LOL 12m IDSS today. burned

Can you IDSS trade on the Hibiscus-WC?

need to remind people MYEG is profitable business with government contracts. as far as the contracts are not 'retendered' like gamuda then we can calmly drink tea and watch it rise.

lol.. we made headlines..
https://www.thestar.com.my/business/business-news/2018/10/09/hibiscus-petroleum-buying-50pct-stake-in-north-sea-blocks-for-rm156m/

oh, thanks @Icon66 and @speakup.. what happened to 'portfolio diversification'? :thinking:

Can someone explain what "sailang" is?

Dr K.. don't mess with my Hibiscus stock or I will finish you off.. famous words

IDSS at 2.2mil volume.
I think IDSS people quite worried since recently a few IDSS suspensions, LOL. I wonder how it affects people who already sold? They are forced to buy at close price or what?

last time this happen to inari, epf sell I sell. then epf buy I gg. can't always track EPF buy/sell because sometimes they sell to rebalance their index. EPF sell 385k, volume 1.7m yesterday, OK la. got other people trading too.

We need to remember what we paid for.. Hibiscus is a Special Purpose Acquisiton Vehicle (SPAC). Their job is to determine what oil wells are profitable and good to buy. Basically their business is to study the market and existing oil wells and see where they can buy low sell high, like us. So if they buy low sell high properly, we all make money. I guess the most important question is if we can trust Dr. K's judgement. If yes and track record is good, buy Hibi, otherwise goreng other OG counter.

They're too small to fight with Shell/Petronas/BP in doing the whole oil discovery -> oil extraction -> purification -> plant dismantling etc.

I think bad short term, good long term. O&G business takes time ma. In short term, the money flow out for Anasuria to buy P.198 BLOCKS 15/13A AND 15/13B. But long term, we got more bpd and thus more revenue.

Too bad can't pay the p198 with negative goodwill :-P

KUALA LUMPUR: MY E.G. Services Bhd (MyEG) has unveiled a blockchain-based payroll management software, PayMe, to assist companies in recording and managing workers’ overtime accurately and efficiently.

In a statement filed with Bursa Malaysia, the e-government service provider said pilot trials would start soon at selected sites.

PayMe, a monthly subscription service, is designed specifically for companies that employ a sizeable workforce with dynamic remuneration.

MyEG aimed to sign up the existing corporate customers of its various services as users of PayMe, it said.

“Leveraging the benefits of blockchain architecture is one of MyEG’s core focus presently. We believe that MyEG is well positioned to deploy industry-wide blockchain solutions that maximise the potential of the distributed ledger,” said Managing Director TS Wong.

The company said blockchain architecture was ideally suited to resolve the prevailing inefficiencies in payroll management in view of the immutability of the technology, where data could not be unilaterally altered once recorded.

Furthermore, it added, the distributed nature of blockchain meant stakeholders would have full access to the data, ensuring transparency and minimising the possibility of potential disputes.

Not bad la, I think MYEG knows what its strengths are and are working on it to keep it cutting-edge. We shall have to see whether PayMe contributes to revenues or not.

The Board of Directors wishes to announce that MY E.G. Capital Sdn. Bhd., a wholly-owned subsidiary of the Company had on 8 October 2018, incorporated a wholly-owned subsidiary known as PayMe Sdn. Bhd. (“PayMe”) under the Companies Act 2016.

The intended principal activity of PayMe is the provision of human resource management and payroll solutions.

The above incorporation does not have any effect on the issued and paid-up share capital of the Company and has no material effect on the earnings and net assets of the Company and its subsidiaries for the financial year ending 30 September 2019.

None of the directors and/or substantial shareholders of the Company, or persons connected to such director and/or substantial shareholder has any interest, direct or indirect, in the said incorporation.

This announcement is dated 8 October 2018.

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

The Board of Directors of the Company wishes to announce that the Company had on 5 October 2018 launched a blockchain-based payroll management software, known as “PayMe”, to assist companies in recording and managing workers' overtime in a more accurate and efficient manner.

Please refer to the attached press release for further details.

This announcement is dated 5 October 2018.

Lol, 2018 4 quarter cummulative profit was RM203k. The acquisition cost is USD 37.5m or RM155.5m.. Easily can be consumed by the group..

I guess because interest rate going up, so Dr. K decide to use his own money.
But I'm afraid about next quarter QR P/L now...

>clp72 if i am not mistaken, last quarter they did not sell any oil, hence coming QR would be a bumper for them...
why did you say they didn't sell any oil? I'm curious where you found this?

Brent oil price of USD73.95, USD77.01 and USD80.41 per bbl for 2022, 2023 and 2024
respectively (2017: USD73.44, USD76.70 and USD79.56 per bbl for 2022, 2023 and 2024
respectively) and 2% (2017: 2%) premium to Brent oil prices; and,
--pg 72

The negative goodwill had been recognised in profit or loss in the financial year ended 30 June 2018.The transaction resulted in a gain as the Group has the skill sets and capabilities to enhance the value of the assets post acquisition. As a result, the fair value of the assets is greater than the
purchase consideration.

--pg 67

This weekend can slowly read lah..

Hibiscus Petroleum Berhad_Audited Financial Statements 30 June 2018.pdf
http://www.bursamalaysia.com/market/listed-companies/company-announcements/5934745

EPF throw, director catch.

Lol a lot of insider director buying today.
05-Oct-2018 Insider NG KWENG CHONG HOLDINGS SENDIRIAN BERHAD (a substantial shareholder) acquired 4,000 shares on 05-Oct-2018.
05-Oct-2018 Insider NG KWENG CHONG HOLDINGS SENDIRIAN BERHAD (a substantial shareholder) acquired 4,000 shares on 04-Oct-2018.
05-Oct-2018 Insider NG KWENG CHONG HOLDINGS SENDIRIAN BERHAD (a substantial shareholder) acquired 4,000 shares on 03-Oct-2018.
05-Oct-2018 Insider NG KWENG CHONG HOLDINGS SENDIRIAN BERHAD (a substantial shareholder) acquired 4,000 shares on 02-Oct-2018.
05-Oct-2018 Insider EMPLOYEES PROVIDENT FUND BOARD ("EPF BOARD") (a substantial shareholder) disposed 251,500 shares on 02-Oct-2018.
05-Oct-2018 Insider MADAM GOOI MEI HOON (a substantial shareholder) acquired 4,000 shares on 05-Oct-2018.
05-Oct-2018 Insider MADAM GOOI MEI HOON (a substantial shareholder) acquired 4,000 shares on 04-Oct-2018.
05-Oct-2018 Insider MADAM GOOI MEI HOON (a substantial shareholder) acquired 4,000 shares on 03-Oct-2018.
05-Oct-2018 Insider MADAM GOOI MEI HOON (a substantial shareholder) acquired 4,000 shares on 02-Oct-2018.
05-Oct-2018 Insider GENERAL PRODUCE AGENCY SDN BERHAD (a substantial shareholder) acquired 4,000 shares on 05-Oct-2018.
05-Oct-2018 Insider GENERAL PRODUCE AGENCY SDN BERHAD (a substantial shareholder) acquired 4,000 shares on 04-Oct-2018.
05-Oct-2018 Insider GENERAL PRODUCE AGENCY SDN BERHAD (a substantial shareholder) acquired 4,000 shares on 03-Oct-2018.
05-Oct-2018 Insider GENERAL PRODUCE AGENCY SDN BERHAD (a substantial shareholder) acquired 4,000 shares on 02-Oct-2018.
05-Oct-2018 Insider MR NG KWENG CHONG (a substantial shareholder) acquired 4,000 shares on 05-Oct-2018.
05-Oct-2018 Insider MR NG KWENG CHONG (a substantial shareholder) acquired 4,000 shares on 04-Oct-2018.
05-Oct-2018 Insider MR NG KWENG CHONG (a substantial shareholder) acquired 4,000 shares on 03-Oct-2018.
05-Oct-2018 Insider MR NG KWENG CHONG (a substantial shareholder) acquired 4,000 shares on 02-Oct-2018.
05-Oct-2018 Insider MR NG KWENG CHONG (a company director) acquired 4,000 shares at 2.460 on 05-Oct-2018.
05-Oct-2018 Insider MR NG KWENG CHONG (a company director) acquired 4,000 shares at 2.520 on 04-Oct-2018.
05-Oct-2018 Insider MR NG KWENG CHONG (a company director) acquired 4,000 shares at 2.540 on 03-Oct-2018.
05-Oct-2018 Insider MR NG KWENG CHONG (a company director) acquired 4,000 shares at 2.520 on 02-Oct-2018.

lol, let them short la, we also buy if we think it's cheap, we sell if we think it's expensive. all they need is one big smart money to eat their shorts.

Tomorrow again must be cautious. all my US equities in red.. scared it will spread to HSI and KLCI again.

nahh, IDSS is a must. let them short, so we can buy cheap! :-D

5.9m

haha, IDSS lose money today. padan muka.

current 21day SMA is at 2.25 so there is 5% to the SMA support level.

For me, no, first FA says sell. Then TA says sell.

FA says sell unless next quarter profit > 70mil to cover last 2 quarters underperformance, otherwise next QR will be red again. QR-1 was 57mil, QR-2 was 55mil, not sure if they can reach the 70 mil. If yes, I will buy back after QR released. There is a lot of good news for 5G, IoT and Broadcom chips used in the latest Apple products, but I need management to execute first otherwise I will be on the sideline.

TA says sell because last weeks price-volume actions show that buyers believe INARI hit a support. So there was a rebound and there was an upward trend over 3 weeks. So they retest Jun's high resistance level around RM 2.43. Then at the resistance level, bears sold out and not enough bulls to break resistance level, indicating a pattern reversal. Furthermore, volume declined over this period. Two days doji also supports the theory that the market was indecisive in supporting the uptrend, so buying pressure reduced and the current trend reversal is a sell signal.

Disclaimer: Do your own research and due diligence. This is just the author's opinion. I currently don't own any INARI.

ayak..8.52 no sell. sien. nvm. wait for 4.30 again. :P

For a newcomer, I wouldn't rely on forum. Come forum only after you made up your own informed opinions using FA/TA and company research due diligence. Many lost money hearing random people give buy calls or sell calls.

love this thread. keep got bulls and bears, optimisics and skeptics, buyers and sellers

@GM68, ya all holding tickets tightly

a lot of uncertainty now. let's just be patient and wait for trend.

hang seng also red. sien.

FBMKLCI turned red. be cautious.

its good that it's blocked that 1.30. they might be clearing their stock from yesterday's low price. Then later it might shoot up.
Yesterday we saw price rally in early trading, then press down till 4pm. Today maybe the opposite?

doesn't demerger mean that Carlo Rino business will be removed and cash flow will decrease? Or is Carlo Rino the loss making section? Or will the net outstanding shares be reduced to improve EPS?

http://www.bursamarketplace.com/mkt/tools/research/ch=research&pg=research&ac=536481&bb=548103
Interesting report..
HIBISCUS risk is primarily based on the variable returns; but as a shell SPAC company, I think that investors already expect the initial volatility while waiting for the FPSO vessels and investments to pay off.

anasuria 5000bpd?

hmmm..a lot of director insider buying going on.. stock is trading sideways and has a resistance near RM 2.50... time to slowly collect?