This only happens in Malaysian market KLSE. Hengyuan does not deserve to be trading below its book value. Nearly -30% book value. This is unjustified and therefore a price target of RM8.5 is extremely reasonable with strong margin of safety. In other markets, even the WORST oil refinery is trading at at least +/- 10% book value
Despite crack spread dropping from previous high 9+, HengYuan still spike up… WuChang is right on HengYuan… Congrats HengYuan shareholders, scooping the bottom!
We don’t believe HengYuan refinery can make more profits compared to Hibiscus, direct beneficiary from high oil price! This clearly showed that market is going the opposite of our beliefs! 当所有人都疯狂的时候,你必须保持冷静。
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....
risktoreward
990 posts
Posted by risktoreward > 2021-09-23 22:55 | Report Abuse
yes... the bear is still roaring in hengyuan