KUALA LUMPUR, May 11 (Bernama) -- Late selling pressure dragged Bursa Malaysia into negative territory at the close, reversing earlier gains as profit-taking in heavyweight banking and transportation counters dampen overall market sentiment. At 5 pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) eased 2.75 points to 1,745.31 from Friday’s close of 1,748.06. The benchmark index, which opened 5.94 points firmer at 1,754.0, moved between 1,744.99 and 1,754.0 during the trading session. Market breadth was positive with gainers leading losers 562 to 558. A total of 636 counters were unchanged, 897 untraded, and 12 suspended. Turnover increased to 4.20 billion units worth RM3.17 billion compared with 3.31 billion units worth RM3.00 billion on Friday.
Major Contract Wins Across Regions
- Sapura Energy (SAPNRG) secured multiple contracts worth RM3.2 billion, boosting its group order book to RM8.7 billion, with joint ventures holding an additional RM5.7 billion.
- Contracts were awarded to its drilling arm, Sapura Drilling, from key clients across various regions.
Key Contracts & Project Details
- PTTEP Energy Development Ltd awarded contracts for Sapura T-17 and Sapura T-18 drilling rigs, set to commence Q2 FY2026 with a 5-year firm period + 3-year extension option.
- Cabinda Gulf Oil Company (Chevron’s subsidiary) extended the Sapura Jaya rig contract in Angola until November 2025.
- ExxonMobil Malaysia awarded a 30-month drilling contract for the Sapura Berani rig, starting Q1 FY2026.
- EnQuest Malaysia awarded a contract for Sapura Esperanza rig to drill four offshore wells.
Expanding Engineering & Construction (E&C) Division
- The E&C segment secured projects in Brazil and Australia for pipeline installation and asset removal.
Financial & Market Position
- Sapura Energy remains in PN17 status since May 2022, working towards financial recovery.
- Stock closed unchanged at 3 sen, with a market capitalization of RM551.3 million.
Summary:
- Sapura Energy secured RM3.2B in new contracts, expanding its order book to RM8.7B.
- New projects span Malaysia, Angola, Brazil, and Australia.
- Contracts include drilling and engineering & construction works.
- Company remains in PN17 status, focusing on operational excellence & financial recovery.
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