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2019-08-06 00:07 | Report Abuse
If you have not invested in currencies like USD, Euro or Yen before the US-China trade war, then buy some Homeriz or Liihen for hedging. The trade war has move beyond soya bean to Huawei and now to currencies war.... Be Aware
2019-07-31 10:13 | Report Abuse
97 peratus revenue dalam USD (exports sahaja),
Pakai buruh pendatang yang murah (Vietnam pakai buruh negara),
Pakai kayu negeri sendiri yang bagu dan murah (Vietnam pakai kayu import),
Kulit harga lagi turun rendah,
USDringgit lagi naik hari hari (4.1285)
Rumah rumah Malaysia suka pakai perabot IKEA
IKEA selalu pakai kayu kertas - kena air sahaja sudah burok....
2019-07-30 19:32 | Report Abuse
USDMYR at 4.125 is good for exporters.
2019-07-30 12:44 | Report Abuse
US-China trade war has benefited Vietnam & Malaysia furniture exports in 2019.
Prices of leather hides have decreased 13% over the past 3mths.
PH Govt has cut red tape & agencies to allow more foreign labour to the furniture manufacturers.
Dividends to shareholders are increasing in FY19 for furniture exporters.
Why run when punters are jumping jack flash in & out everyday?
2019-05-22 02:55 | Report Abuse
Historically, the Jan-Mar quarter is the weakest qtr because of monsoon season on the South China Sea. If Dayang can earn eps 4 sen/shr will be an outstanding qtr to start FY2019
2019-05-18 00:39 | Report Abuse
Dayang prefers to reward its long-term shareholders in different ways ... instead of dividend in specie like in FY2017, this time you get to own more Dayang shares at a 30% discount from this right issue in Jan2020. In FY2019, profits are estimated to be higher, so EPS will be the same or more.
2019-05-16 09:17 | Report Abuse
Dayang's contract with SEA Hibiscus for 5 yrs (Nov2018 to Jul2023) was announced on 30/4/2019.
Ask why the delay in announcement after contract signed?
Maybe, too many contracts already announced in Q4, 2018.
So why worry about the results for the next few qtrs ?
Unless the Brent oil price collapse.
2019-05-15 00:06 | Report Abuse
O&G Services sector doing well is Petronas and Malaysia's best hope for industrialisation rather than the Auto sector. Better not to keep bashing this industry that is slowly turning around.
There is now a heightened risk of supply disruptions from the critical Persian Gulf region. Raising tensions even higher, news flows of drone attacks on Saudi pipelines suggest the latest incident might be related to the conflict between Iran, US and Saudi Arabia. When crude oil prices are up, there will be more revenue for Malaysia Govt coffers to multiply to all...
https://oilprice.com/Energy/Oil-Prices/Oil-Rises-After-Drone-Attacks-On-Saudi-Infrastructure.html
2019-05-08 12:36 | Report Abuse
Petra loss is Dayang's gain. Dayang's Chairman report in AR2018 " ...This is in sharp contrast to our competitors in the oil and gas industry, of which a number of established players continued to be mired in financial difficulties."
2019-05-03 17:48 | Report Abuse
Kenanga's calls are sometimes unreliable... see Kenanga's call on OCK on 30Aug2017 for Market Perform of TP of RM1.05... over 14mths the shr price kept declining to its lowest 41 sen on 19Nov2018.... https://klse0.i3investor.com/blogs/kenangaresearch/131233.jsp
Again on 29Nov2018, Kenanga persisted to make same call of Market Outperform of TP or RM0.75. Now OCK's shr price languishing at RM0.50... https://klse0.i3investor.com/blogs/kenangaresearch/184289.jsp
2019-04-12 10:23 | Report Abuse
Explosion today at Pengerang RAPID project will delay commissioning of refinery .... more contract workers from Carimin, Petra & Dayang needed to fix the damage
2019-03-29 00:48 | Report Abuse
SUMMARY OF KEY MATTERS DISCUSSED AT THE 6th ANNUAL GENERAL MEETING (“AGM”) OF CARIMIN in Nov 2018.
Is the Board confident on the Company future prospects in the financial year ending 30 June 2019 (“FYE 2019”)?
The Company is optimistic on the prospects for FYE 2019 as oil majors are starting their Opex spending with the current oil price level. Correspondingly, work orders have been issued under the Company’s MCM contract which involves maintenance activities, marine and services. All the Company’s business segment would be contributing towards the Company’s return to profitability for the FYE 2019.
Just wait til Sept whether to crucify or praise the Board in their prediction of profitability.
2019-03-21 14:57 | Report Abuse
The RAPID Pengerang project that had employed some 70,000 workers is not yet completed and likely to be commissioned in the 3rd qtr of this gear. Revenue from Hookup n Commissioning will continue to grow. This USD 27 B. project is the only megaproject left to generate economic activity for Malaysia (thanks to the deep pockets of Saudi Arabia and Petronas). All other megaprojects like MRT, LRT, ECRL, HSR, etc by Malaysia Inc are all cold turkey. Today, Borneo Highway project has just joined them in the freezer.
WTI Crude oil prices has broke USD 60/bbl and Brent oil is trending towards USD 70/bbl and you are wondering whether to buy an Airline, a property or a bank?
Stick to O n G as it is the only good business left n Malaysia.
2018-11-30 11:54 | Report Abuse
share buyback is not going to help, growing the size of your estate (to lower your O/Heads) will be much better...
2018-11-29 12:41 | Report Abuse
Instead of buying 55% of Kretam (19,600 hectares) for RM 1.2B.(aborted in Feb2018), it's a much better deal to acquire 56% of IJMP (61,000 hectares) for RM 1.8B....
For an extra RM 600M, HSPlant can get 3X the size... plus more satisfactory and more acceptable plantations.... that is, if HSPlant plans to grow
2018-06-29 18:08 | Report Abuse
PNB Chairman Wahid has quit and likely the PNB CEO will have to go too.
Velesto will probably have a new Chairman by next month.
It will be good for the market as we can expect new Chairman to look after Investors' interest.
Last AGM, old Chairman gave RM307K to 6 directors but gave me a shareholder a RM30 Petronas and a RM20 Kenny Rogers cards. Both cards are defective n not usable.
i will vote to replace Chairman ASAP.
2018-05-25 12:02 | Report Abuse
VELESTO ENERGY - Key Takeaways from AGM
1. Depreciation is less going forward,
Lower Interest rate paymts from less LTerm loan (1.8X to 0.5X)
2. Velesto expects Profitability from 2018.
Total Contract RM 1.26B (RM 834M + RM424 as options)
Petronas requirements 7 rigs (Velesto has 7 rigs, Perisai 1 rig)
Utilisation of rigs less of a challenge compared to 2016-2017
Impairments not expected in 2018
3. Valesto is a good proxy to oil price increase
Oil price expected to remain strong for a few years
Chartered rates for oil rigs to improve when Brent oil >$85bbl
4. Velesto is a medium to long term investment
2018-05-23 12:41 | Report Abuse
Velesto Chairman naikkan gaji RM307,000 kepada enam(6) independent directors.....
PM Tun Mahathir turunkan 10% gaji Menteri2...
Both execute their decisions because business is not going on so well...
Which one has got it right, you wonder.... ?
2018-05-10 18:48 | Report Abuse
Stanley need to apologise for apologising.... if he wants Supermax to stay in bizness
2018-04-12 09:28 | Report Abuse
Malaysia Oil Rig Count :
March 31, 2018 8.00
Feb. 28, 2018 7.00
Jan. 31, 2018 9.00
Dec. 31, 2017 7.00
Nov. 30, 2017 6.00
Oct. 31, 2017 4.00
If got work, future is brighter...
2018-03-22 02:38 | Report Abuse
I am betting that the Rick horse can run faster than the ARA horse.
The ARA horse's track record not good when he was CEO of Media Prima and in EQUINAS..
2018-03-22 00:45 | Report Abuse
Rick Ramli, ex-MD, Boston Consulting Group & MBA from NorthWestern University joins UMWOG as non-Independent & non-Executive director to represent PNB.... a welcome change. He's an expert to effect change... likely next CEO or Chairman.
A very good move by PNB....
2018-03-02 21:43 | Report Abuse
Malaysia's Oil Rig Count (Report by Baker Hughes International)
Jan. 31, 2018 9.00
Dec. 31, 2017 7.00
Nov. 30, 2017 6.00
Oct. 31, 2017 4.00
Sept. 30, 2017 5.00
Aug. 31, 2017 4.00
July 31, 2017 6.00
2018-02-27 23:23 | Report Abuse
This impairment is a paper loss only in the books but has no actual impact on the Company's cash balance or cash flow. Cash balance in UMWOG has in fact improves. Cash flow balance is very important as an on-going concern.
2018-02-27 23:21 | Report Abuse
On the balance sheet, long-term assets are reduced by the impairments. A deferred-tax asset is created. Stockholders' equity is reduced as a result of the impairment loss included in the income statement.
Future net income will be higher as there will be lower asset value, and thus a smaller depreciation expense.
Future ROA and ROE will increase.
2018-02-27 23:06 | Report Abuse
on UMWOG, the impairment loss on the balance sheet will create a 'deferred tax-asset'...
When a company incurs a tax loss, it can then carry forward the tax loss to reduce taxable income in future ?
2018-02-22 11:33 | Report Abuse
Looking forward to :
(1)the reversal of impairment chrgs,
(2)the tax rebates from 2017 Q1-Q2 losses,
(3) the improving profits each qtr as oil price firms up !
I hope TF will add more Airbuses for AirAsia & AAX as each can burn 4000 tonnes of fuel a year.
22/02/2018 11:26
2018-02-22 11:24 | Report Abuse
In Feb17, before 4Q16 results release, impairments were made in case of need to sell more rigs.
In Apr17, Naga1 was sold at scrap value of RM 1M.
Naga1 is a 40 yr old subsea rig acquired in 2005 on a 50% JV with Japanese firm.
Question is whether it has been fully depreciated and, if not, the 2016 Impairments could cover it.
If no rigs were sold in 2H2017 or going to be sold in 2018, why impair?
Where is the loss when there are no rentals of rigs... only financial costs ?
2018-02-21 21:40 | Report Abuse
AAX results... need to read with some salt !
If you look at their 'Maint & Overhaul costs' for the past qtrs, the 4Q17 qtr showed only RM75M , whereas in Q1, Q2, Q3 it was RM 174M, 169M and 234M and the average Maint & Overhaul cost for each qtr in 2016 was RM 156M.
So, if the average Maint &Overhaul cost in 2017 is about RM 170M, then 3Q2017 was overprovided by RM 64M in advance for 4Q2017 costs. The Maint & Overhaul cost for 4Q2017 ar RM 75M plus the RM64N from Q3 is still RM30M short.
In summary, with Forex gain of RM30M and 'under-provision' of RM30M, AAX net profit is actually RM 20M....
If they say they can maintain & overhaul in 4Q17 at half the cost they had in 2016 of ave RM156M, then I would think twice about flying AAX...
2018-02-20 11:50 | Report Abuse
Impairment provisions made in 2015-17 by oil companies can be fwd looking to expect some write-backs (or reversal of impairments) in 2018-19 if the oil biz improves...
It's all depends on the OIL PRICE...
2018-02-20 11:45 | Report Abuse
...the same reasons that oil price felled in 2014 would likely be the reversed reasons for oil price to firm in the coming months of 2018...
Impairments are likely done or will be done by Q4, 2017... if they continue to impair when oil prices are above costs, then those are the 'failed' companies to avoid.
2018-02-20 11:42 | Report Abuse
For some 60% of shareholders (like PNB, etc) who had the IPO shrs @RM2.80, their TP is 95 sen (after Rights issue).... those who bot at 90 sen when it's cheap, their TP is 46sen.... those who bot at 70 sen, their TP is 40 sen...and so on...
2018-02-17 23:30 | Report Abuse
Floating storage in Asia declining. Reuters reports that there are about 15 supertankers of oil floating off the coast of Singapore and Malaysia, which is down a bit from November but down by about half from mid-2017. The data is a sign that the oil market is tightening...
2018-02-08 17:24 | Report Abuse
Oil price was at its lowest in Jan 2016, so generally all oil companies like Sapnrg, MHB, UMWOG, etc rightly so provided for Impairments at end 2015 and end 2016.
Oil price has appreciated some 40% since Jun17 to Feb18 and if any oil company still make more impairments in 4Q17 when oil biz is getting better, the CEO should be removed.
MHB (Malaysia Marine&HE) has done with impairments, has tax credit in 4Q17 for previous losses and has started giving dividend.... so no need to whine about oil share price daily as the oil biz is already recovering... relax and enjoy the volatility...
2018-02-04 19:48 | Report Abuse
Daim Zainuddin did mentioned that he only dabbled in stock market for golfing money...
2018-02-02 07:30 | Report Abuse
Brent Oil has finished its correction and is heading to the upside of the channel.
Could hit into 73-74 area....
2018-01-28 15:47 | Report Abuse
PNB now holds 4.4 B shrs or 53% of total 8.32 B shrs...
If the oil price hits $75/bbl, it may be good for Gov't to take UMWOG private and park it is an integral biz of Petronas ... all these oil services companies are just stressing up our banks....
2018-01-28 15:27 | Report Abuse
Do not to be concerned whether PNB convert 1.2 B shrs of i-RPS to Ordinary Shares to sell down or not... as if they want to sell, PNB could sell from the 3 B shrs that they hold.
In Oct 2017, the additional Rights Issue of 1.2B shrs were beyond the 65% of PNB-ASB can hold as not to trigger a MGO (mandatory general offer) that were converted to I-RPS (non-voting shrs) (as PNB agreed to subcribed to all excess Rights shrs not taken up).
What's important here is UMWOG has achieved its cash call of RM 1.8B to reduce its gearing. UMWOG is now out of ICU & HDU (high dependency unit) like in a hospital and recuperating with all 7 rigs utilised and with the oil price firming to support hire rates, it can recover very fast.....
2018-01-25 08:05 | Report Abuse
...Judging from the upbeat outlooks from Halliburton and Schlumberger, this year could finally mark the end of the downturn for the oilfield services business.
Oilprice.com
2018-01-23 10:30 | Report Abuse
Blackrock started buy in 4Jan 2018...
BlackRock Fund Advisors
AS OF 04 JAN 2018
6.57m 0.09%
BlackRock Advisors (UK) Ltd.
AS OF 04 JAN 2018
5.59m 0.08%
2018-01-19 17:35 | Report Abuse
Sometimes, I wonder whether the PNB Fund Mgrs have it all figured out?....
from Jan 8-11 they sold off 180M shrs at 46 sen to gain some 10 sen (46-36 sen) or RM 20M from the sale...from this they trigger a big sell-off to 36 sen and if they are holding 3.19B shrs, PNB would have reduced their capitalisation in UMWOG by RM 319M (3.19B shr x 10sen)....
... it's just like the slow cat biting its tail...
2018-01-06 20:12 | Report Abuse
Hammer or no hammer, Fajar has already gain RM 8M from its PA investment...
Fajar Directors should sell all PA-W shrs next week to give out another 1.5 sen dividend to shareholders for Chinese NY...besides helping old friends, maybe time to give to shareholders
2018-01-04 09:30 | Report Abuse
Every 1 sen increase in PA Resources, Fajar's profits increase by 1.5M (152.5M shr x 1sen).
Add the free PA-W of 78.3M shrs, already got free RM 3.5M, so new investment in PA is astounding for just 2 weeks work, much better than rail or paragon projects .... suggest share investment as another core business if got so much funds, else give dividends every qtr to shareholders...
2018-01-03 16:37 | Report Abuse
no need for so many subcontractors for rail works, maybe CCCC just take a 20% stake in Fajar... to get the job done.... Everyone happy... BN got Chinese votes, CCCC got local partner that you can trust (overseas Chinese)...Jib got Pahang developed... China gets goods faster via Kuantan-Klang rail link to Europe. All other ports can close... just keep Klang and Kuantan ports.
2018-01-03 11:03 | Report Abuse
@Ming, maybe Fajar got good inside info on PA biz, afterall both got same director Wong. Fajar main shareholder and PA main shareholder were both main shareholders of Hirotako before. You know, old boys club. I've got old boys club too but we only do coffee.
Fajar invest in RIghts issue in PA in 2012 not wise as solar biz in PA eventually folds... Fajar invest in Rights in Dec 2017 is much better... as PA is now back to basic core biz... aluminium smelting
Stock: [HOMERIZ]: HOMERITZ CORPORATION BERHAD
2019-08-08 08:45 | Report Abuse
US imposed tariffs on China's furniture exports.... Vietnam is now under US's radar on transhipments...
https://www.youtube.com/watch?time_continue=49&v=fCAut_Gr-3E