Posted by TalkNumberOne > 14 hours ago | Report Abuse

Good morning Mabel. Where is uncle emotional damage? He followed you some where else and don’t know his way back? 😂😂😂

Posted by SinGor > 13 hours ago | Report Abuse

There nothing "said" SAP will pay off 10bil Loan Except to Deposit total proceed in MayBank----So in SAP
books, 3.37Billion SapOmv money is recorded as Cash ( plus current cash balance--SAP have about 4.5Bil )
Plus other Asset fair Value---SAP should have 6.6--7.0Bil Asset Vs 10bil Loan----Can Call Bursa to consider
Exit Pn17 ( 17bil losses --- are mostly from impairment losses during Covid )
Anybody inject 1.0 bil Cash will be very helpful to exit Pn17

Posted by TalkNumberOne > 13 hours ago | Report Abuse

Singor, today egm done already?

Posted by Mabel > 11 hours ago | Report Abuse

This is Mabel's understanding from today's AGM...

Today Mabel has voted with 99.97% Voted for this remaining 50% stake of OMV while the remaining are against it. This Disposal will not part of this deregulation, however it will be used to pair down our debt.

FYI, Sapura Energy Bhd (Sapnrg) initially bought SapuraOMV for US$898 million back in 2014 from Newfield Exploration Co. In 2018, they sold half of their stake to OMV AG for up to US$975 million. Recently, Sapnrg sold their remaining 50% stake in SapuraOMV to TotalEnergies for US$705.3 million (approximately RM 3.37 billion), which included US$530.3 million in cash and US$175 million in debt relief. This sale resulted in a net gain of about RM 793 million for Sapnrg

Our Group has scaled up collaborating with MIDF to meet the milestone dateline of 30th Nov 2024. We are target to exit PN 17.

The status of loan repayment will be done in conjunction with the regulation. The group will update the shareholders as we progress, as the debt restructuring involves three tiers: Group debt, Operation, and Subsidiary debt. As of the latest reports, Sapura Energy Bhd (Sapnrg) has a total debt of approximately MYR 10.9 billion. This includes multi-currency financing facilities and outstanding payments to trade creditors.

White Knight (for capital injection) is confirm and a letter has been received on Feb 24. Identity of white knight will remain anonymous. to preserve the identity. It will be announced by the Board when the time is ripe.

Malaysia Bolih!

Posted by TalkNumberOne > 11 hours ago | Report Abuse

Mabel where you got the statement “ to meet the milestone dateline of 30th Nov 2024” ?

Posted by Mabel > 10 hours ago | Report Abuse

That's the dateline is Bursa's dateline to submit Regulation Plan..this is cuming from the CEO during the EGM..

Posted by TalkNumberOne > 10 hours ago | Report Abuse

Wow, I know the dateline. Just wanted to verify if they will go for the dateline. Looking at the urgency I suspect yes and you have confirmed the statement

Posted by Mabel > 10 hours ago | Report Abuse

Cheers T#1

Malaysia Bolih!!!

Posted by nisah395 > 7 hours ago | Report Abuse

Is that final dateline or extendable?

Posted by Mabel > 6 hours ago | Report Abuse

Yes, the deadline of November 30, 2024, is the final deadline for Sapura Energy Bhd (Sapnrg) to submit its Practice Note 17 (PN17) regularization plan to Bursa Malaysia. This extension was granted to ensure that Sapnrg can meet all regulatory requirements and complete its debt restructuring efforts.