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Last Price Today's Change   Day's Range   Trading Volume
0.14   +0.01 (7.69%)  0.13 - 0.14  18,123,500
20,461 comment(s). Last comment by Macgyver11 at Jan 19, 2022 12:35 PM
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Macgyver11
1601 posts

Posted by Macgyver11 > Aug 23, 2021 1:37 PM | Report Abuse

Ya volume not there...


bullmarket1628
2087 posts

Posted by bullmarket1628 > Aug 23, 2021 5:19 PM | Report Abuse

Superb, good closing !
Velesto closed at => 0.135 +0.005 +3.9%

Huat ah, Heng ah, Ong ah !


Valgrovest
1210 posts

Posted by Valgrovest > Aug 23, 2021 7:56 PM | Report Abuse

With the upward movement in share price today, I think the coming QR should be better than the previous one.


JuliusCeasar
996 posts

Posted by JuliusCeasar > Aug 23, 2021 9:33 PM | Report Abuse

What I noticed is 0.005 cents up in a small trading volume. Its a positive sign actually and could go up further. Could be AMANAH RAYA is behind of this. Let's see tomorrow trend.... Interesting to know.


serpent100
116 posts

Posted by serpent100 > Aug 23, 2021 9:58 PM | Report Abuse

Knm rebound... Hopefully velesto also can up up up


bullmarket1628
2087 posts

Posted by bullmarket1628 > Aug 24, 2021 9:52 AM | Report Abuse

Walaoeh, oil price spike up like mad !
Brent closed at $68.15 ‪+3.40 +5.3%‬

Huat ah, Heng ah, Ong ah !


Valgrovest
1210 posts

Posted by Valgrovest > Aug 24, 2021 4:20 PM | Report Abuse

Oil price shooting up. Brent price almost touching USD70 already. Good for O&G ctrs !


Bgt 9963
7445 posts

Posted by Bgt 9963 > Aug 24, 2021 4:38 PM |

Post removed. Why?


JuliusCeasar
996 posts

Posted by JuliusCeasar > Aug 24, 2021 5:03 PM | Report Abuse

Look like AMANAH RAYA is on the show today. Today is 2nd day of buying momentum. Up by another 0.005 cents. Total up for 2 days is 0.01 cents. Hmmmmmmmm not bad


bullmarket1628
2087 posts

Posted by bullmarket1628 > Aug 25, 2021 6:20 AM | Report Abuse

Walaoeh, oil price continue it’s bull run !
Brent closed at $70.44 ‪+2.07 +3.0%‬

Huat ah, Heng ah, Ong ah !


bullmarket1628
2087 posts

Posted by bullmarket1628 > Aug 25, 2021 9:25 AM |

Post removed. Why?


Twowah123
632 posts

Posted by Twowah123 > Aug 25, 2021 9:36 AM | Report Abuse

Velesto looks supergood.


Valgrovest
1210 posts

Posted by Valgrovest > Aug 25, 2021 11:51 AM | Report Abuse

World oil prices very steady. A big plus for Velesto.


JuliusCeasar
996 posts

Posted by JuliusCeasar > Aug 25, 2021 12:39 PM | Report Abuse

VELESTO is about time to release QR. Could be this evening, tomorrow or Friday. Hopefully it's a better one.


xiaogumin88
181 posts

Posted by xiaogumin88 > Aug 25, 2021 2:07 PM | Report Abuse

this counter not yet mati ke?


Valgrovest
1210 posts

Posted by Valgrovest > Aug 25, 2021 2:53 PM | Report Abuse

When world oil prices go up, even salted fishes in dead sea can turn into gold fish or Arowanna....


Bgt 9963
7445 posts

Posted by Bgt 9963 > Aug 25, 2021 4:03 PM |

Post removed. Why?


Macgyver11
1601 posts

Posted by Macgyver11 > Aug 25, 2021 7:36 PM | Report Abuse

Newly appointed BOD

Dr. Mohd Shahreen Zainooreen Madros (Ir. Dr. Shahreen) has over 30 years of working experience in various capacities. His work experience includes as a lecturer in Engineering Faculty in Universiti Kebangsaan Malaysia, over 20 years in the oil and gas industry, and almost 10 years in the government agencies. Ir. Dr Shahreen was appointed as the CEO of MATRADE in early 2017 and served until Feb 2019. He has worked with many industries beyond oil and gas and formulating strategic directions in growing and promoting trade. He has represented Malaysia in many international trade missions and involved in various industry dialogue working with the Ministry of International Trade and Industry. He aims to forge strategic partnerships with all relevant stakeholders in both private and public sectors at various levels within ministries, agencies, trade associations, chambers of commerce and business councils, to ensure Malaysia remains competitive globally. Ir. Dr Shahreen is now an independent advisor to many industries. He is also a certified coach with Malaysian Institute of Management (MIM), a pro-temp committee for IAC Malaysia, and is an Adjunct Professor with a local university.


Macgyver11
1601 posts

Posted by Macgyver11 > Aug 25, 2021 7:41 PM | Report Abuse

Encik Irwan is currently the Group Head, Private Markets of Permodalan Nasional Berhad (PNB) overseeing Private Equity asset class. Prior to joining PNB, he was with Ekuiti Nasional Berhad as a Director Investment from December 2011 to July 2017. He also had served as Vice President, Business Development at Integrax Berhad, Halim Rasip Holdings Sdn. Bhd. from December 2009 to November 2011. He started his career in March 2004 with PricewaterhouseCoopers Kuala Lumpur in Assurance Services and later moved to Advisory Services specialising in Mergers & Acquisitions, Corporate Finance and Project Financing.


Macgyver11
1601 posts

Posted by Macgyver11 > Aug 25, 2021 7:45 PM | Report Abuse

Guys,
Tomorrow sure limit up...qtr gained 16,267mil. Superb!!!


Macgyver11
1601 posts

Posted by Macgyver11 > Aug 25, 2021 7:47 PM | Report Abuse

Fasten your seatbelt....Limit up coming.


Macgyver11
1601 posts

Posted by Macgyver11 > Aug 25, 2021 7:50 PM | Report Abuse

Datuk Tong poh keaw

She was formerly the General Manager, Accounting and Financial Reporting, Group General Manager, Finance (Group Accounting and Financial Reporting) and Chief Finance Officer of Kumpulan Guthrie Berhad (KGB). She joined the KGB Group in 1983 as an Accountant-cum-Assistant Company Secretary for Highlands & Lowlands Berhad. Datuk Tong is a member of the Malaysian Institute of Accountants, a member of the Institute of Chartered Secretaries and Administrators, United Kingdom and a Fellow of the Association of Chartered Certified Accountants, United Kingdom. She was appointed a member of the Malaysian Accounting Standards Board (MASB) on 1 October 2013.


Macgyver11
1601 posts

Posted by Macgyver11 > Aug 25, 2021 7:51 PM | Report Abuse

All the BOD well experienced...good sign


Macgyver11
1601 posts

Posted by Macgyver11 > Aug 25, 2021 7:53 PM | Report Abuse

Superb QTR + extraordinary BOD....


Macgyver11
1601 posts

Posted by Macgyver11 > Aug 25, 2021 7:59 PM | Report Abuse

Potential go for 0.30 klu ni mcm..


Expertise
1230 posts

Posted by Expertise > Aug 25, 2021 8:02 PM | Report Abuse

Wow wow
Limit up 30


JJchan
7091 posts

Posted by JJchan > Aug 25, 2021 9:07 PM | Report Abuse

Reference is made to the previous announcements made by the Company on enforcement
proceeding against Frontier Oil Corporation (“FOC”) by Velesto Drilling Sdn Bhd (“VED”), a wholly
owned subsidiary of the Company, at the Regional Trial Court, in Makati City, Phillippines (“Makati
Court”).

On 28 June 2021, Makati Court has decided the arbitral award dated 12 July 2018 issued by
Singapore International Arbitration Centre in favour of VED be recognized and enforced. With
execution to enforce the award in Philippines, the Company will make further announcement on
material development on this matter from time to time.


********I think Velesto has established a "second" earnings potential by Sinking Oil Rig and
make Insurance Claims And / Or Sued someone like Frontier Oil Corp US$ 19.2 mil
Or RM80.64 mil *****************


JJchan
7091 posts

Posted by JJchan > Aug 25, 2021 9:07 PM | Report Abuse

https://www.theedgemarkets.com/article/velesto-secures-us192-mil-arbitration-award-against-philippine-og-firm


JuliusCeasar
996 posts

Posted by JuliusCeasar > Aug 25, 2021 9:57 PM | Report Abuse

Sure fried up tomorrow by Amanah Raya.


Macgyver11
1601 posts

Posted by Macgyver11 > Aug 25, 2021 9:59 PM | Report Abuse

Canteeeek!!


serpent100
116 posts

Posted by serpent100 > Aug 25, 2021 10:14 PM | Report Abuse

Not so happy... Maybe up 0.005 only


DrShah
3 posts

Posted by DrShah > Aug 25, 2021 11:24 PM | Report Abuse

https://www.theedgemarkets.com/article/velesto-returns-black-2q-rm16-mil-profit-recognition-insurance-claim-naga-7-incident


Macgyver11
1601 posts

Posted by Macgyver11 > Aug 26, 2021 4:12 AM | Report Abuse

Wow brent break 70 again...


bullmarket1628
2087 posts

Posted by bullmarket1628 > Aug 26, 2021 6:02 AM | Report Abuse

Walaoeh, oil price continue to rise !
Brent closed at $70.9‪1 +0.50 +0.71%‬

Huat ah, Heng ah, Ong ah !


JuliusCeasar
996 posts

Posted by JuliusCeasar > Aug 26, 2021 8:51 AM | Report Abuse

Definitely Amanah Raya would make money today.


sheep
3787 posts

Posted by sheep > Aug 26, 2021 9:08 AM | Report Abuse

Recognition of claim? duit belum masuk boleh kira dulu? If insurance company in liquidation, then how?
Next qr will be damn bloody ...wakakakaka


Valgrovest
1210 posts

Posted by Valgrovest > Aug 26, 2021 10:38 AM | Report Abuse

https://www.theedgemarkets.com/article/velesto-returns-black-2q-rm16-mil-profit-recognition-insurance-claim-naga-7-incident

See - I am quite right. insurance claim received


Lewis Lee
1245 posts

Posted by Lewis Lee > Aug 26, 2021 10:57 AM | Report Abuse

Utilisation outlook remains weak; sinking of Naga 7 could be a blessing in disguise. In line with Petronas’ activity outlook, local demand for jack-up rig is still expected to remain weak in the coming 1- 2 years. Nonetheless, given the thinning of its fleet follow Naga 7’s demise, coupled with some upcoming short-term jobs, we believe upcoming quarters could see higher rig utilisation numbers. Overall, the sinking of Naga 7 could prove to be a blessing in disguise. With the incoming influx of cash from the insurance claims, the money could be used to pare down almost half of its borrowings – potentially lowering its net gearing to 0.1x from 0.4x currently. This could give the company the much-needed headroom to ride through the current tough market conditions while awaiting a recovery. Additionally, a smaller fleet would also ensure higher utilisation rates, especially considering current difficult market conditions.


Lewis Lee
1245 posts

Posted by Lewis Lee > Aug 26, 2021 11:01 AM | Report Abuse

The borrowing is cut to half with net gearing 0.1x !
meaning shareholders no need to worry about this company going bankrupt or issuing rights issue to ask for more money from shareholders !!

Insurance money help to reduce debts + increase rig utilisation rate during slow economic time !!


Valgrovest
1210 posts

Posted by Valgrovest > Aug 26, 2021 11:17 AM | Report Abuse

Overall the credentials of this company look comfortable. I suppose can buy for short to medium terms. Also good for trading too given the company being in good shape at the moment.


wallstreetrookie
6159 posts

Posted by wallstreetrookie > Aug 26, 2021 1:17 PM | Report Abuse

Return to the black


JuliusCeasar
996 posts

Posted by JuliusCeasar > Aug 26, 2021 1:37 PM | Report Abuse

MAYBANK PUT TP 0.33 CENT. Good sign and definitely moving up. Happy trading u all guys!


JoshuaMS7
4237 posts

Posted by JoshuaMS7 > Aug 26, 2021 2:01 PM | Report Abuse

i don't think it will up as expected even report return green!


bullmarket1628
2087 posts

Posted by bullmarket1628 > Aug 26, 2021 4:15 PM |

Post removed. Why?


bullmarket1628
2087 posts

Posted by bullmarket1628 > Aug 26, 2021 4:18 PM | Report Abuse

Super good news today for Velesto !


bullmarket1628
2087 posts

Posted by bullmarket1628 > Aug 26, 2021 4:19 PM | Report Abuse

Velesto returns to black in 2Q with RM16 mil profit on recognition of insurance claim from Naga 7 incident

Syafiqah Salim/
theedgemarkets.com
August 25, 2021 22:48 pm
https://www.theedgemarkets.com/article/velesto-returns-black-2q-rm16-mil-profit-recognition-insurance-claim-naga-7-incident

KUALA LUMPUR (Aug 25): Velesto Energy Bhd returned to the black with a net profit of RM16.27 million for the second quarter ended June 30, 2021 (2QFY21), from a net loss of RM15.25 million in the corresponding quarter a year ago, despite lower revenue, following the recognition of insurance claims in relation to its Naga 7 incident.
Quarterly revenue fell 40.7% to RM83.55 million from RM140.95 million in 2QFY20, mainly due to lower activities in its drilling segment, its stock exchange filing showed. No dividends were declared for the quarter.
Its latest quarterly earnings is also an improvement from its immediate preceding quarter (1QFY21), when it incurred a net loss of RM60.47 million, as revenue jumped 90.2% from RM43.93 million — mainly due to higher revenue from drilling services. Drilling services’ revenue rose 96.82% to RM80.25 million from RM40.77 million, on higher average jack-up rig utilisation.


JuliusCeasar
996 posts

Posted by JuliusCeasar > Aug 26, 2021 5:07 PM | Report Abuse

Not so bad. Up by 0.01 cents. From Monday to Thursday today altogether has gone up by 0.02 cents.
It's uptrend mode now and follow KNM UPTREND PATTERN. Steady VELESTO!


JuliusCeasar
996 posts

Posted by JuliusCeasar > Aug 26, 2021 5:13 PM | Report Abuse

Volume trading is not very impressed but yet its still going up by 0.01 cents. That's meant it is purposely plan to going up slowly but surely. Hooray!!


Valgrovest
1210 posts

Posted by Valgrovest > Aug 27, 2021 3:46 PM | Report Abuse

Wow.....Brent price is now USD72.26 (up 2 %). Good for O&G companies.


JuliusCeasar
996 posts

Posted by JuliusCeasar > Aug 27, 2021 3:48 PM | Report Abuse

Uptrend continues! .... Already Hit 0.155 cents. Up by 0.005 cent. Hehehe

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