Highlights
KLSE: HIBISCS (5199)       HIBISCUS PETROLEUM BHD MAIN : Energy
Last Price Today's Change   Day's Range   Trading Volume
0.475   -0.005 (1.04%)  0.47 - 0.485  3,946,800
Analyze this stock with MQ Trader system

Financials


Market Cap: 754 Million

Market Cap 754 Million
NOSH 1,588 Million

Latest Audited Result:  30-Jun-2020

Latest Audited Result: 30-Jun-2020
Announcement Date 01-Oct-2020
Next Audited Result: 30-Jun-2021
Est. Ann. Date: 01-Oct-2021
Est. Ann. Due Date: 27-Dec-2021

Latest Quarter:  30-Jun-2020 [#4]

Latest Quarter: 30-Jun-2020 [#4]
Announcement Date 24-Aug-2020
Next Quarter: 30-Sep-2020
Est. Ann. Date: 21-Nov-2020
Est. Ann. Due Date: 29-Nov-2020
QoQ | YoY   -610.08%  |    -687.29%

Annual (Unaudited) ( EPS: -3.10, P/E: -15.32 )

Revenue | NP to SH 646,504  |  -49,254
RPS | P/RPS 40.71 Cent  |  1.17
EPS | P/E | EY -3.10 Cent  |  -15.32  |  -6.53%
DPS | DY | Payout % 0.00 Cent  |  0.00%  |  - %
NAPS | P/NAPS 0.77  |  0.62
YoY   -121.41%
NP Margin | ROE -7.62%  |  -4.03%
F.Y. | Ann. Date 30-Jun-2020  |  24-Aug-2020

T4Q Result ( EPS: -3.10, P/E: -15.32 )

Revenue | NP to SH 646,504  |  -49,254
RPS | P/RPS 40.71 Cent  |  1.17
EPS | P/E | EY -3.10 Cent  |  -15.32  |  -6.53%
DPS | DY | Payout % 0.00 Cent  |  0.00%  |  - %
NAPS | P/NAPS 0.77  |  0.62
QoQ | YoY   -140.82%  |    -121.41%
NP Margin | ROE -7.62%  |  -4.03%
F.Y. | Ann. Date 30-Jun-2020  |  24-Aug-2020

Annualized Result ( EPS: -3.10, P/E: -15.32 )

Revenue | NP to SH 646,504  |  -49,254
RPS | P/RPS 40.71 Cent  |  1.17
EPS | P/E | EY -3.10 Cent  |  -15.32  |  -6.53%
DPS | DY | Payout % -
NAPS | P/NAPS -
QoQ | YoY   -138.50%  |    -121.41%
NP Margin | ROE -7.62%  |  -4.03%
F.Y. | Ann. Date 30-Jun-2020  |  24-Aug-2020


Hints :
Click the QoQ or YoY on table to view the QoQ or YoY Financial Result page.

Click here to modify the Visible Columns.

Date Financial Result Financial Ratio Per Share Item Performance Valuation (End of Quarter) Valuation (Ann. Date)
F.Y. Ann. Date Quarter # Revenue PBT NP NP to SH Div Net Worth Div Payout % NP Margin ROE NOSH RPS Adj. RPS EPS Adj. EPS DPS Adj. DPS NAPS Adj. NAPS QoQ YoY EOQ Date EOQ Price EOQ P/RPS EOQ P/EPS EOQ P/NAPS EOQ EY EOQ DY ANN Date ANN Price ANN P/RPS ANN P/EPS ANN P/NAPS ANN EY ANN DY
30-Jun-2020 24-Aug-2020 30-Jun-2020 4 646,504 25,289 -49,254 -49,254 0 1,222,936 - % -7.62% -4.03% 1,588,228 40.71 40.71 -3.10 -3.10 0.00 0.00 0.7700 0.77   -140.82%   -121.41% 30-Jun-2020 0.615 1.51 -19.83 0.80 -5.04% 0.00% 24-Aug-2020 0.605 1.49 -19.51 0.79 -5.13% 0.00%
30-Jun-2020 19-May-2020 31-Mar-2020 3 844,078 271,962 120,664 120,664 0 1,365,876 - % 14.30% 8.83% 1,588,228 53.15 53.15 7.60 7.60 0.00 0.00 0.8600 0.86   -18.13%   -60.31% 31-Mar-2020 0.34 0.64 4.48 0.40 22.35% 0.00% 19-May-2020 0.605 1.14 7.96 0.70 12.56% 0.00%
30-Jun-2020 25-Feb-2020 31-Dec-2019 2 894,335 304,226 147,380 147,380 0 1,286,465 - % 16.48% 11.46% 1,588,228 56.31 56.31 9.28 9.28 0.00 0.00 0.8100 0.81   0.78%   -55.61% 31-Dec-2019 0.94 1.67 10.13 1.16 9.87% 0.00% 25-Feb-2020 0.88 1.56 9.48 1.09 10.54% 0.00%
30-Jun-2020 21-Nov-2019 30-Sep-2019 1 787,647 264,901 146,237 146,237 0 1,254,700 - % 18.57% 11.66% 1,588,228 49.59 49.59 9.21 9.21 0.00 0.00 0.7900 0.79   -36.42%   -50.08% 30-Sep-2019 0.955 1.93 10.37 1.21 9.64% 0.00% 21-Nov-2019 0.915 1.85 9.94 1.16 10.06% 0.00%
30-Jun-2019 20-Aug-2019 30-Jun-2019 4 988,303 391,467 230,010 230,010 0 1,238,818 - % 23.27% 18.57% 1,588,228 62.23 62.23 14.48 14.48 0.00 0.00 0.7800 0.78   -24.35%   12.91% 28-Jun-2019 1.07 1.72 7.39 1.37 13.53% 0.00% 20-Aug-2019 1.01 1.62 6.97 1.29 14.34% 0.00%
30-Jun-2019 27-May-2019 31-Mar-2019 3 935,861 439,174 304,038 304,038 0 1,207,053 - % 32.49% 25.19% 1,588,228 58.92 58.92 19.14 19.14 0.00 0.00 0.7600 0.76   -8.42%   167.60% 29-Mar-2019 1.07 1.82 5.59 1.41 17.89% 0.00% 27-May-2019 1.02 1.73 5.33 1.34 18.77% 0.00%
30-Jun-2019 19-Feb-2019 31-Dec-2018 2 785,160 438,774 331,992 331,992 0 1,159,407 - % 42.28% 28.63% 1,588,228 49.44 49.44 20.90 20.90 0.00 0.00 0.7300 0.73   13.34%   798.13% 31-Dec-2018 0.84 1.70 4.02 1.15 24.88% 0.00% 19-Feb-2019 1.05 2.12 5.02 1.44 19.91% 0.00%
30-Jun-2019 27-Nov-2018 30-Sep-2018 1 696,063 399,955 292,929 292,929 0 1,111,760 - % 42.08% 26.35% 1,588,228 43.83 43.83 18.44 18.44 0.00 0.00 0.7000 0.70   43.80%   700.40% 28-Sep-2018 1.26 2.87 6.83 1.80 14.64% 0.00% 27-Nov-2018 0.985 2.25 5.34 1.41 18.72% 0.00%
30-Jun-2018 29-Aug-2018 30-Jun-2018 4 394,344 244,467 203,712 203,712 0 1,000,584 - % 51.66% 20.36% 1,588,228 24.83 24.83 12.83 12.83 0.00 0.00 0.6300 0.63   79.30%   92.01% 29-Jun-2018 0.885 3.56 6.90 1.40 14.49% 0.00% 29-Aug-2018 1.10 4.43 8.58 1.75 11.66% 0.00%
30-Jun-2018 28-May-2018 31-Mar-2018 3 284,182 132,101 113,615 113,615 0 874,475 - % 39.98% 12.99% 1,589,956 17.87 17.89 7.15 7.15 0.00 0.00 0.5500 0.55   207.36%   -2.39% 30-Mar-2018 0.82 4.59 11.48 1.49 8.71% 0.00% 28-May-2018 0.875 4.90 12.24 1.59 8.17% 0.00%
30-Jun-2018 21-Feb-2018 31-Dec-2017 2 278,004 67,323 36,965 36,965 0 765,753 - % 13.30% 4.83% 1,531,506 18.15 17.50 2.41 2.33 0.00 0.00 0.5000 0.48   1.00%   -80.59% 29-Dec-2017 0.895 4.93 37.08 1.79 2.70% 0.00% 21-Feb-2018 0.965 5.32 39.98 1.93 2.50% 0.00%
30-Jun-2018 28-Nov-2017 30-Sep-2017 1 264,764 64,248 36,598 36,598 0 753,402 - % 13.82% 4.86% 1,477,260 17.92 16.67 2.48 2.30 0.00 0.00 0.5100 0.47   -65.51%   134.99% 29-Sep-2017 0.645 3.60 26.04 1.26 3.84% 0.00% 28-Nov-2017 0.715 3.99 28.86 1.40 3.46% 0.00%
30-Jun-2017 28-Aug-2017 30-Jun-2017 4 261,273 62,007 106,097 106,097 0 735,589 - % 40.61% 14.42% 1,442,333 18.11 16.45 7.36 6.68 0.00 0.00 0.5100 0.46   -8.85%   276.95% 30-Jun-2017 0.41 2.26 5.57 0.80 17.94% 0.00% 28-Aug-2017 0.425 2.35 5.78 0.83 17.31% 0.00%
30-Jun-2017 24-May-2017 31-Mar-2017 3 235,525 57,542 116,395 116,395 0 749,377 - % 49.42% 15.53% 1,441,111 16.34 14.83 8.08 7.33 0.00 0.00 0.5200 0.47   -38.87%   202.84% 31-Mar-2017 0.445 2.72 5.51 0.86 18.15% 0.00% 24-May-2017 0.43 2.63 5.32 0.83 18.78% 0.00%
30-Jun-2017 22-Feb-2017 31-Dec-2016 2 198,060 120,590 190,415 190,415 0 731,916 - % 96.14% 26.02% 1,407,531 14.07 12.47 13.53 11.99 0.00 0.00 0.5200 0.46   1,122.65%   193.01% 30-Dec-2016 0.41 2.91 3.03 0.79 33.00% 0.00% 22-Feb-2017 0.515 3.66 3.81 0.99 26.27% 0.00%
30-Jun-2017 25-Nov-2016 30-Sep-2016 1 136,194 -53,599 15,574 15,574 0 679,213 - % 11.44% 2.29% 1,358,426 10.03 8.58 1.15 0.98 0.00 0.00 0.5000 0.43   125.97%   130.40% 30-Sep-2016 0.195 1.94 17.01 0.39 5.88% 0.00% 25-Nov-2016 0.30 2.99 26.17 0.60 3.82% 0.00%
30-Jun-2016 24-Aug-2016 30-Jun-2016 4 81,694 -56,321 -59,960 -59,960 0 529,714 - % -73.40% -11.32% 1,177,142 6.94 5.14 -5.09 -3.78 0.00 0.00 0.4500 0.33   47.03%   8.11% 30-Jun-2016 0.18 2.59 -3.53 0.40 -28.30% 0.00% 24-Aug-2016 0.20 2.88 -3.93 0.44 -25.47% 0.00%
30-Jun-2016 31-May-2016 31-Mar-2016 3 33,808 -113,816 -113,186 -113,186 0 505,905 - % -334.79% -22.37% 1,099,795 3.07 2.13 -10.29 -7.13 0.00 0.00 0.4600 0.32   44.72%   -184.49% 31-Mar-2016 0.195 6.34 -1.89 0.42 -52.78% 0.00% 31-May-2016 0.185 6.02 -1.80 0.40 -55.63% 0.00%
30-Jun-2016 29-Feb-2016 31-Dec-2015 2 3,748 -204,672 -204,732 -204,732 0 432,545 - % -5,462.43% -47.33% 1,005,919 0.37 0.24 -20.35 -12.89 0.00 0.00 0.4300 0.27   -299.68%   -608.39% 31-Dec-2015 0.23 61.73 -1.13 0.53 -88.49% 0.00% 29-Feb-2016 0.18 48.31 -0.88 0.42 -113.07% 0.00%
30-Jun-2016 30-Nov-2015 30-Sep-2015 1 5,172 -51,149 -51,224 -51,224 0 600,893 - % -990.41% -8.52% 969,183 0.53 0.33 -5.29 -3.23 0.00 0.00 0.6200 0.38   21.50%   -475.10% 30-Sep-2015 0.675 126.49 -12.77 1.09 -7.83% 0.00% 30-Nov-2015 0.235 44.04 -4.45 0.38 -22.49% 0.00%
30-Jun-2015 26-Aug-2015 30-Jun-2015 4 7,098 -65,874 -65,250 -65,250 0 506,739 - % -919.27% -12.88% 921,344 0.77 0.45 -7.08 -4.11 0.00 0.00 0.5500 0.32   -64.00%   -601.46% 30-Jun-2015 0.745 96.70 -10.52 1.35 -9.51% 0.00% 26-Aug-2015 0.625 81.13 -8.83 1.14 -11.33% 0.00%
30-Jun-2015 28-May-2015 31-Mar-2015 3 8,775 -41,409 -39,786 -39,786 0 520,632 - % -453.40% -7.64% 897,642 0.98 0.55 -4.43 -2.51 0.00 0.00 0.5800 0.33   -37.66%   -432.13% 31-Mar-2015 0.765 78.26 -17.26 1.32 -5.79% 0.00% 28-May-2015 0.715 73.14 -16.13 1.23 -6.20% 0.00%
31-Dec-2014 27-Feb-2015 31-Dec-2014 2 13,038 -30,538 -28,901 -28,901 0 506,254 - % -221.67% -5.71% 888,166 1.47 0.82 -3.25 -1.82 0.00 0.00 0.5700 0.32   -224.48%   -299.37% 31-Dec-2014 0.85 57.90 -26.12 1.49 -3.83% 0.00% 27-Feb-2015 0.92 62.67 -28.27 1.61 -3.54% 0.00%
31-Dec-2014 27-Nov-2014 30-Sep-2014 1 17,439 -11,689 -8,907 -8,907 0 463,849 - % -51.08% -1.92% 813,771 2.14 1.10 -1.09 -0.56 0.00 0.00 0.5700 0.29   -168.45%   -434.98% 30-Sep-2014 1.45 67.66 -132.48 2.54 -0.75% 0.00% 27-Nov-2014 1.06 49.46 -96.84 1.86 -1.03% 0.00%
31-Dec-2014 26-Aug-2014 30-Jun-2014 2 18,312 10,925 13,012 13,012 0 366,627 - % 71.06% 3.55% 547,204 3.35 1.15 2.38 0.82 0.00 0.00 0.6700 0.23   8.62%   201.28% 30-Jun-2014 1.61 48.11 67.71 2.40 1.48% 0.00% 26-Aug-2014 1.55 46.32 65.18 2.31 1.53% 0.00%
31-Dec-2014 26-May-2014 31-Mar-2014 1 19,324 10,584 11,979 11,979 0 369,199 - % 61.99% 3.24% 520,000 3.72 1.22 2.30 0.75 0.00 0.00 0.7100 0.23   -17.36%   385.42% 31-Mar-2014 1.88 50.59 81.61 2.65 1.23% 0.00% 26-May-2014 1.62 43.59 70.32 2.28 1.42% 0.00%
31-Dec-2013 24-Feb-2014 31-Dec-2013 4 15,657 13,405 14,496 14,496 0 358,698 - % 92.58% 4.04% 491,368 3.19 0.99 2.95 0.91 0.00 0.00 0.7300 0.23   445.17%   299.56% 31-Dec-2013 1.75 54.92 59.32 2.40 1.69% 0.00% 24-Feb-2014 2.11 66.22 71.52 2.89 1.40% 0.00%
31-Mar-2014 20-Nov-2013 30-Sep-2013 3 11,211 2,678 2,659 2,659 0 271,870 - % 23.72% 0.98% 453,118 2.47 0.71 0.59 0.17 0.00 0.00 0.6000 0.17   120.70%   134.69% 30-Sep-2013 1.86 75.18 316.96 3.10 0.32% 0.00% 20-Nov-2013 1.95 78.81 332.30 3.25 0.30% 0.00%
31-Mar-2014 21-Aug-2013 30-Jun-2013 1 10,037 -12,854 -12,847 -12,847 0 239,424 - % -128.00% -5.37% 443,378 2.26 0.63 -2.90 -0.81 0.00 0.00 0.5400 0.15   -206.10%   -136.55% 28-Jun-2013 1.44 63.61 -49.70 2.67 -2.01% 0.00% 21-Aug-2013 1.50 66.26 -51.77 2.78 -1.93% 0.00%
31-Mar-2013 23-May-2013 31-Mar-2013 1 8,516 -3,930 -4,197 -4,197 0 240,472 - % -49.28% -1.75% 437,222 1.95 0.54 -0.96 -0.26 0.00 0.00 0.5500 0.15   42.22%   14.05% 29-Mar-2013 1.49 76.50 -155.22 2.71 -0.64% 0.00% 23-May-2013 1.53 78.55 -159.39 2.78 -0.63% 0.00%
31-Mar-2013 25-Feb-2013 31-Dec-2012 3 9,376 -7,131 -7,264 -7,264 0 236,936 - % -77.47% -3.07% 438,771 2.14 0.59 -1.66 -0.46 0.00 0.00 0.5400 0.15   5.24%   -35.57% 31-Dec-2012 1.41 65.98 -85.17 2.61 -1.17% 0.00% 25-Feb-2013 1.49 69.73 -90.00 2.76 -1.11% 0.00%
31-Mar-2013 30-Sep-2012 2 9,538 -7,273 -7,666 -7,666 0 237,932 - % -80.37% -3.22% 440,615 2.16 0.60 -1.74 -0.48 0.00 0.00 0.5400 0.15   -41.15%   -210.62% 28-Sep-2012 1.76 81.30 -101.16 3.26 -0.99% 0.00% 0.00 0.00 0.00 0.00 0.00% 0.00%
31-Mar-2013 30-Jun-2012 1 9,867 -4,921 -5,431 -5,431 0 0 - % -55.04% - % 426,071 2.32 0.62 -1.27 -0.34 0.00 0.00 0.0000 0.00   -11.22%   - % 29-Jun-2012 1.51 65.20 -118.46 0.00 -0.84% 0.00% 0.00 0.00 0.00 0.00 0.00% 0.00%
31-Mar-2012 31-Mar-2012 4 7,961 -4,357 -4,883 -4,883 0 6,738,666 - % -61.34% -0.07% 12,033,333 0.07 0.50 -0.04 -0.31 0.00 0.00 0.5600 4.24   8.87%   - % 30-Mar-2012 1.65 2,494.03 -4,066.15 2.95 -0.02% 0.00% 0.00 0.00 0.00 0.00 0.00% 0.00%
31-Mar-2012 31-Dec-2011 3 4,803 -5,012 -5,358 -5,358 0 - - % -111.56% - % 420,724 1.14 0.30 -1.27 -0.34 0.00 0.00 - -   -117.10%   - % 30-Dec-2011 0.94 82.34 -73.81 0.00 -1.35% 0.00% 0.00 0.00 0.00 0.00 0.00% 0.00%
31-Mar-2012 30-Sep-2011 2 2,307 -2,371 -2,468 -2,468 0 7,261,800 - % -106.98% -0.03% 12,740,000 0.02 0.15 -0.02 -0.16 0.00 0.00 0.5700 4.57   - %   - % 30-Sep-2011 0.55 3,037.28 -2,839.14 0.96 -0.04% 0.00% 0.00 0.00 0.00 0.00 0.00% 0.00%

PBT = Profit before Tax, NP = Net Profit, NP to SH = Net Profit Attributable to Shareholder, Div = Dividend, NP Margin = Net Profit Margin, ROE = Return on Equity, NOSH = Number of Shares, RPS = Revenue per Share, EPS = Earning Per Share, DPS = Dividend Per Share, NAPS = Net Asset Per Share, EOQ = End of Quarter, ANN = Announcement, P/RPS = Price/Revenue per Share, P/EPS = Price/Earning per Share, P/NAPS = Price/Net Asset per Share, EY = Earning Yield, DY = Dividend Yield.


NOSH is estimated based on the NP to SH and EPS. Div is an estimated figure based on the DPS and NOSH. Net Worth is an estimated figure based on the NAPS and NOSH.

Div Payout %, NP Margin, ROE, DY, QoQ Δ & YoY Δ figures in Percentage; RPS, EPS & DPS's figures in Cent; and NAPS's figures in Dollar.

All figures in '000 unless specified.


Trade this stock with 3 x trading limit. Find out more.
  55 people like this.
 
twynstar Resource from HLIB

Q&A on the CRPS ( 1 )

1) Does the CRPS exercise require EGM approval from common shareholders?

Yes. Targeting approval in early November.

2) Would there be another EGM on asset acquisition?

Yes. Another EGM would be held for the approval of the proposed acquisition.

3) Would the CRPS holders be able to vote against any asset acquisition and if they vote no, would they be able to recoup their money at a fixed interest rate of 4% p.a.?

Only common shareholders will have voting rights with regards to asset acquisitions. CRPS holders would not have any voting rights on the said matter. CRPS holders would only be able to re-coup its investments at an interest rate of 4% p.a. if the proceeds raised are not utilized for asset acquisition. We believe that there would be
adequate and fair check and balances as we believe that common shareholders would not support an asset acquisition which they deem to be value dilutive. Any unutilized proceeds raised would be paid back to CRPS holders at the aforementioned annual interest rate.

4) In the event where they (Hibiscus) do not utilize the proceeds from the CPRS, how are they going to raise the money for the interest due from the CRPS?

The proceeds would be first parked under an Islamic trust account upon the subscription of the CRPS. If the Company raises RM2bn and fails to acquire any asset after 2 years, Hibiscus would have to repay c.RM80m in interest (4% p.a.) back to CRPS holders. Part of this interest due would be generated from the Islamic trust account while the balance would have to come from its internal cash reserves.

5) Why should existing shareholders vote to approve the CRPS exercise?

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.

6) Wouldn’t potential CRPS holders wait for the second tranche, with the possibility that they would be able to get their CRPS at a lower conversion price?

The management is confident that it has already identified the assets that it would like to acquire and it will fall within its investment hurdle rates. The management believes that the acquisition would be value accretive for CRPS holders despite the current conversion premium and there would still be a lot of interest with regards to the
subscription of the CRPS. Investors might miss out on the opportunity to invest in the CRPS if the first tranche of the CRPS is fully subscribed (as there will be no second tranche if this happens).

7) How big would the asset size be and how many assets are Hibiscus looking to acquire?

Hibiscus has identified 1-3 assets with a combined value of RM2bn or more (asset will be financed through debt for any value exceeding RM2bn), which is at least c.6x the combined acquisition value of North Sabah and Anasuria (c.RM320m).
20/10/2020 9:43 PM
twynstar Resource from HLIB

Q&A on the CRPS ( 2 )

8) What would happen to investment returns if the price of the proposed asset acquisition exceeds RM2bn?

Hibiscus intends to finance any amount exceeding RM2bn via debt. Hence, common shareholders would potentially have a higher net IRR on its investment as the 12% IRR hurdle rate is based on project IRR (e.g. if total acquisition cost: RM3bn, D/E: ½, CoD: 4%, its equity IRR would be at least 16% as the hurdle rate for project IRR is
12%.)

9) What is the long-term oil price assumption used on its investment decisions?

Hibiscus’ has a Brent oil price forecast of USD40/bbl for CY20 and c.USD45-50/bbl for CY21-25. The long-term Brent oil price forecast is based on Brent oil futures from the Intercontinental Exchange (ICE).

10) What is the estimated economic life of assets acquired?

While Hibiscus would need to acquire a producing asset, we believe that the new acquisition would have a moderate to long useful life. Hibiscus would not acquire any asset which is close to the end of its economic life.

11) Would Hibiscus be able to successfully deliver on its new asset, in the event that it successfully utilizes all of its proceeds for asset acquisition?

Hibiscus has had a strong record with regards to the operations of PSCs. This can be seen through the strong operational performance of both its Anasuria and North Sabah assets. Hibiscus has managed to maintain an opex/bbl of below USD15/bbl for its North Sabah field and below USD20/bbl for its Anasuria field in FY20 despite challenging economic conditions. Hibiscus has also won 3 awards from the Malaysia Upstream Awards 2020: (i) Best Emerging Production Arrangement Contract, (ii) Gold award for wells excellence category and (iii) Bronze award for drilling excellence category. While we cannot assume that the new asset would do just as well Anasuria and North Sabah, its track record for the aforementioned fields can possibly provide some good assurance towards the operational performance of its new assets.

12) What is management’s commitment towards the take-up of the CRPS?

Dr. Kenneth (CEO & Founder) has pledged to subscribe a minimum of 8m and up to 50m of CRPS at an issue price of RM1.00 per CRPS. We believe that the allotment to Dr. Kenneth is expected to strengthen the alignment of interests between the management and shareholders of the Company.
20/10/2020 9:47 PM
linheng Assuming that the CPRS is fully subscribed and the assets acquired,
the producing assets will be 7X, but at current share price the minority share holders who can sell the shares are very few. CPRS is converted at 66 cents. Assuming current shareholders price is on the average of 56 cents there should be minimum resistance to the share price from current to 66 cents.
Hope to see this scenario soon when oil price spike, but hopefully after the completion of the CPRS and the acquisition of the assets.
21/10/2020 5:43 AM
linheng 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.
21/10/2020 5:46 AM
Newbn00b I really hope those big sharks go ahead finish off first trench else thing will get ugly.
21/10/2020 7:09 AM
micsoh 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.
21/10/2020 9:19 AM
Miz Raya Bloom Post removed. Why?
21/10/2020 9:36 AM
micsoh **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.
21/10/2020 10:24 AM
Dericlock 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
21/10/2020 10:28 AM
micsoh 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.
21/10/2020 10:37 AM
Dericlock 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
21/10/2020 10:57 AM
micsoh 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
21/10/2020 11:20 AM
micsoh 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.
21/10/2020 11:31 AM
Newbn00b 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
21/10/2020 1:15 PM
DragonG 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
21/10/2020 1:43 PM
DragonG The above was sent to the shareholders' personal email.
21/10/2020 1:44 PM
Dericlock @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).
21/10/2020 3:01 PM
Dericlock 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?
21/10/2020 3:04 PM
micsoh 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.
21/10/2020 3:38 PM
hendrycheah 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.
21/10/2020 3:40 PM
micsoh 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.
21/10/2020 3:53 PM
Dericlock @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.
21/10/2020 4:10 PM
micsoh 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?
21/10/2020 4:15 PM
Dericlock 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
21/10/2020 4:15 PM
Dericlock @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)
21/10/2020 4:18 PM
micsoh 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.
21/10/2020 4:28 PM
Newbn00b 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.
21/10/2020 5:09 PM
TillyLovers Hi, between Hibiscus and Bumi Armada, which one is better?
22/10/2020 5:20 PM
mariner06lai It is question of asking comparation between orange and apple even both of them are categorized as fruit.
22/10/2020 7:13 PM
NPRA1985 waiting for it to drop to 18c
25/10/2020 1:41 AM
Winner128 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.....
26/10/2020 10:47 AM
hendrycheah wow..hibi is darn solid..wont budge no matter what happen..just linger around 490 to 500
26/10/2020 1:11 PM
micsoh Mostly this time is the last wave of covib infection, next year I think is a good year for economy and oil market.
28/10/2020 12:49 PM
Loh Kok Wai W all oil counters price will be drop .........like MAY.
28/10/2020 8:24 PM
Dave92 Biden like green energy...
Oil counter better avoid.
Sell.
28/10/2020 9:42 PM
mf Dow Jones 26,963.221 -499.97 1.82%
Nasdaq 11,187.07 -244.286 2.14%
28/10/2020 9:44 PM
jolow sohai mf
28/10/2020 10:15 PM
Catlim69 Lol all lock down ... no one use oil
28/10/2020 10:39 PM
OKU_2020 Bloody oil market - Brent now collapsed to below USD 40
29/10/2020 12:20 AM
NPRA1985 Biden looks like going to win. What will be the impact if he wins?
29/10/2020 12:58 AM
hendrycheah 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?
29/10/2020 12:14 PM
AllYouCanBuy 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.
29/10/2020 12:57 PM
AllYouCanBuy Definitely must go green for the sake of the Earth. But it doesn't happen overnight!
29/10/2020 12:59 PM
Fish herman 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
29/10/2020 3:37 PM
Loh Kok Wai W oil price 35.80 now.....will drop below 30.00 ?
29/10/2020 8:11 PM
abang_misai still ok what? I expect oil to revisit USD10 soon.
29/10/2020 8:21 PM
OKU_2020 OIl collapsed to USD 37....the worst is comingg
tanking around 11 %
29/10/2020 8:52 PM
Newbn00b 0.40 is not far away. But I have no more bullet. What a pity
29/10/2020 9:20 PM
Catlim69 Buy more. Limit up once vaccines out
29/10/2020 9:32 PM
emil after US election, ....US will announce full lockdown again...Oil price will drop to US$15
29/10/2020 10:27 PM