Sapura Energy Berhad

KUALA LUMPUR: Public Investment Bank Research (PublicInvest) is ceasing coverage on Sapura Energy Bhd despite an improved first half of financial year 2025, citing a deteriorating financial position and its unresolved Practice Note 17 status.

© New Straits Times Press (M) Bhd

Sapura Energy Bhd, which slipped into losses in its latest quarter due to the stronger ringgit, cautioned shareholders that “foreign-exchange (forex) volatility” may continue in upcoming quarters.

PETALING JAYA: Sapura Energy Bhd, which slipped into losses in its latest second quarter due to the stronger ringgit, cautioned shareholders that “foreign exchange volatility” may continue in upcoming quarters.

KUALA LUMPUR: Sapura Energy Bhd says it  continues to show resilience in its second quarter of financial year 2025 (Q2FY2025) despite challenging external factors.

© New Straits Times Press (M) Bhd

$SAPNRG / 5218 (SAPURA ENERGY BERHAD): The Fall of Malaysia's Largest Company

This video offers insight into the rise and fall of Sapura, highlighting several key reasons behind its collapse:

- Oil prices crashed.
- Kencana's management, including Mokhzani Mahathir, left.
- Poor acquisitions.
- Debt continued to surge after major acquisitions.
- High CEO salaries.

These points provide valuable lessons for conducting research before investing.

*Fun Fact: Sapura was originally a telecommunications company before transitioning to the oil and gas industry.

https://cutt.ly/Aed3aHMW

KUALA LUMPUR: Sapura Energy Bhd said it has been "advancing its plan” to regularise its financial position since being classified as a Practice Note 17 (PN17) company and given time extension to come up with the plan.

PRACTICE NOTE 17 / GUIDANCE NOTE 3 : MONTHLY ANNOUNCEMENT

PRACTICE NOTE 17 / GUIDANCE NOTE 3 : OTHERS

$SAPNRG / 5218 (SAPURA ENERGY BERHAD)

KUALA LUMPUR: Sapura Energy Bhd’s net profit fell 43.8% to RM82.1mil in the first quarter ended April 30 (1Q25), compared with RM146.1mil in the same quarter a year ago.

Quarterly rpt on consolidated results for the financial period ended 30/04/2024

OTHERSSAPURA ENERGY BERHAD
MEDIA RELEASE - SAPURA ENERGY DELIVERS POSITIVE RESULTS IN Q1 FY2025

$SAPNRG / 5218 (SAPURA ENERGY BERHAD)

KUALA LUMPUR: Energy services and solution provider Sapura Energy Bhd has appointed non-independent non-executive director Shahin Faroque Jammal Ahmad as its interim chairman.

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KUALA LUMPUR: Sapura Energy Bhd has appointed Shahin Farouque Jammal Ahmad, a non-independent non-executive director in the company, as its interim chairman.

OTHERSSAPURA ENERGY BERHAD
Appointment of an Interim Chairman following Leave of Absence of the Chairman of the Board of Directors

$SAPNRG / 5218 (SAPURA ENERGY BERHAD)
Research by RHB
Not Rated

“Ceasing Coverage”

We are ceasing coverage on Sapura Energy due to a reallocation of internal resources. The group continue to be loss making and we expect it to remain in the red in the next three years. We remain cautious on its engineering & construction (E&C) segment’s profitability. SAPE’s holistic debt and equity restructuring – highly dilutive, in our view – is inevitable for it to get out of the woods.

Analyst(s):
Sean Lim, CFA
sean.lim@rhbgroup.com

$SAPNRG / 5218 (SAPURA ENERGY BERHAD)

KUALA LUMPUR: Sunview Group Bhd, Solarvest Holdings Bhd, TH Plantations Bhd, Tex Cycle Technology (M) Bhd, Careplus Group Bhd, Taliworks Corp Bhd, Apollo Food Holdings Bhd and Sapura Energy Bhd are among the stocks to watch on Friday.

KUALA LUMPUR: Sapura Energy Bhd said "no adjustments are needed for the recoverability and classification of assets or liabilities” after its external auditor raises the issue of it continuing as a going concern in an unqualified opinion on the state of the oil company’s finances for financial year 2024.

KUALA LUMPUR: Sapura Energy Bhd’s external auditor has issued an unqualified opinion with material uncertainty on its ability to continue as a going concern for its audited financial statements for the financial year ended Jan 31, 2024.

© New Straits Times Press (M) Bhd

KUALA LUMPUR: Sapura Energy Bhd’s external auditor has issued an unqualified opinion with material uncertainty on its ability to continue as a going concern for its audited financial statements for the financial year ended Jan 31, 2024.

© New Straits Times Press (M) Bhd

OTHERSSAPURA ENERGY BERHAD

UNQUALIFIED OPINION WITH MATERIAL UNCERTAINTY RELATED TO GOING CONCERN IN RESPECT OF THE AUDITED FINANCIAL STATEMENTS OF SAPURA ENERGY BERHAD FOR THE FINANCIAL YEAR ENDED 31 JANUARY 2024

KUALA LUMPUR: Sapura Energy Bhd was the most actively traded stock on the market today after it said it secured Petroliam Nasional Bhd’s approval to sell its 50 per cent stake in SapuraOMV Upstream Sdn Bhd to TotalEnergies Holdings SAS for US$530.3 million.

© New Straits Times Press (M) Bhd

TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONSSAPURA ENERGY BERHAD ("COMPANY")

PROPOSED DISPOSAL BY SAPURA UPSTREAM ASSETS SDN BHD, A WHOLLY-OWNED SUBSIDIARY OF THE COMPANY, OF ITS ENTIRE 50% EQUITY INTEREST IN SAPURAOMV UPSTREAM SDN BHD TO TOTALENERGIES HOLDINGS SAS ("PROPOSED DISPOSAL")

Change in Boardroom - MADAM LEE CHUI SUM

Change in Risk Committee - MR LIM FU YEN

KUALA LUMPUR: Sapura Energy Bhd has received an extension on the standstill period from the Corporate Debt Restructuring Committee (CDRC), which shields it from actions from its multi-currency financing (MCF) creditors.

© New Straits Times Press (M) Bhd

OTHERSSAPURA ENERGY BERHAD ("SEB" OR "THE COMPANY")

MEDIATION OF DEBT RESTRUCTURING OF SEB AND ITS ADMITTED GROUP COMPANIES UNDER CORPORATE DEBT RESTRUCTURING COMMITTEE - EXTENSION OF THE STANDSTILL PERIOD

WINDING UP / RECEIVER & MANAGER / RESTRAINING ORDER / SPECIAL ADMINISTRATORSAPURA ENERGY BERHAD

- PROPOSED SCHEMES OF ARRANGEMENT AND CONVENING AND RESTRAINING ORDERS UNDER SECTIONS 366 AND 368 OF THE COMPANIES ACT 2016 FOR SAPURA ENERGY BERHAD (THE COMPANY AND COLLECTIVELY WITH ITS SUBSIDIARIES, THE "GROUP") AND CERTAIN OF ITS WHOLLY-OWNED SUBSIDIARIES