wongcheehui83

wongcheehui83 | Joined since 2021-11-04

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2022-10-26 23:40 | Report Abuse

now is far ald......

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2022-10-14 06:46 | Report Abuse

extremely under value now

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2022-10-06 06:41 | Report Abuse

After dividen ex date. epf move in ald

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2022-09-28 22:08 | Report Abuse

RSI shown downwaed to oversold again

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2022-09-27 20:39 | Report Abuse

suddenly up at the end.... 0.015

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2022-09-27 06:47 | Report Abuse

got news keep pop up meaning that will up soon

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2022-09-25 23:08 | Report Abuse

sold land worth Rm 440 million.... now cash rich ald

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2022-09-15 15:21 | Report Abuse

dont worry la.... sime property is giant ma

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2022-09-12 07:24 | Report Abuse

。。。。。。。。

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2022-09-08 09:29 | Report Abuse

today will 0.095

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2022-09-07 22:59 | Report Abuse

standby only lo

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2022-09-06 22:56 | Report Abuse

let see tmr what happen

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2022-09-06 16:03 | Report Abuse

end of today will go till 9.5

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2022-09-06 15:18 | Report Abuse

moving fast now

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2022-09-06 15:16 | Report Abuse

aRe u all ready to fly?

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2022-09-06 10:29 | Report Abuse

many block at 0.09....
quickly clear

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2022-09-05 20:22 | Report Abuse

let we guess. this week go till which level?????

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2022-09-02 15:50 | Report Abuse

going to merge

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2022-09-02 15:30 | Report Abuse

dead fish alive. come back ald

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2022-09-01 14:51 | Report Abuse

coming. got ppl try to acquire this company

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2022-08-27 23:33 | Report Abuse

bull market, u got any new style a?

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2022-08-26 07:29 | Report Abuse

i ald accumulated a lot

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2022-08-26 07:29 | Report Abuse

let see today performance

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2022-08-23 23:09 | Report Abuse

Qr is tmr ma......

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2022-08-22 21:22 | Report Abuse

tmr up or down?

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2022-08-21 22:01 | Report Abuse

although it will up due to this and new director la

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2022-08-21 22:00 | Report Abuse

oooi. u got new sentence or not??? sien ler

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2022-08-18 16:55 | Report Abuse

slow slow la....... haiyo

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2022-08-17 23:57 | Report Abuse

most likely at 8 cent then stable ald. can slowly accumulate

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2022-08-14 00:39 | Report Abuse

i feel someone rushing sell at 8 cent and someone rushing buy at 8 cent

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2022-08-14 00:10 | Report Abuse

but i feel something not right.....
in 4 days continuous, MACD keep crossing, parabolic SAR look like will further drop, RSI increase back to 40 (borderr line). Chop zone still red.... MACD all the while positive value

never see this kind of trend

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2022-08-10 20:05 | Report Abuse

today got a lot news

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2022-08-10 15:29 | Report Abuse

a lot blockage at 8 cent ......

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2022-08-10 14:39 | Report Abuse

let see this few days

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2022-08-10 14:39 | Report Abuse

got story come out ald

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2022-08-09 19:26 | Report Abuse

for sure will pump up lor

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2022-08-09 19:25 | Report Abuse

not new low la.... previous is 7 cent....

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2022-08-08 22:35 | Report Abuse

OVERWEIGHT Call on the Sector

We maintain our OVERWEIGHT call on the O

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2022-08-08 22:32 | Report Abuse

Velesto Energy - Jack-up Market is Booming
Publish date: Tue, 05 Jul 2022, 04:44 PM
Velesto rebounded from its weakest quarter in 1Q21 with utilization rate rising to 39% in 1Q22, boosting its revenue by 76% YoY and paring down its losses by 24%.
We believe Velesto is on the cusp of turnaround as it has secured a long term 2 1 1 year contract with Petronas for all its rigs. Besides that, higher regional DCR relative to local DCR would reduce competition from foreign players for local projects, in our view.
Reiterate our BUY call on Velesto with a TP RM0.28. Velesto risk-to-reward is really attractive given its stock price that is currently lagging crude oil prices.
Asset Utilisation Rate Rebounded Off its Low

Velesto recorded a marked improvement in 1Q22 after revenue jumping by 76% YoY to RM77.4m on the back of higher jack-up rig utilisation rate (UR) of 39% (vs 1Q21: 28%). While this is still less-than-optimal for UR, it helped to reduce its core loss by 24% YoY to RM46m (1Q21: LAT RM61m). Notably, 1Q21 UR of 28% was its weakest since the start of the pandemic in April 2020.

The Worst is Truly Over…

We expect a much stronger 2H22 earnings as the company has secured new work orders for its NAGA 2 and NAGA 6 rigs from Vietnam and Petronas Carigali. We believe this will push its UR to above 70% which will help the company to record quarterly profits from 2H22 onwards. Overall, we see light at the end of tunnel for Velesto after it secured a long-term 2 1 1 years umbrella contract from Petronas for all 6 rigs beginning 1Q22. Note that Velesto is the sole rig provider that has secured this type of contract from Petronas. Thus, any work order from Petronas will directly translate into revenue, though the overall utilisation would still depend on Petronas’ drilling schedule as well as availability of the rigs. Notwithstanding that, full asset utilisation is likely in near future as demand is projected to be strong. Based on Petronas Activity Outlook 2022-2024, Petronas expects demand for jack-ups to stand at 9/9/16 units in FY22F/FY23F/FY24F. On top of that, rising demand from the Middle East has led to tight supply in South East Asia (SEA) - resulting in higher daily charter rate (DCR) in the region as compared to local DCR. We gathered that regional jack-up rig marketed UR stood at 92% vis-à-vis 73% for local rigs in April 2022. There are more idle rigs in the region being reactivated including Sapura Energy’s tender rigs which confirms a tight market condition.

Maintain BUY call with TP of RM0.28

Reiterate our BUY call on Velesto with unchanged TP of RM0.28 pegged at 1x FY22F P/B. We believe Velesto’s turnaround is around the corner premised on (i) rising demand for jack-up rig and therefore, recovery in UR and (ii) normalise COVID-19 cost to improve bottom line as the country enters into endemicity.

Source: BIMB Securities Research - 5 Jul 2022

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2022-08-08 22:32 | Report Abuse

Velesto Energy - Jack-up Market is Booming

Publish date: Tue, 05 Jul 2022, 04:44 PM

Velesto rebounded from its weakest quarter in 1Q21 with utilization rate rising to 39% in 1Q22, boosting its revenue by 76% YoY and paring down its losses by 24%.

We believe Velesto is on the cusp of turnaround as it has secured a long term 2 1 1 year contract with Petronas for all its rigs. Besides that, higher regional DCR relative to local DCR would reduce competition from foreign players for local projects, in our view.

Reiterate our BUY call on Velesto with a TP RM0.28. Velesto risk-to-reward is really attractive given its stock price that is currently lagging crude oil prices.

Asset Utilisation Rate Rebounded Off its Low

Velesto recorded a marked improvement in 1Q22 after revenue jumping by 76% YoY to RM77.4m on the back of higher jack-up rig utilisation rate (UR) of 39% (vs 1Q21: 28%). While this is still less-than-optimal for UR, it helped to reduce its core loss by 24% YoY to RM46m (1Q21: LAT RM61m). Notably, 1Q21 UR of 28% was its weakest since the start of the pandemic in April 2020.

The Worst is Truly Over…

We expect a much stronger 2H22 earnings as the company has secured new work orders for its NAGA 2 and NAGA 6 rigs from Vietnam and Petronas Carigali. We believe this will push its UR to above 70% which will help the company to record quarterly profits from 2H22 onwards. Overall, we see light at the end of tunnel for Velesto after it secured a long-term 2 1 1 years umbrella contract from Petronas for all 6 rigs beginning 1Q22. Note that Velesto is the sole rig provider that has secured this type of contract from Petronas. Thus, any work order from Petronas will directly translate into revenue, though the overall utilisation would still depend on Petronas’ drilling schedule as well as availability of the rigs. Notwithstanding that, full asset utilisation is likely in near future as demand is projected to be strong. Based on Petronas Activity Outlook 2022-2024, Petronas expects demand for jack-ups to stand at 9/9/16 units in FY22F/FY23F/FY24F. On top of that, rising demand from the Middle East has led to tight supply in South East Asia (SEA) - resulting in higher daily charter rate (DCR) in the region as compared to local DCR. We gathered that regional jack-up rig marketed UR stood at 92% vis-à-vis 73% for local rigs in April 2022. There are more idle rigs in the region being reactivated including Sapura Energy’s tender rigs which confirms a tight market condition.

Maintain BUY call with TP of RM0.28

Reiterate our BUY call on Velesto with unchanged TP of RM0.28 pegged at 1x FY22F P/B. We believe Velesto’s turnaround is around the corner premised on (i) rising demand for jack-up rig and therefore, recovery in UR and (ii) normalise COVID-19 cost to improve bottom line as the country enters into endemicity.

Source: BIMB Securities Research - 5 Jul 2022

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2022-08-04 19:30 | Report Abuse

majority bank also ask buy ma... scare what

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2022-08-04 19:27 | Report Abuse

be patient...... will up geh.... coming this month

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2022-08-02 09:56 | Report Abuse

look like will boom up. want? fast buy