Johnzhang,

Did they absorb the Q1 hedging in the Q2 report?

Sharewire, how did you calculate the average crack spread for all of them, and what is the average for gasoline in your calculation?

sslee or probability could you help me to explain this part,

Does Q1 hedging already accounted or it is still being accumulated till Q2 and next is Q3 would it be snowball it as well which means hedging from Q1, Q2 and Q3 would be snownballed?

Literally, i couldn't find anywhere where the hedging of Q1 is absorbed in Q2 so i believe they are snowballing it till end of this year prolly till they find the perfect spot to clear using cash in hand probably?

besides, I wonder why they wanted to pay huge tax(230mil tax) since they can reduced it by absorbing partial losses and decrease the debt indirectly, why they dont do that?

On the other hand, the crack spread had fell alot since 5th july 2022 and this might not be a good sign yet as long the crude oil hovering around $100 , they can still sell it at higher price.

Correct me if i'm wrong, does crack spread is equivalent to the price of selling in the market? And if it is a yes then this only take place as a ratio of 3, correct me if i'm wrong.

3 gasoline 2diesel 1 jetfuel. Your explanation very much appreciated.

sorry it should be this on the share buy back

There were no issuances of new debt and equity securities, share buy-backs, share cancellations,
shares held as treasury shares and resale of treasury shares in the current quarter and financial
period ended 30 June 2022.

Amoneymous

Where do you see share buy back for 10%?

under A6, --> I dont see any share buy back

There were no issuances of new debt and equity securities, share buy-backs, share cancellations,
shares held as treasury shares and resale of treasury shares in the current quarter ended 31 March
2022.

anthonytkh

If you notice HRC shareholding mostly own by the insider only a percentage of ~50%. PNB and EPF is less than 5% leh. I don't find a reason they wanted to be a shareholding here since PETDAG is there. If they are heavily here, People would definitely question them,

I really wonder what your motive?

hng33,

That's a very good point which i wanted to see stockraider to explain on it. I am not in this background but this is what i have heard.

That's totally true that we can exclude the unsettlement hedging loss in P&L to certain expiry date but i wonder how long they could hold it as unaudited and does this apply to Q1 or it was accumulated or the Q1 hedging is already paid off.

Does anyone could affirm and explain this?

What's your average price BonAxelrod for the Hibby

stockraider

Since you mentioned the balance sheet has issue and it should reflected the other way round.

Maybe you could enlighten me, as you mentioned earlier the PAT reflected in the QR is not entire profit and loss which they had excluded the cash flow hedge reserve and cost of hedging reserve with an amount of RM 1.079 billion, where as as reflected only 0.667 billion and EPS is around RM2.2.

Why in the later page it written the total capital and reserve is around 1.57 billion after the deduction from the hedging? Could you explain me this?

I hate this stock to the max as i lost my money in the warrant, If possible i will come back here and warn all the retail trader, forget about this stock and let the institutional make the losses

I hope PetronM would sail together with Hengyuan since they don't earn well as HY.

I still have huge doubt if the rally will be over since the hedging part is incurring huge losses. In fact, i'm not certainly sure how it would affect but anyone can explain further on this part.

During this crunching period they shouldn't award ESOS and this would give more rebalancing in the price action and due to the downtrend lagi la, it will go down.

A very good sharing zhangsuode, no idea you stay invested here but good picks for the year 2022

Nice closing, next week might see RM5 !

mikecyc VWAP doens't works perfect in some counter in KLSE due to liquidity yet you are right on the GAP

Relax guys the stock price break from down trend liao dont chase him alot be patience and you shall be rewarded. I still in the midway to BE but i believe it will recover because the current price is "nonsense"

I did some mistakes here though should have sold it whenever EPF started to dump but putting trust on the founder when he is keeping buy it. Besides, the CPO spot price was high that time

The moment they keep disposing their shares agak ready! Normally, i don't trust any counter with disposing so much of stocks~

Ehh, i though window dressing should be good leh! Just to make sure the summary looks good!

Still trap at the top though! I never though it would plunge till $80cent sounds ridiculous. KLSE is always been a terrible market or we as retail traders are pathetic.

Palm Oil is already at the lowest though, if you have an active income job just let this be here for couple months and come back later.

As long the founder keeping it tightly and slowly doing SBB, good to hold though!

Palm Oil Business - Minyak Masak(of course) + Biodiesel + Battery (soon)

Who is still surviving in this stock? Last time, i saw some kaki here holding firmly!

Ini stock bukan main hebat pada mulanya tapi sekarang macam +_+". I dunno how Khazanah, backing this company and supposedly we should see eps of 1.00 this quarter but due to inflation i assume it dropped yet the hype for this stock was too much!

How do you know the volume coming from Affin IB

Surprise me that this quarter they don't give dividends. I dont see anywhere they stated it.

Q1: Petron Q2 EPS 67sen vs. Petdagangan Q2 EPS 24sen -----> 2.8x higher profitability
Q2: Petron RM 5.6 vs. Petdagangan share price RM 22------>4x affordability
Q3: Petron forward PE 3x vs. Petdagangan forward PE 30x -----> 10x competitive

As Sslee mentioned, he would sell Petron at the PE of 10 to 15

PE 10 --> RM 6.8
PE 11--> RM 7.48
PE 12--> RM 8.16
PE 13 --> RM 8.84
PE14 --> RM 9.52
PE 15 --> RM 10. 2

So do you due diligence and sell accordingly.

cc : TakeProfits

Dear Sslee,

Hence if assume the 14.45 NBRC NPAT is zero then the
Peso 595 million is for 26.60% Petronm.
From this Petronm NPAT is Peso 595/ 0.266 = Peso 2,237 million.

----------------------------------------------------------------------------------------

You already stated that Peso 595 million already refers to NPAT of (NVRC + PetrnonM) so why still need to do the calculation where it is already calculated bro.

Again you mentioned NBRC NPAT = 0 and Petronm = Peson 595 million and thats for the 26.60% . So why still need the division

Unless you are saying, the final NPAT is the every percent of the ownership is muliply with the NPAT value of non-controlling interest value

In other word :

Non-controlling interest = NPAT x Non-controlling interest percentage
595 = A x 0.266
A = Peso 2237 million

correct if i'm wrong

Really appreciate if you could reply this Sslee bro!

I'm sorry Sslee, am trying to get the math and consolidate everything here.

Good info on the subsidiaries of the companie which are Petronm --> NVRC + PMRMB

Since you mention on the ratio of the NOSH here :
Petronm NOSH 270 million. ---> True
Petron Corp controlling shareholder hold 198, 179,063 units (73.4%). --> Okay as you said
The minority shareholders hold 26.6 % (71,820,937 units) --> Okay as you said

Does KLSE Petronm shares comprises of Petron Corp shares as well is it? . If that the case the floating shares in the KLSE market is only 71,820,937 unit which is 26.6% only. --> Please affirm this

For the math calculation: I still don’t get it why we need to divide even if it is the fraction of 26.6% then we should be times.

Scenario A : The net income for H1 is already 7.71billion peso from this we get non-controlling interest H1 is 945 then Q2 is 595million peso. I get it to this extend. This is already a net income for Petronm, so why do we still need to divide the 26.6% since the whole net profit already belong to PetronM.

Scenario B: Alright if A is untrue, we still need to do some accounts here because that net income isn’t solely full net profit. As you said it’s only 26.6% then we should be doing a multiplication than division.

26.6/100 * 595 = 158 million peso --> This is a fraction of partial pie from full pie of 100%
instead of
100./26.6 * 595 = 2237 million peso --> This is a fraction multiplication of full pie for 26.6% means we have 26.6 pies. Why do we need to do this when the net profit max is 595 million peso.

I just totally don’t get this though. I’m sorry for troubling you and accept my apology but would love to resonate this well.

Petron is fighting close at the supply around RM5.90, if big candle lies on that price we would see huge amount money flow into this stock already.

FIBO
R1: RM5.9
R2: RM6.3
R3: RM6.81

S1: RM5.54
S2:RM5.10

sslee, I totally get your point of calculating the EPS from the earning amount and NOSH but why this formula is needed to get a fraction from the non- control interest profit.

100/22.6 x revenue = expected revenue
TOTAL nOSH / minority share holder x revenue = exepected revenue

I just wanted to get the formula right.

Totally appreciate your kind explanation here.

hng33, why you did that division on the 26.6%

100% /26.6% = 3.76 --> where do you get this fraction --> I couldn't find in the qtr report
3.76 x Peso (945-350) = Peso 2237m

if the profit is 595m and malaysian petron takes only 26.6% of it then the calculation should be this way right

26.6/100X545= XXX --> correct me if i'm wrong

Well, calculated hng33, are you an account, not many knows to calculate on the non-controlling interest

Haha Pang72, are you still on the boat?

Thanks Kahhoeng for the link. In the doc, never mentioned on the dividends though.

Someone posted this news if this is true. Coming days QR should be good!
Aug 1, 2022
https://www.petron.com/news/petron-doubles-consolidated-net-income-in-...

Consolidated revenues came in at P398.52 billion, surpassing last year’s P174.13 billion, driven by the sustained increase in sales volume and prices. Dubai crude averaged US$102 per barrel from January to June as supply concerns persisted due to geopolitical conflicts.

Someone posted this news if this is true. Coming days QR should be good!

https://www.petron.com/news/petron-doubles-consolidated-net-income-in-h1-2022/

Consolidated revenues came in at P398.52 billion, surpassing last year’s P174.13 billion, driven by the sustained increase in sales volume and prices. Dubai crude averaged US$102 per barrel from January to June as supply concerns persisted due to geopolitical conflicts.

I really demand for HIB to give a short presentation on their QR, i'm quite unhappy with the rewarding part except their revenue tripled. This is the time they should reward the share holder; besides the price action jatuh lagi. Haizz.

TBH, no bullet to average anymore though.

Goldberg ikut rentak je, gendang sini sana!

Actually, their debt naik gila2. Do check it out on that as well.

Do check it out US companies, haizz!! KLSE companies memang buat hal! Dah plunge so much and don't want to reward unless they wanted to pump back to the market different story!

Cash and bank balances 549,386(q4)/ 177,652(q3) ---> Bloody hell ada banyak duit tapi tak mahu share.

They should at least pay abit of dividend to the share holder. The first OnG company doesn't reward the investor, it seems like they going to be like OXY since Buffet don't reward dividends.

They should though, OnG is a massive profitable theme and people stay invested due to the dividends mainly. Normally, they don't do massive expansion or maintenance and it takes time if they do and cost more than that.

I just wonder why, there is no revenue from Australia and Vietnam? Looking forward for their presentation sharing, hopefully they do.

I just wonder why, there is no revenue from Australia and Vietnam?

That's a good one GrowthCapitalist, but i wonder with Malaysia Refine, haha. Waiting from 2pm onwards though, if no show time then laosai liao!

Something bothering me now is the doji seen earlier in previous month exactly the same now.

I guess today's drop is solely profit taking by contra's, i just wonder why market marker move the stock up so fast and don't want to wait slowly. Sometime, rather than fighting with data just go along with them will do but no one can sit infront of computer and keep watching.

The price may be side way for temporary, honestly Buffet has up his stake at OXY almost 50% so just hold leh. Plus, US oil refiners are running full capacity up to 90% till end of the year and did mentioned with regards the price drop in Crude still they would be earning