Thanks probability shared the hedging calculation excel sheet after 22Q1. Proven the theory. Hedging is lagging indeed 22Q3 will be explosive.

After reading i3 comments. Is hedging just like option contract? Depends when owner want to realize profit or loss?

Based on KLSE Screener, only 3 companies are having EPS more than RM2.80.

DLADY EPS RM3.84 PE 8
HENGYUAN EPS RM2.80 PE 2 (lowest)
BKAWAN EPS RM3.15 PE 7

Comparing to PetronM EPS RM1.42 PE 4
Market tend to give higher valuation to PetronM due to dividend

Now that HENGYUAN is giving dividend should deserve PE 4 which the fair value to RM11?

Agreed 22Q3 will be more surprise. In fact, 2022 will be record year for HRC and PetronM. Is not easy to hold volatilr oil stock. But is rewarding.

Current PER is 2. EPS is RM2.80.
Average PER is 4, fair price should be around RM11?