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0.915   0.00 (0.00%)  0.91 - 0.93  5,626,600
53,091 comment(s). Last comment by JayC at Jul 21, 2018 12:34 PM
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CITADEL
102 posts

Posted by CITADEL > Jul 19, 2018 05:18 PM | Report Abuse

all counters fly and yet hibiscus still tidur


CITADEL
102 posts

Posted by CITADEL > Jul 19, 2018 05:18 PM | Report Abuse

paralyzed


OrlandoOIL
1197 posts

Posted by OrlandoOIL > Jul 19, 2018 07:20 PM | Report Abuse

North Sabah PSC cost has to b halved else cancelled??


newbie8080
563 posts

Posted by newbie8080 > Jul 19, 2018 07:24 PM | Report Abuse

Once next QR is out only will know the additional impact on earnings.
It supposed to be factored into the stock price but it seems muted at this moment.


JayC
953 posts

Posted by JayC > Jul 19, 2018 07:33 PM | Report Abuse

i do not think this royalty will effect Profit sharing contractor.

Long term contract already signed base on royalty of 10% (5 state, 5 federal). Government cannot go back and renegade on contracts signed


Moneymore
21 posts

Posted by Moneymore > Jul 19, 2018 11:01 PM | Report Abuse

Run for life...


m_aloha
170 posts

Posted by m_aloha > Jul 20, 2018 12:35 AM | Report Abuse

Pls run & throw our..someone want to grab


OrlandoOIL
1197 posts

Posted by OrlandoOIL > Jul 20, 2018 07:24 AM | Report Abuse

Yes it is a chg in federal dealing wit state policy nothing to do wit existing individual PSC contract


Chik Chik
24 posts

Posted by Chik Chik > Jul 20, 2018 08:40 AM | Report Abuse

Dont wait..run..
Look another countr..more energy and power..
Hibi..tidur..tak mau bangun...sohaii counter maa


Dericlock
944 posts

Posted by Dericlock > Jul 20, 2018 08:45 AM | Report Abuse

Agree with JayC and OrlandoOil, it wont affect the individual PSC contract.
If it affects their contract, then all PSC will have to reconsider it is a good busines anymore. Imagine a big retreat of PSC will do what kind of damages to entire O&G industry.
By the way, PSC in malaysia actually not just hibiscus. They are a bunch more, it is just that hibiscus is the only listed company in malaysia.


Kymkym
10 posts

Posted by Kymkym > Jul 20, 2018 09:50 AM | Report Abuse

Good price.... Buy more 0.91


Dericlock
944 posts

Posted by Dericlock > Jul 20, 2018 10:07 AM | Report Abuse

lol, everyday having the same show. Early morning gap up, then quickly dragged down to red. By the way, volume is really low. Guess everybody just focus on KLCI stocks and ex-gov linked stocks recently.


Dericlock
944 posts

Posted by Dericlock > Jul 20, 2018 10:09 AM | Report Abuse

By the way, @JayC thanks a lot for the tax explanation.
will need to look in and understand further once i got some time.


JayC
953 posts

Posted by JayC > Jul 20, 2018 10:35 AM | Report Abuse

today I heard from news the 20% royalty is base on profit from petronas, not from revenue


teoct
87 posts

Posted by teoct > Jul 20, 2018 10:54 AM | Report Abuse

Yes that what I heard too. If so, a 5% royalty is better.


teoct
87 posts

Posted by teoct > Jul 20, 2018 10:54 AM | Report Abuse

For the States I meant.


JayC
953 posts

Posted by JayC > Jul 20, 2018 11:13 AM | Report Abuse

I believe it's 5% royalty + additional 20% from profit


Dericlock
944 posts

Posted by Dericlock > Jul 20, 2018 11:32 AM | Report Abuse

means petronas have to pay extra 20% of tax to each states?
Or the tax that pay to gov, 20% of it will goes into the state?


afifi
1771 posts

Posted by afifi > Jul 20, 2018 11:55 AM | Report Abuse

jln la bro...
no issue nii..
myeg ,,, sayur2 aje potong


amusementworld
2 posts

Posted by amusementworld > Jul 20, 2018 12:23 PM | Report Abuse

This counter is not moving as expected. Sold @ .92 and moved to uems yesterday. Good luck everyone.


CITADEL
102 posts

Posted by CITADEL > Jul 20, 2018 12:25 PM | Report Abuse

really fed up on this counter, try to hold until the construction theme is over


newbie8080
563 posts

Posted by newbie8080 > Jul 20, 2018 12:29 PM | Report Abuse

@ amusementworld

Actually after looking at the Sabah PSC acquisition, assuming it contributes to hibiscus total net profit , the current price is more or less reflected it.

Safe assumption that 4Q profit=RM100 mil, excludes goodwill & extraordinary gains, at price of RM1 is already PE 15.


Happy Trader
1924 posts

Posted by Happy Trader > Jul 20, 2018 12:45 PM | Report Abuse

Ong counter no hope. Cut lose and join m3tech
Potential return more than 50


amusementworld
2 posts

Posted by amusementworld > Jul 20, 2018 01:56 PM | Report Abuse

@newbie8080, thanks for the info. I came in in may got small profit. But its disappointing lately so decided to quit. Anyway i might be back shortly.


afifi
1771 posts

Posted by afifi > Jul 20, 2018 03:18 PM | Report Abuse

oil up


RockyFox
632 posts

Posted by RockyFox > Jul 20, 2018 03:22 PM | Report Abuse

Expecting Full Year PAT = 200Mil, or RM50Mil/Quarter, If PE15, share price should be RM2.00.


Dericlock
944 posts

Posted by Dericlock > Jul 20, 2018 04:13 PM | Report Abuse

Newbie, dont really agree with your calculation.

Calculation for revenue as below: 
1. Anasuria : 271047 bbl x 75 Usd/bbl x 4 USD/MYR = 81 million 
(Assuming oil tanker offload volume same as Q1, Brent price can maintained as it is now , and roughly 4 USD/MYR as approximate current rate now, and excluding gas sales revenue as too small) 

2. North Sabah : 586,658 bbl x 80 usd/bbl x 4 Usd/Myr = 188 million 
(North sabah been producing at really good uptime, hence this quarter should will unload twice as like in Q4 2017, Assuming labuan crude trading at premium price of 5 dollar) 

https://www.reuters.com/article/malaysia-oil-prices/malaysian-jan-crud... 

So total revenue are around 269 million Myr.


Dericlock
944 posts

Posted by Dericlock > Jul 20, 2018 04:15 PM | Report Abuse

For cost and expenditure as below: 

1. Cost of sales for North Sabah = 12.47USD/bbl x 5674bbl/day x 92 day x 4 USD/MYR = 26 million 
(Assuming same opex like Q1, same production uptime) 

2. Assuming worst case where all the cost and expenditure are same like Q1 = 109 million 
(Where it should not be the case as we see a lot of one of expenses like acquisition admin fees 22.8 mil, rig impairment written down of 6.7mil, amortisation of equipment of 11.5 mil, and all other stuff of unwinding discount etc of around 6.7 mil, but we are assuming the worst case to be on safe side) 

So with PBT summarize as below: 

Profit before tax = 269 million - 26 million - 109 million = 134 million 
(excluding -ve write off and other operating income)


Dericlock
944 posts

Posted by Dericlock > Jul 20, 2018 04:16 PM | Report Abuse

Tax, is the one that i not particularly familiar with. So, i just stop at PBT. Anyway, if disagree please point out as well.


jasonchong113
3 posts

Posted by jasonchong113 > Jul 20, 2018 04:36 PM | Report Abuse

price movement getting narrow and narrow, but still dont wan move...side way still....


JayC
953 posts

Posted by JayC > Jul 20, 2018 04:40 PM | Report Abuse

Derilock,

269m , if take 28% profit margin base on Alliance and Pbbank = RM75m


profitgrow
263 posts

Posted by profitgrow > Jul 20, 2018 05:03 PM | Report Abuse

many buyer already exit.. or took profit... or give up waiting... some even cut loss... price still 0.9 where is the promised RM1.40 TP ? ? ? ? ? ? ? ?


JayC
953 posts

Posted by JayC > Jul 20, 2018 05:09 PM | Report Abuse

oil and gas sector will move in tandem with each other. so far, this sector Is muted. look at sapnrg , below 0.60


profitgrow
263 posts

Posted by profitgrow > Jul 20, 2018 05:10 PM | Report Abuse

i'm still holding some


m_aloha
170 posts

Posted by m_aloha > Jul 20, 2018 05:48 PM | Report Abuse

I'm holding some as well..next QR is expecting to be excellent with math do no get wrong unless major issue pop up leading to bad sentiment. I think no reason to sell all now and just ride on side-way for another month and remember patience is key to success. collect more if < 90c..


newbie8080
563 posts

Posted by newbie8080 > Jul 20, 2018 06:12 PM | Report Abuse

@ Dericlock

My estimation is for total 4 quarters PROFIT AFTER TAX.

Quite close to your PBT if include tax.


Sarara
45 posts

Posted by Sarara > Jul 20, 2018 08:12 PM | Report Abuse

When hibiscus QR will be out??


CITADEL
102 posts

Posted by CITADEL > Jul 20, 2018 10:08 PM | Report Abuse

next month around 28th


OrlandoOIL
1197 posts

Posted by OrlandoOIL > Jul 21, 2018 07:53 AM | Report Abuse

2. North Sabah : 586,658 bbl x 80 usd/bbl x 4 Usd/Myr = 188 million
(North sabah been producing at really good uptime, hence this quarter should will unload twice as like in Q4 2017, Assuming labuan crude trading at premium price of 5 dollar)


1. Cost of sales for North Sabah = 12.47USD/bbl x 5674bbl/day x 92 day x 4 USD/MYR = 26 million
(Assuming same opex like Q1, same production uptime)


188 - 26 is 162 Huat!!

Bt think not right too good


JayC
953 posts

Posted by JayC > Jul 21, 2018 12:34 PM | Report Abuse

Orlando, your calculation is not correct
no PITA (38%)
no export tax (10%)
no supplementary payment (unknown)
no admin cost ( can see from previous QR report)


JayC
953 posts

Posted by JayC > Jul 21, 2018 12:34 PM | Report Abuse

add these cost need to be minused out from PBT

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