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The auditor noted that Sapura Energy faces severe liquidity constraints, and together with its 22 units have obtained restraining orders under Section 368 of the Companies Act 2016, as well as separate contractual standstill arrangements with lenders — which will expire on June 10 and June 6 respectively.
l wanna collect more below 4c...my position now around 0.05 just 30% of my holding position b4..loose nothing even delisting coz all position just free ticket...don't chase on rally.
If really the management gave up and the company is going to go bankrup soon, we should see a lot of their asset being put on sell.. So far only their pipe lay barge has been sold, u dont really lay new pipes or make a new platform/rig to catch the good oil price now.. It is whether u have production facility to pump out more oil or not.. If u dont have, then it is just too bad..
10 June restraining order is like our moratorium that time. After 10 June, the company need to pay their loan. Now already PN17 starting 31 May. So now we just need to see if they can come up with a regularisation plan within 12 months. Usually in other PN17 or GN3 companies, there will be a white knight saving these company. Can check KTB they got new owner, Idmension got new owner etc.
Recovery post covid still ongoing..there are slowest jobs during covid and uncertainty condition at south china sea. Sapura most project on hardware facilities..petronas still holding expenses on new well as it reverse from Mexico gulf n Myanmar..as far as l know..if wrong pls advice
Actually your is still in the company..you may get it back but not in open market..you have to deal with them n it cost you on time n money to go to them..otherwise they had been declared bankrupt you will loose your money
