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0.475   -0.005 (1.04%)  0.47 - 0.485  3,946,800
90,647 comment(s). Last comment by emil at Oct 29, 2020 10:27 PM
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linheng
429 posts

Posted by linheng > Oct 21, 2020 5:46 AM | Report Abuse

Will continuing toping up. Will sell my remaining glove stock (Comfort) and put into this counter. Sinovac vaccine already being sold to the public in China at USD60 for 2 dose. People flew in from other places to have the vaccine. Already got long Q.


Newbn00b
208 posts

Posted by Newbn00b > Oct 21, 2020 7:09 AM | Report Abuse

I really hope those big sharks go ahead finish off first trench else thing will get ugly.


micsoh
853 posts

Posted by micsoh > Oct 21, 2020 9:19 AM | Report Abuse

Six time the size now, now one day around 9000 bpd, let assume 4times it can achieve, like this at least 30000 per day, wow.


Miz Raya Bloom
5442 posts

Posted by Miz Raya Bloom > Oct 21, 2020 9:36 AM |

Post removed. Why?


micsoh
853 posts

Posted by micsoh > Oct 21, 2020 10:24 AM | Report Abuse

**The current conversion price of RM0.66 for the first tranche of CRPS is c.32% higher than the yesterday’s closing price. Hence, this may serve as a near term benchmark pricing and if the assets were to perform, the upside for common shareholders could be higher.

Means at least worth 66sen in near term.


Dericlock
1526 posts

Posted by Dericlock > Oct 21, 2020 10:28 AM | Report Abuse

thanks @twynstar for sharing.
But the questions from HLIB, most of them are really a pointless or i would say without doing any homework beforehand. Most answers can be obtained from their circular.

For item 6, fully subscribed, hmm, i am skeptical on it. 2 billion is not that easy to be swallowed especially oil price is uncertain now.
Well, will see how it goes. Hibiscus price is getting lower everyday, the lower it goes the less attractive the tranche 1 become, and less subscriber for it.
Now is a tug war between hibiscus and the shark behind that wanna more discount on tranche 2.
I have to admit. i am not so positive so far


micsoh
853 posts

Posted by micsoh > Oct 21, 2020 10:37 AM | Report Abuse

Daily share price is not the issue, if it want to push, they can push to 66sen easily in one day, the important is the asset it acquired. If u see price every day, it sometime will give u downward impression, when it up, u will see many people jump out and tell u " see, I tell u before" kind of hindsight.


Dericlock
1526 posts

Posted by Dericlock > Oct 21, 2020 10:57 AM | Report Abuse

The asset the acquired, i will leave it to the expert in hibsicus.
As we are not expert in valuing the potential and value of the asset remaining life and value.

But there sure is many potential asset in malaysia alone, Exxon, repsol, petrofac etc.
And hibiscus have a dedicated criteria on purchasing suitable asset, so they know what to choose with it.

But choosing right asset and CRPS conversion price is a loosely related thing. so even hibiscus doing a great job in choosing a good asset, yet if the CRPS conversion price is extremely low then means big boy able to buy in deep discount (let say Rm1 asset in 40c price) which will deeply dilute the current shareholder's stake and destroy the current value

So at the end, even hibiscus become highly lucrative betshareholders getting nothing in return as the stakes in hibiscus is getting smaller and smaller and also accompanying it up and down for many years


micsoh
853 posts

Posted by micsoh > Oct 21, 2020 11:20 AM | Report Abuse

This crps price is base on its asset acquired value, if not they cannot simply said I want to issue crps without any propose or expansion, u need to do presentation to interested investor, can u just tell your investor u don't have any idea is this crps worth to subscribe or not? Or tell them it all decided by share market price? If market on Nov 11 is 40sen, then it worth 40sen only?, I think u have misunderstood compare it with current market


micsoh
853 posts

Posted by micsoh > Oct 21, 2020 11:31 AM | Report Abuse

Market is changing from time to time, what about if on Nov price shoot to rm1?, Then u tell investor now crps not more 66sen? It all depends on how investor value these asset not market price, I can tell u if now share price shot to 66sen , there will be many people come out tell u this crps is very cheap to subscribe.


Newbn00b
208 posts

Posted by Newbn00b > Oct 21, 2020 1:15 PM | Report Abuse

With current and oil price forecast, we are going to enjoy cheap petrol at least another year. Hibiscus share holder has to be long term investor for some time


DragonG
80 posts

Posted by DragonG > Oct 21, 2020 1:43 PM | Report Abuse

https://protect2.fireeye.com/v1/url?k=4b1e7323-15533efe-4b1fa0ce-000babff757a-20116f100560ec8d&q=1&e=4f78837d-e7e1-4f3f-912a-eae139a99263&u=https%3A%2F%2Fhibiscuspetroleum.us2.list-manage.com%2Ftrack%2Fclick%3Fu%3D733371612371c9595d2a2a631%26id%3D2ab6ce3f5f%26e%3Da4a0d7bfaa


DragonG
80 posts

Posted by DragonG > Oct 21, 2020 1:44 PM | Report Abuse

The above was sent to the shareholders' personal email.


Dericlock
1526 posts

Posted by Dericlock > Oct 21, 2020 3:01 PM | Report Abuse

@micsoh, the CRPS price is RM1 but the conversion is based on the 5 days average price. And tranche 1 is fixed at 66c and do not based on asset acquired value (indeed they have no confirmed asset acquisition yet, just potential).

So if market price did indeed fall to 40 c in nov, and tranche 1 is not fully subscribed then tranche 2 will based on 5 days average again. So market price will indeed affect the attractiveness of CPRS.
And CRPS will worth more if the hibiscus price if let say go to rm1, because you are now eligible to convert 66c per share, hence a straight earning of 34c (excluding diluting effect).


Dericlock
1526 posts

Posted by Dericlock > Oct 21, 2020 3:04 PM | Report Abuse

so if let you have a friend wanna sell you personally his own house let say 1mil, but on market selling 600k per unit.

Will you think this deal is attractive enough? or more likely you will drop the deal and go and purchase from open market?


micsoh
853 posts

Posted by micsoh > Oct 21, 2020 3:38 PM | Report Abuse

Like I said before when u buy 3b in market, the price will be push higher like rocket, u can't expect all 3b is 66sen in cost at that time.hibiscus share qty is not much just 1.5b only , if u deduct boss and the institution holding, they normally not easy dispose their share one, than how much free float in market? So if big player want to buy in big bulk, this crps provide the great opportunity with very share is fix at 66sen.When oil market recover, hibiscus share price will much higher than 66sen, but if don't believe it at least worth more than 66sen in future, better don't touch this share.
They have said they had identify several asset in mind, this mean they had plan in earlier. I don't think these shark can subscribed qty they want. And the boss also hind investor the size of asset which is 6times compare with current one.


hendrycheah
246 posts

Posted by hendrycheah > Oct 21, 2020 3:40 PM | Report Abuse

Deric, I'm fully agreed with you.

But by taking CRPS, they are almost risk free, HIbi will activate the conversion of stock of 66c when they have confirm getting the assets they wanted and when this news is out in the market, the stock price would fly over the roof.

Even If HIbi lost the bid, they still can get 4% interest yearly, but if they get the shares in the open market, they are open to the risk of price volatility.


micsoh
853 posts

Posted by micsoh > Oct 21, 2020 3:53 PM | Report Abuse

Don't care too much about whether price will up to 66sen or not before 12nov, just see what kind of asset they get, this kind of event sometime will made your fortune double if the asset is good.


Dericlock
1526 posts

Posted by Dericlock > Oct 21, 2020 4:10 PM | Report Abuse

@micsoh, the asset quality obtained is one topic but the dilution effect of CRPS is another topic.
So if tranche 1 fail or not fully subscribed then will move on to consecutive tranche, and if price maintain as what it is then the conversion price for tranche 2 will be lower than 66c.

So with lower conversion price, each CRPS can convert more hibiscus shares, and current shareholder's stake in hibiscus will be further diluted. As an example, if u have 10% stake in a 1 million earning company, means your portion of earning is 100k.
But because of the company perform a CRPS, and your stake diluted to 1% and the company able to grow to 10 million. Will you enjoy the growth of the company?

So the losses to shareholders due to dilution is confirmed, but the potential growth is a question mark.
And the worst part is the more tranche it is, the heavier the dilution is.


micsoh
853 posts

Posted by micsoh > Oct 21, 2020 4:15 PM | Report Abuse

So u means if price drop to 40sen, than management will fix the price to 36sen, and issue 5.5b and immediately boss become small shareholder? and boss allow that happen, will u do that if u were him?


Dericlock
1526 posts

Posted by Dericlock > Oct 21, 2020 4:15 PM | Report Abuse

i have no doubt on the hibiscus' capability of getting good asset.
And is it a good time? i think yes due to the low oil price and many international player getting out from msia.

But is it a good time to raise fund? i think hibiscus just miss the golden opportunity.
What hibiscus doing now is selling its asset cheap to get fund and trying to buy another bigger asset that "probably cheap" .
Is it worth the bet? up to shareholders to think about


Dericlock
1526 posts

Posted by Dericlock > Oct 21, 2020 4:18 PM | Report Abuse

@micsoh, 10% premium....so it's conversion price is 40c+10%=44c, and how you know the boss are not the subscriber of the CRPS? By buying a lot more CRPS he can increase his stakes in hibiscus?

Only interest of the retail shareholders are being ignored here as we are not eligible to subscribe for CRPS. (Or perhaps you are eligible)


micsoh
853 posts

Posted by micsoh > Oct 21, 2020 4:28 PM | Report Abuse

Yeah, it's 44sen my mistake, share issue will be 4.5b, that's also a lot.i don't know how much u want to buy hibiscus share, if not big, why don't u buy in market, just 50sen only? Why u envy the crps ? If boss say every shareholder is entitled to subscribe, I mostly dump already.


Newbn00b
208 posts

Posted by Newbn00b > Oct 21, 2020 5:09 PM | Report Abuse

Only Deri understand my concern about dilution and trench 1 not going to make it when I mentioned it on September. The boss will further press down the price to lower conversion rate of CRPS. By doing this, they will further dilute our share and gain the most out of it on current CRPS play.


TillyLovers
288 posts

Posted by TillyLovers > Oct 22, 2020 5:20 PM | Report Abuse

Hi, between Hibiscus and Bumi Armada, which one is better?


mariner06lai
23 posts

Posted by mariner06lai > Oct 22, 2020 7:13 PM | Report Abuse

It is question of asking comparation between orange and apple even both of them are categorized as fruit.


NPRA1985
686 posts

Posted by NPRA1985 > Oct 25, 2020 1:41 AM | Report Abuse

waiting for it to drop to 18c


Winner128
194 posts

Posted by Winner128 > Oct 26, 2020 10:47 AM | Report Abuse

vaccine already on the progress to test and release.....hope can make it faster....
Then oil and gas counter can immedietaly on short period to up.....


hendrycheah
246 posts

Posted by hendrycheah > Oct 26, 2020 1:11 PM | Report Abuse

wow..hibi is darn solid..wont budge no matter what happen..just linger around 490 to 500


micsoh
853 posts

Posted by micsoh > Oct 28, 2020 12:49 PM | Report Abuse

Mostly this time is the last wave of covib infection, next year I think is a good year for economy and oil market.


Loh Kok Wai W
955 posts

Posted by Loh Kok Wai W > Oct 28, 2020 8:24 PM | Report Abuse

all oil counters price will be drop .........like MAY.


Dave92
53 posts

Posted by Dave92 > Oct 28, 2020 9:42 PM | Report Abuse

Biden like green energy...
Oil counter better avoid.
Sell.


mf
22865 posts

Posted by mf > Oct 28, 2020 9:44 PM | Report Abuse

Dow Jones 26,963.221 -499.97 1.82%
Nasdaq 11,187.07 -244.286 2.14%


jolow
481 posts

Posted by jolow > Oct 28, 2020 10:15 PM | Report Abuse

sohai mf


Catlim69
1001 posts

Posted by Catlim69 > Oct 28, 2020 10:39 PM | Report Abuse

Lol all lock down ... no one use oil


OKU_2020
650 posts

Posted by OKU_2020 > Oct 29, 2020 12:20 AM | Report Abuse

Bloody oil market - Brent now collapsed to below USD 40


NPRA1985
686 posts

Posted by NPRA1985 > Oct 29, 2020 12:58 AM | Report Abuse

Biden looks like going to win. What will be the impact if he wins?


hendrycheah
246 posts

Posted by hendrycheah > Oct 29, 2020 12:14 PM | Report Abuse

We know Biden is a green energy guy.. many shale oil in America may end up bankrupt after Trump gone... US produce 20% of world oil consumption, what do you think to oil price will be when CV dissipate and economy starting to grow with 10 to 15% less oil production?


AllYouCanBuy
324 posts

Posted by AllYouCanBuy > Oct 29, 2020 12:57 PM | Report Abuse

Green energy will only take over the fossils in another 30 years. Less oil production will be good for the oil prices, when the demand resumes.


AllYouCanBuy
324 posts

Posted by AllYouCanBuy > Oct 29, 2020 12:59 PM | Report Abuse

Definitely must go green for the sake of the Earth. But it doesn't happen overnight!


Fish herman
68 posts

Posted by Fish herman > Oct 29, 2020 3:37 PM | Report Abuse

If Biden wins, he will definitely not close down oil production so quickly otherwise it will be very shaky for him. Remember how much oil contributes to US economy. During such a critical time of Covid, do you think the new president would want to bring further down the current economic condition? It will be at least years until he can slowly go green. Weak hands can leave


Loh Kok Wai W
955 posts

Posted by Loh Kok Wai W > Oct 29, 2020 8:11 PM | Report Abuse

oil price 35.80 now.....will drop below 30.00 ?


abang_misai
1635 posts

Posted by abang_misai > Oct 29, 2020 8:21 PM | Report Abuse

still ok what? I expect oil to revisit USD10 soon.


OKU_2020
650 posts

Posted by OKU_2020 > Oct 29, 2020 8:52 PM | Report Abuse

OIl collapsed to USD 37....the worst is comingg
tanking around 11 %


Newbn00b
208 posts

Posted by Newbn00b > Oct 29, 2020 9:20 PM | Report Abuse

0.40 is not far away. But I have no more bullet. What a pity


Catlim69
1001 posts

Posted by Catlim69 > Oct 29, 2020 9:32 PM | Report Abuse

Buy more. Limit up once vaccines out


emil
1179 posts

Posted by emil > Oct 29, 2020 10:27 PM | Report Abuse

after US election, ....US will announce full lockdown again...Oil price will drop to US$15

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