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    SAPNRG   MYL5218OO002

SAPURA ENERGY

(SAPNRG)
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Malaysia's Sapura Energy to conclude refinancing exercise -group CEO

03/25/2021 | 04:31am EDT

KUALA LUMPUR (Reuters) - Malaysia's Sapura Energy is expected to conclude its refinancing exercise by next month at the latest, its new group chief executive said on Thursday, as it looks to boost recovery from a difficult past year.

The country's largest oil and gas services company launched an austerity drive in April after posting a loss from continuing operations of 4.23 billion ringgit ($1.02 billion), which included lowering operating costs besides salary and job cuts.

"Hopefully by the end of this month or next month, we should be closing that refinancing exercise," Sapura Energy's new Chief Executive Mohd Anuar Taib said during a virtual session at the International Petroleum Technology Conference.

Last month, Sapura Energy announced in a statement that it had raised about 1.2 billion ringgit in working capital facilities from Maybank Islamic and CIMB Bank, to finance existing projects and take up future contracts globally.

The company is seeking to refinance loans and revolving credit facilities worth over 10 billion ringgit, according to a Bloomberg report in January.

Mohd Anuar said the company will continue with its cost reduction exercise to deliver $250 million in value generation to shareholders this year, and institutionalise operational excellence to boost competitiveness.

The company will also focus more on exploration and production, especially in gas development and wind energy over the next few years, said Mohd Anuar, who on Monday officially took over as Sapura Energy's new chief executive.

($1 = 4.1430 ringgit)

(Reporting by Joseph Sipalan; editing by Emelia Sithole-Matarise)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
CIMB GROUP HOLDINGS 0.00% 4.63 End-of-day quote.7.67%
INTERNATIONAL PETROLEUM CORPORATION -2.48% 5.5 Delayed Quote.100.71%
LONDON BRENT OIL -1.08% 73.01 Delayed Quote.43.56%
SAPURA ENERGY 0.00% 0.135 End-of-day quote.8.00%
WTI -0.91% 70.881 Delayed Quote.50.22%
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Financials
Sales 2022 5 970 M 1 443 M 1 443 M
Net income 2022 -92,1 M -22,3 M -22,3 M
Net Debt 2022 9 901 M 2 393 M 2 393 M
P/E ratio 2022 -24,5x
Yield 2022 -
Capitalization 2 156 M 521 M 521 M
EV / Sales 2022 2,02x
EV / Sales 2023 1,87x
Nbr of Employees -
Free-Float 44,7%
Chart SAPURA ENERGY
Duration : Period :
Sapura Energy Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends SAPURA ENERGY
Short TermMid-TermLong Term
TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 13
Average target price 0,14 MYR
Last Close Price 0,14 MYR
Spread / Highest target 115%
Spread / Average Target 4,56%
Spread / Lowest Target -63,0%
EPS Revisions
Managers and Directors
NameTitle
Datuk Muhammad Anuar bin Taib Group CEO & Non-Independent Executive Director
Reza bin Abdul Rahim Group Chief Financial Officer
Shamsul Azhar bin Abbas Non-Executive Chairman
Nik Azli Abu Zahar Group Head-Legal, Compliance & General Counsel
Muhamad Noor bin Hamid Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
SAPURA ENERGY8.00%524
WORLEY LIMITED3.57%4 797
OFFSHORE OIL ENGINEERING CO., LTD.2.67%3 186
SUBSEA 7 S.A.0.07%3 127
LIBERTY OILFIELD SERVICES INC.48.11%2 805
TECHNIP ENERGIES N.V.0.00%2 668