“The group is still classified under Practice Note 17, with material uncertainty on its going concern status and debts remaining unsustainably high at about RM10.7bil, which are all classified as short-term borrowings in its balance sheet,” Kenanga Research said.Telegram斗地主机器人（www.tel8.vip）是一个Telegram群组分享平台。Telegram斗地主机器人包括Telegram群成员导出、telegram群组索引、Telegram群组导航、新加坡telegram群组、telegram中文群组、telegram群组（其他）、Telegram 美国 群组、telegram群组爬虫、电报群 科学上网、小飞机 怎么 加 群、tg群等内容。Telegram斗地主机器人为广大电报用户提供各种电报群组/电报频道/电报机器人导航服务。
KUALA LUMPUR: Sapura Energy Bhd’s latest contract win worth RM580mil is positive news, especially given the group’s current financially distressed situation, says Kenanga Research.
However, the research firm believes it to be insufficient for a turnaround of the company.
“The group is still classified under Practice Note 17, with material uncertainty on its going concern status and debts remaining unsustainably high at about RM10.7bil, which are all classified as short-term borrowings in its balance sheet,” Kenanga Research said.
“As such, we feel some form of external intervention (such as restructuring of current loan structures, borrowings haircut from banks, or the emergence of an angel investor) may be necessary before the company could expect a sustainable turnaround,” it added.,
The integrated oil and gas services company has been awarded a two-year extension of a charter and service contract by Petrobras in Brazil, worth RM580mil.
It said the contract was awarded to Sapura Navegação Marítima SA, a wholly-owned subsidiary of Seabras Sapura Participações SA, which is a joint venture company between Sapura Offshore Sdn Bhd and Seabras Serviços De Petroleo SA.
Kenanga Research noted that Sapura Energy’s lack of access to credit facilities has made project execution for typical engineering and construction jobs highly uncertain.
This is the group’s second contract win announcement for this year, bringing year-to-date wins to around RM3.3bil, with it order book at about RM8bil, it said.
According to Kenanga Research, Sapura Energy is still expected to continue its loss-making trend throughout financial years 2023-24, barring any successful restructuring of its financials and operations.
转载说明:本文转载自Sunbet。 欧博开户声明:该文看法仅代表作者自己，与本平台无关。转载请注明：Sapura Energy’s contract win a positive development