Posted by eyewitness > 2017-08-24 20:49 | Report Abuse

Would not "theoretical unrealised stock loss" become actual loss when converted from stock to actual sales later?

Posted by Flintstones > 2017-08-24 20:50 | Report Abuse

Good. Someone should send FutureEyes this article which is an example of quality writing!

Posted by Flintstones > 2017-08-24 20:52 | Report Abuse

Hehehe. Buy at own risk lor. Probability, paperplane and david paper gain from refinery stock is already enough to beat many top fund managers lah. It is a matter of earn more or earn less only

Posted by Good_stock > 2017-08-24 22:05 | Report Abuse

David, well done again. So informative this piece of work which no analysts in town will have the capability and skills near you.

Keep it up again and thank you for sharing.

Posted by supersaiyan3 > 2017-08-24 22:08 | Report Abuse

Totally agree!!

Moreover, in a weak economy environment, Petron with integrated and leaner structure(fewer staffs in both operation and retail stations) will win over the longer term.

Posted by paperplane > 2017-08-25 00:26 | Report Abuse

David, your are too nice! Don't spoon feed those idiots here. Let them make noise and panic sell.

Posted by paperplane > 2017-08-25 00:28 | Report Abuse

Actually, I have a very good research rpt saying about Philippines and it's future. Oil consumption is one of the area. Now I understand why Philippines wanna expand their refinery capacity. Because in near future, they might have constraints meeting the increasing demand! It is growing at a scary pace there now!
Then u understand why petronm and Corp decided to expand! I doubt their game plan will be even Philippines expansion of capacity is not enough to meet the demand,so they have to expand Malaysia also just in case iMport is required in future .

Posted by paperplane > 2017-08-25 00:31 | Report Abuse

By the, you can expect high div yield for future years to come, as petronm need to upstream their. Cash or div back to Philippines to expand!
So I doubt petronm will have low div, it will be stably more and more only log! With their position in net cash, they can even pay more dividend now!
Imagine 300mil to 400mil a yr, free cash flows after capex, expenses etc. That's RM1 per yr. Even half use to pay div also 0.50 per share

Posted by Newmaster > 2017-08-25 07:08 | Report Abuse

Wow, really impressive with the FCF. Add more again and again when price drop and dumb dumb hold till next year......why not ? Just need a little patience.

Anyway, thanks David for your king sharing, keep up the momentum.

Posted by Flintstones > 2017-08-25 08:04 | Report Abuse

Between Petron and Heangyuan, I think petron is one stock that can hold tight for many years. Yes, the refinery business is volatile but lets just imagine 10 years down the road. The refinery capacity will be much bigger. There will be more petrol kiosks. Management has created RM 1 billion in value over 3 years. If history is of any sign, another RM 3 billion will be created in the next 10 years.

Posted by Bizfuneng > 2017-08-25 08:08 | Report Abuse

Wonderful report. Tq David. Petronm today fly high, high.

Posted by yfchin66 > 2017-08-25 08:28 | Report Abuse

Just check with one of the Petronm employee, there is catalyst shutdown during 26/April to 27/May, Sumato88 is right about this.During shutdown Petronm bought gasoline from Singapore, so the cost of sale is higher.
Q3 will be better.
Anyway, David report is professional class. Thanks.

Posted by SALAM > 2017-08-25 10:18 | Report Abuse

Thank you Dav for the wonderful sharing. Appreciate..Lets hope for the delivery......

Posted by investor77 > 2017-08-25 14:02 | Report Abuse

Excellent sharing. Dont know why price fall when results out, but still a good share for investment by PE, ROE, FCF standard.

Posted by tecpower > 2017-08-25 15:07 | Report Abuse

Dnex is good as well. Oil price has been rebounding.

Posted by SALAM > 2017-08-25 17:37 | Report Abuse

Dnex more shaky business - crude price & government contracts etc...
Petron more consistent and stable business..

Posted by klphoon55 > 2017-08-25 17:46 | Report Abuse

Good analysis. Neatly done and very convincing.