To be noted is that Bumi Armada had undertaken a rights issue in August this year that has seen the dilution of Ananda’s shareholding in the company. Based on yesterday’s price, Ananda’s stake in Bumi Armada was valued at RM2.06bil. At its peak, SapuraKencana was trading at RM4.81, translating to a wealth of RM4.85bil for Tan Sri Shahril Shamsuddin’s 16.84% stake in the integrated O&G concern. Billionaire Robert Kuok, T Ananda Krishnan, Tan Sri Ngau Boon Keat and Tan Sri Quek Leng Chan are also part of the list of value losers in this O&G stock meltdown. Another major shareholder of SapuraKencana is Tan Sri Mokhzani Mahathir, whose 10.25% interest has also seen a decline by almost half its value. Another stock in which Mokhzani has an interest in, Yinson Holdings Bhd, was also not spared from the bearish sentiment surrounding O&G stocks. The largest of these companies, SapuraKencana Petroleum Bhd, has seen its share price dip by 48.78% year-to-date. Bumi Armada, Malaysia’s largest offshore support vessel firm, was relisted in 2011 at a price of RM3.03 per share. However, in 1992 Amoco was the lead player in Canada’s largest ever asset rationalization.

However, TW protected its corporate values in view of its role as the publisher of Time Magazine, a publication revered for its journalistic integrity. The data in the literature on SCC of modified 13%Cr steels indicate that increasing the temperature at pH values where pitting is the precursor to cracking decreases the susceptibility to sulphide stress cracking. The currency dropped to 3.4392 earlier, the lowest level since February 2010, when it last traded at 3.45 and went on to reach 3.4545 on the 5th of that month, data compiled by Bloomberg show. 1. Salaries of drilling engineers can vary depending on experience, higher level of responsibility, size of employer. At yesterday’s price, Mokhzani’s stake in SapuraKencana was valued at RM1.54bil compared to the RM2.95bil it was worth during its highest level. His stake was worth RM1.45bil based on yesterday’s closing price of RM1.26. Yinson’s share price has declined from its peak to close at RM2.45 on Dec 1. Based on yesterday’s price, Mokhzani’s stake in the company was worth RM235mil.

0.51, meaning that Kuok has lost more than half the value of his stake in that company. This is about a one-third decline from the RM2.25bil his 23.2% stake was valued at when the stock had hit a high of RM1.96. PETALING JAYA: With the oil and gas (O&G) sector being the hardest hit in the current market rout, tycoons who own significant stakes in these companies have seen a huge loss in their net worth. Brent slid to a five-year low after OPEC’s decision last week not to cut production to shore up prices, which have slumped 41 percent from a June high. If you don’t have a registered company, you may loose out from their deals. Out of SGD222.0M in cash as at end Sep 2017, SGD73.7M is restricted bank balances. “Malaysia is probably most affected by oil prices in the Asian space,” said Andy Ji, a Singapore-based strategist at Commonwealth Bank of Australia.

Accelerating the decline in share prices yesterday and the loss in their net worth was the decision by Petroliam Nasional Bhd (Petronas) to slash its capital expenditure (capex) by between 15% and 20% next year. Petronas’ capex cut has spooked investors in the local O&G sector as many companies rely on the national oil company for work. The fall in global crude oil prices and the plunge in the value of O&G stocks on Bursa Malaysia saw the value of their shareholding cut by almost half to some RM7.86bil yesterday. There are also two of these notorious blue water / drilling fluid containers that I saw at many drilling sites that are “fracking”. There are lots of trucks and temp drilling staff, and a large drilling rig. I’m assuming it’s a workover rig at Weyerhaeuser, drilling out the plugs and then, relative to the CMR timing, given that in the middle of its frac process.