire contents of the announcement or
attachment.To read the entire contents of the announcement or attachment,please
access the Bursa website at http://www.bursamalaysia.com

Details
Date of Change No of shares Price Transacted(RM) Transaction type
17/09/2019 1,000,000.000 0.000 Disposed

Description of other type of transaction :
Circumstances by reason of which change has occured

Nature of interest : Direct Interest
Direct (units) : 345,776,400
Direct (%) : 23.546%

Indirect/deemed interest(units) : 0
Indirect/deemed interest(%) : 0.000%

Total no of shares after change : 345,776,400
Date of notice : 18/09/2019

Remarks
You are advised to read the entire contents of the announcement or attachment.
To read the entire contents of the announcement or attachment, please access
the Bursa website at http://www.bursamalaysia.com

Posted by Happy3933 > 2019-09-19 22:29 | Report Abuse

@88... hahaha, you are wrong, we are not in the same car, your's is a Rolls Royce Phantom and mine is only a Mini Clubman and hopefully will turn into a Bentley.... have a good rest, comrade.

Posted by Mabel > 2019-09-19 22:38 | Report Abuse

Cheers to all of you too...

Remember what Honda said..."The power of dreams"

Armada and KNM all started from the above statement..

Posted by youarewelcome88 > 2019-09-19 23:27 | Report Abuse

@Mabel... What you're saying about Serba's CEO makes good sense. He will be buying into Barakah in his personal capacity, initially. I would expect him to buy at least 5% shareholding. Being a substantial shareholder is important for it shows his seriousness. He will then declare his interest in Barakah. Once in, he, together with Nik will guide Barakah out of the challenges. The Board of Serba will only come on board at a later stage. It is less restrictive to guide Barakah out of its challenges in his personal capacity. The problems with Petronas are not cast in stone. Polite diplomacy is all that is require. Serba and Barakah are perfect match. I am really encouraged now... Thanks Mabel

Posted by Happy3933 > 2019-09-19 23:59 | Report Abuse

@88... kikikiki... now you know why I always address Mabel as our Queen here....

Posted by youarewelcome88 > 2019-09-20 07:45 | Report Abuse

I must also add that Serba will not comment on private dealings of its directors or major shareholders. The individual himself will make the announcement. Expect lots of smokes but see no fire. Or in other words... Haze. Ha ha

Posted by youarewelcome88 > 2019-09-20 15:26 | Report Abuse

Just bought some...

Posted by Mabel > 2019-09-21 12:21 | Report Abuse

Well done 88!

Posted by youarewelcome88 > 2019-09-21 20:25 | Report Abuse

Ha ha....sikit-sikit saja. I feel retail buying is gaining momentum. Not much impact though.

Posted by Happy3933 > 2019-09-21 22:56 | Report Abuse

@88.. sikit2 lama2 jadi Rolls-Royce... cheers and have a nice weekend...

Posted by youarewelcome88 > 2019-09-22 13:39 | Report Abuse

@Happy3933... it's actually to bring my average costs to 2.5 sen.. Ha ha

Posted by Mabel > 2019-09-23 12:28 | Report Abuse

88,

Today I join you to average down...

Cheers!

Posted by youarewelcome88 > 2019-09-23 17:06 | Report Abuse

@Mabel... You are great company. I intend to buy a little bit more later. Your 'hint' makes good sense...

Posted by Mabel > 2019-09-24 09:49 | Report Abuse

Today, I put in more queue to further average down

It's cheap sales and I'm continue buying on weakness to capitalize on O&G rally

All it needs is just one positive new to rockets.

Cheers!

Posted by KAQ4468 > 2019-09-24 09:51 | Report Abuse

woooooo
syiokkkkk ni

0.035


dulu aku main @ 1.4


97.5% drop

Posted by Mabel > 2019-09-24 09:51 | Report Abuse

Very strong support at 3.5 and all the concern has been factored into the current price.

Just one positive new to rockets.

Cheeers!

Posted by KAQ4468 > 2019-09-24 09:56 | Report Abuse

Mabel ..... u already in ?



scomi pun pernah 0.035 ... now 0.12



Perisai pun pernah 0.035 .... now lepak kubur @ 0.005

Posted by Mabel > 2019-09-24 10:03 | Report Abuse

Yes 68, I'm already here since beginning this year. Now averaging down my holding !

Happy and Great to have you here too :)

Cheers!

Posted by Mabel > 2019-09-24 10:07 | Report Abuse

@KAQ4468 Mabel ..... u already in ?



scomi pun pernah 0.035 ... now 0.12

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Indeed 68!

Posted by Jmz88 > 2019-09-25 09:15 | Report Abuse

Nik still unloading... barakah hard to fly like this

Posted by Mabel > 2019-09-25 12:12 | Report Abuse

This one I need to understand

Is he unloading or is the IB unloading his shares?

If its the later, under what conditions can an IB do it for him?

Does this mean he has no money to pay his margin call... Hence IB is releasing his share to collect some money.?

If this is the case, it means his shares will be diluted and the shares are taken by the retailers... Right?

Posted by OBAMAR > 2019-09-25 12:16 | Report Abuse

Or is he unloading before the ship sink ...

Posted by Happy3933 > 2019-09-25 12:41 | Report Abuse

Ship sinking ??? Gua manyak takut oh...

Posted by Jmz88 > 2019-09-25 12:44 | Report Abuse

@Mabel - i believe it's IB unloading his shares due to margin call. And yes, his holding will be lower and shares taken by retailers. So in theory, there are indeed buyers taking up Nik's shares. However, since there is constant selling like this, really hard for Barakah share price to go up, though definitely can see there's very strong support at 0.03. Am looking to collect some to further average down

Posted by Jmz88 > 2019-09-25 12:56 | Report Abuse

You can refer to this @Mabel : http://www.bursamalaysia.com/market/listed-companies/company-announcements/6290477

Posted by Mabel > 2019-09-25 12:56 | Report Abuse

Thanks Jmz88...

I have started doing that too to capitalize on O&G rally..

Cheers!

Posted by Jmz88 > 2019-09-25 12:57 | Report Abuse

Nik sold all at 0.035 this round, his personal holdings is still 8.917% of Barakah i.e. still major shareholder