ty ys, i will stick with donovan's tp 2.32,

as long raya can stay above 1.20, I'm good

Good night

Trader Jokes - sources online

A man in a hot air balloon realised he was lost.
He reduced his altitude and saw a man below.
"Excuse me, but can you help me?
I promised a friend I would meet him an hour ago but
I don't know where I am," he said.

The man below replied: "You are in a hot air balloon
hovering approximately 30 ft above the ground.
You are between 40 and 41 degrees North latitude and
between 56 and 57 degrees West longitude."

To which the balloonist replied:
"You must be a broker." To which the man on the ground said:
"I am, but how did you know?"

The reply came from above: "Everything you told me is
technically correct but I have no idea what to make of your
information, and the fact is I'm still lost.
Frankly, you've not been much help so far."

The man below responded: "You must be a trader."
To which the balloonist replied: "Yes, I am, but how did you know?"

To which the man on the ground said: "You don't know where you
are or where you are going. You have risen to your current position
due to a large quantity of hot air. You made a promise which you have
no idea how to keep and you expect me to solve your problem.
The fact is, you are in exactly the same position you were in
before we met, but now, somehow, it's my fault."

woah! :P

we've studied hibiscus many months, take an educated guess as to what the answer might be.

Public Invest says the entitlement of an additional 6,000 bbls/day production from these North Sabah operations net to Hibiscus is expected to aggregate about 9,500 bbls/day production for the group.

Hibiscus recently announced plans to undertake a free warrant issue on the basis of one for every five existing ordinary shares held, subject to shareholder approval.

This will expand its share base by 20% upon full exercise of the warrants over the next three years. Hibiscus should not only be applauded for being the first SPAC, but also a successful one.

Gurmeet Kaur

StarBiz

Hibiscus – the story of a successful SPAC
Posted on 24 Feb 2018
Saturday, 24 Feb 2018

THE story of Hibiscus Petroleum Bhd ’s growth is an interesting one, considering its funding needs have virtually all come from private investors. The debt-free independent exploration and production company has achieved a few notable milestones.

Not only has it survived making expensive acquisitions before the oil price crash (when it lived as a special-purpose acquisition company or SPAC), it also went through the oil crash and has come out smiling, by being cashflow positive.

No doubt, there have been investors who lost money along the Hibiscus journey, but there have been a number of investors who have rode its recovery well and are sitting pretty.

Among them are Singapore-based Pheim Asset Management and Polo Investments Ltd, a fund linked to Datuk Michael Tang of Mettiz Capital Ltd.

Polo first took up a block of 90 million new shares for US$5mil or 23.5 sen each in December 2015.

It went on to take up additional shares via a second round of placement exercise in mid-2016. Based on the company’s register of shareholding as at end-September last year, Polo’s total shares in the company was 138.9 million or a 9.22% stake, making it the second-largest shareholder after Kenneth Pereira and the management team, who holds 11.19% via Hibiscus Upstream Sdn Bhd.

At last look, Hibiscus was trading at 97.5 sen, giving the stock a market capitalisation of RM1.54bil.

Polo’s total investment in the stock is today worth RM135.42mil or US$34.46mil at the current exchange rate.

A market participant says Polo’s entry was seen as a “lifeline and boosted confidence in the stock” at a time when no bank was willing to fund the company and no investor was sourced by the placement agent.

“Polo managed to convince a few earlier shareholders to hang on and not exit when there seemed to be no light at the end of the tunnel during the oil price rout.

“Since then, the company has managed to complete the North Sea acquisition and then secured the Sabah deal from Shell, which is now unconditional and pending completion. Hibiscus will soon become a full-fledged offshore operator as a partner of Petroliam Nasional Bhd (Petronas),” says the observer.

In the case of Pheim, it is understood that when the fund took up a placement back in 2016, the share price was trading at around 18 sen.

The value of that stake now makes up a substantial value of Pheim’s portfolio holdings in Malaysia, according to data on institutions that hold Hibiscus available on The Wall Street Journal.

Pheim’s founder Tan Chong Koay, when contacted, says that in that period, oil prices were trading at an average of US$45 per barrel and are nearly US$70 this month.

“We saw that oil prices have come down and the stock is trading at one of its lowest levels. Plus, the company has relatively low gearing.

“It is our philosophy not to buy into highly-geared companies,” says Tan.

Moreover, he adds that its management is not bad even though it had made some mistakes in the past.

Hibiscus shares started moving up towards the latter part of 2016 and picked up pace from the middle of last year.

One factor that helped this is that it is a liquid stock that offers direct exposure to the recovering oil and gas (O&G) sector in developed oil-producing jurisdictions. Besides Hibiscus Upstream and Polo, the company’s other substantial shareholder is Mohd Zulkefli Mohd Abdah with a 5.9% stake.

But there are other factors that differentiate the stock vis-a-vis other O&G plays.

One is that the company has no bank borrowings as the banks were not willing to lend to it.

And it managed to successfully undertake placements from funds like Polo and Pheim for working capital. It has also provided for many of its early investments.

On the other hand, peers like Sapura Energy Bhd are bogged down by heavy debt, while Reach Energy Bhd is in Kazakhstan, which is perceived to be a riskier operating environment.

Hibiscus is already drilling and currently producing an average of 3,500 barrels per day (bbls/day).

Its main operating asset, a 50% stake in the Anasuria Cluster – a concession in the North Sea off Britain’s northern coast – was bought in March 2016. It is understood that Hibiscus is now drilling to unlock 1.01 million barrels from its current 29.2 million barrels of 2P reserves and move it closer to its target of achieving 5,000 bbls/day by 2020 from the Anasuria Cluster.

Its net cash generated amounted to close to RM50mil as at end-2017.

For the second quarter ended Dec 31, 2017, the company made a net profit of RM11.04mil, slightly up from RM10.67mil in the same period a year ago due to the higher average crude oil prices recognised.

Observers note that the company has impressively delivered eight consecutive quarters of profitability since it acquired the Anasuria Cluster.

agree bro engineeringprofit, hand in hand, HIBISCUS up Monday

maybe he didn't understand malay language

he preferred the old promoter, name sounded like supermarket LOL

u r correct

LOL

https://superawesomedeals.wordpress.com/

LOL YS, good morning

Oil rises further above US$66 as Libyan outage supports

LONDON (Feb 23): Oil edged further above US$66 a barrel on Friday supported by a dip in Libyan production and upbeat comments from Saudi Arabia that an OPEC-led effort to erode stockpiles through output curbs is working.

Crude rebounded from an early loss after the shutdown of the El Feel oilfield in Libya, which produces 70,000 bpd. Production in the OPEC member has been running at about 1 million bpd, although it remains volatile due to unrest.

Brent crude, the global benchmark, was up 10 cents at US$66.49 at 1458 GMT. Prices had rallied in early 2018 and reached US$71.28 on Jan. 25, the highest since December 2014. US crude was up 8 cents to US$62.85.

In the latest OPEC comment that a supply cut deal led by the Organization of the Petroleum Exporting Countries is working, Saudi Arabia's Energy Minister Khalid al-Falih said he expected inventories to keep declining this year.

"The oil markets, it's clear, are rebalancing," Falih, who is on a visit to India, said. "Many agencies have documented the decline in inventories and I think that'll continue in 2018."

Earlier, prices traded lower as rising US oil production and exports weighed. Crude exports jumped to more than 2 million bpd, close to a record.

"The US is pumping out a record amount of oil," said Naeem Aslam, chief market analyst at Think Markets UK Ltd. "The bull rally which we have seen for the black gold could fade away as the US oil production undermines the OPEC production cut commitments," he said.

A stronger dollar also weighed on prices. A firmer dollar can make oil and other commodities denominated in the US currency more expensive for other currency holders.

The latest decline for crude came despite the US Energy Information Administration reporting crude stocks fell unexpectedly by 1.6 million barrels. Analysts said low import figures contributed to the decline.

US production is expected to rise even more this year and top 11 million bpd in late 2018, a headwind for OPEC efforts to drain stockpiles.

In January 2017, OPEC and allies including Russia began to cut production by about 1.8 million bpd, almost 2 percent of global supply, to get rid of a glut that had built up since 2014 and that led to a price collapse.

OPEC wants to reduce inventories held by industrialised nations to their five-year average and is getting closer to that goal.

REUTERS via TEHEDGE

The technical indicators for the FBM KLCI showed middling strength. The daily moving average convergence/divergence remained in positive territory and on the verge of a bullish crossing with the signal line, suggesting continued upwards bias. Given both earnings and Stateside news coming into play next week, there may be new catalysts to break the indecision keeping the market in consolidation.
Read more at https://www.thestar.com.my/business/business-news/2018/02/24/klci-returns-to-the-bulls/#iLbhK6bQ3vHd4ajX.99

KLCI returns to the bulls

Review: Coming out of the Chinese New Year (CNY) holidays on Monday, the equities market was ready to catch up to the positive performance by Wall Street the previous week.

Retracing between 4.25% and 5.3% over the previous week, the Dow Jones, Nasdaq and S&P500 lent confidence that the correction was a brief blip on the radar.

The bulls took their cue at the week’s open and returned with foreign investment dollars to the local market, giving a running start to the new zodiac year. A strong 19-point gain put the FBM KLCI on more bullish footing, and above the 1,850 level.


The push came in tandem with other regional markets such as Japan, whose Nikkei posted a 2% gain as global markets shrugged off anxieties over inflation and tightening liquidity.

While Malaysian investors were still looking for fresh leads on the local scene following the long weekend, few were forthcoming from the international markets as the United States was shuttered that night for the President’s Day holiday, leaving Asia without a lead for the next session.

The regional markets took a breather on Tuesday, taking some money off the table following the previous session’s strong performance.

The local benchmark index followed suit and made a slight loss of 1.33 points to 1,855.99. However, despite the lull, watchful investors were also on alert for corporate news given the looming earnings results.

The slowdown in corporate activity around the festive period meant a barrage of results were due within the final stretch to Feb 28.

The midweek showed positive sentiment over the earnings season. Despite Wall Street’s overnight pullback – triggered by an earnings slump by Walmart – the local bourse shrugged off the negative news to pull ahead.

Earnings announced the previous day from blue chips such as Petronas Chemicals and Nestle served to add points to the FBM KLCI even as positive expectations for heavyweight banking stocks such as Maybank and Public Bank lifted it higher.

Starting off morning trade in the red, the FBM KLCI ramped up over the course of the day to put in a positive result of 2.18 points to 1,858.17.

Despite healthy anticipation on the local market, anxiety in the United States loomed overnight on continued concern over the possibility of US interest rate hikes. The worries were backed by the minutes to the US Federal Reserve’s last policy meeting, which showed the prospects of faster economic growth due to fiscal stimulus.

The three major indices on Wall Street dipped between 0.2% and 0.7%, lending weight to a pullback in Asia.

At Thursday’s open, the FBM KLCI traded largely in the red, despite a record-breaking full-year performance by Public Bank, which helped to pool some confidence in the earnings season.

However, Hong Leong Bank and MISC weighed for the session ahead of their announcements, leading the index 3.1 points lower to 1,855.07 but still holding steady above the 1,850 support.

On Friday, Public Bank hit a fresh all-time-high, lifting the index to 1,861.50

During the week, Asian currencies, including the ringgit, retreated against the US dollar as it strengthened on the back of rising US Treasury yields.

The local currency lost some of the gains it had made over the greenback, slipping back to a low of 3.91 from 3.89 since the early noon-closing the previous Thursday.

The rebound in the US dollar also put pressure on oil prices. US light crude hovered above US$62 a barrel while Brent crude, which been on a positive retracement over the previous week, stood near US$66.

Statistics: For the week, the major index was up 23.22 points, or 1.3% to 1,861.50 points on Friday, versus 1,838.28 on Feb 15. Total turnover for the trading week stood at 12.8 billion shares amounting to RM11.26bil, compared with 6.47 billion units valued at RM7.76bil changing hands over the shortened pre-CNY trading week.

Outlook: Despite looking bullish, the benchmark index took on some sideways movement following Monday’s strong performance. While it held well above the 1,850 support line, it was contained below the 1,865 resistance and, from Tuesday through Friday, traded within an 11-point range.

Some indecision and sluggishness may have entered the market following the return to the normal trading week post-CNY, and with many more earnings results to come in the days ahead, investors may yet be looking for a sense of direction.

The “tug of war” between US Treasury yields and equities will continue, with attention turned towards Jerome Powell making his first public appearance as Fed chairman next Wednesday. His economic testimony may help shed some light onto the future direction of Fed policy.

oui

INVESTING HORROR STORY

Some story to start =) We are at the end of summer 2006. I had been trading since 2003 with great success and especially that year. I’m up 71% with my portfolio and I feel that everything I trade turns into gold. While I’m having great success with my trades, I’m also having great success in real estate. I just successfully sold my house and I’m going to buy another one in November. Everything is going smoothly ;-D

But there is this stock: Northern Shield Resources (CVE: NRN). I’ve been making a few plays on it and making some really good profit. I’m well aware that it’s a speculative mining stock but until then I had made a lot of money on it. I actually bought my shares at $0.38 the first time and the stock went up to $1.40 a few months later. In August, I decided to use part of the down payment for my future house to average up and buy more stock at $1,00 or so. In September, I then had $15,000 invested in NRN with an average price of $0.76. I’m still making profit but holding my position as the company will announce results of their latest prospecting in a few weeks.

I already made plans as to how I will spend my extra profits. I truly believe the stock will rise to a few bucks (maybe $5 if I’m lucky!) and that I will have enough money to not only buy my house, but a BMW and a nice trip down south at the same time… my wife is going to be so proud of me!

So I go for lunch with a few friends on a casual day at work. I always look at my positions when I come back from lunch. Not that it ever changes anything but I like to see where my portfolio is at in the middle of the day ;-). It was a sunny day, lunch was great and we laughed a lot; it was just another great day in my life… until I looked at my computer screen and saw my portfolio.

The stock value went from $1,00 to $0.45 during my lunch hour!

nice picture, ys!

Scomi Engineering to delist from Bursa on Feb 28

KUALA LUMPUR (Feb 23): After nearly 22 years as a public listed company, loss-making Scomi Engineering Bhd announced its shares will be delisted next Wednesday (Feb 28), following a successful merger with its parent company.

In a filing with Bursa Malaysia, Scomi Engineering said its shares will be removed from the official list of Bursa Securities on Monday, pursuant to Paragraph 16.07(b) of the Main Market Listing Requirements.

Earlier in August, its parent company Scomi Group Bhd proposed to consolidate its businesses by merging with its engineering and energy units — Scomi Engineering and Scomi Energy Services Bhd, respectively.

However, it became a three-way-turned-two merger, when shareholders of its energy unit rejected the offer at a court convened meeting.

The merger, done via a members' scheme of arrangement involving a share swap and an issuance of warrants, would see Scomi Engineering undergo a delisting process, making it wholly-owned by Scomi Group.

According to its bourse filing, the merger will enable Scomi to obtain full control of Scomi Engineering by making it its wholly-owned subsidiary, thereby providing synergies and greater flexibility for business planning and execution, besides reducing costs and strengthening the group’s balance sheet.

Incorporated in December 1985, Scomi Engineering — which was formerly known as Bell & Order — went public in June 1996. THEEDGE

He's a nobody at i3; no one even knows he exists.

I always say that there’s never anything to gain by thinking negative, absolutely nothing. :D

LMAOF

no need 2 worry co good, up down normal, as long there's business we can reap profits

IDK

South-east Asia stocks up with Singapore rising 1pc

SINGAPORE, Feb 23 — Most South-east Asian stock markets rose today as investors responded with cheer after two Federal Reserve officials allayed concerns that the US central bank would intensify the pace of interest rate hikes this year.

St Louis Fed President James Bullard said yesterday that policymakers need to be careful not to increase rates too quickly as that could slow the economy, while Dallas counterpart Robert Kaplan said three rate increases in 2018 was a “reasonable” base case.

Two of the major indexes on Wall Street firmed overnight, following a downbeat performance the previous day after minutes of the Fed's last policy meeting showed inflation would perk up, setting the stage for additional rate hikes.

Asia shares ex-Japan climbed over 1 per cent.

In South-east Asia, Singapore shares rose as much as 1.1 per cent to a three-week top ahead of the release of inflation data.

Financials accounted for most of the gains on the index, with Oversea-Chinese Banking Corp climbing 2.1 per cent to an all-time high.

The index is on track for its best week since early January.

Indonesia snapped three sessions of losses to rise as much as 1 per cent, with Bank Central Asia up as much as 2.4 per cent and conglomerate Astra International gaining 3.1 per cent.

An index of the country's 45 most liquid stocks rose as much as 1.1 per cent.

Firmer oil prices have also contributed to the brighter outlook for regional markets, said Taye Shim, head of research at Mirae Asset Sekuritas.

“It is a commodities driven story and Indonesia is one of the key beneficiaries of commodity price recovery, which we believe is likely to continue as long as the dollar maintains its course.”

Thai shares were up as much as 0.4 per cent, led by banks, telecom and materials stocks.

The Philippine index, however, fell as much as 0.6 per cent, and is set to finish the week about 1.4 per cent lower. — Reuters


Read more at http://www.themalaymailonline.com/money/article/south-east-asia-stocks-up-with-singapore-rising-1pc#h74Lmo68BAXwdQp5.99

EXCHANGE RATES ISSUED BY MALAYAN BANKING BHD
: FEB 23

SELLING TT/OF BUYING TT BUYING OD

1 US Dollar 3.9620 3.8480 3.8380
1 Australian Dollar 3.1000 3.0230 3.0070
1 Brunei Dollar 2.9980 2.9240 2.9160
1 Canadian Dollar 3.1100 3.0330 3.0210
1 Euro 4.8740 4.7530 4.7330
1 New Zealand Dollar 2.9080 2.8120 2.7960
1 Papua N Guinea Kina NA NA 0.0000
1 Singapore Dollar 2.9975 2.9240 2.9160
1 Sterling Pound 5.5030 5.3940 5.3740
1 Swiss Franc 4.2290 4.1410 4.1260
100 UAE Dirham 109.0300 103.6000 103.4000
100 Bangladesh Taka 4.8260 4.5810 4.3810
100 Chinese Renminbi NA NA 0.0000
100 Danish Krone 67.2600 62.0100 61.8100
100 Hongkong Dollar 51.1400 48.6900 48.4900
100 Indian Rupee 6.1940 5.8300 5.6300
100 Indonesian Rupiah 0.0299 0.0272 0.0222
100 Japanese Yen 3.7050 3.6060 3.5960
100 New Taiwan Dollar NA NA 0.0000
100 Norwegian Krone 51.7500 47.6900 47.4900
100 Pakistan Rupee 3.6400 3.4100 3.2100
100 Philippine Peso 7.7400 7.3100 7.1100
100 Qatar Riyal 110.0400 104.4600 104.2600
100 Saudi Riyal 106.8300 101.4200 101.2200
100 South Africa Rand 34.9100 32.1000 31.9000
100 Sri Lanka Rupee 2.6200 2.4100 2.2100
100 Swedish Krona 50.2800 45.8800 45.6800
100 Thai Baht 13.1000 11.7200 11.3200

As volatility returns, this is how emerging markets stack up

MANILA: The spectre of volatile financial markets is prompting investors to be more selective in emerging markets and Asia is stacking up to be among the most resilient when it comes to economic measures.

Among the 22 developing economies, Taiwan and Thailand come out on top in terms of current-account balances, while Brazil and Hungary are projected to have the largest debt pile, data compiled by Moody’s Investors Service show.

“Emerging-market assets have been bought as a bulk, but not every economy will continue to attract foreign investors from here,” said Tsutomu Soma, general manager of SBI Securities Co.’s Independent Financial Advisor department in Tokyo.

“Asia stands out both politically and economically. Latin America and Europe face political issues, while the Middle East’s got geopolitical risks.”

While emerging-market assets have recovered some of their losses from the February rout, another bout of volatility could be just around the corner as U.S. benchmark Treasury yields rise to near 3% amid prospects for tighter monetary policy by the Federal Reserve.

The MSCI Emerging Markets Index of shares is headed for a second weekly gain, rising 1% so far this week.

Current-account position
Turkey will have the widest current-account deficit this year at 4.5% of gross domestic product, followed by Argentina and Colombia, according to Moody’s. By contrast, Taiwan, Thailand and South Korea will have the biggest surpluses, exceeding 5% of their GDPs.

When it come to currencies, those with a combination of solid current-account surpluses, ample foreign-exchange reserves and relatively light foreign investors’ positioning are likely to perform well even in an environment of increased market volatility, according to Divya Devesh, a Singapore-based Asian currency strategist at Standard Chartered Plc.

Standard Chartered maintains a positive view on the baht, while it expects the Philippine peso to continue to underperform due to “a modest current-account deficit and a relatively hands-off central bank,” he said.

Fiscal position
Looking at the fiscal standing may give clues to bond investors. Brazil will have the biggest budget deficit in 2018 at 8% of GDP, while only the Czech Republic and South Korea will post surpluses, according to Moody’s.

“Sovereigns that have stronger fundamentals are likely to be best positioned to capital flow volatility,” said Anushka Shah, a Moody’s sovereign analyst in Singapore.

“Some features that raise vulnerability to such flows include wider financing needs as reflected in fiscal and/or external imbalances, as well as relatively high degrees of leverage.”

Debt pile
Brazil also stands out as the nation with the heaviest government debt burden at almost 80% of GDP this year, according to Moody’s. At the other end of the spectrum is Russia, with debt at just 14% of GDP.

Reserves strength
Countries with stronger reserve standing will be more resilient to external shocks, a reason for investors to be bullish on their assets. Governments that rely on cross-border, foreign-currency sources of financing to fund their overall debt -- such as Indonesia, Peru, Argentina, and Turkey -- would be vulnerable to sudden stops or outflows of capital, according to Moody’s Shah.

Sovereigns that run sizable current-account deficits, or whose external debt servicing obligations over the next year are higher than their present stock of foreign-exchange reserves -- such as Chile, Argentina, Malaysia, Hungary, Romania, Turkey -- would be most impacted, Shah said. - Bloomberg
Read more at https://www.thestar.com.my/business/business-news/2018/02/23/as-volatility-returns-this-is-how-emerging-markets-stack-up/#9Ek7KQeA2YvFXY4Z.99

ys, usually 2 3 days after that X main

u can run half sen profit, u need to put 1M investment in it :) i don't have that kind of money :P

am referring to the upcoming company's warrant, on others, still hold my fling, one night stand hibiscus cb, no profit, didn't see the point to run fast

bro, this what i know, u only know the rate/calculation during the conversion period, usually calculated by ur remiser. Do u have a remisier?

tessa must be giggling over my CB investment in front of her PC, fine by me, the mother share look alright, I'm happy, and pls don't expect the price go down by 20%, a lot of goodies coming soon, if u want to buy, buy now, if u don't want to buy, its ok with me, just hold what u have, short term traders pls buy something else IMAO

IDK

rto?

tessa more interested in the mother share, she's not keen on ca cb cc, whatsover structured warrants u have on ur mind, her feelings are neutral for those investment vehicles.

pls guys don't fight, we r trying 2 make money here! either u r in or out

c,mon baby lets do it!

goreng sampai MELETUP

c'mon baby raya, u r my angle, up up up

good idea, tell me more

yup i remember him

ys, should tangkap when 0.09 not now

ty tessa

woah ty duit, u r the man!

i hope my cb up all the way LOL

Go slowly. Don't make a mountain out of a molehill.

GOLD PRICE 1331.19 up 1.19/0.09%

WTI CRUDE OIL 62.72 up 1.04/1.69

BRENT OIL 66.33 up 0.91/1.39%

USD/MYR 3.90

Be positive

BRENT OIL 66.33 up 0.91/1.39%

USD/MYR 3.90

my tp above 2 MYR :)

Petron 4Q net profit down 11.6%, declares 25 sen dividend

KUALA LUMPUR (Feb 22): Petron Malaysia Refining & Marketing Bhd’s net profit fell 11.6% to RM99.6 million in the fourth quarter ended Dec 31, 2017 (4QFY17), from RM112.6 million a year ago.

As a result, earnings per share came in lower at 36.9 sen, compared with 41.7 sen a year earlier.

This was despite revenue rising 23.6% to RM2.83 billion, from RM2.29 billion in 4QFY16, largely due to higher oil prices and growth in sales volume.

It also declared a final dividend of 25 sen per share, amounting to RM67.5 million for the financial year ended Dec 31, 2017 (FY17), subject to shareholders’ approval at the forthcoming annual general meeting.

In a filing with Bursa Malaysia, Petron said total sales volume reached 9.1 million barrels in 4QFY17, a 10% increase from 8.3 million barrels a year earlier.

For the full FY17, Petron’s net profit surged by 70.6% to RM405.2 million, from RM237.6 million the previous year.

“The robust financial performance was supported by stronger oil prices and sales volumes which pushed revenues to RM10.4 billion, 36% better than last year,” the filing added.

In a separate statement, Petron said net income seen in FY17 was the highest since the entry of Petron, which included a non-recurring gain amounting to RM65.6 million from compulsory divestment of service stations that were acquired by the government.

During the quarter under review, Brent averaged at about US$61 per barrel, compared with US$49 per barrel in the same period in 2016. Brent crude reached an average of US$64 per barrel in December last year, up by almost US$8 or 14% from September 2017 average level, compared with the range-bound movement during the same period in 2016.

“Our strategies continue to result in substantial gains as reflected in our banner performance for 2017. We will continue to focus on growing our market presence, enhancing our value chain and ensuring excellence in service at every touch point,” its chairman Ramon S. Ang said.

On the group’s outlook, Petron will tap on expected market growth through retail and commercial network upgrade and expansion programmes. It will also pursue several projects at the refinery to continue to produce and deliver quality and environment-friendly products.

Petron’s share price closed up 1.5% or 18 sen to RM12 today, with 418,400 shares traded, giving it a market capitalisation of RM3.2 billion.
THEEDGE

Bro, I still have CB bought yesterday, now down, no surprise, waiting for the mother up, make a bit sell, no need to wait for expiry date.

However, the mother shares we hold tight tight till donovan's tp