TalkNumberOne

Singor nice hearing from you again. Hope for the best

1 week ago

nisah395

Is it possible to exit PN17?

1 week ago

TalkNumberOne

I am worried. Emotional damage uncle gone missing. 😂😂😂😂 I hope he didn’t sell underwear sailang into sapnrg. Wouldn’t want to be in the same boy with someone worst than newbie

1 week ago

Nikmon

After sale of SAPOWV by Q125, money received must pay to creditor base on PRS, so PRS need approval creditor, before Court convent, it needs shareholder approval on the PRS, before that it needs Busar approval the plan which contain the PRS....busy busy month ahead

1 week ago

SinGor

Bankers get the bulk of the Sales proceed ( bcos this the agreement with CORPORATE DEBT RESTRUCTURING COMMITTEE ) Local small creditors ( suppliers and contractors get "Nothing yet " ) Gov has received a request
to extend one billion loan in budget 2025 to pay small Boys

1 week ago

Nikmon

Other creditor particular non local suppliers may may raise this to court if local suppliers received payment out from the PRS scheme

1 week ago

TalkNumberOne

Gentlemen, let’s wait for the story to unveil it self over the next few weeks

1 week ago

TalkNumberOne

Another week start without emotional damage uncle. Is this a good sign or a bad sign? 😂😂😂 answer is no sign, worst than newbie uncle wont be able to give much info except noise

1 week ago

Dav Yau

Do not worry, when the time comes they will know what to do. Plenty of time to see their Mission Impossible. Sapura has until March 2025. Just sit tight and collect your MONEY when February or March comes.....

1 week ago

TalkNumberOne

https://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=152622&name=EA_GA_ATTACHMENTS

1 week ago

TalkNumberOne

lai Liao lai Liao, big or small going to open soon

1 week ago

Nikmon

MCF is pushing the deal as soon as possible, they will enforce collect the 3 billion if the PRS fail to get approval within the agreed time frame....

1 week ago

Mabel

KUALA LUMPUR (Nov 12): Sapura Energy Bhd (KL:SAPNRG) said on Tuesday it has accepted the terms and conditions set forth by its multi-currency financing (MCF) creditors for the proposed disposal of its 50% stake in SapuraOMV Upstream Sdn Bhd to TotalEnergies Holdings SAS for US$705.3 million (RM3.37 billion).

Among the conditions is that net proceeds from the disposal will be held in a segregated account held by Sapura Energy’s wholly owned subsidiary Sapura Upstream Assets Sdn Bhd (SUA) at either Malayan Banking Bhd (KL:MAYBANK) or Maybank Islamic Bank Bhd, according to Sapura Energy’s bourse filing on Tuesday.

SUA will then create a first ranking fixed charge or priority claim over the net sale proceeds and the segregated account in favour of Maybank Investment Bank as the security agent for the MCF creditors. The charge will remain in place until the restructuring process is finalised, with the funds designated to pay down Sapura Energy’s debt as part of its ongoing debt restructuring plan.

The group had filed applications to the High Court to seek validation of the disposal and the creation of the security arrangements.

On Nov 4, the court granted Sapura Energy the necessary approvals and ruled that the creation of the security arrangement was valid and beneficial to its overall creditors, even though it can be considered a preference for the MCF financiers. The court also confirmed that the proposed disposal did not require court approval to proceed.

The company also affirmed that the net sale proceeds from the proposed disposal would be used solely for reducing Sapura Energy’s liabilities, even if the planned debt restructuring scheme is not approved or sanctioned by the court.

Back in April, Sapura Energy said SUA had entered into a conditional sale and purchase agreement to divest its 50% equity interest in SapuraOMV to TotalEnergies for US$530.3 million (RM2.53 billion) cash and US$175 million relief on debt obligations.

The proposed divestment would result in a net gain on disposal of about RM793 million upon completion, Sapura Energy said then.

Sapura Energy bought SapuraOMV for US$898 million back in 2014 from Newfield Exploration Co, before selling half its stake to OMV AG in 2018 for up to US$975 million.

1 week ago

Mabel

Today is a big day for Sapnrg where we have to approve the sales of our National Asset which is worth RM 110 Billion..

6 days ago

TalkNumberOne

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

6 days ago

SinGor

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

6 days ago

TalkNumberOne

Singor, today egm done already?

6 days ago

Mabel

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!

5 days ago

TalkNumberOne

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

5 days ago

Mabel

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

5 days ago

TalkNumberOne

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

5 days ago

Mabel

Cheers T#1

Malaysia Bolih!!!

5 days ago

nisah395

Is that final dateline or extendable?

5 days ago

Mabel

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.

5 days ago

DickyMe

Madey and his cronies' legacy entities are licking the ground.

4 days ago

TalkNumberOne

Just about to conclude the week with nice no emotional damage people around. There comes the champion hahaha 😝

4 days ago

TalkNumberOne

Emotional damage means go eat some uncle Roger fried rice la. Don’t go around forum dropping all your emotional damage message 🤣🤣🤣🤣🤣🤣

4 days ago

DickyMe

Mentally challenged spastic people are unable to decipher their own investment situation, yet trying to make fun of others. Their behaviour is like "EMPEROR WITHOUT CLOTHES". 🤣🤣😂😂😅😅

4 days ago

TalkNumberOne

There goes my fun. Thank you emotional damage uncle. I know it’s hard refraining your self from coming haha. But you failed miserably and come entertain me anyway. lol with your emotions, you can’t achieve anything in life la except forum where you can hide all your miserable life pretending to be someone.

4 days ago

TalkNumberOne

That I give you. Haha see you next week, letting your ego eat into you for whole weekend.

4 days ago

DickyMe

If I am your uncle then your sister is my wife! 🤣
Keyboard warrior thinks he is great at one up game.
Keep entertaining us with your Talk-Cock-Num-One.

4 days ago

Nikmon

Barakah also submitted exit 17 plan recently, price went up one fold while pending approval, if Sapura do the same by end of the month?

2 days ago

TalkNumberOne

Good de morning, beginning of another new week. All the best to everyone and hope uncle emotional damage get to recover. Start making the world a better place

2 days ago

SinGor

Barakah submission to exit pn17 is similar to what can be done by SAP....Barakah said they received 78.8 mil from
some contract dispute and revising "Old" Contracts to get a Better Deal----Sounds very familiar

1 day ago

TalkNumberOne

2 more weeks until 30th November. Either we throw rubbish on emotional damage uncle or emotional damage uncle spit on us. Let’s see

1 day ago

TalkNumberOne

Mabel, another extension hahahaha.

1 day ago

Mabel

Sigh...

Mabel was having the impression that they were on Target to submit at the end of this month...

1 day ago

Mabel

From the EGM it looks to be on target to submit at the end of this month and suddenly this just came out after the market closed today. Sapura Energy Bhd has applied for its fourth extension of time, another six months until May 31, 2025, to submit its plan to regularise its financial condition.

The oil and gas group was to have submitted its plan to exit its Practice Note 17 status by Nov 30, 2024.

In a filing with Bursa Malaysia Securities, the group said the application for time extension was made on Nov 18, 2024 after the market closed.

https://www.nst.com.my/business/corporate/2024/11/1136239/sapura-energy-applies-fourth-extension-time-submit-pn17-exit-plan

1 day ago

Mabel

You can really see how big differences between these two PN 17 Companies. While Capital is already moving, Sapnrg is still struggling...

With the potential privatization of airports, the only other main local aviation stocks left in Bursa are CapA and AAX. This presents a unique opportunity for investors to focus on these key players in the aviation sector.

Capital A is back to the sky, emerging as the biggest mover in the Prince of Malaysia and Mabel Airlines. Just Do it, Capital A, and nobody can stop you—not even PN17, not even the lousy syndicates, nor the short traders in Bursa Malaysia. Winners win, and you fly like an eagle. In fact, AirAsia is the main choice with the most connected flights. MAS is a second choice, serving only certain privileged areas. Most destinations fly AA, and they have dominated the market for a long time already.

One Investor said, "Just took a return flight from KUL-BRUNEI. OMG, the flight was full. Brunei is just full of wealthy kampong people. Some passengers came from Miri, of course. But the point is even Royal Brunei Airlines cannot compete. Twice daily, all dominated by AirAsia. Already profited by AAX share appreciation."

This positive sentiment reflects the strong market position and growth potential of Capital A and AAX. With their extensive network and market dominance, they are well-positioned to capitalize on the evolving aviation landscape. The future looks bright for these aviation giants as they continue to soar to new heights.

1 day ago

Mabel

The contrasting performance of Capital A and Sapura Energy (Sapnrg) shares, despite both being PN17 companies, can be attributed to several factors:

Capital A's Positive Momentum (AA has the eyes of a Tiger)
Optimistic Outlook: Capital A has shown a clear path to exiting its PN17 status by the end of December 2024. This positive outlook has boosted investor confidence.

Strategic Moves: The company is restructuring by selling its aviation business to AirAsia X (AAX), which is expected to improve its financial position significantly. This strategic move is seen as a step towards stabilizing and growing the business.

Market Dominance: AirAsia, under Capital A, remains a dominant player in the low-cost carrier market, with extensive flight connections and a strong brand presence.

Investor Sentiment: Positive sentiment and market reactions to Capital A's announcements and strategic plans have driven the share price up.

Sapura Energy's Challenges (Our Lady is so lemah lembut)

Debt Restructuring: Sapura Energy is still grappling with a complex debt restructuring process. Although there have been positive developments, such as receiving approval-in-principle for its proposed debt restructuring scheme, the process is ongoing and uncertain.

Financial Struggles: The company has faced significant financial challenges, including high levels of debt and negative shareholder equity. These issues have weighed heavily on investor confidence.

Market Conditions: The energy sector, particularly oil and gas, has been volatile, affecting Sapura Energy's performance and outlook.

Investor Sentiment: The prolonged financial difficulties and uncertainty surrounding the company's future have kept investor sentiment low, resulting in depressed share prices.

In summary, while Capital A has a clear and optimistic path to recovery, Sapura Energy is still navigating through significant financial and operational challenges, leading to the differing performances of their shares.

To Our Success !

Meow

1 day ago

intansri

Very positive views on the long term outlook. For anyone who wants a short term gain is better for other counters

1 day ago

Mabel

Mabel has have invested in Blue Chip, Defensive, Income, Growth, Cynical and Turnaround Fighters to scale up into 2025. Two of her fighters are potential turnaround Fighters. A turnaround stock is one that experiences a positive reversal in its performance after a period of poor performance or financial difficulty. Turnaround stocks are often undervalued and can offer significant returns if the company's recovery is successful.

Characteristics of Turnaround Stocks
Management Changes: New leadership can bring fresh strategies and perspectives.
Cost-Cutting Measures: Reducing expenses to improve profitability.
Strategic Changes: Shifting business focus or launching new products and benefiting from favourable changes in the market or industry.

Capital A and Sapura Energy as Potential Turnaround Stocks

As highlighted, while Capital A appears to be on a clearer path to recovery, Lady Sapura is still navigating through significant financial and operational challenges. Both companies have the potential to be turnaround stocks, however their success will depend on their ability to implement effective strategies and adapt to market conditions.

May these two National Assets succeed!

1 day ago

Mabel

Base on Rafizi formula all Mabel can say is One is made in Malaysia while another one is made by Malaysia..hihi

https://www.freemalaysiatoday.com/category/nation/2024/11/18/we-want-to-move-from-made-in-malaysia-to-made-by-malaysia-says-rafizi/

1 day ago

thetruthstory

now that the news is out, you can go back dog fight and being nasty to each other

1 day ago

TalkNumberOne

Well with or without news, emotional damage uncle remains emotional damage. Haha 😂😂😂

1 day ago

21spade

cant wait for some upward movement to clear what I am holding. Collecting cobwebs already

1 day ago

gamble

looks like sapura will be delisted. gg

18 hours ago

Mabel

It's looking good. There are no Trojan Horses in Capital A and Lady Sapura's 3rd Generation Leadership. They both are True Patriot to Make Malaysia Great Again. Today both PN Capital A and Lady Sapura climbs...

To Our Success !

Meow Meow Meow

17 hours ago

HaiLiDeYu

Mabel, can conclude that you still optimistic about Sapura turnaround, and will look forward to laughing to the bank next year. Correct?

58 minutes ago

xiaoeh

Mabel a very optimistic meow meow
from Serbak time we known...

56 minutes ago