Posted by Sslee > 2018-05-25 07:10 | Report Abuse

Dear bluebiznet,
If undervalue stock is what you look for then I strongly recommend you to buy up 32% (224 million of Insas share) and then during Next AGM proposed resolution: Share distribution on the basic of 1 Inari share for every 2 existing ordinary share of RM 1.00 each held in the Company.
After distribution: Insas still hold about 300 million of Inari share and you will hold about 32% Insas share and about 112 million Inari shares which you can sell to market and repay the loan.

Dear all,
I have reasonable evident that The Crack Spread is USD8+ and had email to the relevant manager with the evident (Sorry I cannot disclose this evident here)
I email HRC last night.
I start with: I had learned the lesson that nothing can be solved amicably during AGM due to time constraint. Thus the best way forward is to write in to HRC to seek consensus understanding. With that understanding in mind, I write in this email for clarification.
(The reasonable evident) then end with: Does this mean my remisier friend is right in insisting that he had monitor the crack spread daily for Jan-March 2018 and it should be USD 8+
Please clarify the above as soon as possible.
Thank you

Posted by Leonardo12 > 2018-05-25 07:19 | Report Abuse

Sslee, please share with us once you receive feedback from the relevant manager. Thanks

Posted by Dcmh > 2018-05-25 07:46 | Report Abuse

China co don’t waste time like what happened in hkse

Posted by lincm86 > 2018-05-25 07:52 | Report Abuse

Sslee, great job, looking forward to the response from HRC.

Posted by Sslee > 2018-05-25 08:07 | Report Abuse

Dear all,
My last night email consists of two parts first part is a thank you note and second part on seeking clarification Q1 financial report.
I enclosed the first part here:
Dear Mr. William Chen and Mr. Shyamkumar
(Chief Commercial Officer), (Finance Manager)

It is a great honor and pleasure to meet the Board, Manager Team during the HRC AGM this morning. Is it not my intention to create trouble or holding back the smooth running of AGM and EGM. I do not mean any bad intention or disrespectful to the Board or Management Team. I feel duty bound of the mandate given to me by not less than 50 totally stranger minority shareholders sending in the preformatted identical requisition (Formatted by me) for Resolution 11 and 12 and thus I am looking forward for the presentation of answers on my pre-send questions (I did not expect only answers to MSWG questions was presented for discussion during AGM and the answers to my questions will officially email to me in 2-3 weeks time). I was disappointed especially my special request: 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.

Without the presentation of solvency test calculation data I was denied the opportunity to pinpoint where we can improve or save cost and come to the consensus agreement that company at this stage cannot pay 43.5 cents dividend but can pay may be 15 cents dividend.

I agreed fully with Chairman Mr. Wong Youde explanation as major shareholder he too love to pay himself good dividend but as responsible major shareholder who run the business, he know best at current stage cash is needed for CAPEX commitment for further plant capacity, efficiency improvement and meeting the regulatory requirement. I thank him for acknowledges our minority shareholder need of better dividend and compliment him since takeover from shell in 2016 the EPS had improved tremendously RM 112 cents in 2016 and another RM 310 cents in 2017. It is my hope that despite a MTA in Aug 2018, 2018 will be another profitable year for Henyuang. Please send my warm regards to Chairman Wong Youde and if I unknowingly saying any offensive words that had hurt him during the AGM, I sincerely offer my apology.
Please seriously consider share split and bonus share to increase the free float of HRC share in order to stabilize the price of HRC share in the open market and thereby supporting its fundamental values during the next Board meeting.

My concern the official statement: 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 12months, 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 divided (43.5cents). This statement is very damaging aka to Tun M saying our national debt is 1 trillion, 65% of GDP without given specified or how to serve interest payment and pay back this debt had caused fear and panic in the capital market.

Thank you

Posted by feimah > 2018-05-25 08:35 | Report Abuse

The high inventory is unnecessary since they have revise the upgrade plan to Y19. My view is the mgmt is hiding the cash from investors.

The HRC mgmt worry that the resolutions 11 & 12 may passed yesterday.
Hence the mgmt has bump up the production and resulted to higher cost and lower profit in Q1.
Even it is passed investors wouldn't get the dividend.

I would say, this mgmt is untrustworthy and only care for their self.
25/05/2018 08:16

Posted by Lee Yih Yeong > 2018-05-25 08:38 | Report Abuse

otb voice up to buy....all in..

Posted by titus > 2018-05-25 08:52 | Report Abuse

Lee...u sure ah otb asked to buy......
i really can't understand his message because he like to contradict himself....

He say..... I will not recommend this stock anymore but then he say I will watch this stock again once the price is above 200 days SMA again.

Maybe could mean he will monitor and play himself .........hehe......

Posted by Lukesharewalker > 2018-05-25 08:54 | Report Abuse

Think uncle sold all already

Posted by Henly > 2018-05-25 09:08 | Report Abuse

Sslee,

Comment from Chairman very good indeed, good business sense, with this words I fully confidence under his leadership, HY will be better and better.


I agreed fully with Chairman Mr. Wong Youde explanation as major shareholder he too love to pay himself good dividend but as responsible major shareholder who run the business, he know best at current stage cash is needed for CAPEX commitment for further plant capacity, efficiency improvement and meeting the regulatory requirement

Posted by Henly > 2018-05-25 09:18 | Report Abuse

Sslee,

Thank you very much for all the effort, very kind of you to share

Posted by Henly > 2018-05-25 09:22 | Report Abuse

now HY already at bottom

Posted by thiagarajan81 > 2018-05-25 09:31 | Report Abuse

When people advise, "do not buy China Company share" i never listen... but now too late to regret..:-(

Posted by 3iii > 2018-05-25 09:44 |

Post removed.Why?

Posted by kaliaoki > 2018-05-25 09:45 | Report Abuse

KYY margin suspended by Maybank or IRD and now no money to trade

Posted by 3iii > 2018-05-25 09:50 | Report Abuse

>>>
bluebiznet Dear valued clients,


Hengyuan just reported Q1 2018 result today, please refer to the below link.

http://www.malaysiastock.biz/Corporate-Infomation.aspx?securityCode=43...


I had monitored Crack Margin almost everyday, the Crack Margin is almost USD8 on average, I cannot understand how the pretax profit is only 108.8 million only for Q1 2018.

In Q1 2017, the average Crack Margin was around USD 7, the pretax profit was 279 million.


I feel very disappointed that the management of Hengyuan has no credibility, hence I recommend to sell Hengyuan tomorrow. I will not recommend this stock anymore.

This stock had damaged my reputation.


I need to stick to my stock selection criteria, I cannot omit "Up trending" criteria. Once the price is below 200 days SMA, I have to stop monitoring this stock. I will watch this stock again once the price is above 200 days SMA again.

If I had followed my stock selection criteria rigidly , I would have avoid many unnecessary losses.


I need to apologize for this serious mistake. I will stick back to my old stock selection criteria.


Thank you.

Ooi
25/05/2018 05:18<<<<




>>>>I had monitored Crack Margin almost everyday, the Crack Margin is almost USD8 on average, I cannot understand how the pretax profit is only 108.8 million only for Q1 2018.<<<<


Please accept that this company's business is not within your circle of competence and you were unable to understand its complex business and its valuation. This will be more credible. Reread your posts when you first recommended at 6.00 and you will understand this ... I hope.

Posted by Henly > 2018-05-25 09:55 | Report Abuse

@3iii, you had been negative all the while here.so what decision you made ?

Posted by Alex™ > 2018-05-25 09:59 | Report Abuse

i3 prof is responsible to lecture only, no need make decision or buy call

Posted by Alex™ > 2018-05-25 10:01 | Report Abuse

i take this chance to thank probability sifu and otb sifu for sharing fundamental analysis of hrc, in which i benefit greatly last year. Were it not for their kind sharing, I don't think i will stumble upon this stock.

Posted by Henly > 2018-05-25 10:03 | Report Abuse

so ka, i3, is irresponsible,

Posted by Ooi Teik Bee > 2018-05-25 10:07 |

Post removed.Why?

Posted by 3iii > 2018-05-25 10:11 | Report Abuse

>>>My Appeal to Tun Dr Mahathir - Koon Yew Yin
Author: Koon Yew Yin | Publish date: Tue, 22 May 2018, 11:01 AM

Dear Tun,

If you look at this photo, you will remember that when you had a fundraising dinner in the Riverfront Hotel, Ipoh about 4 months ago, I donated Rm 200,000 and I made a speech to help you win the last general election.





I also have been physically and financially supporting DAP and Parti Amanah for many years. I also have been campaigning for the opposition in the last 2 general elections. As a result of these publicities, the previous Attorney General had branded me as a persona non grata. Three Income Tax officers from Kuala Lumpur raided my house and took away some files. The AG also instructed the Maybank Investment Senior Manager to withdraw the Rm 40 million margin facilities each for my wife and myself.

The Ipoh Income Tax Director, frozen my current account with Maybank. Now I do not even have a credit card and I find a lot of difficulties.

I had to appear before the Ipoh Income Tax director for questioning for almost 1 hour. He wanted me to submit my profit and loss monthly account for my last 7 years of share investment.

All I know is that profit from share investment is not taxable and in the history of Malaysia, no one has been tax before. This policy is to encourage Malaysians to invest in the local listed companies to help them make profit and pay more tax.

I am already 85 years old and my last drawn salary was 20 years ago when I was a director of IJM Corporation Bhd. That is why I did not submit my tax return in the last 20 years.

You will recall that about 6 months ago when you were campaigning in Pandang Rengas, Perak, I gave you a copy of my book, namely “Malaysia: Road Map for Achieving Vision 2020” which I published in 2011, about 7 years ago.





I also reminded you that you were our business partner when you founded Bumicar Sdn Bhd which eventually started the manufacture of Perodua cars in 1992. You sold your company to us when you became the Prime Minister.

I appeal to you to instruct the new Attorney General to stop the harassment so that I can see how you can achieve your vision 2020.

Yours Faithfully,

Koon Yew Yin, 22 May 2018<<<<



>>>I am already 85 years old and my last drawn salary was 20 years ago when I was a director of IJM Corporation Bhd. That is why I did not submit my tax return in the last 20 years.<<<<


Rather interesting.

Posted by joekit > 2018-05-25 10:12 | Report Abuse

aiya...where got business so transparent geh....how to do business? imagine kfc transparent n tell all their secret recipe.....imagine famous amos openly show u their secret recipe...imagine food business tells u what is hydrogenated vegetable oil and what it can do to ur health....all the business will pokai lor...hahahaha

Posted by lincm86 > 2018-05-25 10:13 | Report Abuse

Yesterday, we witness the annual general meeting and although the management has given many correct and legitimate answers to the shareholders, such as 1) keeping the 300+ cents EPS gained from financial year 2017 for growth and future prospects of the company, 2) limiting questioning from shareholders due to the need to comply to the exact schedule of the meeting...

It doesn't feel right for us to be in the meeting. After all, we got the "feeling" to lessen to speak, ask and seek clarification in a meeting that is convene only once a year. Perhaps the purpose of agm was not to seek clarification and understand the company better other than to approve the "usual business" such as re-electing directors to continue to work, 2) Approve director fees (less the justification on the fees), 3 Approve the auditors etc...

Although things are done rightly and abide to the rules of law, agm is a place where shareholders are dealt with, convinced and encouraged to support the views of the company. Dealing with people requires more than to be technically right and handle the emotional part of people. The management of shareholders was done very badly.

Such as, when you "forcefully" carry on with the meeting when a shareholder is speaking to meet your schedule, shareholders feel as though their rights to speak was taken away and was ashamed. If the situation was managed professionally like many other companies there would not be so many shareholders leaving with a feeling of disappointment and distrust.

But the damaged has been done. Image of trust was shattered...
If one day HY is out of debt and amass huge cash reserve, there is a wonder if they ever share it or use the same sentences again (keep for growth of company).

Posted by Henly > 2018-05-25 10:14 | Report Abuse

The refinery business is highly capital intensive and very long term business. The business require consistency. Any politically interruption, supply and demand interruption will cost dearly to the business.
The delay in HY projects is understandable and smart decision to delay the projects in view of general election. Now it is every thing is clear.

Posted by Ooi Teik Bee > 2018-05-25 10:15 | Report Abuse

Daily Crack Margin report

Formula
MOPS Mogas 95 - $81.284 - Singapore Mogas 95 (cmegroup) - 2 parts
MOPS Gasoil - $83.933  - Singapore Gasoil (cmegroup) - 1 part
Brent Crude - $74.06 - oilprice.com/oil-price-charts - 3 parts

3:2:1 crack spread = ($162.57 + $83.93 - $222.18) / 3 = $8.11 

Date Mogas 95 Gasoil Brent Margin
18/5/2018 87.88 91.05 78.67 10.27
21/5/2018 87.88 91.05 78.98 9.96
22/5/2018 88.25 90.89 79.36 9.77
23/5/2018 88.43 91.26 79.24 10.13
24/5/2018 88.32 90.97 79.84 9.37
25/5/2018 88.09 91.00 78.89 10.17

Do I need bluebiznet to teach me to calculate crack margin ?

Thank you.
Ooi

Posted by joekit > 2018-05-25 10:17 | Report Abuse

thats coz shareholders wanna ask too many sensitive information ma...ms heng ma very shy to divulge all in public lar...hahahaha

imagine ur staff forcing u to naik gaji and pay bonus...u punya muka sure more sour than asam boi

Posted by Alex™ > 2018-05-25 10:19 | Report Abuse

our money, of coz we ganjiong ma, if not why invest in a company that keep hiding?

i tot there is exception to china con company, i really hope hrc is an exception.

Posted by joekit > 2018-05-25 10:22 | Report Abuse

actually hengyuan now is just a toddler....still growing....still building foe future growth....how to force it to grow up now? wait few years lar....wait lar....

Posted by Henly > 2018-05-25 10:36 | Report Abuse

@Ooi teik Bee, if use your technical approach, you will not recommend a buy call. Crack spread is only one part of the refinery business no doubt it is importance parameter. This QR we have surprises but if you compare with Petron of the same industry. Both produce lower than expected result.
Looking forward, The petro and diesel prices will be fixed and with the subsidy from Govern. HY QR will be improved

Posted by Jon Choivo > 2018-05-25 10:46 | Report Abuse

Mr Ooi is one of the good people of I3.

But please do not forget, he is 70% trader and 30% investor. When one is trading, one is essentially speculating and gambling.

Nothing wrong with it, as long as you are doing it intelligently and you are aware of the pro's and con's.

And Mr Ooi is one of the best traders in Malaysia.

Size your bets accordingly.

Do not sailang on his picks, maximum, put 50% of your networth in Bursa, and put maximum 15-20% on each picks (5-6 stocks).

And remember, traders do best in bull but die in bear, especially when you cannot short over longer periods.


======================================================================
Posted by Ooi Teik Bee > May 25, 2018 10:15 AM | Report Abuse

Daily Crack Margin report

Formula
MOPS Mogas 95 - $81.284 - Singapore Mogas 95 (cmegroup) - 2 parts
MOPS Gasoil - $83.933 - Singapore Gasoil (cmegroup) - 1 part
Brent Crude - $74.06 - oilprice.com/oil-price-charts - 3 parts

3:2:1 crack spread = ($162.57 + $83.93 - $222.18) / 3 = $8.11

Date Mogas 95 Gasoil Brent Margin
18/5/2018 87.88 91.05 78.67 10.27
21/5/2018 87.88 91.05 78.98 9.96
22/5/2018 88.25 90.89 79.36 9.77
23/5/2018 88.43 91.26 79.24 10.13
24/5/2018 88.32 90.97 79.84 9.37
25/5/2018 88.09 91.00 78.89 10.17

Do I need bluebiznet to teach me to calculate crack margin ?

Thank you.
Ooi

Posted by Lee Yih Yeong > 2018-05-25 10:47 | Report Abuse

buy in buy in ...otb is back

Posted by kentwoon > 2018-05-25 10:58 | Report Abuse

Sell first, next year come back

Posted by st0ckraider > 2018-05-25 11:03 | Report Abuse

this otb last time said he still hold hengyuan, now said sold 17 ... no integrity

Posted by Henly > 2018-05-25 11:05 | Report Abuse

buy now for next QR

Posted by Henly > 2018-05-25 11:10 | Report Abuse

Ha ha Dragon interesting. guess-timate QR-50sen EPS 1.8 share price target 10.8

Posted by st0ckraider > 2018-05-25 11:10 | Report Abuse

follow OTB, eps 80

Posted by kentwoon > 2018-05-25 11:19 | Report Abuse

Next Qr -28

Posted by st0ckraider > 2018-05-25 11:25 | Report Abuse

apa lar ... said me fake raider ?i mean follow otb analysis on crack spread

Posted by Lukesharewalker > 2018-05-25 11:32 | Report Abuse

HY crack spread is below the average CME futures by 50%. nothing is gonna happen for HY until year end. Sleepy stock

Posted by Lukesharewalker > 2018-05-25 11:36 | Report Abuse

Dangerous stock. Potential RM4

Posted by qqq3 > 2018-05-25 11:38 | Report Abuse

q2 making losses

Posted by ongmari > 2018-05-25 11:44 | Report Abuse

when can move...???

Posted by GoodBoy > 2018-05-25 12:04 | Report Abuse

Another round of bad news or tension between USA/China/NKorea could cause price to drop to 6.0 ... otherwise could be trading around 7.0 ...

Posted by titus > 2018-05-25 12:09 | Report Abuse

wahh....dragooon is back.....mana hilang?....went to lay eggs ah?

Posted by Henly > 2018-05-25 12:18 | Report Abuse

Tun M already said will subsidize petro and diesel, price unchanged now

Posted by moneypedia > 2018-05-25 12:27 | Report Abuse

aiyo this guan eng somethin wrong, wrong judgment on account untill all investors run...aiyoo very amateur politician

Posted by enid888 > 2018-05-25 12:40 | Report Abuse

The exceptional high crack spread (profit margin) for the last one and half years was due to the blue sky policy of China and low crude oil price. Those low efficiency and heavy polluting crude oil plants were forced to close down in China. Therefore, the profit margin increases because of low total production capacities available in the market.

However, a few new and huge plants in China are coming onstream since beginning of the year and for the next few years. In addition to that, there will be also a huge plant in RAPID, Johor (JV between Petronas and Aramco) which will be operational in 2019. I believe the crack spread (profit margin) will normalise gradually for the next one to two years.

Posted by moneypedia > 2018-05-25 12:44 | Report Abuse

adoiii, ya ka dragon, aku denga figute only 53 % gdp maaa....mana satu betui ni....actually aku boring tgk market nak masuk takut, pelabur pun jadi takut suda lari maa....boring...xpe nnti aku selidik balik...dragon...

Posted by moneypedia > 2018-05-25 13:03 | Report Abuse

aiyoyo yaka dragon, direct terus dia ckp smpai semua investors lari....xpa2 tgk nnti harap temporary...olait2