Market Overview - Malaysia's new vehicle market declined by over 19% to 52,414 units in February 2026 from 65,052 units in the same month last year, according to the Malaysian Automotive Association (MAA) [1] - The decline in February followed a 27% surge in January, attributed to fewer working days due to the timing of the Lunar New Year holidays [2] - In the first two months of 2026, the vehicle market increased slightly to 116,712 units, up from 115,501 units in the same period last year [2] Economic Context - Consumer sentiment has strengthened, reflected in a pickup in economic growth to 6.3% year-on-year in Q4 2025, up from 5.4% in Q3 2025, driven by stronger domestic consumption, investment, and exports [3] - The economy expanded by 5.2% in 2025, slightly up from 5.1% in 2024 [3] Vehicle Sales Performance - Light passenger vehicle sales rose by 1% to 109,117 units in the first two months of 2026 from 108,339 units a year earlier, while commercial vehicle sales increased by 6% to 7,595 units from 7,162 units [4] - Battery electric vehicle (BEV) sales surged by 154% to 9,870 units in this period from 3,850 units a year earlier, led by the Proton eMas 5 with 4,630 units [4] Production and Forecast - Vehicle production in Malaysia fell by 7% to 110,607 units in the first two months of the year, down from 119,540 units a year earlier [5] - The vehicle market is expected to rebound in March, but full-year sales are projected to weaken, with GlobalData forecasting a nearly 6% drop in light vehicle sales to 779,000 units in 2026 [5] Company-Specific Performance - Market leader Perodua's sales fell by 9% to 49,703 units in the first two months of 2026, despite launching the new Traz compact SUV and its first BEV model [6] - Proton reported a 58% increase in global vehicle sales to 33,399 units year-to-date, with the Saga being its best-selling model [6] - Toyota registrations rose by 13% to 13,591 units in the two-month period, aided by the introduction of new models [7]

Core Viewpoint - The Southeast Asian automotive market is experiencing significant growth, with local brands making a comeback and Chinese brands gaining market share, while Japanese manufacturers are feeling competitive pressure for the first time [4][5]. Group 1: Vietnam - In January 2026, Vietnam's new car sales reached 29,774 units, a staggering increase of 90% year-on-year, despite a 30% month-on-month decline due to year-end sales effects [7][8]. - The sales of light passenger vehicles surged by 103% to 22,440 units, while commercial vehicle sales rose by 59% to 7,334 units, indicating broad market growth [8]. - Local brand VinFast sold 16,172 units, capturing a market share of 27.4%, while Thaco and Hyundai also saw significant increases in sales [8][9]. - The Vietnamese government's extension of the tax exemption policy for electric vehicles (BEVs) until February 2027 has amplified the cost-effectiveness of EVs, driving consumer demand [9][11]. - The import of complete vehicles surged by 110% year-on-year, with Chinese brands accounting for 44.3% of the market share, filling gaps in local production capacity [11][12]. Group 2: Malaysia - In January 2026, Malaysia's total vehicle sales reached 64,298 units, a 29% increase compared to the same month last year, despite a 29% month-on-month decline [14][15]. - Proton's sales surged by 46% to 19,750 units, achieving a market share of 30.7%, the highest since 2012, driven by the success of its Saga model and the new S70 MC1 [15][16]. - The penetration rate of electric vehicles in Malaysia has doubled to 9.2%, significantly exceeding the 2025 target of 5.1%, indicating rapid adoption of EVs [18]. - Proton's e.MAS 5, a model based on a Chinese design, led the electric vehicle sales with 3,276 units, surpassing BYD [17][18]. Group 3: Indonesia - In January 2026, Indonesia's new car wholesale sales reached 66,447 units, a 7% year-on-year increase, with a target of 850,000 units for the year [22][23]. - Japanese brands continue to dominate, with Toyota leading at 20,078 units, but BYD has entered the market strongly with 4,879 units, capturing a 7.3% market share [25][26]. - Chinese brands are not just selling cars but also establishing local production, with BYD's factory set to produce 150,000 units annually, supported by favorable government policies [26][27]. Group 4: Thailand - Thailand's new car sales in January 2026 reached 73,936 units, a 53.8% increase year-on-year, with electric vehicle sales skyrocketing by 354% [29][30]. - The market for electric vehicles is expanding rapidly, with a total of over 44,000 electric vehicles sold in January, surpassing the entire new car market in Vietnam [31]. - The JAECOO 5 emerged as the top-selling model with 6,806 units, while Chinese brands dominated the top five positions in the market [31][32]. - The Thai automotive market is expected to grow further, with a target of 1.5 million vehicles for 2026, driven by increasing demand for electric vehicles [32][33].

Financial Data and Key Metrics Changes - Total operating revenues for Q4 2025 were $259.4 million, a decrease of $17.7 million or 6.4% from Q3 2025, primarily due to a $16 million decrease in day rate revenue [8][9] - Adjusted EBITDA for Q4 2025 was $105.4 million, bringing full-year adjusted EBITDA to $470.1 million, which was at the top end of the guidance range [4][9] - The company recorded a net loss of $1 million for Q4 2025, while full-year net income was $45 million, with adjusted EBITDA decreasing by 7% compared to 2024 [9][10] Business Line Data and Key Metrics Changes - Technical utilization for the fleet was 98.8% and economic utilization was 97.8% in Q4 2025 [3] - The company secured new commitments for 7 rigs since the last quarterly report, with expectations for further coverage gains in the coming months [4][13] Market Data and Key Metrics Changes - In the Middle East, multi-year tenders are in progress for an estimated 13 rigs, and Pemex announced a 34% year-on-year increase in upstream CapEx [5] - Overall jackup market utilization remains steady at approximately 90%, with expectations for market conditions to firm as tenders are awarded [5] Company Strategy and Development Direction - The company believes the jackup market has bottomed out and sees gradual recovery in fundamentals as demand increases [4] - The company plans to return to the Oslo Stock Exchange through a listing on Euronext Growth, with a full uplisting to the main list expected in the first half of 2026 [12][20] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the tendering pipeline, indicating that significant awards are expected by mid-2026, which could lead to improved market conditions [18][34] - The company anticipates that market conditions will continue to improve through the second half of 2026, with a clear recovery in day rates expected in 2027 and beyond [20] Other Important Information - Cash and cash equivalents as of December 31, 2025, were $379.7 million, with total liquidity of $613.7 million [11] - The company completed an equity offering raising gross proceeds of $84 million and an additional bond offering of $165 million [11][12] Q&A Session Summary Question: Outlook for idle rigs Sif and Freya - Management is confident that Sif will secure a contract in the coming months, while Freya may take longer, potentially going to work in late 2026 or early 2027 [22][24] Question: Thoughts on EBITDA for 2026 - Management indicated that while it is early for formal guidance, the outlook for 2026 suggests a modest increase in contracting days compared to 2025 [25][27] Question: Status of tenders in the Middle East - Management confirmed that major tenders from Aramco and KOC are in progress, with awards expected around mid-year [32][34] Question: Potential for further rig acquisitions - Management stated that while they are open to M&A opportunities, they are focused on complementary acquisitions rather than growth for its own sake [39][40] Question: Rate development trajectory - Management expects that higher activity levels will start impacting bidding levels in Q3 2026, following the awarding of tenders [46][47] Question: Contracting strategy for the fleet - Management emphasized the importance of a mix of short and long-term contracts, with flexibility based on market conditions [50][51] Question: Current status of rigs without contracts - Management indicated that rigs like Var and Freya may take longer to secure contracts, with a focus on developments in the Middle East as a potential catalyst [66]

Clayno’s forever home is on @WalrusProtocol and Sui.Claynosaurz (@Claynosaurz):Claynosaurz OG, Saga & Claymaker Collections are now on @WalrusProtocol!To ensure long-term reliability, we’ve migrated the off-chain data (images and metadata) to Walrus, a decentralized storage solution built on @SuiNetwork.• Why: Some assets uploaded off-chain in early ...

Product Updates - Solana Mobile will discontinue software updates and security patches for its first-generation Android phone, the Saga [1]

Funding and Growth - Einride raised approximately $100 million in funding to enhance the development and deployment of its road freight technology solutions [1] - The company reported that it more than doubled its net sales over the past year and expanded its operations into Austria and the United Arab Emirates, while also growing its presence in Europe and North America [2] Technology and Offerings - Einride offers a platform that includes connected electric and autonomous heavy-duty trucks, charging infrastructure, and an intelligent freight operating system named Saga [2] - The CEO of Einride emphasized that the funding will enable the company to grow with its customer base and accelerate the deployment of its autonomous freight technology, indicating a strong market position [2][3] Investor Confidence - EQT Ventures, one of Einride's largest shareholders, expressed confidence in the company's vision, stating that Einride is building a comprehensive and forward-looking freight ecosystem [3] - The investor highlighted the tendency of Nordic tech to be underestimated while it quietly transforms entire industries, which aligns with Einride's mission in the freight sector [3] Industry Developments - In a related development, Kodiak AI announced its plans to go public through a business combination with Ares Acquisition Corporation II, indicating ongoing interest and investment in autonomous vehicle technology [4] - Kodiak AI's autonomous driving system, Kodiak Driver, is designed for the trucking industry and incorporates real-world experience [4] - Another startup, Applied Intuition, raised $600 million to advance its technology across various moving machines, including vehicles and drones, with an initial public offering being a short-term goal [5]

Vehicle Market Overview - The Malaysian vehicle market saw a slight increase in August 2025, reaching 73,041 units compared to 72,580 units in August 2024, supported by improved inventories, new model launches, and aggressive dealer promotions [1] - In the first eight months of 2025, the vehicle market declined by 4% to 516,862 units from a record high of 537,532 units in the same period last year, with light passenger vehicle sales down by 3% and commercial vehicle sales down by 16% [3] Economic Context - The Malaysian economy expanded by 4.4% year-on-year in Q2 2025, maintaining similar growth from Q1, driven by strong domestic consumption [2] - The central bank cut its benchmark interest rate by 25 basis points to 2.75% in July 2025, marking its first rate cut since April 2023 [2] Electric Vehicle Segment - Battery electric vehicle (BEV) sales increased by 63% year-to-date to 23,396 units, primarily driven by BYD and its Denza brand, Proton's e.MAS7, and Tesla [4] - Total vehicle production in Malaysia fell by 9% to 493,176 units in the first eight months of 2025 [4] Company Performance - Perodua, the market leader, experienced a 2% decline in sales to 231,700 units year-to-date, slightly outperforming the overall passenger vehicle market [5] - Proton's global sales fell slightly to 100,902 units in the first eight months of 2025, with the Saga being its best-selling model [5] - UMW Toyota reported a 4% decline in sales to 62,246 units, with the Vios as its best-selling model [6]

RT bangerz (@bangerzNFT)Unboxing my new @solanamobile Seeker phone and WOW:0:08 - Unboxing experience1:28 - Solana Mobile Lore1:53 - Seeker vs Saga comparison2:11 - Camera quality test2:35 - dApp Store walkthrough3:04 - Seeker ID Wallet demo3:16 - Claiming my Genesis NFT3:27 - Video & audio performance3:41 - Final verdict ...