Hi guys,
I watch with Awe & Horror that Perdana with all its Insolvent debt could go LIMIT UP?
See (Refer to PERDANA Latest Quarterly Report
(ii) Corporate Debt Restructuring Committee (“CDRC”) On 4 July 2018, the Company announced that the Corporate Debt Restructuring Committee (“CDRC”) of Bank Negara Malaysia has granted approval on the Company’s application for assistance to mediate between the Company and some of its subsidiaries (the “Applicant Company/Companies”) with their financial institutions and Sukukholders (the “Lenders”). This admission to CDRC is consistent with the Company’s strategy to streamline its operations and optimise its financial resources to focus on and proactively enhance its offshore marine support services segment. It is a follow-on from the Company’s previous successful cost rationalised initiative which has had a positive impact on the Company’s financials.
The Company received approval from CDRC on 2 July 2018 (“CDRC Approval Letter”) subject to the following conditions: a) The Company is required to submit a Proposed Debt Restructuring Scheme (“PDRS”) within sixty (60) days from the date of the CDRC Approval Letter; b) The Company’s admission is limited to twelve (12) months or upon signing of a debt restructuring agreement, whichever is earlier; and c) The PDRS must comply with the CDRC’s restructuring principles for the Company to continue to remain under the Standstill arrangement with the Lenders.
The Standstill Letter was issued by CDRC to the Lenders of the Applicant Companies on 2 July 2018. CDRC, which is under the purview of Bank Negara Malaysia, will mediate between Applicant Companies and their respective Financiers to renegotiate their respective financing facilities that can be sustained in the face of this challenging period for the oil and gas industry, in line with the above conditions. This successful mediation would enable the Companies to be better positioned to raise new financing and capital in the future and sustain their operations and underlying viability going forward.
22. Corporate Proposals (Cont’d) (ii) Corporate Debt Restructuring Committee (“CDRC”) (Cont’d) The Company is exploring various options for the PDRS, including but not limited to extension of tenure of borrowings, disposal of assets, special issue or placement of shares and rights issue. Depending on the scheme eventually accepted by not less than 75% by value of the Lenders, there may be a need to further impair the Group’s non-financial assets (except inventories and deferred tax assets) to their fair value less costs to sell, if lower than their carrying amount.
As the Company is still exploring the various debt restructuring options, it is unable to provide further details at this stage. On 30 August 2018, the Company has sought an extension of time of thirty (30) days to submit the PDRS from 1 September 2018. On 10 October 2018, the Company has conducted its first CDRC meeting and presented a draft PDRS to the Lenders. Subsequently on 15 November 2018, a second CDRC meeting has taken place to provide further updates and details of the debt settlement scheme.
On 28 January 2019, a third CDRC meeting is held to provide milestone updates and proposed scheme enhancement to all Lenders. Further details on the debt restructuring option agreeable to the Lenders will be provided at the appropriate time. Barring any unforeseen circumstances, the CDRC program is expected to complete within 18 months from the date of admission, i.e, 2 July 2018. Save for the above, there were no other corporate proposals announced but not completed as at 15 February 2019, being the latest practicable date not earlier than 7 days from the date of issue of this interim report.
WITH HEAVY DEBT FULLY LOADED ON PERDANA SIMPLETON BLINDLY CHASED PERDANA INTO LIMIT UP
EVEN INSIDERS/DIRECTORS OF PERDANA ARE THROWING & RUNNING AWAY FAST FAST
See
SO DON'T BE THE SORCHAI WHO LATER GET TRAPPED KAW KAW IN PERDANA LATER IF IT GOES INTO PN17 AND SUSPENSION
NOW THESE ARE THE SALIENT FACTORS FOR DESTINI (NOTE: Calvin has no heart to seek quarrel with anyone who might disagree in this Time of O&G Bull Run Time) Only Go in with BOTH EYES WIDE OPEN OK
Or else like those who foolish sailang in Hengyuan at Rm19.00 Then Get Caught Later!!
WHY DESTINI IS SO GOOD?
1) DESTINI HAS CLEAN BALANCE SHEET. ITS DEBTS ARE MANAGEABLE & LONGER TERM TENURE
2) DESTINI HAS THE ABILITY TO LAND JOBS IN BOTH GOOD & BAD TIMES. AND ALSO ACROSS DIVERSIFIED INDUSTRIES. ITS MANAGEMENT HAS EXCEPTIONAL SKILL (EVEN WITHOUT HWUs LIKE VELESTO THEIR MAN POWER SKILL IS EXCEPTIONAL
AND SEE THEIR JOBS AWARDED
A10. Significant Events During The Financial Quarter During the financial period, the following significant events took place for the Company and its subsidiaries:
1. Destini Oil Services Sdn Bhd, a wholly-owned subsidiary of Destini, had on 10 November 2017, entered into a joint venture and shareholders agreement with Federal Hardware Engineering Co. Pte Ltd, a wholly-owned subsidiary of Federal International, a publicly listed company on the Mainboard of the Singapore Stock Exchange, for the purpose of, amongst others, undertaking the business of oil and gas activities leading into drilling and related services, well intervention services, offshore greenfield development and decommissioning services in the South Asia and South-East Asia region, via a joint venture company, to be incorporated in the Republic of Singapore within one month from the date of completion of the JV Agreement
The JV Company by the name “Federal Destini (S) Pte Ltd” has been duly incorporated in the Republic of Singapore on 15 January 2018 with the shareholdings structure as follows:
2. Destini Oil Services Sdn Bhd, a wholly-owned subsidiary of Destini, has been awarded an umbrella contract for the provision of well abandonment integrated services for PETRONAS Carigali Sdn Bhd, via a letter of award dated 29 March 2018.
PETRONAS Carigali Sdn Bhd has awarded Destini Oil Services Sdn Bhd, a conditional work order award dated 2 July 2018 for the Provision of Well Abandonment Integrated Services for Pulai-B. the value of the Work Order is approximately USD 5 million or equivalent to RM20.2 million.
3. Destini Engineering Technologies Sdn Bhd, a wholly-owned subsidiary of Destini, had on 10 April 2018, entered into a memorandum of understanding (“MOU”) with Felcra Processing & Engineering Sdn Bhd. The MOU to provide, amongst others, maintenance, repair and overhaul (MRO) services for industrial facilities and equipment for the agriculture and related industries within Malaysia and the ASEAN region.
4. Destini Prima Sdn Bhd, a wholly-owned subsidiary of Destini, had on 19 April 2018, accepted a letter of award from Ministry of Defence Malaysia for an additional RM138.0 million (including the Goods and Services Tax) to the existing contract to provide maintenance, repair and overhaul services and the supply of safety and survival equipment to the Royal Malaysian Air Force. The Letter of Award is an addition to the Contract ceiling
5. Destini Oil Services Sdn Bhd, a wholly-owned subsidiary of Destini, had on 22 May 2018, received a letter of award as a technical partner from Lyallpur Oil Tool Pvt Ltd for the tubular running services in Pakistan. The Letter of Award is estimated to have a gross value of approximately United States Dollar 8.0 million (equivalent to approximately RM31.76 million as at 22 May 2018).
6. Destini Berhad on 5 June 2018 incorporated a new wholly-owned subsidiary company with the name “DESTINI EMPIRE PROPERTIES SDN. BHD. ” (Company No. 1282448-U) (“DEP”) with the issued share capital of RM1.00 only. The intended principal activity of DEP is to acquire by purchase, lease, exchange, hire or otherwise, lands and property of any tenure, buildings, or any share or shares, interest or interests therein. The incorporation of DEP is not expected to have any material effects on the earnings per share, net assets per share, gearing, share capital and substantial shareholders’ shareholdings of Destini for the financial year ending 31 December 2018. The incorporation of DEP is not subject to the approval of the shareholders of the Company
7. PETRONAS Carigali Sdn Bhd has awarded Destini Oil Services Sdn Bhd, a conditional work order award dated 2 July 2018 for the Provision of Well Abandonment Integrated Services for Pulai-B. The value of the Work Order is approximately USD 5 million or equivalent to RM20.2 million.
8. Destini Oil Services Sdn Bhd, a wholly-owned subsidiary of Destini, had on 8 August 2018, received a contract award from PDC for the provision of tubular running services in the Union of Republic of Myanmar The value of the Contract is estimated at USD5.2 million.
9. Destini Oil Services Sdn Bhd, a wholly-owned subsidiary of Destini, had received a letter of award on 7 November 2018 for the Provision of Tubular Handling, Conductor Installation and Slot Recovery Equipment and Services for PAC Operators’ Drilling Program for PETRONAS Carigali Sdn Bhd (“PETRONAS Carigali”).
THE ABOVE UNBROKEN STRING OF AWARDS IS A TESTIMONY OF DESTINI SUPERIOR SKILLS ACROSS A DIVERSIFIED INDUSTRIES & DISCIPLINES
AND THESE ARE THE LATEST JOB AWARDS THIS YEAR
1. Destini Prima Sdn Bhd, a wholly-owned subsidiary of Destini, had on 4 January 2019, received a letter of extension dated 28 December 2018 (“Letter of Extension”) from the Ministry of Home Affairs to provide maintenance, repair and overhaul services, technical assistance and supply of spares related to safety and survival equipment, ground support and mechanical equipment, electronic equipment, airborne multisensor system and flight operations equipment for the Pasukan Gerakan Udara, Royal Malaysia Police for a further period of three (3) years from 30 November 2018 and expiring on 29 November 2021. The contract ceiling remains at RM10.0 million
2. Destini Oil Services Sdn Bhd, a wholly-owned subsidiary of Destini, had on 14 January 2019 received a letter of award for the provision of tubular running services for exploration & appraisal and infill drilling campaign for Block B-17 & C-19 and Block B-17-01 located at the lower part of Gulf of Thailand near the South China Sea for Carigali-PTTEPI Operating Company Sdn Bhd.
AND DIRECTORS/INSIDERS ARE SO CONFIDENT WITH THIS COMPANY THAT THEY HAVE BOUGHT DESTINI SHARES THROUGH GOOD & TOUGH TIMES FOR AS HIGH AS 85 SEN
See
DATO' ROZABIL @ ROZAMUJIB BIN ABDUL RAHMAN | 28-Sep-2016 | Acquired | 15,700 | 0.823 |
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DATO' ROZABIL @ ROZAMUJIB BIN ABDUL RAHMAN | 20-Sep-2016 | Acquired | 50,000 | 0.850 |
SOME HAVE QUESTIONED SINCE DESTINI SHARE PRICE ALREADY SPIKED UP IT IS NOW TOO DANGEROUS TO CHASE
THIS SAME CAUTION WAS MENTIONED TO CALVIN WHEN I CALLED FOR A BUY ON PENERGY AFTER IT HAD GONE LIMIT UP FROM 42 SEN
I TOLD THEM PENERGY WILL STILL GO UP HIGHER FROM 70 SEN. AND I WAS CHUN CHUN.
PENERGY WENT UP TO CROSS RM1.20 (I think Penergy still got more upside)
CALVIN THINKS SINCE DESTINI SHARE PRICE CAME DOWN FROM 85 SEN IN TOUGH TIMES. NOW THAT IT IS SEEING GOOD TIMES AGAIN DESTINI IS DESTINED TO RETURN BACK TO ITS GLORY DAYS JUST LIKE CARIMIN, DAYANG, NAIM & PERDANA
CALVIN HAS A TARGET PRICE FOR DESTINI AT 60 SEN (ABOUT SLIGHTLY LESS THAN100% UPSIDE)
BEST REGARDS
Calvin Tan Research
Singapore
Please by or sell after doing your own due diligence
Chart | Stock Name | Last | Change | Volume |
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Created by calvintaneng | Aug 03, 2024
Created by calvintaneng | Aug 02, 2024
All oil and gas stocks will eventually go higher
Only those hobbled by high debt and insolvency might take longer time.
A few gone case might not make it
So stay very safe in those with clean balance sheet and those back by huge injection of cash funds from large institution like sapnrg and velesto mah...!!
Raider best choice SAPNRG is very clean and very safe
Can buy
Lock it away
Come back 3 year later
AND surprise!!
SAPNRG might go over Rm3.00....the biggest stock gain in your lifetime loh......!!
Please don missed this wonderful opportunity mah....!!
2019-03-14 22:05
Dap dapat ap?
Forget politic loh
Calvin and buddies are counting bundles and bundles of profits garnered in this super oil and gas bull run time
Don't waste precious time and opportunity any more
Tomorrow go whack Destini
NO money?
Then sell your plantation, property, export stocks and switch all into oil and gas like Destini
So many of Calvin's buddies are selling stale stocks and kept switching and switching into velesto, penergy. T7 global and now Destini
Destini is destined to make all very wealthy who buy it
2019-03-14 23:06
Gambateh everyone of us all abroad the night train. Destiny to the treasure!!
2019-03-14 23:47
My biggest investment: Orion
https://klse.i3investor.com/blogs/KYY/197939.jsp
2019-03-14 23:51
Stick strictly to oil and gas stocks for now
THE super charged stocks powered by Petronas are the ones to focus chun chun on target
Don't stray outside the target
Tomorrow is destini
2019-03-15 00:30
REMEMBER THIS VERY IMPORTANT ADVICE FOR YOUR SUCCESSFUL FORAY TO HUGE MARKET GAIN THAT U NEVER HEARD OF LOH....!!
STAY ON COURSE IS VERY IMPORTANT MAH....!!
2019-03-15 00:34
market soooo bullish, everybody no talk up anymore. everybody talk "limit up" now
2019-03-15 09:27
Hahaha
I just discovered
Destini is also used as female name like Dayang & Penergy
So the challenge of Contest
Ms Destini
Ms Princess (dayang)
Ms Rock (Penergy)
2019-03-15 11:09
See the meanings for Destini
!) English Meaning: The name Destini is an English baby name. In English the meaning of the name Destini is: Certain fortune; fate.
SO DESTINI Means "CERTAIN FORTUNE"
2) Urban Dictionary: Destini
https://www.urbandictionary.com/define.php?term=Destini
... make up shit about her because they are jealous they aren't as beautiful as Destini. ... Top definition. Destini ... Guy 1: "Damn I want to ask Destini out"
Destini is used as a Female name
3) Destini Name Meaning & Origin | Baby Name Wizard
www.babynamewizard.com/baby-name/girl/destini
Meaning of the name Destini: Derived from the vocabulary word destiny (fate).
The word "destini" is derived from the word "DESTINY" Which means "fate"
SO IS IT FATED FOR THOSE WHO FAVOUR DESTINI AND IN TURN RECEIVE "CERTAIN FORTUNE"?
OR IS IT ALSO FATED FOR NAYSAYERS AND DOUBTERS WHO GET NOTHING IN DESTINI PRICE RISE. Are they fated to be poor and jealous?
DESTINI
1) CERTAIN FORTUNE
2) Ms DESTINI
3) DESTINY OR FATE
WHICH DO YOU WANT???
2019-03-15 11:17
My T7 at 0.49
Penergy 0.73
Velesto 0.28
Masteel 0.48
All hoseh... those naysayer ....come on...prove yr result rather than criticize calvin. Savior.
2019-03-16 13:24
Don't be misled.
DESTINI Financial Information
Market Capital (RM): 363.90m
Number of Share: 1.155b
EPS (cent): 0.16 *
P/E Ratio: 196.88
ROE (%): 0.36
Dividend (cent): 0.000
Dividend Yield (%): 0.00
NTA (RM): 0.441
Par Value (RM): 0.100
https://www.malaysiastock.biz/Corporate-Infomation.aspx?securityCode=7212
2019-03-16 15:41
Peter Lynch said there are 6 Classes of Stocks
1) Slow growth
2) Fast growth
3) Stalwarts
4) Asset Play
5) Turnaround
6) CYCLICALS
Oil & Gas Stocks ESPECIALLY DESTINI IS INSIDE THE CYCLICALS INDUSTRY
I shall explain more this afternoon
You don't value a Cyclical by past few months or even years
YOU VALUE A CYCLICAL BY THE IMMEDIATE & IMMEDIATE FUTURE OPPORTUNITY
2019-03-16 16:05
There are 2 Very Successful SUFUs who Taught Calvin about Investing in Cyclicals
Both Peter Lynch & Marks Howard are GIANTS In Their Field
Peter Lynch by Investing in 6 Classes of Stocks Including CYCLICALS Like Destini types of Stock, for example, have even beaten Warren Buffet
See
https://alphaarchitect.com/2017/02/08/greatest-stock-picker-of-all-time-buffett-or-lynch/
https://www.valuewalk.com/2015/08/peter-lynch-bio/
2019-03-16 16:18
What are Cyclicals?
‘Cyclicals’, according to Peter Lynch are the companies whose revenues and profits are in tandem with the state of the economy with their performance being tied to the business cycle.
They can be classified under two categories:
Rate sensitive sectors – These are the businesses which are primarily affected by the interest rates prevailing in the economy and thus any contraction or expansion in economy consequently affects them. Auto companies, banks and capital goods fall under this category.
Commodity based sectors – Earnings and cash flow of these businesses are dependent on the demand –supply of their products/raw materials leading to the final price of the product. During expansion, there is increase in demand, resulting in business expansion; whereas in the times of recession, the demand gets subdued, leading to business contraction. Metals & Mining, sugar and cement companies follow these patterns.
Cyclicals, thus, suffer huge losses during recessions, often finding it hard to survive till the next boom. But, when things do start to change for the better, dramatic swings from losses to profits can often surpass expectations. It is to be noted that rise and fall in profit of cyclicals usually depends on various regulative and administrative policies.
Calvin comments:
Destini being in Oil & Gas business is also a Cyclical
In bad times earnings evaporate
In Boom Times like Now Earnings Explode Upward
2019-03-16 16:39
Investing in cyclicals is akin to travelling on a sine wave. One needs to invest in stocks at the trough and get out of investment at the peak of sine wave. Each cycle has a downside, during which prices dip and an upside, during which prices rise to their highest. The depth of the trough and the height of the peak, the duration of downside and the duration of upside may vary for different cycles, but the overall downside, peak and upside are more or less same for most cycles. This downside and upside pattern repeats itself many times for a majority of the cyclical stocks. One has to take advantage of this repetition and buy on the ‘upside’. The approach is quite simple; however, successful cyclical investing requires careful timing.
How to invest in Cyclical?
Before selecting a cyclical stock, it makes sense to pick an industry that is due for a revival.
Peter Lynch
Oil & Gas Stocks are now in Vogue
So the TIMING TO BUY NOW IS CHUN CHUN
2019-03-16 16:43
In investing, as in life, there are very few sure things. Values can evaporate, estimates can be wrong, circumstances can change and “sure things” can fail. However, there are two concepts we can hold to with confidence:
Rule Number One: Most things will prove to be cyclical
Rule Number Two: some of the greatest opportunities for gain and loss come when other people forget rule number one
Very few things move in a straight line. There’s progress and then there’s deterioration. Things go well for a while and then poorly. Progress may be swift and then slow down. Deterioration may creep up gradually and then turn climactic. But the underlying principle is that things will wax and wane, grow and decline. The same is true for economies, markets and companies: they rise and fall.
The basic reason for the cyclicality in our world is the involvement of humans. Mechanical things can go in a straight line. Time moves ahead continuously. So can a machine when it’s adequately powered. But processes in fields like history and economics involve people, and when people are involved, the results are variable and cyclical. The main reason for this, I think, is that people are emotional and inconsistent, not steady and clinical.
Objective factors do play a large part in cycles, of course— factors such as quantitative relationships, world events, environmental changes, technological developments and corporate decisions. But it’s the application of psychology to these things that causes investors to overreact or underreact, and thus determines the amplitude of the cyclical fluctuations."
Marks Howard
2019-03-16 16:46
I like these words from Great Sifu Howard Marks (Mastering the Cyclicals)
Rule Number One: Most things will prove to be cyclical
Rule Number Two: some of the greatest opportunities for gain and loss come when other people forget rule number one
Calvin comments:
Howard Marks chun chun timing on buying Cyclicals at their bottom
Listen again to Howard Marks words again
"""This downside and upside pattern repeats itself many times for a majority of the cyclical stocks. One has to take advantage of this repetition and buy on the ‘upside’. The approach is quite simple; however, successful cyclical investing requires careful timing."""
"""SUCCESSFUL CYCLICAL INVESTING REQUIRS CAREFUL TIMING"""
TIMING!! TIMING!!! TIMING!!! IS THE KEY WORD HERE!!!
SO NOW IS THE CHUN CHUN TIME TO BUY DESTINI AS ITS FORTUNE IS TURNING AROUND!!!
BAD TIMES AND BAD O&G CYCLES OVER. NO MORE CRUDE AT USD27
NOW BRENT CRUDE PRICE MORE THAN DOUBLED TO USD66 to USD67
SO DESTINI IS DESTINED TO SEE BETTER DAYS AHEAD
GOOD TIMES LEAD TO GREAT REVENUES & PROFIT
And Warren Buffet said, "IF A COMPANY BUSINESS DOES WELL ITS SHARE PRICE WILL FOLLOW EVENTUALLY"
2019-03-16 16:56
No wonder Successful Investing In Cyclicals Caused Peter Lynch to beat Warren Buffet
And Mastering The Business Cycles or Buying Cyclicals Made Howard Marks a Billionaire
2019-03-16 16:57
Thumbs Up to AhFah!!
AhFah 3 times more clever than 3iii the 3 x idiots!
2019-03-16 17:02
Pastor, Velesto n Destini are small fly. Sapura is big. Once foreign investors come in they will wake sapura like no tomorrow.
2019-03-16 19:21
Jackfruit
Because sapnrg is so big it will take time
A rm11 billions debt to clear first. Then it will move up strongly. But it will take time
Same goes for velesto for its huge paid up capital
As for destini
Brahmal of Creador Fund bought 10 million destini shares in year 2016vand still holding
Their cost of purchase for destini shares we from above 50 sen to near 90 sen
So the upside will be fast and furious
2019-03-16 20:01
Fake calvin spreading false news, see whatever stock he shares, all not limit up even once!! Instead GAP DOWN! MUST BE ON THE SIDE WITH OPERATOR TO CATCH THEIR EXPENSIVE SHARES
2019-04-27 19:41
calvintaneng
DESTINI IS DESTINED TO BE A SUPERSTAR IN THIS OIL AND GAS BULL RUN TIME
https://www.destinigroup.com/
2019-03-14 21:56