Highlights
KLSE: UMWOG (5243)       UMW OIL & GAS CORPORATION BHD MAIN : Trading&Services
Last Price Today's Change   Day's Range   Trading Volume
0.295   -0.005 (1.67%)  0.29 - 0.30  9,874,400
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General Meeting

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Ann. Date Date Time Type Venue View
03-Aug-2017 25-Aug-2017 15:00 EGM DEWAN TUN ABDUL RAZAK, MENARA KEMBAR BANK RAKYAT, NO. 33, JALAN RAKYAT, 50470 KUALA LUMPUR, MALAYSIA Meeting Detail
20-Apr-2017 15-May-2017 10:00 AGM DEWAN TUN ABDUL RAZAK, MENARA KEMBAR BANK RAKYAT, NO. 33, JALAN RAKYAT, 50470 KUALA LUMPUR, MALAYSIA Meeting Detail
22-Apr-2016 17-May-2016 10:00 AGM DEWAN TUN ABDUL RAZAK, MENARA KEMBAR BANK RAKYAT, NO. 33, JALAN RAKYAT, 50470 KUALA LUMPUR, MALAYSIA Meeting Detail
24-Apr-2015 19-May-2015 10:00 AGM NEXUS 1 & 2, LEVEL 3A, CONNEXION@NEXUS, BANGSAR SOUTH CITY, 59200 KUALA LUMPUR Meeting Detail
26-May-2014 16-Jun-2014 11:00 AGM UMW Auditorium, No. 3 Jalan Utas (15/7), Batu Tiga Industrial Estate 40200 Shah Alam, Selangor Darul Ehsan Meeting Detail
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  11 people like this.
 
leek ASB got 10b extra funds to release to the market investment...
11/10/2017 07:28
eazye92 crude oil wti has risen up to 3% since yesterday, hopefully it will have profound impact on today oil counter..
11/10/2017 08:09
leek =D
11/10/2017 09:48
hng33 sold back all UMWOG at 30.5sen, locked all profit first, free up all capital
11/10/2017 10:03
leek Share price will be pushed to 0.33 to 0.36 before the listing of rights shares to absorb any selling pressure...
11/10/2017 10:17
araj87 correction: naga 6 may finish contract this year end.
11/10/2017 11:17
st999fc This stock is so cheap.. really hope can go sky rocket..
11/10/2017 11:30
sniperstock Rohaizad said UMW-OG would be in a positive cash-flow position upon the completion of the company’s RM1.8bil rights issue by the middle of October 2017.
Read more at http://www.thestar.com.my/business/business-news/2017/05/16/umwog-rigs-to-be-fully-utilised-by-july/#Gz4qp8uZT400MIMp.99
11/10/2017 11:44
sniperstock UMW-OG’s earnings are expected to improve this year, compared with its performance last year, supported by the two new contracts from Petronas Carigali.
Read more at http://www.thestar.com.my/business/business-news/2017/05/16/umwog-rigs-to-be-fully-utilised-by-july/#Gz4qp8uZT400MIMp.99
11/10/2017 11:45
cutie oil price now above 51...hold on...rally expected to come anytime soon
11/10/2017 12:05
cutie oil counters coming back now..
11/10/2017 12:07
sniperstock Despite these sombre assessments of the company, main shareholders remained committed to the company more so after its major and biggest shareholder Permodalan Nasional Bhd’s (PNB) says it will absorb their portion and the excess rights issuance that the other shareholders did not want to subscribe to.

Since then the Employees Provident Fund (EPF) had increased their stakes in the company even post the capital distribution.

The EPF had increased their stakes to 9.545% from 9.167% after the capital distribution was effected.

While the Retirement Fund Inc (KWAP) had also seen their stakes increased to 6.698% after the capital distribution was taken into account.

Given these circumstances and after the reiteration of PNB’s commitment to the company, it is quite likely that the worst is over for UMWOG. After all, a strong shareholder is what is most important to a company during volatile times such as this


Read more at http://www.thestar.com.my/business/business-news/2017/08/26/is-the-worst-really-over-for-umw-oil-gas/#gsGMO6tG3AGXFBtG.99
11/10/2017 12:43
emzekwhy when is the listing date for the new shares arising from the rights issue??
11/10/2017 14:13
leek =D
11/10/2017 14:47
tradminator when is the listing date for the new shares arising from the rights issue?? +1
11/10/2017 15:27
offshore Cash flow positive doesn't mean profitable. Petronas will give priority to locals but price must still match to market. And Petronas will not pay you if you screw up even if you are GLC. Someone also pointed out N4 is due for 5 yearly dry dock. This rig will earn no income for a few months and few millions of USD will be spent for this.
12/10/2017 08:20
offshore That is an average of USD144m per rig, and they are brand new rigs. I wonder how the UMWOG management will argue their way out with the auditors on asset impairment.
12/10/2017 14:44
toriamos Hopeless counter. Someone keep pressing the price ......
12/10/2017 16:55
687423 Intended to frustrate you all? Wait Liao.....
12/10/2017 21:32
sniperstock so, shall out from this stock & pump to hibiscus?
12/10/2017 23:59
hng33 bought back all UMWOG at 30sen
13/10/2017 16:57
sg999 but umwog no action. next perisai!
13/10/2017 18:00
hng33 Before right share
- Gearing is high > 1.5x
- rig utilization rate <40%, incur impairment on oil asset
- crude oil price < USD50
- PNB stake 45%
- share price 80sen-RM 1.00


After right share
- Gearing is manageable < 0.5x
- rig utilization rate 100%, likely to reverse back earlier impairment on oil asset
- crude oil price > USD55
- PNB stake 65% + unlisted RCPS-I (to absorb all minority right share, RCPS is convertible within 5 year but carry at zeros cuopon rate, ease off UMWOG interest and reduce share overhang due to right issue)
- current share price 30sen
13/10/2017 18:04
hng33 Brent crude oil up strongly by 2% now
13/10/2017 18:04
emzekwhy next week .33...
13/10/2017 18:19
hng33 Next week, UMWOG will announce the acceptance rate for its right issue. I think it will be severely undersubscribed. These is BEST scenario for exiting shareholder. These is because, PNB already undertaking all its entitlement and it will fully absord and subscribe all retail portion in the form of RCPS-I which is unlisted in order to fully meet require fund raising RM 1.8 billion for UMWOG. These will eliminate market share overhang due to new share issuance from right issue.
13/10/2017 18:31
leek Oil up due to US plan to war Iran.... bad for Iran... good for Oil!!!
14/10/2017 04:06
sniperstock - crude oil price > USD55
- PNB stake 65%

===so, why price still at the very bottom.
14/10/2017 19:10
687423 PNB has no intention to mess around aimlessly in UMWOG. Why should they? A new beginning?
15/10/2017 14:20
snwong13 .
http://www.marketwatch.com/story/oil-prices-surge-on-strong-chinese-crude-imports-and-iran-uncertainty-2017-10-13
15/10/2017 19:05
araj87 sniperstock UMW-OG’s earnings are expected to improve this year, compared with its performance last year, supported by the two new contracts from Petronas Carigali.
Read more at http://www.thestar.com.my/business/business-news/2017/05/16/umwog-rigs...
11/10/2017 11:45

sniperstock, this is old news. naga 4 is finishing contract next month, then due for 5 yearly. naga 3 will finish next year march or maybe earlier.
16/10/2017 10:43
Andrew62 Finishing contract is good news.Revise rates again.
16/10/2017 11:07
investor12345 Currently, anything below 27 sen can raise emerging value
16/10/2017 14:59
hng33 Currently, 29-30sen already is very rock bottom for UMWOG share price, bashed down mainly due to right fund raising.

Once these fund raising is over which is very near completion, share price should rebound back to reflect current getting bullish in upstream oil industry with rising brent crude oil
16/10/2017 15:31
hng33 “In the worst-case scenario – if nobody takes up the shares – parent company Permodalan Nasional Bhd (PNB) has committed to subscribe to the entire rights issue.
These is done through PNB to subscribe for all of its entitlement first give rise to its stake in UMW-OG exceeding 65% upon completion of the exercise, PNB will additionally subscribe for up to 4.85 billion new Islamic redeemable convertible preference shares (RCPS-i) together with up to 1.21 billion free warrants at the subscription price. The warrants will be issued on the basis of one warrant for every four RCPS-i subscribed.

So, UMWOG will still get the intended RM 1.8 billion fund raising that it need.

These is the BEST case scenario for exiting shareholder as most of the right share will be subscribe and absorb by PNB, there will be nil or minimum new share insurance to cause share overhang in open market.
16/10/2017 15:35
hng33 Use margin capital, all in UMWOG at 29.5sen
16/10/2017 16:29
rijack88 top up some at 29.5 ! GL all
16/10/2017 16:30
apolloang bro hng33 ur jaks coming why buy umwog pula?
16/10/2017 16:34
emzekwhy already top up today... waiting for surge
16/10/2017 18:37
hng33 Brent crude oil surge another 2%, above USD 58

Expect UMWOG to gradually recover back as share already very much hit rock bottom.
Once these fund raising culprit is over, which is tomorrow to announce the acceptance rate and amount of unlisted RCSP to replace retail unsubscribe right, and to reduce amount of new share issue to open market.
16/10/2017 20:48
snwong13 .
https://www.cnbc.com/2017/10/16/oil-rises-toward-six-month-high-as-iraq-conflict-threatens-output.html
17/10/2017 06:21
hng33 Result will be announce today, expect acceptance rate for UMWOG right are PNB 45% + EPF 9.74% + KWP 6.7% = 61.44% + small minority stake.

PNB will undertaking all unsubscribe right share from minority stake in the form of unlisted RCPS
17/10/2017 11:50
hng33 Crude oil hold very steady with further upside potential
17/10/2017 15:48
sg999 No news???
17/10/2017 18:07
smartly Total valid acceptances

3,912,373,809

64.63

Total valid excess applications

3,411,940,748

56.36

Total valid acceptances and excess applications

7,324,314,557

120.99

Total Rights Shares with Warrants available for subscription

6,053,600,000

100.00

Over-subscription

1,270,714,557

20.99
17/10/2017 18:46
hng33 Result announce today, valid acceptance rate for UMWOG right are PNB 45% + EPF 9.74% + KWP 6.7% = 61.44% + small minority stake 3.19% = total valid acceptance based on right entitlement 64.63%
17/10/2017 18:52
hng33 PNB have extend to excess subscribe all undersubcribed retail portion give rise to over subscribe 20.99%.

Prospectus dated 25 September 2017, the allotment of Rights Shares and Excess Rights Shares with Warrants to PNB, ASB and the Funds shall be subject to the Collective Shareholding Threshold. Consequently, the actual total number of Rights Shares and Excess Rights Shares to be issued pursuant to the Rights Issue With Warrants may be less than the full 6,053,600,000 Rights Shares provisionally allotted to the Entitled Shareholders.

In view of the above, ASB and the Funds shall be offered such number of RCPS-i equivalent to the number of Rights Shares and Excess Rights Shares with Warrants not allotted to them pursuant to the Collective Shareholding Threshold (“Funds’ RCPS-i”). Following the subscription of the Funds’ RCPS-i, PNB shall subscribe for such number of RCPS-i as required in order to raise the Intended Gross Proceeds.
17/10/2017 18:55
toriamos So fly or no fly ?
17/10/2017 18:56
hng33 Therefore, PNB aside subscribe its entitle portion, it will allow to collective excess subscribe up to maximum threshold 75% of entire stake and the balance 25% will be in the form of unlisted RCPS-I
17/10/2017 18:59
hng33 These is the BEST case scenario for exiting shareholder as most of the right share will be subscribe and absorb by PNB, there is estimate only 3.19% retail investor opt to subscribe new share.

As much as 96.81% of the right share are subscribe by respective institutional fund, namely EPF 9.74%, KWP 6.7% and PNB 45%, with PNB apply all excess to entitle maximum to hit maximum threshold 75%, and balance will be in the form of unlisted RCPS -I
17/10/2017 19:07


 

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