Hi Jay, if will the CB exercise price be adjusted for normal dividend payout?

for refinery business, rise or decline will post inventory holding gain or loss, but it shouldnt really much affecting the cash flow . looking at Q4 result, though profit is higher but cash from operation almost the same. more cash needed to buy feedstock. same applies when price decline

I think focus on cash flow it can generate and soon it can finish paring down the debts and start pay more dividend. remember San acquire 65% at US$195.3mil @.3.068
and now it's 4.4..it didn't really make much considering the depreciating MYR

I think 100,000-350,000 barrel refers to gasoline 95.
88,000 barrel should be crude oil.