KUALA LUMPUR, April 1 (Bernama) -- Bursa Malaysia closed higher on Wednesday, with the key index rising 1.10 per cent, in line with firm gains across regional markets following a strong rally on Wall Street overnight, said an analyst. IPPFA Sdn Bhd director of investment strategy and country economist Mohd Sedek Jantan said the improvement in sentiment was underpinned by easing geopolitical concerns and a decline in oil prices. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) increase 18.54 points or 1.10 per cent to 1,708.90 from Tuesday’s close of 1,690.36. The benchmark index opened 25.58 points higher at 1,715.94, marking its intraday high, and hit a low of 1,700.20 during the mid-morning session. The broader market was positive, with gainers leading decliners 780 to 444. A total of 475 counters were unchanged, 926 untraded and 11 suspended.
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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