A friend bet with me that the price will be lower than 4.90 by Jun 18. So if the price closes @ 4.90 or higher on that date, he will buy me a lunch/dinner & vice versa...Have a feeling that even if the cutoff was set @ 5.00, I will still win the bet!
On Thursday I will be attending Petron's physical shareholder meeting for the first time since 2019, revelling in the $1,351.92 profit earned from trading the stock in '22, the small trading profit this year & the large dividend to be earned in '23 =)
Please do me a favor to minitor what are the answers given to my send in advance questioons for the AGM. I would not be attending the AGM as I need to standby at my worksite for next week for plant operating system audit by external auditors.
Please also convey my well wishes and hello to: MR. MANOJ DEVADASAN General Counsel / Company Secretary / Manager-Human Resources/Compliance Officer
(June 15): Boustead Holdings Bhd. is considering divesting its gas stations in Malaysia and is seeking as much as RM2 billion, according to people with knowledge of the matter.
So how much the Petronm retail petrol service stations worth?
Dear MR. MANOJ DEVADASAN General Counsel / Company Secretary / Manager-Human Resources/Compliance Officer
My profound apology for not been able to attend the Petronm’s 64th AGM yesterday to personally thanks BOD and Management team for a job well done in making another profitable year 2022 with increased EPS of 111.3 cents (FY 2022) Vs 88.3 cents (FY2021) and reward shareholders with increase dividend of 25 cents (FY2022) Vs 20 cents (FY 2021)
My absence is due to my work commitment in preparation for FSSC 2200 Recertification by SGS Thailand Auditors.
Once again my thousands of apologies and my well wishes that the AGM yesterday went well as planned.
I am writing in this letter to request if it is possible for you to email me answers to my submitted in advance Petronm’s 64th AGM questions?
Or I will need to wait for Petronm to publish Petronm’s 64th AGM Key matters discussed at Petronm website?
I am indeed sorry we could not meet you in person yesterday. But we fully understand that your work commitments would have made it a challenge for you have attended in person.
I nevertheless met your friend at the AGM and informed him that we will be addressing your questions.
As mentioned at the AGM as we had several questions of a similar nature sent in in advance, we grouped those under similar topics (in the interest of time management at the AGM to also allow for questions from the Floor).
In regard the Summary of proceedings (and the questions and answers), we plan on having the same published on our website per the CG Code requirements.
In regard your request, it might be better if we provide our responses to ALL questions including those asked at the AGM so that all shareholders (those who attended or otherwise) will have a fuller picture of all the interesting discussions we had, including eg. questions on EV vehicles and possible challenges to our industry in the future etc. So your kind indulgence to wait a little would be appreciated Sir.
Again, thank you for your continued strong support and your (clearly passionate) interest in Petron Malaysia. I will give you a heads up when the Summary is published on our website.
Dear MR. MANOJ DEVADASAN General Counsel / Company Secretary / Manager-Human Resources/Compliance Officer
Thank you very much for your quick response to my email and I appreciate it a lot.
I understand and value your principle of equal dissemination of information and access of information to all Petronm’s shareholder thus I will be eagerly waiting to read “ALL questions including those asked at the AGM so that all shareholders (those who attended or otherwise) will have a fuller picture of all the interesting discussions we had, including eg. questions on EV vehicles and possible challenges to our industry in the future etc” when it is published on Petronm website
Thank you Wishing you a happy and enjoyable weekend
SSLee, are u the same guy as the one who asked a lot of questions at the Rhonema AGM & then told the moderator off because she tried to limit the no. of questions you were asking???
SOLD 15% of my Petron @ 4.71 after bagging the largest dividend ever from this co. in my 29 years of trading. Even after the recent re-purchase, my overall cost is $4.58.
=> Crude will still be used for the next 70 years. main reason is all countries, even US does not have ANY money to upgrade power gen and grid.
For Petron specifically, the sale of landed property in 70 years time will generate profits that will exceed by far the Grand Total of 120 years of annual Profits of Petron koong kang konng kang refine and sell petrol. In 70 years time shareholders of Petron will get a bonus dividend exceeding hundreds of thousands of RM per share. The trend is for EV charging moving towards malls, so all landed property of Petron will be sold off at cheap cheap auction price and given as BONUS to shareholders. Property selling RM30,000 about 70 years ago now goes above RM2,000,000.00 today Property selling RM5,000 about 90 years ago now sells for above RM10,000,000.00
So where is the terminal value aka liquidation value when you get a bonus of exceeding RM100,000.00 per share from Petron?
What disruption? so you need to check ah today its 101,000 bonus and check again tomorrow ah its 99,000 bonus I dun call that as disruption.
so many things we use today are made from petroleum products. til the day we can use hologram shadows as tools, we still need petroleum products. without profits, these refinery complexes will be shut down and we will be out of tools to carry day to day tasks. do you think we can produce biodegradable plastics at a really cost effective scale? don't forget, why do so many countries want to claim territorial waters? it's all about what is beneath the ocean floor. EV or climate change is just a distraction to the current petrodollar "crisis" narrative. oil is still king. hail the king!
agreed so far all bio plastics just dun have the required chain length to do a proper job and usually costs 2 to 10 times more than plastics from crude oil.
the next change akan datang is coming from Fusion Reactors where we can do carbon-carbon linking via compression to make crude oil economically cheaper and cleaner to environment compared to drilling.
Companies like Bumi Armada has no future in the future once fusion goes mainstream in 70 years time.
I3lurker, I am glad and have a good laugh that someone/many unwelcome are coming to my blog comment page to expose themselves naked for all to see their ugly, good-for-nothing, worthless, soulless D.
You need a magnifying glass to look for the D. LOL
Nowadays the local economy is so sickly, hardly anyone thinks medium, let alone long-term anymore. Almost all investor want fast money...who can blame them given that the majority of politicians are on 'suck $' mode, endemic since Mahathir days?
Just for complete transparency, I SOLD another 15% in the high 4.60s this morning. The remainder no more paper profit so gotta hold for medium- to long-term...
Saudi Arabia cut the official selling price of oil sent to Asia by 25-cents to +$2.55, according to reports.
Eamonn flagged this earlier, noting that it was expected to be cut by 40-cents (though some saw as much as $1). So that's minorly bullish and comes after three consecutive months of increasing the OSP. Still, a price cut doesn't speak to a market that's undersupplied, nor does the recent price action in crude. It plunged to $63.64 in a blowout early in Asia, though WTIcrude oil is back to $68.17, it's still down 39-cents on the day and 10% on the week
I briefly heard about Petron intending to takeover all of BHP stations for RM2b. Is that confirmed? Is that worth it? Won't it be better to pay off shareholders dividends?
That will depend on the number of CODO and DODO stations need a very detailed analysis and usually such info are deliberately hidden from shareholders.
I believe sslee also trying get same info for Petron as well. Good Luck to sslee
sheldon
I briefly heard about Petron intending to takeover all of BHP stations for RM2b. Is that confirmed? Is that worth it? Won't it be better to pay off shareholders dividends?
MUAR (June 27): The Ministry of Domestic Trade and Cost of Living (KPDN) has approved 1.09 million litres of petrol and diesel as an additional quota for this year’s Aidiladha.
Minister Datuk Seri Salahuddin Ayub said the quota involved 311,000 litres of RON95 petrol and 783,000 litres of diesel for strategic locations across the country.
He said the ministry is aware that there is a possibility of an increase in fuel consumption, following the Aidiladha holiday until Sunday.
“KPDN has approved the bulk quota for this month to be distributed to the three main petrol companies, namely Petronas (529,000 litres of petrol and diesel), Petron (320,000 litres of petrol and diesel) and Chevron (245,000 litres of petrol and diesel).
THE mechanism of an overall targeted fuel subsidy is close to being finalised, with discussions at 75% progress and just a few issues remaining, says Datuk Seri Ahmad Maslan.
The Deputy Finance Minister said among them is the method of implementation.
The decision (to implement targeted subsidies) has been agreed in principle. However, details about it are yet to be finalised. On whether the method is to use identification cards, special cards, or the car’s engine capacity, it is not yet decided,” he said, referring to RON95 and diesel targeted subsidies.
Ahmad said the government was also aware of concerns about the parameters for deciding the socio-economic classification.
“We are aware there are concerns about the classification, especially among those on the borderline of T20. There are other considerations that we need to deliberate about such as the number of dependencies,” he told the reporters after attending a signing ceremony yesterday. Ahmad, however, hinted that the completed mechanism could be presented during the tabling of Budget 2024.
New IPO: The onshore and offshore support services provider for the O&G industry, Steel Hawk Bhd aims to list on the Ace Market!
MQ Trader 2904 views | 2 d ago
0:17
New IPO: The largest mini-market player and a leading groceries retailer in Malaysia, 99 Speed Mart Retail Holdings Bhd aims to list on the Main Market!
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
dompeilee
11,888 posts
Posted by dompeilee > 2023-06-08 16:55 | Report Abuse
Ultimately, it's a Filipino co. not a Malay co.