Campaigning in Batu Pahat are made relatively smooth due to the fall out of Fuad Zakarshi from being selected by umno....most have supported light blue eye.... Light blue eye could be seen almost everywhere..... Hidup Pakatan Harapan
Done with Batu Pahat.... Now I am heading with my team to Muar....my beloved hometown.... Syed Saddiq and Muhyiddin Yassin teams are waiting to welcome us... Light blue eye all the way....
Buddha & Jesus Christ says thou shall love ur self more loh...!! In order to do that ye need to make monies...to give your family & yourself a good life and contribute to the society and nation loh...!!
You need to pick a good stock this PRU 14 to make monies mah...!!
VOTE FOR HENGYUAN, THE BEST AND MOST UNDERVALUE CHINA CONTROL LISTED COMPANY IN SOUTH EAST ASIA.
Whether BN or Pakatan WINS....... HY is here to stay loh....!! This HY business is in a very steady consumer high volume repetitive business mah....it has got strong economic moats and cashflow loh..!!
Hy is the the most competitive refinery in the world, very difficult for anyone to challenge loh....!!
Hy can only go up from now loh...!!
UNDI LAH HENGYUAN....COMPANY PILIHAN PALING BEST ANDA LOH...!!
Actual attachment send to Henyuan Corporate Affairs E-mail this noon. Questions in BOLD
Attachments file 1: Questions for Hengyuan AGM.
1. REVIEW OF FINANCIAL REPORT 2017.
Inventory a. Crude oil RM 653,215,000
b. Petroleum products RM 432,524,000
Less: Reversal/ (allowance) for inventories RM 482,000
RM 433,006,000
c. Materials RM 24,093,000
Allowance for inventories (RM 369,000) –
RM 23,724,000
Total RM 1,109,945,000
Included within crude oil is stock in transit as at 31 December 2017 of RM 149,492,000.
Q1. Hengyuan PD site have 11 crude oil tanks. May I know what the total capacity of crude oil tank is?
Q2. Crude oil RM 653,215,000 is how many barrel and occupied how many % of storage capacity and can last for how many days production requirement? Our crude oil supply is partly covered by a 5-year crude oil supply agreement (COSA) with Shell International Eastern Trading Company (SIETCO) signed in 2016.
Q3. For year 2017 how many millions barrels of crude oil purchased? How many is from (SIETCO)? Any price formula and minimum and maximum quantity off take and credit terms? Each purchased is by what lot size and covered for how many days production requirement? Our sources of crude supply include Malaysia (32%); Russia (11%), Far East, Middle East and Africa (57%).We have also focused on building more relationships with the crude supply network in the region and globally to benefit from competitive pricing. We successfully negotiated additional crude oil supply with several local and regional crude oil producers and traders.
Refer: As an independent refiner, HRC is cognisant of refining margins and foreign exchange (FX) risks that could hamper our financial performance. The decision to hedge and limit the risk exposure from these market movements is to achieve a more consistent financial performance.
Q22. For 2018 what will be the plan for Refining margin hedge? Forward foreign currency hedge? Forward priced commodity hedge? In term of % hedge? Refer: AmInvestment Bank Independent Advice Circular is dated 19 January 2017
We understand that SRC in 2014 did not find it viable to carry out the upgrades required for Euro 4M and Euro 5 fuel specifications resulting in an impairment to the Company’s assets of RM460.9 million in the audited financial statements for the FYE 31 December 2014. The impairment was due to the lower estimated future cash flows as SRC’s products had to be exported to countries with lower fuel standards thereby incurring higher transportation costs, coupled with a finite lifespan of the refinery plant production without capital investment for Euro 4M and Euro 5 fuels. Discussion on a potential reversal of the impairment loss is set out further below.
Q23. With the completion of Atlas II and Euro 4M Mogas project will board able to recover this RM 460.9 million impairment loss in the audited financial statements for the FYE 31 December 2014? Q24. Any advantage or disadvantage in Tax credit, cash flow and etc to claim back this impairment loss? Q25. The POA with Shell Malaysia Trading Sdn Bhd for a period of 10 years, commencing from 22 December 2016 will safeguard sell till 22 Dec 2026. After this period will Hengyuan able to compete with China refinery products flooding the SEA market?
Large companies are encouraged to adopt integrated reporting based on a globally recognised framework.
Suggestion 1: To publish in company website monthly summary of: Month opening stock include Crude oil and finished products inventories Full month crude received. Average cost USD per barrel. Full month Products dispatched. Month average refining margin USD per barrel. Month average stockholding gains/losses USD per barrel. B. Practice 12.3
Listed companies with a large number of shareholders or which have meetings in remote locations should leverage technology to facilitate– including voting in absentia; and remote shareholders’ participation at General Meetings.
Suggestion 2: The AGM minutes to be published in the company website.
Maybank investment Bank Berhad only holds 2,184,000 shares.
Q1. Any rule and regulation regarding issuing of call warrant? Q2. Small free float of Hengyuan shares: With issue share capital of 300,000,000 shares and public shareholding spread of approximately 48.98 % or 146,940,000 shares. Hence many syndicates were feeding greed to push up the price, after they have sold their shares then spreading (false news) fear to push down the price and collect back cheaply and repeat the vicious circle of greed and fear again. These robbers had robbed many innocent investors of their life saving. This had to be stopped. I suggest board decide now to increase issue share capital with share split, bonus share, free warrant and ESOS? 6. Dividend.
Ordinary Resolution 11 and Ordinary Resolution 12
11. Requisitioned resolution to approve a final single tier dividend of 43.5 cents per share in respect of the financial year end 31 December 2017.
12. Requisitioned resolution to approve a formal dividend policy of allocating at least 15% of the Company’s profit after tax, excluding exceptional items to be distributed to its shareholders as dividend payment.
Pursuant to Sections 131 and 132 of the Companies Act 2016, the Board wishes to highlight that the distribution of dividend to shareholders can only be made if the following conditions are met:
– the distribution of dividend can only be made out of the Company’s profits available if the Company is solvent;
– the Directors must authorise the distribution of dividend before it is made by the Company to its shareholders; and
– the distribution of dividend can only be made if the Directors are satisfied that the Company will be solvent and is able to pay its debts as and when the debts become due within twelve months immediately after the distribution of dividend is made to its shareholders.
Having considered the proposal and conducted a solvency test on the Company by taking into account the liquidity and cash flow projection of the Company for a period of 12 months, the Board has formed the view that the Company may not be able to satisfy the solvency position within 12 months following the proposed distribution of dividend if it is made to the shareholders and hence, any distribution of dividend of such a quantum will be in contravention of Sections 131 and 132 of the Companies Act 2016.
Recommendation
For the reasons stated above, the Board considers that the Ordinary Resolution 11 and Ordinary Resolution 12 are not in the best interests of the Company as a whole, and therefore recommends that you vote against Ordinary Resolution 11 and Ordinary Resolution 12.
Q1. Many companies listed in Bursa do have a formal dividend policy as this dividend policy is not something new or unusual. Please clarify Ordinary Resolution 12 is not in the best interests of the Company as a whole. This consideration applied only for financial year end 2017 as in future when things improve Board will consider a formal dividend policy? Q2. Please present the solvency test calculation during the AGM and I shall present my fair and objective opinion and let everyone judge for themselves whether to vote for or against resolution 11 and 12.
Current assets/Current liabilities= 2,875,154/695,412 = 4.13 Current assets/Non-current liabilities=2,875,154/1,167,947= 2.46 Current asset/Total liabilities= 2,875,154/(695,412+1,167,947) = 1.57 PETRONM
CURRENT ASSET = RM 1,596,977,000
CURRENT LIABILITIES = RM 1,111,499,000
NON-CURRENT LIABILITIES = RM 99,738,000
Ratio:
Current assets/Current liabilities= 1,596,977/1,111,499 = 1.43 Current assets/Non-current liabilities=1,596,977/99,738= 16.01 Current asset/Total liabilities= 1,596,977/(1,111,499+99,738) = 1.31 Final Dividend 25 cents per share
In the Board opinion comparing these two companies:
Which Company may not be able to satisfy the solvency position within 12 months following the proposed distribution of dividend if it is made to the shareholders?
Buddha & Jesus Christ says thou shall love ur self more loh...!! In order to do that ye need to make monies...to give your family & yourself a good life and contribute to the society and nation loh...!!
You need to pick a good stock this PRU 14 to make monies mah...!!
VOTE FOR HENGYUAN, THE BEST AND MOST UNDERVALUE CHINA CONTROL LISTED COMPANY IN SOUTH EAST ASIA.
Whether BN or Pakatan WINS....... HY is here to stay loh....!! This HY business is in a very steady consumer high volume repetitive business mah....it has got strong economic moats and cashflow loh..!!
Hy is the the most competitive refinery in the world, very difficult for anyone to challenge loh....!!
Hy can only go up from now loh...!!
UNDI LAH HENGYUAN....COMPANY PILIHAN PALING BEST ANDA LOH...!!
Perhaps HY management delayed the upgrade project to see the outcome of election first just to see the future of Chinese investment prospect in Malaysia.
Meeting the people and canvassing for support and at the very same time meeting old friends and relatives in Muar is very comforting.... Light blue eye all the way....
It has been very hectic for me since I left home on 27th April to help light blue eye mission to conquer Johor.... I left behind my home and my wife for the past 9 days already.....long live PH... Light blue eye all the way....
Posted by Tongkarat > May 5, 2018 02:44 PM | Report Abuse
It has been very hectic for me since I left home on 27th April to help light blue eye mission to conquer Johor.... I left behind my home and my wife for the past 9 days already.....long live PH... Light blue eye all the way....
welcome to JOHOR AND ESPECIALLY BOOMING ISKANDAR
LIM KIT SIANG IS HERE ALSO!
SO BETTER SHIFT AND MIGRATE TO ISKANDAR WITH YOUR FAMILY!!!
U NEED TO UNDERSTAND...HOW CRACK SPREAD WORK MAH ?....!!
SUPPOSE BRENT WAS USD 67....THEN IT SUDDENLY...IT SHOOT UP TO USD 73...AS A REFINERY PREVIOUSLY U R SELLING AT USD 67 + 8 = USD 75, U CANNOT SIMPLY ADJUST TO USD 73 + 8 = USD 81, WHEN BRENT SIMPLY SHOOT UP MAH....!! THERE ARE LAGGING EFFECT TO THE PASS ON LIKE ABOUT 1 TO 2 MTH LOH....!!
RAIDER IS IN FACT IS AMAZED WHY THE CRACK SPREAD ONLY FALL LESS THAN USD 1 WHEN THE ACTUALLY REFINED SELLING PRICE IS NOW REVISED UPWARDS FROM USD 75 TO USD 81 OR USD 6 PER BARREL LOH...!!
THE MAIN REASON, IS THE VERY STRONG PRICING POWER OF THE REFINERY LIKE HY, THATS WHY THE DIFF ONLY USD 1 LOH...!!
THIS DIFF IS MORE THAN MAKE UP BY BRENT V WTI CRUDE DIFF OF USD 5 TO 6 AND PLUS THE CURRENT HY INVENTORY GAIN LOH...!!
Posted by dragonslayer > May 3, 2018 11:53 AM | Report Abuse
Aiyo Tech Spec...itu paperplane...no integrity one lah....last time used Buttspread to promote HY...now...throw away the Buttspread anology...tipu other innocent investors lor...cutwin dapat FOC saham....now...all regret lor...Buttspread left half only....how lah....he pui buttspread nowadays...maan ada integrity one...buttspread down say cannot pakai anaymore...must accept buttspread ada up....ada down..it will affect margin mah...everyone also know...mainstream paper tulis a lot oredy....analysts also cakap...affect margin one...this paperplane...only know pui buttspread...cannot accept low buttspread one...wakakaka....kikiki
LU BODOH MAH....!! HY ANNUAL REPORT 2017 SAYS CRACK SPREAD USD 8.4...AVG WHOLE YR ALREADY MAKE RECORD PROFIT EPS RM 3.10 IN 2017.
NOW CRACK SPREAD USD 7.30 VERY LOW MEH ??
DON TIPU OLANG LOH....!!
Remember 3iii & probability have no interest & exposure on hengyuan, do u think they will properly advice u leh ?? Infact they had bad faith bcos of jealousy loh...!!
BUT NOT GENERAL RAIDER LOH....WE R THE INVESTORS OF HY,WE R IN THE SAME BOAT LOH...AND YOUR INTEREST IS SAME AS MINE MAH !!...DEFINITELY MORE QUESTION U ASK....THE BETTER ....FOR HY INVESTOR MAH....!!
BE STREET SMART MAH.....!! DO NOT GET CONNED LOH...!!
Posted by stockraider > May 3, 2018 03:21 PM | Report Abuse X
DO NOT LET THE BOARD OF DIRECTORS TO ABUSE YOUR RIGHTS TO QUESTION LOH...!!
STAY FIRM WITH YOUR RIGHTS TO QUESTION LOH....!!
SMALL OR VERY BIG SHAREHOLDERS HAVE EQUAL RIGHT TO QUESTION THE BOARD DURING AGM MAH....!!
Posted by hellbender > May 3, 2018 03:04 PM | Report Abuse
wah sslee you so many questions... might as well you skip this company. You never attend AGM before ah? You only have chance to ask 1 - 3 questions max... otherwise the chairman will ask you to sit.
Posted by stockraider > May 3, 2018 03:17 PM | Report Abuse
RUBBISH LOH...!!
IF U ACT LIKE MSWG...U R FUCKING REDUNDANT MAH....!!
BCOS MSWG WILL BE ASKING QUESTION TOO MAH....!!
U SHOULD BE BETTER THAN MSWG LOH...!!
Posted by John_Lee > May 3, 2018 03:15 PM | Report Abuse
This is not a common occurrence but I agree with 3iii.
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Posted by 3iii > May 3, 2018 03:01 PM | Report Abuse
SSLEE
You should be like the MSWG. They just ask a few most relevant questions.
U CAN NEVER FIND A SO UNDERVALUE CO IN KLSE WITH PE 3X LIKE HY MAH...!!
U NEED TO NOTE HY BUSINESS ARE HUGE VOLUME REPETITIVE CONSUMER BUSINESS MAH.....!!
AND HY IS THE MOST COST COMPETITIVE REFINERY IN THE WORLD MAH....!!
ALL HY PRODUCTS ARE SOLD TO SHELL MARKETING LOH....!!
UNDER THIS SITUATION, IT IS HIGH VOLUME REPETITIVE CONSUMER BUSINESS AND WITH A VERY COST EFFECTIVE MANUFACTURING IN HY, IN ADDITION ALL ITS PRODUCTION VOLUME IS TAKEN UP BY SHELL, U CAN BE SURE HY SHOULD BE ABLE TO GENERATE STRONG CASHFLOW AND PROFITS FOR THE NEXT 30 YRS LOH......!!
DO NOT MISS THIS UP & COMING UNDERVALUE BLUECHIPS HY WITH ONLY PE 3X LOH......!!
Posted by Bull > May 3, 2018 05:07 PM | Report Abuse
HY is under correction. Time to look for counter which has lower risk and higher potential gain.
RAIDER COMMENT; FINALLY HENGYUAN HAS CONFIRMED THEY HAVE RECEIVED THE QUESTION FROM SSLEE LOH....!!
Posted by Sslee > May 3, 2018 04:31 PM | Report Abuse
Dear all, Email already send out during lunch time and received whatsapps message from Mr. Surya. Dear Mr. Lee, We received the said email with thanks and we have incorporated the list of questions as part of the AMG's Q&A. Looking forward to meeting you.
Buddha & Jesus Christ says thou shall love ur self more loh...!! In order to do that ye need to make monies...to give your family & yourself a good life and contribute to the society and nation loh...!!
You need to pick a good stock this PRU 14 to make monies mah...!!
VOTE FOR HENGYUAN, THE BEST AND MOST UNDERVALUE CHINA CONTROL LISTED COMPANY IN SOUTH EAST ASIA.
Whether BN or Pakatan WINS....... HY is here to stay loh....!! This HY business is in a very steady consumer high volume repetitive business mah....it has got strong economic moats and cashflow loh..!!
Hy is the the most competitive refinery in the world, very difficult for anyone to challenge loh....!!
Hy can only go up from now loh...!!
UNDI LAH HENGYUAN....COMPANY PILIHAN PALING BEST ANDA LOH...!!
No, not true about Jesus Christ stockraider. “What is written in the Law?” he replied. “How do you read it?” He answered, “ ‘Love the Lord your God with all your heart and with all your soul and with all your strength and with all your mind’ ; and, ‘Love your neighbor as yourself.’ ” “You have answered correctly,” Jesus replied. “Do this and you will live.” Luke 10:26-28 NIV https://bible.com/bible/111/luk.10.26-28.NIV
alot of people know how to read, but don know how to interpretloh...!!
Luke 10:26-28 NIV 26 “What is written in the Law?” he replied. “How do you read it?” 27He answered, “ ‘Love the Lord your God with all your heart and with all your soul and with all your strength and with all your mind’; and, ‘Love your neighbor as yourself.’” 28 “You have answered correctly,” Jesus replied. “Do this and you will live.”
IF U READ ABOVE...IT TELL U TO LOVE GOD THE MOST LOH...!! THIS GIVEN AS GOD IS THE MOST IMPORTANT IN YOUR LIFE MAH....!!
BUT THEN GOD SAYS LOVE YOURSELF MOST AFTER GOD MAH....!! AND TRY TO LOVE OTHERS AS U LOVE YOURSELF MAH...!!
IS TRUE MAH...U NEED TO INTERPRET PROPERLY LIKE RAIDER LOH...!!
Posted by 1796089373749992 > May 5, 2018 04:01 PM | Report Abuse
No, not true about Jesus Christ stockraider. “What is written in the Law?” he replied. “How do you read it?” He answered, “ ‘Love the Lord your God with all your heart and with all your soul and with all your strength and with all your mind’ ; and, ‘Love your neighbor as yourself.’ ” “You have answered correctly,” Jesus replied. “Do this and you will live.” Luke 10:26-28 NIV https://bible.com/bible/111/luk.10.26-28.NIV
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....
GoodBoy
6,594 posts
Posted by GoodBoy > 2018-05-05 11:35 | Report Abuse
Short term pain ... long term gain ... Support PH ... Vote PH for a better future ...