Had to let go some portion of Hibiscus to make a quick profit due to the negative sentiment. I am afraid that the prices might drop.

Yahooo!! Hibiscus keep the momentum going. I am confident with Anasuria increasing production and Sabah treasure fully acquired, this counter is going to sky rocket. Probably more than the TP of 2.5.

VenFx, I hope that the Sabah acquisition is successful and Trump overturn the energy policy to stop shale oil extraction because shale oil extraction through fracking process is hazardous for the environment.

B4b4 you are asking others not to speculate but you are speculating. Let me explain shale oil and Brent crude are enemies. If US increase shale production, it is bad for Brent oil producers as they will be forced to sell low in order to make shale production tap out. The whole reason why oil prices rock bottomed 2 years ago is because the cost of producing shale oil becomes cheaper than Brent crude hence the US decided to extract shale oil instead of importing oil. So we must hope that Trump would put a stop to shale oil. The oil demand is still not that high and that's the reason why OPEC and NON OPEC decided to curtail production to increase the demand which will eventually lift the Brent crude price.

Additional projects are good but not enough to cover up the existing problems. The share price will rebounce once the power plant comes into operation or the management decides to sell the power plant. Let's wait and watch.

1st January 2017. It appears like more countries are joining in a bid to cut production. We have to wait for January 2017 to ascertain the oil prices. My guess that it will happen but not sure how successful will it be. Two more important events to watch out for are Trump's energy policy after he takes office in January 2017 and the completion of Sabah Oilfield acquisition in March 2017.

Someone is continuously accumulating which means there is a good news.

Sabah Oilfield acquisition is the biggest catalyst now that Shell has confirmed that abundant gas reserves hidden below Sabah waters. Hopefully that the acquisition is successful.

I think its time for me to enter. Let's push it up some more.

Moving up today. Have they fired the first unit?

I guess the price movement is not because of the profit shown recently nor Sabah Oilfield acquisition but because of Calvintaneng. Go Go Go Calvin, please help to promote Hibiscus more and if possible until the price hits several ringgit. Thank you for your kind effort.

VenFx i have already been holding this stock for almost more than 2 years since the price was RM1++ and have averaged it down 3 times. Now Hibiscus is one of my bigger investment. I will decide if i have to buy more Hibiscus but let's watch the price movement.

VenFx mind translating because i don't understand your comment. Thanks.

The reason why the prices start moving up is because of the plan to increase production from the existing Anasuria with the increasing Brent Crude prices. Another major reason for the move is the because of Sabah Oilfield. Since Shell has shown interest, there is definite treasure hidden under the waters of Sabah. Now the major challenge is the approval from Petronas for the joint operation. Enhanced Oil Recovery seems to be an expensive mining method of crude oil however if the Brent Crude is able to stay above $55 then i guess it should not be a problem for Hibiscus. Some claim that oil from EOR method will only be profitable if Brent hits at least $80 but don't forget operation cost of companies like Shell is multiple times higher compared to Hibiscus. With all these in mind, if Anasuria has increased production and Sabah joint operation is successful with Brent crude above $55 then this company will be making profit.The price will move up higher compared to other O&G counters if the next quarter results shows solid profit from sales solely. Let's wait and watch what happen next.

mafia168, for the big players to buy, the company has to show solid profit purely from sales instead of tax refunds or exchange savings. Have to wait for the big players to move it. Let's see what happens when the next quarterly results are out.

Hibiscus has found treasure in Sabah waters, hope the acquisition is successful because Shell is diverting its attention back to Malaysia. Yesterdays news gave me hope that the Sabah Oilfield still have abundant gas reserves. There is also a gas power station and gas processing plant in Kimanis owned by Petronas which was commissioned about 2 years ago which simply means that Petronas has seen the potential. The only challenge is the deep water drilling which may increase production cost however my guess is Hibiscus maybe able to produce at much lower cost compared to Shell.

B4b4, if shale production goes up then Brent will be forced down. So instead of boosting Shale oil exploration, Trump should suspend/cease the operation in order to raise the Brent Crude price.

I guess B4b4 is from MARS. The sky is not the limit for B4b4.

Stay HAPPY and CHEERS.

Trump seems to be a good friend of Putin by observation. If that is really true then i guess Trump might not overturn the energy policy to push for more shale oil.

John Lu, sorry in 2 years time. If the Sabah Oilfield exploration is successful than maybe it can happen next year. Now that Shell is keen to return to Malaysia, i am very confident that the move to acquire 50% stake in Sabah operation is a right move.

John Lu, are you serious it can reach RM2.5? I know it hit RM2.5 before but to reach RM2.5 now it has to really generate some attractive profit especially from Sabah oilfield but wait i read a news today that Shell is keen in buying exploration land back in Malaysia due to the possible gas reserves available. Maybe the acquisition of Sabah oilfield is right move. I think i should start to reconsider.

About 40 minutes more. If the price can hold then tomorrow sure fly again.

B4b4 there is both buying and selling. Selling is selling by investors just to clarify. If only buying the price will shoot up.

Good, this is what i want to see. Not need to jump up by 10 cents at least move 1 to 2 cents everyday. Be cautious guys the price have to stay or uptrend because i notice there is heavy selling. Let's hope this is a genuine alarm and the show has started.

The only one thing that seems to be true is the high number of private placement. Hibiscus basically used the funds from private placement to survive the bad times and of course 80mil profit is not solely from sales but rather taxation and exchange rate. The only thing that can prove naysayers wrong is if the share price hits the RM0.40 mark immediately to show some seriousness in the business. Simple as that. I am not expecting more than this because of some other reasons but again it may not be true. Again if the management is dead serious this company is profit generating, buy back the shares immediately and stop creating market tension by increasing the volume day in day out and staying on top of Most Traded counter. What is Hibiscus trying to prove? The reason i am worried is because of the bleak future. It is very uncertain with what Trump will do and the oil price may be limited by shale oil even with reduced Brent production unless Trump decides to stop shale oil production.

IncredibleThings the price move up just because of the OPEC meeting outcome which i consider speculative unless proven in January that all parties cooperate and curtail production. You just wait and see what will happen tomorrow. No surprise that the price will drop back and there will be heavy buying and selling which will limit the uptrend. So called consolidation period. Come on, look at other O&G counters like Bumi Armada or Reach. This company looks technically more promising than other O&G counters however the price remains so low. Can anyone explain why?

I just need a few more cents up and i am happy. Many are saying that the price will surely fly but nobody is telling me why can't the price move up everyday at least one cent if the company is seriously making profit. Not expecting the price to fly sky high overnight and with this counter i can confidently say that the price will never fly high overnight.

Hibiscus, is that all? Don't tell me the 2 cents up is simply due to OPEC agreement. Can't do better than this? Hibiscus and big shareholders, are you not confident that this company can make money?

Let's watch the performance of Hibiscus. Hopefully the prices rally up as the Brent hit a new high after so long.

Profit 2K from selling Hibiscus shares without further averaging down, that will be a miracle for me.

MrRoy i am waiting for a few more cents up so that i can break even because i bought this shares around RM1 few years ago and then i average down. If the share prices goes up few more cents then i am happy to sell. This was a painful lesson for me.

Again this Hibiscus starting to create speculation by heavy selling. Is this a joke? For me it is simple, Hibiscus if you are really strong then prove it. It doesn't make sense for upstream O&G share prices too be so cheap with significant profit as what the company has declared and the with the Brent Crude well above $50. No more hide and seek. Show the investors that you really mean business.

B4b4, i am a small time investor so i tend to be more cautious and worried. I am sure you are one of the major shareholder hence you would not be as worried as i am.

B4b4 are you one of the major shareholders? Must be making good profit buying and selling Hibiscus shares.

I don't mind accumulating some provided i see progress. If there is no progress then i am doubtful. There must be something that is holding back. It swings like pendulum between 0.3 to 0.32. I guess the same people are buying and selling in large volume to create speculation in the market but i wonder how long will this last? And those who are buying and selling in large volume must be making very good money although it only appears to be 2 cents.

This counter is very strange because after so many so called good news, the share prices are still stagnant which simply means all these good news are not so good after all. Why can't the price move at least 2 cents each day until it hits its actual worth? Or is the shares really worth only RM0.30?

B4b4 it is too early to speculate anything or be too optimistic and confident. Let's wait and watch what is going to happen. I will be delighted if the prices are lifted up but i am very cautious.

I am not debating but stating the best possible thing that can happen if all four machines are operating. If as per PPA Unit 1 and 2 combined together can generate 350MW which is far less than my estimate earlier which simply means that the profit is slimming down. I am very worried as an investor. 30 Oct 2016 has passed and until now there is no news on the successful commissioning of the plant. The tariff can be revised again.

RM1 bil is impossible to achieve per machine. Assuming the machine is operating at 80% its capacity and minus 10% for internal use and other losses, the machine would be able to supply 70% of 350MW which is about 245MW. The demand must be there and 70% is a fair assumption. This value is taken assuming that the state is hungry for power. Now another assumption is how long the machine will operate. I will assume the machine is operating for 10 months for 24 hours a day. 65 days is allocated for the maintenance and other unplanned outages. Therefore the total estimated revenue is 245000kW x 24H x 300Day x RM0.33 = RM582.12mil. This is assuming power is purchased at Rs. 5 which is the highest value i think the state utility can offer. Now how about the coal supply and other operational cost? If the company is making 30% profit then the profit per machine is RM174.636mil. This is the max profit i can think of. Mudajaya has 26% share hence the profit will be RM45.405mil per machine. Therefore if all 4 machines are running and the state is hungry for power and is able to give Rs.5/kWH then Mudajaya will be earning approx. RM160mil annually max from this plant. I maybe wrong but anyone with both technical and financial background in power industry can correct me. The total project cost as per the ICRA is Rs. 8981 crore which is about RM5.88bil. Now see the figures, it is mind blowing and simple math is insufficient to prove that the company will benefit from this project. The more they delay, the more cost will incur and will result in crippling profit. My worry started when the company started delaying their commissioning because from the ICRA report the overall cost for the power plant was Rs. 6654 crore which is about RM4.36bil. The cost has increased as much as RM1.52bil or about 34%. For those who are not familiar, it cost about RM6.5bil to construct a new 1000MW state of the art super critical coal fired power plant. Look at Tanjung Bin project. It is one of Mudajaya's project. I hope some good news will be out soon to salvage the situation.

GM68, oil prices are not determined by region. There must be a reason why this company shares are so cheap and is struggling to move up. My next question, is hibiscus going to pay dividend for the so called profit they declared? It is a debt free company now as most of you claim and with such profit, they should be able to pay dividend.

If the share price doesn't climb now, then there is a chance it will never climb up because we do't know what will happen when Trump assumes office. Also if the price for Brent Crude hits above $55 then high chances that shale oil production will be increased.

400523 i agree with you. That is the best option i can see now to salvage the company from further debts unless all my assumptions and observations are wrong.

I still don't see any light yet else i will also board the ship like Alfonso and Ehl1964 to buy some and average down my share price. Although some news appears to be a relief, i am still in doubt because i am from power engineering background and i know how Mega projects can be screwed. I think the major problem in completing this project is either in the engineering, project management or financial management part. If the plant is completed, the company probably would have shared the pictures of the completed plant. Completing such a mega project is a milestone achievement and any engineering and construction company would be proud to add such an achievement into their portfolio although the plant is not energized (if the problem is other than what i stated above). Moreover, the company cannot pressure the utility unless they are fully ready for commissioning. These are purely my thoughts and assumptions.

I am still having doubt. It seems like the substantial share holders are holding back. Like yesterday the buy and sell volume is almost same. How come even with recent so called profit shown and OPEC deal, the share price is still hovering well below RM0.3? If this company is dead serious, i foresee the share price should have reached at least RM0.6.

Alfonso, are you accumulating? The price is climbing up.

Even the small profit will vanish if they delay the operation of the plant. The main question for Mudajaya stands, When are they going to commission the plant? I hope the price moves up too.

The questions that I raise are genuine questions that any investors would ask. Even the banks would ask the same before sanctioning a loan. The power plant will not go bankrupt but if the ROI is not feasible with the present situation then the consequences will be negative. The important thing is on what ground did the bank sanction the loan for this project? What is the agreement between the bank and the company? Will there be higher interest charged if the plant fail to start as per the COD? These sort of things will affect the profit of the company. The longer they delay, the smaller the profit which makes this whole project unsuccessful and unattractive.

The price isn't going up because the buy volume is as big as the sell volume. Does that mean that the substantial shareholders are not confident with the company? I do not see Hibiscus profit making at the moment. If it is truly profit generating the share price will certainly soar.

Now that OPEC agrees to curtail production, how high the price can go up? I think 1.2 mil barrels will not make a big difference moreover who is going to monitor the output from each country? With Trump planning to pump out oil from the US, i think the future of O&G industry will be questionable. Let's hope Trump makes a sensible decision that will not destroy this industry where smaller country depending on this sector will be highly affected.

Although the machine is rated at 360MW each, there is no way they are going to operate the machine at 360MW because of the internal use for the power plant and the supply will be according to the demand. If the demand is low they have to match the demand. Moreover the machines cannot operate throughout the whole year. There will be maintenance and downtime and this depends to the technology they are using. Primitive technology and maintenance method will result in longer downtime. So with all that in mind the value of 70 to 80 mil as income maybe possible but is it sufficient to cover up the loans? There are several questions the investors would want to know before deciding to buy or hold the stakes. At what stage of commissioning the project is at now and what is the major cause for the delay? Is there any design issues, financial issue or political issue that hinder the commissioning and completion? How is the company going to mitigate the identified issue? What about the operational and maintenance cost? Where is the source of coal supply for the plant from and what is the agreement with the coal mine? Are the coal price fixed? What is the ROI for this project? I suppose the cost has overrun due to the delays and how will the company turnaround this situation? Is it still possible to turnaround? These are the questions investors would want to know.