Posted by Felix999 > 2023-10-20 22:47 |

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Posted by Nikmon > 2023-10-20 22:54 | Report Abuse

Disposal of scrap drill also need EGM, selling core assets worth billion no need EGM?

Why Felix think no need EGM?

Posted by Felix999 > 2023-10-20 23:35 |

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Posted by BobAxelrod33 > 2023-10-20 23:51 |

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Posted by Felix999 > 2023-10-20 23:57 |

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Posted by Huangbk72 > 2023-10-20 23:58 | Report Abuse

Once deal is confirmed.. you will get a shareholders report and EGM date.

Genting 1.22B usd sale, I think around I got 75pages document.

Posted by BobAxelrod33 > 2023-10-21 00:12 | Report Abuse

To be fair, if those deals are finalised, it would also take another year to execute.

When A4 paper are submitted, this time, Bankers/Creditors have to subpoena the selected suitor of the 2 to present written confirmation, with SnP. Bankers/Creditors need to attest to the sale and terms of sale if they hold the Debentures.......

Later, they may withdraw or cancel the deal and Lap SAP will once again submit more A4 paper for the second suitor........this may go on an on and extension for next 2-3 years.......all in almost 5 years wait.

Same corporate game for feet dragging........

Posted by BobAxelrod33 > 2023-10-21 00:13 | Report Abuse

Huang, Genting deal was clean, clear cut and only Genting Board and shareholders' approval required......

Lap SAP is a different story..............

Posted by Huangbk72 > 2023-10-21 00:23 | Report Abuse

Right.. from start bidding till we get circular.. maybe 1 year or slightly more.

The shareholders circular has valuation report, analysis etc etc

Posted by BE_GREEEEEDY > 2023-10-21 00:25 | Report Abuse

hmmm
thanks GOD
Assshole is alive
chargingg n kickingg

Posted by Felix999 > 2023-10-21 01:16 |

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Posted by BobAxelrod33 > 2023-10-21 01:25 |

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Posted by Felix999 > 2023-10-21 08:00 |

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Posted by Felix999 > 2023-10-21 08:05 |

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Posted by TalkNumberOne > 2023-10-21 08:20 | Report Abuse

Felixxx siao Kia sore ssssssss cannot sleep yesterday night. Hahahahaha love it when he change from doubting there is any buyer to now doubting whether the deal can happen

Posted by TalkNumberOne > 2023-10-21 08:21 | Report Abuse

Poor soul forever sad face and doubting. I bet he even doubt who is his parents and whether he is a female

Posted by TalkNumberOne > 2023-10-21 08:23 | Report Abuse

I am not as bad as you. I just want to lock in profit even a fraction would be what he can imagine his entire life and give free ticket for his family to stay away from his sad face

Posted by BobAxelrod33 > 2023-10-21 08:41 |

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Posted by BobAxelrod33 > 2023-10-21 08:45 |

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Posted by BobAxelrod33 > 2023-10-21 08:55 |

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Posted by Felix999 > 2023-10-21 09:07 |

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Posted by Felix999 > 2023-10-21 09:10 |

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Posted by Felix999 > 2023-10-21 09:13 |

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Posted by BobAxelrod33 > 2023-10-21 09:14 |

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Posted by BobAxelrod33 > 2023-10-21 09:21 |

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Posted by Felix999 > 2023-10-21 09:23 |

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Posted by Huangbk72 > 2023-10-21 09:25 | Report Abuse

Sale of SapuraOmV is not finalized. Bidding stage now.

Then EGM stage for both OMV and Sapura

Timeline at least 6-12 months

All these while, interest expenses doesn’t stop.

Debt will keep piling up

Posted by Felix999 > 2023-10-21 09:28 |

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Posted by Felix999 > 2023-10-21 09:30 |

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Posted by BobAxelrod33 > 2023-10-21 09:31 |

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Posted by Felix999 > 2023-10-21 09:31 | Report Abuse

Why start worrying you loose the challenge? You are the one came out with the challenge and I accepted your challenge. You don't run road when it hit 0.07.

Posted by Felix999 > 2023-10-21 09:34 | Report Abuse

Bidding process ended yesterday (this week). A few people already proposed the mas kahwin. Is now on OMV and Sapura Energy`s hand to select the most handsome guy to marry their beautiful princess.

Posted by Felix999 > 2023-10-21 09:35 |

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Posted by Felix999 > 2023-10-21 09:42 |

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Posted by Sslee > 2023-10-21 09:47 | Report Abuse

UNAUDITED AUDITED
As at end of current financial period preceding financial year
31/07/2023 31/01/2023
RM'000 RM'000

Non‐current assets
Property, plant and equipment 5,274,254 5,079,520
Intangible assets 262,064 246,068
Investment in associates 1,918,404 1,694,204
Investment in joint ventures 2,751,896 2,444,014
Deferred tax assets 115,769 106,727
Trade and other receivables 20,832 227,361
Deferred expenditure 73,429 84,070
10,416,648 9,881,964

Current assets
Inventories 418,107 386,193
Trade and other receivables 753,434 782,985
Deferred expenditure 25,728 22,111
Contract assets 558,546 687,586
Tax recoverable 68,587 92,421
Cash, deposits and bank balances 1,162,996 850,125
2,987,398 2,821,421

Non‐current liabilities
Trade and other payables 20,230 11,808
Contract liabilities 37,578 51,694
Lease liabilities 23,175 22,935
Deferred tax liabilities 49,981 38,287
130,964 124,724

Current liabilities
Borrowings 10,824,939 10,615,934
Trade and other payables 4,226,188 3,716,758
Contract liabilities 507,141 558,602
Lease liabilities 20,355 18,720
Provisions 524,809 426,549
Provision for tax 184,036 147,820
16,287,468 15,484,383


Can the sale of asset SapuraOMV worth about $1.2 billion settle the current borrowings of RM 10,824,939,000?

Posted by StingRay > 2023-10-21 09:53 | Report Abuse

May I know what is the meaning of washing ikan bilis? Get rid of ikan bilis? How and why? From my years of experience playing the market, shark need ikan bilis to hype up and create the volume so that they could exit. Why would shark need to wash ikan bilis? Thanks.

Posted by StingRay > 2023-10-21 09:54 | Report Abuse

Then who would hold the shares when shark want to exit?

Posted by BobAxelrod33 > 2023-10-21 10:05 | Report Abuse

Sslee, the TOTAL deficit and amount seek by Bankers/Creditors AND ALREADY GRANTED WINDING UP PETITION BY COURT IS OVER 15+ BILLIONS :

Sslee posted :
Current liabilities
Borrowings 10,824,939
Trade and other payables 4,226,188

Posted by Huangbk72 > 2023-10-21 10:06 | Report Abuse

Apa and Ama hold...

Posted by StingRay > 9 minutes ago | Report Abuse

Then who would hold the shares when shark want to exit?

Posted by BE_GREEEEEDY > 2023-10-21 10:09 | Report Abuse

CAN'T WAIT MONDAY
BIG GAP UP for sure , Dudes
MOM Sapnrg 10 SEN....DOTER WA 6 SEN
Our fren Assshole ..?...NOW a non stop CRYING Baby...

Posted by Felix999 > 2023-10-21 10:10 |

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Posted by Felix999 > 2023-10-21 10:13 | Report Abuse

Armada has debts, Yinson has debts, Velesto has debts.

Why you guys want to turn Sapura Energy as debts free company?

We are talking about exit from PN17 leh. business as usual only.

Posted by BobAxelrod33 > 2023-10-21 10:17 |

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Posted by Felix999 > 2023-10-21 10:25 |

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Posted by Felix999 > 2023-10-21 10:27 | Report Abuse

Are you fail your business sense? Go back to your business school study again.

Mana you sekolah??

Posted by StingRay > 2023-10-21 10:38 | Report Abuse

You need to be careful with that statement. Are you implying that the boss is doing insider trading? A boss may or may not own the controlling stake in a company. So, the shark work for free to help the boss get good salary?

Posted by Sslee > 2023-10-21 10:42 | Report Abuse

Current liabilities
RM'000
Borrowings 10,824,939
Trade and other payables 4,226,188

Current mean due for payment in 12 months time
It mean to include overdue, immediate due and due in 1 day to 365 days.

Posted by BobAxelrod33 > 2023-10-21 10:50 | Report Abuse

The DEFAULT IN REPAYMENT had been longer than past 2 years. Bankers/Creditors have been granted by Court to Wind up, pending an extension until early 2024.

And the Res Plan is due to Bursa by Nov 2023.

Hence, the "White Knight" saga on A4 paper from previous extension excuse is now on another episode..........

Posted by TalkNumberOne > 2023-10-21 11:09 | Report Abuse

Hahaha I gave up. siao kia saw light for a day and immediate back to level 180 of hell. Doom for life apa jadi siao kia? Saw your family sneak out of the house trying to avoid you. Look into the mirror and blame that sad face

Posted by Felix999 > 2023-10-21 11:43 | Report Abuse

RO already extended till March 2024, what Sapura has to do is settle the RM4.75b first. This figure not coming from me or any Tom & Harry.

Any idxt saying must settle total RM15b, please go back to your business school study again.

Read all the lines in the news below find that RM 4.75B.

https://www.freemalaysiatoday.com/category/highlight/2023/03/20/white-knight-to-rescue-sapura-energy-from-financial-abyss/

Statement formula:
Payoff 4.75b immediate due debts:

White Knight 1.8b
Sapura OMV disposal 2.865b (50% of RM 5.73B)

Total 4.665b

Another RM 0.085B or RM 85 million only coming from internal generated fund, Sap Sap water lah!!