Posted by BobAxelrod > 2022-12-21 09:45 |

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Posted by brightsmart > 2022-12-21 09:49 | Report Abuse

q2 results were exceptionally profitable, at least at above the line level, is also partly a result of timing differences between rising oil prices and getting it reflected in revenue accounts as opposed to cost of manufacturing.

Posted by brightsmart > 2022-12-21 10:11 | Report Abuse

the whole episode is just because u use the so call crack spread without understanding how the crack spread relates to the company, how timing differennces are reflected in the accounts, how they do accounting entries for hedging and forward transactions.

Profit estimations are deceptively simple using those crack spread data but what actually gets reflected in the accounts is very complicated. ...and what happened is that your profit forecasts are way way off the mark.

Posted by brightsmart > 2022-12-21 10:14 | Report Abuse

Posted by Sslee > 30 minutes ago | Report Abuse

If you don't understand and don't ask questions then how you going to understand?

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too many hedging transactions, and also those crack spreads are not the primary sources of their transactions.

Posted by Sslee > 2022-12-21 10:22 | Report Abuse

The true is chinaman cannot be trust. Most likely the money is syphon out by paying a fraudulent high price for crude oil in Q3.

Posted by brightsmart > 2022-12-21 10:25 |

Post removed.Why?

Posted by brightsmart > 2022-12-21 10:26 | Report Abuse

why u say this hengyuan is chinaman but don't say Petron is filipino man? so racist.

Posted by brightsmart > 2022-12-21 10:30 | Report Abuse

IB do not cover these companies because they don't understand and do not want to be embarrassed...................................................they took the correct approach and correct attitude.

Posted by ks55 > 2022-12-21 10:31 | Report Abuse

Posted by Sslee > Dec 21, 2022 10:22 AM | Report Abuse

The true is chinaman cannot be trust. Most likely the money is syphon out by paying a fraudulent high price for crude oil in Q3.




Already proven time after time. Red chips are forever Red Chips. How can they become Blue Chips? You have to wait till you see cow jumps over the moon.........

Posted by BobAxelrod > 2022-12-21 10:35 |

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Posted by Sslee > 2022-12-21 10:45 | Report Abuse

How not to loss money when crude purchase in Q3 USD 136.453/barrel even higher then Q2 of USD 126.71/barrel when average Dated Brent dropped to USD 101/barrel in Q3 from the USD 114/barrel in Q2?

Posted by brightsmart > 2022-12-21 10:52 |

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Posted by BobAxelrod > 2022-12-21 10:53 |

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Posted by BobAxelrod > 2022-12-21 10:55 |

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Posted by BobAxelrod > 2022-12-21 10:56 | Report Abuse

Marty Byrde simply loves this super washing machine.....

Posted by brightsmart > 2022-12-21 10:56 | Report Abuse

Q3 cost of manufacturing is higher than q2 cost of manufacturing is not beyond my expectations due to delays and timing differences between oil prices and how they get reflected in cost of manufacturing

Posted by brightsmart > 2022-12-21 11:09 |

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Posted by Sslee > 2022-12-21 11:10 | Report Abuse

qqq3 the exact answer to my question during 2018 AGM.
0ur purchased lot size can range between 300,000 to 1 million barrels. We typically store between 2 - 3 million barrels of crude. Book inventories will also include sailing stocks for which titles have passed to HRC. Part of our operation planning include having sufficient inventory of each crude slate for more than a week's production.

Posted by BobAxelrod > 2022-12-21 11:15 |

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Posted by Sslee > 2022-12-21 11:15 | Report Abuse

Typical, crude oil price are benchmarked against dated Brent, dated Dubai or crude oil official selling price. The final agreed price will include a premium/discount to the benchmark.

Posted by BobAxelrod > 2022-12-21 11:15 |

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Posted by Sslee > 2022-12-21 11:41 | Report Abuse

If only the Q2 unrealised hedging losses in on Mogas92 crack spread then that unrealised hedging losses should had turned from liabilities into assets in Q3

But surprised the Q3 unrealised hedging losses still at more than RM 1 billion+

Posted by BobAxelrod > 2022-12-21 11:45 |

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Posted by BobAxelrod > 2022-12-21 11:47 |

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Posted by brightsmart > 2022-12-21 12:27 |

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Posted by Sslee > 2022-12-21 12:28 | Report Abuse

Bursa very fast response.

Dear Sir,

Reference is made to your e-mail on the above matter.

We have escalated the complaint to our line department concerned for their further action. The assessment into the matter you highlighted may take time, depending on the complexity of the issues raised. However, we will undertake the necessary actions to ensure that your complaint is looked into accordingly and will take the necessary enforcement actions if there is any breach of Listing Requirements.

As we do not play the role of ombudsman nor do we conduct arbitration, in the event of conflicts or financial losses, the aggrieved parties need to file the claims through the appropriate legal process in court.

We will also make the necessary referral to other relevant authorities should we come across any potential breaches of other regulations / Acts (other than the Listing Requirements).

Thank you and have a good day.

Bursa 2U
Bursa Malaysia Berhad
Our Ref: CAS-27923-D0K3D0

Posted by brightsmart > 2022-12-21 12:28 | Report Abuse

Posted by Sslee > 1 hour ago | Report Abuse

Typical, crude oil price are benchmarked against dated Brent, dated Dubai or crude oil official selling price. The final agreed price will include a premium/discount to the benchmark.

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but u still do not understand their primary documents for pricing and timing of sales/ purchases.

Posted by BobAxelrod > 2022-12-21 12:36 | Report Abuse

Aiyoh........Bursa standard Auto Reply ma.........

Posted by brightsmart > 2022-12-21 12:40 | Report Abuse

Q3 cost of manufacturing is higher than q2 cost of manufacturing is not beyond my expectations due to delays and timing differences between oil prices and how they get reflected in cost of manufacturing

u see huge unrealised loss below the line in q2 results....... u don't see huge derivative losses in q3.....a possible explanation is that these are forward transactions and accounted for in purchases during q3.

Posted by brightsmart > 2022-12-21 12:43 |

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Posted by brightsmart > 2022-12-21 13:31 | Report Abuse

d by Sslee > 2 hours ago | Report Abuse

Typical, crude oil price are benchmarked against dated Brent, dated Dubai or crude oil official selling price. The final agreed price will include a premium/discount to the benchmark.
=========

a lot of timing differences between sales and purchase prices.

Posted by Sslee > 2022-12-21 14:39 | Report Abuse

How ironic can it be when HRC naysayer like qqq3 suddenly become it strong supporter and defender.

qqq3 tell me you still hold how many HRC share and at what price?

Posted by brightsmart > 2022-12-21 14:56 |

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Posted by BobAxelrod > 2022-12-21 15:02 | Report Abuse

Walao...buy HY when oil prices suddenly shoots up.........like telling that Sugar is sweet.....or only women carries babies and men cannot.

Posted by brightsmart > 2022-12-21 15:05 | Report Abuse

BobAxelrod

5,954 posts

Posted by BobAxelrod > 1 minute ago | Report Abuse

Walao...buy HY when oil prices suddenly shoots up.........like telling that Sugar is sweet.....or only women carries babies and men cannot.
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stock market is not about who is the einstein, stock market is mostly about personality and whether the market suits your personality.

Posted by brightsmart > 2022-12-21 15:06 | Report Abuse

bob.........there is no necessity to reinvent the wheel each time I make money.

Posted by brightsmart > 2022-12-21 15:10 | Report Abuse

like HK shares.............now western media gang up to criticise China for its covid policies......................zero covid policy also criticise, open up also criticise. always cricise never miss the opportunity to criticise china but later will reverse and buy China shares. ..and cny angpow.................................

Posted by BobAxelrod > 2022-12-21 15:11 |

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Posted by brightsmart > 2022-12-21 15:12 |

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Posted by brightsmart > 2022-12-21 18:38 |

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Posted by BobAxelrod > 2022-12-21 20:23 | Report Abuse

Already replied the Feng Shui required for stocks investments mentioned by this fella few hours ago....but can't blame him, he's chinese educated, sometimes missed the message.....


Posted by BobAxelrod > 5 hours ago | Report Abuse

LOL...I shoot straight and never waver. When you are right, I say that's the truth....no need to camouflage.
And investments in stocks depends on personal "pat chi"??? That's something new...

Posted by Sslee > 2023-01-04 08:51 | Report Abuse

https://klse1.i3investor.com/blogs/Sslee_blog/2023-01-04-story-h-301981508-Hengyuan_HRC_Q3_2022_financial_report_enquiry_Part_II.jsp
Hengyuan: HRC Q3 2022 financial report enquiry (Part II)

Posted by qqq47660 > 2023-01-04 12:07 | Report Abuse

There are far worse shares in bursa

Posted by qqq47660 > 2023-01-04 12:10 | Report Abuse

$88 million pre tax profits for 9 months not too shabby for this company

Posted by Sslee > 2023-01-04 12:43 | Report Abuse

qqq3,
Why accept $88 million pre tax profits for 9 months when in the third quarter alone, Hyundai Oilbank’s operating profit skyrocketed by 226 percent on-year to 2.8 trillion won.

Posted by qqq47660 > 2023-01-04 12:57 | Report Abuse

sslee, don't be so silly................... Hyundai got make so much profits in q2 meh? its all timing differences and hedgings.

Posted by qqq47660 > 2023-01-04 12:58 | Report Abuse

sslee, don't be so silly................... Hyundai got make so much profits in q2 meh? its all timing differences and hedgings.

further more, u don't even know how Hy and hyundai fix their selling prices.

Posted by qqq47660 > 2023-01-04 13:08 | Report Abuse

and regarding AGM, I will encourage laymen to attend AGM of good quality companies and not attend AGM of lower quality companies. Its a one sided affair.....laymen will be sweet talk by CEo to buy more of their low quality shares.

Posted by qqq47660 > 2023-01-04 13:47 | Report Abuse

this ttb of icap has never treated minority shareholders as partners. ..................................so why attend AGM or even read their accounts? same for any lower quality companies such as Jaks, Insas, ............................................ many many more.


and that is the main thing. if u cannot smell a rat from far far away, and stay far far away, there is no end to troubles as Ceo all good in sweet talks up close.

Posted by stockraider > 2023-01-04 16:21 | Report Abuse

Aiseh!
Why attend Icap Agm leh ??

Got alot of free makan many many pretty girls at Icap mtg loh!

Posted by qqq47660 > 2 hours ago | Report Abuse

this ttb of icap has never treated minority shareholders as partners. ..................................so why attend AGM or even read their accounts? same for any lower quality companies such as Jaks, Insas, ............................................ many many more.


and that is the main thing. if u cannot smell a rat from far far away, and stay far far away, there is no end to troubles as Ceo all good in sweet talks up close.