wake up glotec

think it's on 2nd wave uptrend. Just beginning ..

all buyers stuck in thheavy and pdz... better park here before it shoots up later. don't buy when it has already shot up..

i thinks sheep being led to the slaughter house.. Usually a stock that rise 100% so quickly will also falls quickly.. so many examples, like xox. I might be wrong but good luck to those who bought yesterday with so much hope, prediciting it will hit 0.20, and 0.40

free fall.. many trapped, so sorry

Perisai Petroleum Teknologi - Prioritising Debt Restructuring

Author: kiasutrader | Publish date: Fri, 10 Jun 2016, 09:43 AM

We believe a restructuring of its MTN debt is needed to address stretched cash flows and a successful disposal of idling assets will be a plus point to the current situation. Rate reduction risk persists especially for its OSVs and FPSO amidst sector-wide slowdown. No changes to our forecasts. All in, we maintain our MARKET PERFORM call with an unchanged TP of RM0.26 pegged to CY17 P/BV of 0.35x.

Discontinued MOPU for sale. In 1Q16, management had the intention to sell its mobile offshore production unit (MOPU), Rubicone and classified it under "asset held for sale". PERISAI is currently in talks with potential buyers and we expect the selling price to come under pressure given the current weak market condition. However, should PERISAI secure any contract for the MOPU, it would be re-classified back to non-current asset and depreciation charged accordingly.

Continue to delay rig delivery amid rate cut pressure. Delivery date for its second jack-up rig was due in March and PERISAI is trying to defer the delivery until a contract is secured. Recall that PERISAI recently announced a delay for the delivery date of third jack-up rig, Perisai Pacific 103 to 30 Oct 2016 from 31 July 2016. Meanwhile, in our view, PERISAI could possibly face rate reduction risk from their clients for its OSV’s longterm contracts as well as its FPSO. Note that PERISAI is in the midst of negotiating its FPSO extension contract.

In need of debt restructuring. As of 1Q16, PERISAI’s short-term borrowings of RM460.7m included the unsecured MTN amounting to RM359.1m (equivalent to SGD125.0m) due in October this year. Based on the 1Q16 financial statements, we reckon the operating cash flow is only sufficient to pay off RM47.6m in term loan. Thus, PERISAI needs to either restructure its debt portfolio or defer repayment. Meanwhile, PERISAI is likely to exercise its put option to sell off its 51% stake in SJR Marine, which owns the pipe-laying barge, Enterprise 3 to EOC Ltd for USD43m at the end of the year, hence allowing PERISAI some breather amidst tightening cash flow.

Risk of breaching loan covenants. We are guided that PERISAI met its entire loan covenants attached to the MTN in 1Q16, including criteria on shareholders fund, gross gearing and interest cover. However, going forward, there is a risk of breaching these covenants if the MTN is restructured on the same terms. For instance, gross gearing threshold of 2.5x will be exceeded if the two jack-up rigs were delivered. Furthermore, PERISAI’s interest cover (including FPSO Kamelia’s contribution) may also fall below the 3x threshold if the extension is not granted or extended at substantially lower rates.

Retain MARKET PERFORM call. No changes to our current forecast at this juncture but we continue to be wary of its high net gearing of 1.9x. Target price is maintained at RM0.26 peg to 0.35x P/BV. Thus, we reiterate our MARKET PERFORM call. Downside risks to our call: Inability to secure new contracts for its Jack-up rig and (ii) inability to renew its FPSO contract or redeploy to other fields.

Source: Kenanga Research - 10 Jun 2016

bulls and bears tarik tali at 1.85. Siapa akan menang?

so many have high hopes giving TP of 0.80, 1.20, haha. Le's pray it has enough financial resources and don't fall to PN17.

buy on rumours and sell on news. News already out tadmax likely to secure a gas fired power plant project which is expected to be announced next week. Guess price may fall back further.

Wah, I never knew the share price of fgv is linked to ge 14, tot due to management, world oil palm prices,or buying overpriced assets or losing investors confidence. lol.Now BN got to make sure fgv price goes up to rm3-4 to win. Maybe make it goes up to rm 6, can get two third majority ah? LOL. So many jokers here.

All these so-called analysts recommends buy when the dtocks had gone up so high and not when it was beginning to rise.. From past experiences the recommended stocks will drop and small fishes like us got fried! Be careful. There are other stocks that are now at its lowest level and has more uptrend momentum when political and market improves.

UPTREND Continues after a short rest yesterday. coming 2.00. Public bank TP 2.08

STILL SLEEPING..

going up.. next uptrend

high volume and close high,momentum still upwards. Go go go

just starting to push up... can buy wan

bearish time for cimb..

Agreed. Chart-wise looks going for 2.00 soon.

looks like going down to 0.13 again ..

Since July 11, FGV is on an uptrend... what is the reason? Hitting 2.00 soon??

time to accumulate ... don't buy when price rise, ..BUY LOW

if close above 1.80, got chance to hit 2.00

SO SLOW

so sad for u bodoh_man, don't jump from klcc, money lost can be earned back, life cannot. this is part and parcel of playing shares in klse..

cpo naik , fgv turun, talak logik...

anyone still holding at 20, 30 , 40 , 50 , 60 or 70cents???

c u at 6

Where is xox heading? it was already a loss making stock before its IPO listing and had a high profit forecast. Speculators had chased the share to a high of of 0.70 after the share reduction exercise. Now it is at a bottom 0.125. Limbo rock, how low can you go?

company depend on contracts from petronas and other oil companies.

Are political-linked shares being sold to get money for the sarawak elections? Maybe some knowlegeable sifu can explain where do these political parties get the money to support the elections. I think not from the saudis as the country is also facing economic woes due to the low oil price.

hopeless and loss counter...

How can the price go up when big shareholders EPF and Ombak Damai has been disposing millions of shares since January. Are there things that they know and we don't?

best of luck to buyers,.. wish you all profitable transactions on this counter

Future oil price will be low due to oversupply as more US shale oil companies increase and become more efficient while more cars will have electric or hybrid engines.

Any company with politicians in it is not good for the company ...

can it reach a historic low of 0.70 ?? Think for long term, good price to buy ..

Price in a doldrum... no support from epf and th, both disposing its shares reguarly

Chart indicates more upside for knm..

when i bought it i thot i saw d bull running,.. now i c only d shit...

bull s..t share ....

epf already disposed more than 7m shares since last week (see bursa announcements). Those who want to collect can keep buying at lower price....

where is LTAT? Glotec price so low, don't want to add more ah??

I see an oversupply of properties in Johore. Visit south Johore and see for yourself.

FGV price do not go up in tandem to palm oil price unlike other plantation stocks due to poor management. They keep buying assets at a higher price and that's why fgv keep getting poor ratings. By now, with the CPO price increase, fgv price should be above 2.00!!

FGV price do not go up in tandem to palm oil price due to poor management and political self interest.

why didn't you sell at 2.60? Greed? Expecting 5.00?

Can the new CEO increase fgv's profit? Being the son of a felda settler, I think he has the felda settlers interest at heart. Hope fgv can rise to its glory days.

Can JOHOTIN goes back to 2.80? Can it falls to 1.50? revisitng old discussion ...


murali Kk123, u everyday talk bad on Johotin, hoping it will drop to RM1.50, the same level u sold early this year before the sharp rise of Johotin from RM1.30 to RM2.80(before the sharp plunge after Q3 result). Unfortunately the price can never fall below RM2.00, so what are u gooing to do now? Do u want to miss it again??
04/12/2015 17:15
murali Friend, in life u always have choice....dont repeat the same mistake again n again...unless u really like eating roti kosong....then that's a diff story....

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spectre007 Johotin will only go back up to RM2.8 and beyond..
04/12/2015 18:20
pharker Hahaha...KYY is promoting buy call on Johortin n sell call for Canone...so use your common sense ladies n gentlemen...remember every investor, whether big small fat ugly has only one COMMON objective...i.e. to maximise the return on his investment

Invest well and be prosperous
04/12/2015 19:31
murali If u believe the formula of koon koon n otb,mayb u can consider to buy now...i think koon koon's average cost may not b that low as compare to current prices....
04/12/2015 20:52
Johnnys May I know when the Johor tin, new factory start operating?
05/12/2015 08:11
murali Kk123 wanna buy back johotin at 1.50...the same price he sold early this year....i think he may b able to buy so next year....after 1 for 1 bonus issue or share splits etc etc...
05/12/2015 17:14

Any news about glotec?

profit down and if 2015 price range about average 2.60. Long way south