Highlights
KLSE: PETRONM (3042)       PETRON MALAYSIA REFINING & MARKETING BHD MAIN : Energy
Last Price Today's Change   Day's Range   Trading Volume
6.49   -0.10 (1.52%)  6.49 - 6.68  84,500
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Overview

Market Cap: 1,752 Million
NOSH: 270 Million
Avg Volume (4 weeks):121,731
4 Weeks Range:6.49 - 7.60
4 Weeks Price Volatility (%):
0.00%
52 Weeks Range:6.49 - 15.06
52 Weeks Price Volatility (%):
0.00%
Average Price Target: 10.10
Price Target Upside/Downside: +3.61

Financial Highlight

Latest Quarter | Ann. Date 30-Sep-2018 [#3]  |  15-Nov-2018
Next QR | Est. Ann. Date: 31-Dec-2018  |  22-Feb-2019
T4Q P/E | EY: 5.01  |  19.95%
T4Q DY | Payout %: 3.85%  |  19.30%
T4Q NAPS | P/NAPS: 6.2739  |  1.03
T4Q NP Margin | ROE: 2.92%  |  20.64%

Headlines

Date Subject
16-Nov-2018 Petron Malaysia - Weak Margins Already Priced-In; Keep BUY
26-Sep-2018 上升股:PETRON大马阻力RM8.80
13-Sep-2018 下跌股:Petron大马RM8.22支撑
07-Sep-2018 下跌股:Petron大马RM8.22支撑
03-Sep-2018 Technical Analysis - Petron Malaysia
03-Sep-2018 Mplus Market Pulse - 3 Sept 2018
02-Sep-2018 上升股:Petron大马阻力RM8.98
30-Aug-2018 Petron not sole fuel supplier, Putrajaya clarifies after cronyism allegation
30-Aug-2018 Petron gets green light to supply fuel to government vehicles
30-Aug-2018 Petron Malaysia - Driven by Organic Growth
27-Jun-2018 下跌股:Petron大马RM7.14支撑
25-Jun-2018 [TRV] Petron Malaysia 59th AGM Notes
25-May-2018 Petron Msia Refining and Marketing - Unfavorable Dynamics A Bane
15-May-2018 上升股:Petron大马阻力RM11.00
19-Apr-2018 下跌股:Petron大马RM7.82支撑
12-Apr-2018 [转贴] HENGYUAN和PETRONM的旋风打回原形~~你得到了启示吗?- GreedOne
08-Apr-2018 上升股:Petron大马阻力RM9.10
07-Apr-2018 [转贴] [PETRON MALAYSIA REFINING & MARKETING BHD,全球原油供应和需求不确定] - James的股票投资James Share Investing
06-Apr-2018 HENGYUAN VS PETRONM Comparison @ 5th April 2018 - oldfriendsinvesting
05-Apr-2018 下跌股:Petron大马RM6支撑

Business Background

Petron Malaysia Refining & Marketing Bhd is a Malaysian oil company engaged in producing a wide range of petroleum products which include gasoline, diesel, liquefied petroleum gas (LPG) and aviation fuel.
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  8 people like this.
 
Parttimer sleepy zzz
03/12/2018 17:09
sheldon Wow - Legal suit against Petron in excess of RM109m!

What are their chances of winning?
04/12/2018 11:39
PassiveInvestor where did you get this info?
04/12/2018 13:49
Choivo Capital I think he means petron phillipines.

That one they are arguing with pnoc on supply.
04/12/2018 13:56
sheldon bursa announcement ...

Kuala Lumpur High Court Civil Suit No : WA-22NCvC-773-11/2018 Konsortium Lord-Saberkat Sdn Bhd (Plaintiff) v Petron Malaysia Refining & Marketing Bhd (Defendant)

Petron Malaysia Refining & Marketing Bhd ("Petron") wishes to inform that Petron was served with a Writ and Statement of Claim from the solicitors of Konsortium Lord-Saberkat Sdn Bhd ("Lord Saberkat").



Previously, Lord Saberkat had filed a writ against Petron based on allegations that Petron failed to pay Lord Saberkat for the works and tasks that were allegedly ordered by Petron and were allegedly carried out by Lord Saberkat per the Standard Transportation Agreement No. 2005-01FM dated 19 December 2005, as amended ("Agreement") between Petron and Lord Saberkat ("the First Suit"). This Agreement was for the supply of transportation services by Lord Saberkat to Petron for the delivery of fuel to Petron's service stations in Peninsular Malaysia.



Petron refers to the announcements to Bursa Malaysia Securities Berhad made on 3 November 2014, 30 June 2015, 14 July 2015, 21 July 2015, 24 July 2015, 10 December 2015, 6 January 2016, 8 November 2016, 15 December 2016 and 10 January 2018, in relation to the First Suit.



For the First Suit, the High Court on 30 June 2015 dismissed most of Lord Saberkat's claims and subsequently both Lord Saberkat and Petron separately filed an appeal against the judgment of the High Court. The Court of Appeal heard the two appeals together and dismissed Lord Saberkat's appeal and allowed Petron's appeal. Lord Saberkat then filed a motion to seek leave to appeal to the Federal Court and this motion was dismissed by the Federal Court. Lord Saberkat then filed for motion to review the Federal Court decision and was also dismissed by the Federal Court. Subsequently, Lord Saberkat filed a motion to amend the Order made by the Court of Appeal dated 10 December 2015 and was also dismissed by the Court of Appeal on 24 September 2018.



Lord Saberkat has since filed an application for leave to appeal to the Federal Court in relation to the dismissal by the Court of Appeal, which has been fixed for case management on 20 December 2018.



Lord Saberkat has now filed a new claim against Petron allegedly over a breach of contract in relation to the same Agreement ("the Second Suit").



The claims filed by the Lord Saberkat pursuant to the Writ and Statement of Claim, as pleaded therein, are as follows:



a) Damages amounting to RM109,183,517 particulars of which consists of the following :

Loss of Orders amounting to RM62,732,065;
Loss of Profit amounting to RM24,126,724; and
Depreciation, Loss of value of Lord Saberkat's dedicated fleet of road tankers amounting to RM22,324,728
b) General damages;

c) Interest on damages from the date of the Writ until satisfaction of the judgment at such rate as the Court deems fit;

d) Costs; and

e) Such further and other relief as the Court may deem fit, just and equitable.



Petron has intructed external counsel to act on its behalf and Petron will defend its position and take all necessary legal action as deemed appropriate. Petron strongly denies that there are any such breach of contract and claims as alleged by Lord Saberkat.



Petron does not expect or anticipate any impact to its finances or operations as a result of this Second Suit.
04/12/2018 14:57
Choivo Capital Oh this one. Should be dead in the water.
04/12/2018 15:33
Choivo Capital http://www.kehakiman.gov.my/judgment/file/W-02(NCVC)(W)-1237-08-2015.pdf

read the previous judgements here.
04/12/2018 15:46
sheldon tq again
04/12/2018 16:37
Fabien Extraordinaire alamak, drop so little only.

was hoping such news can freak ppl out.
04/12/2018 17:45
Choivo Capital Haha. Im waiting below 7 or 6. Top up a little by little.

Don't want it to reach 30% size too fast haha.
05/12/2018 09:59
RainT @choivo

Why invest in PETRONM? ?

Don't you feel that oil price is too voltile and is very tiring to follow up and keep track ??
05/12/2018 11:18
Choivo Capital I dont care about the oil price or the crack spread. The changes in those prices, have very little effect on my estimate on the intrinsic value of petronm.

I wrote something on refineries.

https://choivocapital.com/2018/11/28/an-estimate-on-the-real-refinery-...

Its on HY, but some is applicable to petronm. I'm not talking much about the economic moat of Petronm, although felicity did write a bit on it.

Why? I havent buy enough. With my margin facility, i can reach my size right away, but i like buying slowly first, and keep rereading the accounts for the last 5-6 years, just in case i forget anything.

Up to you. What i'll say is, its currently 15.5% of fund. If im right, i'd like it to be 25% -30%.
05/12/2018 14:02
Fabien Extraordinaire i'm quietly and patiently waiting below 7.

Jon, please don't write anything more on Petronm. Thanks!
05/12/2018 15:20
Choivo Capital haha same same will diam.

Do you any perspective for hibiscus.
05/12/2018 16:00
sheldon I agree Chiovo that oil price change has little bearing on the Co's fortunes.

In fact a drop would be better because even though the inventory held is marked down, Petron's downstream namely aircraft fuel will earn fatter crack spreads in the longer run when inventory is replenished.

Car petrol spread is government regulated so the spread is somewhat stable.
06/12/2018 10:04
Choivo Capital Yeah,

In general, a drop will definitelly cost a little on a net basis. Because derivatives do not cover with perfection. They usually aim to cover most, but not all. (if a company covers way more than the inventory etc, chances are they are now speculating on them, and its not just for the operations of the business.

There may be a slight timelag in crack, but this is really just conjecture.

At the end of the day, the above statements have very little bearing on the long term economic power of the company. They just need to be done right. If not done properly, we get that 900m stockholding loss in hy in 2014.

Having said that, the absolute best refineries are those that have the financial strength to never need to hedge. At the end of the day, the results from hedging over the long term is a negative. Hedging cost more than 4% of the underlying inventories per year, easily.

But very few can do that, due to the strong dividend payouts. Except for the ones under berkshire hathaway.
06/12/2018 10:17
sheldon Actually I stand corrected as aircraft fuel will be priced based on market price.

It's the lubes, gas and other products which are stagnant in prices that earn fat spreads when crude price is down.
06/12/2018 15:13
sheldon BTW - managed to strike 1 at 6.97
06/12/2018 15:15
Choivo Capital Haha, nice. I'm thinking about it. Since its margin/borrowed money after. Best to be more conservative.

And i keep wondering what did i miss out on.

Only thing i don't like, is i dont have the figures for marketing seperately. But at this valuation. Well..
06/12/2018 15:17
trulyinvest all support broken... rm6 on the way
06/12/2018 17:00
Choivo Capital Looking forward to that.
06/12/2018 17:24
sheldon This Co can afford to pay a pretty good dividend given the good run of profits of late to pacify shareholders for the poor price.

That will give Petron shares an added boost in demand.

There's enough reserves and cash to pay 30 sen which would amount to RM40.5m.
07/12/2018 11:44
sheldon heng yuan showed a loss in the latest quarterly
07/12/2018 15:05
Choivo Capital Look closer.

===
Posted by sheldon > Dec 7, 2018 03:05 PM | Report Abuse

heng yuan showed a loss in the latest quarterly
07/12/2018 15:06
yfchong Should be OK.... Let's go
08/12/2018 07:55
yfchong Game changer....
09/12/2018 18:41
Jaya Fall some more please
10/12/2018 00:22
yfchong Fall...... Timber......
10/12/2018 16:07
yfchong All the way down...
10/12/2018 17:21
Jaya Choivo
Thanks for your comments, you peddling shit la
11/12/2018 00:22
yfchong All low...
11/12/2018 17:21
sheldon Caught a falling knife at 6.72!

How low can it go!
12/12/2018 10:39
yfchong 6.50
12/12/2018 10:54
trulyinvest rm5 coming
12/12/2018 11:15
Choivo Capital With luck.

1 sen.

===
sheldon Caught a falling knife at 6.72!

How low can it go!
12/12/2018 10:39
12/12/2018 12:30
mamatede Whats the next support? RM6?
12/12/2018 15:16
trulyinvest negative refining margin... warning...
12/12/2018 16:19
Fabien Extraordinaire free fall. no support.

1 sen coming


Posted by mamatede > Dec 12, 2018 03:16 PM | Report Abuse

Whats the next support? RM6?
12/12/2018 16:43
TakeProfits Wah, this good stock free fall? Why, anyone of you sifus please,tell.is why?
12/12/2018 17:37
yfchong Just wait lah....
12/12/2018 18:26
kong73 Mampus
12/12/2018 18:57
yfchong OK mampus.... To find bottom fishing
12/12/2018 20:12
yfchong Here patience...
12/12/2018 23:26
yfchong Hit... 6.5
13/12/2018 11:01
yfchong Some where near
13/12/2018 11:01
sheldon Oh dear WTF!
13/12/2018 11:24
yfchong Wti
13/12/2018 11:34
sheldon market has advanced for 2 days but my horses are running backwards - haha
13/12/2018 11:36
yfchong Tiger resting
13/12/2018 11:40
trulyinvest let it break rm6
13/12/2018 11:51


 

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