Perdana today dropped 10%. More or less already priced in weak quarterly performance.

Today price already drooped 10%, more or less reflected the poor quarterly results. Big boy will not let it drop more otherwise RCPS will be no meaning if selling price too low. Plus, mgt already guided that results expected to be better for remaining 2019 and first quarter is seasonally slower quarter affected by monsoon.

Stock market is full of surprises. If you looked at last few days I3 forum, mostly expected Dayang shares to drop a lot but it is not. Compared with others, Dayang is most resilient among others speculative counters, only dropped 2 sen. As usual, most expect Dayang to drop after Perdana results, it will be interesting to see how low it is going to drop and how is Dayang results which is expected to announce after AGM tomorrow(most likely Thu)...

Investors especially retail investors will react negatively based on current results rather than mid term prospects...

Prospects
While Perdana Petroleum reported losses for the first quarter of 2019, this came as no surprise as
our chartering business is typically negatively affected by the inclement weather at the beginning
of the year. Nevertheless, we are encouraged by the year-on-year improvement in our financial
performance in the first quarter of 2019 which has seen a marked reduction in the losses.
Despite the seasonally slower quarter, our quarterly revenue grew by 35% year-on-year as our
vessel utilisation improved to 36% as compared to 27% in the first quarter of 2018. We believe
that the ramp-up of work orders and the increase in charter contracts in the subsequent quarters
will bode well for our vessel utilisation and help us to attain better profitability for the current
financial year.
Going by the work schedule for our major shareholder, Dayang group which is also our key
client, we expect a robust activity level to be sustained for the remaining of 2019 which will
result in higher demand for our vessels, thanks to the high number of vessels that have been
earmarked for Dayang’s offshore maintenance and hook-up contracts with various oil majors.
We believe 2019 will be an inflection point for Perdana to turn around its business after
weathering various challenges over the past few years. We believe that our streamlined
operations and the synergistic collaboration with Dayang group will help us to emerge stronger
going forward.

This quarter no good is because of the following as seen in "prospects" of the quarterly announcement:

While Perdana Petroleum reported losses for the first quarter of 2019, this came as no surprise as
our chartering business is typically negatively affected by the inclement weather at the beginning
of the year. Nevertheless, we are encouraged by the year-on-year improvement in our financial
performance in the first quarter of 2019 which has seen a marked reduction in the losses.

This quarter no good is because of the following as seen in "prospects" of the quarterly announcement:

While Perdana Petroleum reported losses for the first quarter of 2019, this came as no surprise as
our chartering business is typically negatively affected by the inclement weather at the beginning
of the year. Nevertheless, we are encouraged by the year-on-year improvement in our financial
performance in the first quarter of 2019 which has seen a marked reduction in the losses.

But need to have patient in investment lah. Now overall mkt is bad due to trade war between China and US. No point scolding others as you are the one who decide to buy and sell. Whatever advices given are just advice and you decide whether to buy and sell by exercising judgement and experience. Stock market is hard to predict and full of surprises. Just like today's Dayang, most people expect it to drop a lot due to RI, but it is not. This forum is to share thoughts and information.

After Naim right issue at around 45 sen( cannot remember exact price), share price increased more than double. If Dayang coming quarter results good, its share will fly again

Tomo is the AGM. Very likely release quarterly results as well. Don't know how the results going to be like. Judging at buying by big boy today, look like results going to be good...

After so many people making noise because of losing monies, this means the price almost reaching bottom. If the coming results next week not so bad, eg 8 sen per share, price will go up again lah...

More contracts expected to be awarded by Petronas just like Perdana yesterday announcement. More excitements will be seen in this stock next few months. Some O&G counters will report outstanding results this quarter.

After supporting for about 1 month, price will drop eventually like AAX

Bursa and SC should abolish this stabilizing action and let shares to drop to its fair value rather than artificial supporting. Look at Uber IPO, shares dropped during IPO day...

Over priced IPO. Better avoid and wait till price drop 50% ie 10 time PE only enter if want to be safe...

Leong Hup last time shares also not performing well and Lau family privatized at about less than 10 times PE( if not mistaken as too long already). Now come back this IPO and priced PE 20 times....Who is clever and who is stupid?

Useless share. Over price IPO. If not mistaken PE over 20 times....

If fundamental is intact and good, we should buy during bearish??

building up base at 66-68sen. Trending upward soon. Will not get this price after today.

market so bad last few days due to trade war. Can see selling from weak holders and big players are accumulating and building up their position. Be greedy when others are fearful. This week is good time to accumulate.

market so bad last few days due to trade war. Can see selling from weak holders and big players are accumulating and building up their position. Be greedy when others are fearful. This week is good time to accumulate.

Today price is bottom. Due for recovering...

Continue buying at 76 sen

Hope other experts can shed more light on this...

Release during bad time where international market are bad(US China trade war) to press down price could be one of the reasons. I expect it will recover back to Rm 1 soon.

Miss the chance to buy at 75 sen. Start buying from 88 sen just now. Just like Carimin, one quarter does not mean a lot as the result could be affected by monsoon season etc. Have made some monies from this counters after sold at RM 1.10 to RM 1.20. Now accumulating again...

buying getting stronger and stronger

Likely in short term, price needs to be at 90 sen in order for the pp to be viable. Today construction stocks recover and will continue next week. Govt need to spend big on construction and will continue next 3 years till next election in order to stimulate the market. They have started to revive old projects and effect will be felt starting 2nd half of 2019

Thanks hng33. Most of the time when he bough mean the share already reached short term bottom.

Will recover further. Bottom at 80 sen yesterday.

Recover now...

Not likely it will drop below 80sen for now as the indicative placement price is 79 sen(per announcement). Even though is not confirmed, but budget used in the proposal is based on 79 sen. Too low will not service the fund pricing purpose. It is a good price to accumulate now.

Price slowly trending upward, good sign. Look like funds are still accumulating slowly...

How much is the contract sum secured by Dayang per announcement just now?

uncle TP, whether achievable or not will depend on this quarter results. If this quarter results also achieve about 10 sen per share, then it can break RM 2.

With T+2, lesser contra players. Volume dropping, price more stable and now resume uptrend again.

Other big funds are slowly buying this counter

https://en.wikipedia.org/wiki/Man_Group

Yes. Just they just make Bursa announcement afternoon today lunch break. What an odd timing...

https://en.wikipedia.org/wiki/List_of_hedge_funds#

Man Group is the third-largest hedge fund by assets under management ($59.1 billions of USD). From Wiki

This Man Group PLC and Numeric Investor LLC has slowing accumulating and now owned 58 million shares. More than Uncle's shares!!

Uncle KYY is correct in promoting Dayang. With big foreign funds come in as investors, price will likely uptrend and more stable as they are slowly absorbing shares by retailers.

Dayang started to attract funds, and some of these funds have started to surface. I think the same goes to Carimin and Petra Energy. Petra Energy up abt 6 sen already. Dayang will likely follow soon...

Start recovering. Why out of sudden?

Why today share price drops so much today?

After profit taking, will recover again. O&G show is not over yet.

Profit taking not over yet. Likely will consolidate this week. Also insiders are selling this stocks almost every week...

https://www.theedgemarkets.com/article/former-cimb-research-head-settles-sc-over-insider-trading

Long term serious investors can consider to buy for Dayang and Carimin again after consolidation which will take few days or weeks. Big volumes due today and tomorrow as well as Monday. Can expect to see force selling also next few days. No shares can go up everyday.

Carimin also same, under profit taking and will take few days to absorb large amount shares of contra and short term investors.