KUALA LUMPUR, Jan 28 (Bernama) -- Bursa Malaysia snapped its five-day winning streak to close lower on Wednesday, as investors took profit following a cumulative gain of 4.25 per cent over the past five sessions, said an analyst. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 14.76 points or 0.83 per cent to 1,756.49 from Tuesday’s close of 1,771.25. The market bellwether opened 1.46 points lower at 1,769.79, marking the day’s high, and hit a low of 1,750.05 during the mid-afternoon session. Market breadth was negative with losers trouncing gainers 876 to 384, while 525 counters were unchanged, 964 untraded and 94 suspended. Turnover improved to 3.65 billion units worth RM4.41 billion from Tuesday's 3.58 billion units worth RM4.46 billion.
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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