Categories for Uncategorized

Sapura Energy won APAC company of the year award for energy services, offshore and marine

February 1, 2019 12:33 am Published by

Oil and gas (O&G) services provider Sapura Energy Bhd bagged home the Asia Pacific Company of the Year Award under Energy Services, Offshore and Marine category at the Asia Pacific Energy Award Dinner held here by Energy Council, Wednesday. Sapura Energy “toppled” Houston-headquartered Schlumberger and Singapore-based Sembcorp Marine which were the other two contenders for the award.

Sapura expects more jobs on top of US$14.3b already in prospects

February 1, 2019 12:32 am Published by

Sapura Energy Bhd is seeing more jobs in the horizon in addition to the US$14.3 billion already in prospects this year despite a sharp decline in oil price to below US$60 a barrel. The integrated oil and gas services company, which has presence in over 20 countries, believes the current oil price level will not put a brake on contract flows in the years to come.

Sapura Energy deems RM4b cash call a ‘success’

January 23, 2019 6:24 am Published by

Sapura Energy Bhd has “successfully” raised about RM4 billion from its rights issue that closed on Jan 16, though the rights issue of new ordinary shares sweetened by free warrants under the exercise was undersubscribed. The cash call also involved a rights issue of Islamic redeemable convertible preference shares (RCPS-i).

Sapura Energy raises RM4bil via rights issue

January 23, 2019 1:52 am Published by

Sapura Energy Bhd has achieved its target to raise at least RM4bil from its rights issue exercise, even as some shareholders chose not to subscribe their portion of the shares. The rights share offerings that came with free detachable warrants were 81.5% subscribed. For its Islamic redeemable convertible preference shares, the group saw 100% valid acceptances.


January 18, 2019 1:38 am Published by

As part of the cover story – Fixing the Economy – for its year-end edition, The Edge asked a select group - a minister, a former minister, a banker, economists and business leaders - for their views on the outlook for 2019. Our President and Group CEO, Tan Sri Shahril Shamsuddin, shared his thoughts on the challenges and policy expectations. Below is his opinion piece in full.

Sapura Energy-OMV JV seeks up to RM2.3b loans

January 18, 2019 1:22 am Published by

SEB Upstream Sdn Bhd (SUP), a joint venture between Sapura Energy Bhd and OMV Aktiengesellschaft (OMV AG), plans to obtain financing facilities from local and foreign financial institutions and/or its Austrian partner for between US$350 million (RM1.46 billion) and US$550 million (RM2.29 billion) to repay part of its debt and for working capital.

Sapura Energy bags RM760 mil worth of contracts

January 11, 2019 12:47 am Published by

Integrated oil and gas group Sapura Energy Bhd has been awarded four new contracts and one extension with a combined value of RM760 million. The jobs involve three drilling contracts and two contracts for the engineering and construction (E&C) segment, the group said today.

Tender book expansion, prospective bids seen for Sapura Energy

December 10, 2018 7:19 am Published by

Maintain buy with an unchanged fair value (FV) of 55 sen: We have maintained our “buy” call on Sapura Energy Bhd, with an unchanged FV of 55 sen a share, based on a 25% discount to our estimated diluted book value of 73 sen a share, assuming an ex-proposed rights issue of up to RM4 billion. This implies a 24% discount to our ex-sum-of-parts valuation.