Petron Malaysia: Gains strong momentum in final quarter. Petron Malaysia Refining & Marketing, received a 4Q boost that propelled its 2016 full-year profit to surpass the previous year’s figure. The company said the net profit of RM112.6m in 4Q -- which was much higher than the RM16.2m net profit during the same period in 2015 -- was the company’s best performance for the year. “The strong results were driven by the 13% growth in sales volume which grew to 8.3m barrels from the 7.3m sold in the same quarter in 2015,” the company said. The board recommended a final dividend of 22 sen per share for the financial year just ended, up from 20 sen in FY15. (StarBiz)
that's why yesterday I said too optimistic. a lot of traders just wanted to have a piece of it, then panic sell since they thought can fast in fast out. retracement is good for serious investors to accumulate
Brent Oil per barrel: Oct 2016: $50 Nov 2016: $46 Dec 2016: $54 = rm112 mil
Jan 2017: $55 Feb 2017: $55 Mar 2017: ??? = rm??? mil
Not to forget we pay a higher price for RON95 this month. If oil price stays stable above $50 in March, most likely we will see good profits in Petron's Q1FY17 report in May.
Any profits above rm60 mil (Q1FY17), will bring its PE to 5.94 at current share price $6.18. Reasonable PE to trade at PE 7. Possible profit of 15%.
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....
zoizai
1,477 posts
Posted by zoizai > 2017-02-24 07:30 | Report Abuse
Today rm7?