Posted by searchingmoney > 2022-05-30 19:36 | Report Abuse

New way of accounting to avoid windfall tax?

Posted by subwayzzz > 2022-05-30 19:38 | Report Abuse

Possible

Posted by searchingmoney > 2022-05-30 19:38 | Report Abuse

guys...look for bigger pix...qr not good doesn't mean end of the road...

Posted by tigerroar38 > 2022-05-30 19:42 | Report Abuse

What you guys worrying?? US Valero and Marathon Petroleum is at its All time High price!

The fact remains the same: Global refineries is way under supply. And the War would not be ending so soon.

In short,

Demand >>>> (way more) then supply.

Looking at 500m Gross Profits tells you everything. And is just the beginning of it.

Posted by Russel > 2022-05-30 19:44 | Report Abuse

Congrats, results announced, rise RM0.38 (6.01%), Market won't be wrong

Posted by nicholas99 > 2022-05-30 19:45 | Report Abuse

Might be move the cash to somewhere else to avoid windfall tax.

Posted by nicholas99 > 2022-05-30 19:46 | Report Abuse

Only pn17 or huge debt will limit down lol.

Posted by nicholas99 > 2022-05-30 19:47 | Report Abuse

And hengyuan already retrace quite a lot. If you noticed

Posted by Jerichomy > 2022-05-30 19:48 |

Post removed.Why?

Posted by Jerichomy > 2022-05-30 19:48 | Report Abuse

Like subur tiasa

Posted by Jerichomy > 2022-05-30 19:49 |

Post removed.Why?

Posted by nicholas99 > 2022-05-30 19:50 | Report Abuse

Good play also. This quarter press down price.. then buy in. Then next quarter record profit. Limit up.

Posted by ngjack1991 > 2022-05-30 19:50 | Report Abuse

Really a creative accounting. Hibiscus is accounting to make profit look much better but hengyuan is opposite. Inventories increase 1.1 billion compared to last quarter and 2 times of last year same quarter. Typical China man company press down profit to avoid tax

Posted by nicholas99 > 2022-05-30 19:52 | Report Abuse

Inventories also is asset. Use money to buy 1. It's oil. Can sell 1. Haha

Posted by blackgold77 > 2022-05-30 19:52 | Report Abuse

tmr drop to 0.005 la ok...

Posted by Jerichomy > 2022-05-30 19:52 |

Post removed.Why?

Posted by nicholas99 > 2022-05-30 19:54 | Report Abuse

he hedge.. May 2022 crack spread actually went up. Nice bet?

Posted by ngjack1991 > 2022-05-30 19:54 | Report Abuse

Inventory written down of 131 million also a bit weird. The commodity pricing is on uptrend from January to March yet they record inventory written down. The more you look in depth of report, the more it look creative accounting. Perhaps they want to press down the price then back back the 10% share that approved during agm

Posted by OTB > 2022-05-30 19:54 | Report Abuse

Posted by ngjack1991 > 2 minutes ago | Report Abuse

Really a creative accounting. Hibiscus is accounting to make profit look much better but hengyuan is opposite. Inventories increase 1.1 billion compared to last quarter and 2 times of last year same quarter. Typical China man company press down profit to avoid tax
------------------
Agreed.
I expect inventory gain and end up show 131 million inventory loss.
Really cannot understand.
Thank you.

Posted by GrowthCapitalist > 2022-05-30 19:55 | Report Abuse

HAHA, aSB OR EPF OR KWSP OR PENSION FUND, THESE ib'S ARE nothing. Go check biohlding and how much the price has plunged? pointless just looking at these IB's. That's the last thing i would see from them especially.

Posted by ngjack1991 > 2022-05-30 19:57 | Report Abuse

Anyhow regardless of the report, most people look at the value only when buy or sell so very likely tmr will drop. Although realistically business performance is compare to same quarter last year but those who want to make price drop will compare with last quarter instead

Posted by nicholas99 > 2022-05-30 19:58 | Report Abuse

Yes..last year two quarters negative. If this year can maintain positive for sure outperform last year.

Posted by probability > 2022-05-30 19:59 | Report Abuse

2 possible reasons...

1) Kerosene has life span. The aviation industry did not took off as expected and was not consumed in time.

2) The Russian crude they bought from russia say in Jan 22'could be the one blocked by Malaysian govn from loading in Mar 22 - resulting in cancellation charges or loss in down payment paid



Posted by OTB > May 30, 2022 7:54 PM | Report Abuse

Posted by ngjack1991 > 2 minutes ago | Report Abuse

Really a creative accounting. Hibiscus is accounting to make profit look much better but hengyuan is opposite. Inventories increase 1.1 billion compared to last quarter and 2 times of last year same quarter. Typical China man company press down profit to avoid tax
------------------
Agreed.
I expect inventory gain and end up show 131 million inventory loss.
Really cannot understand.
Thank you.

Posted by Jerichomy > 2022-05-30 20:02 |

Post removed.Why?

Posted by nicholas99 > 2022-05-30 20:04 | Report Abuse

https://asia.nikkei.com/Business/Markets/Commodities/Who-is-buying-bargain-Russian-oil-in-Asia

Posted by ngjack1991 > 2022-05-30 20:04 | Report Abuse

Seem like they going to execute the 10% share buy back that just gotten approved soon at the right pricing. Feel like an attempt to press down the price of company to accumulate. Anyhow it's not the huge profit QR most people expected. Chinaman really calculative, such a creative accounting that most didn't saw it coming. Unlike Malaysia company like hibiscus who tried to boost profit with negative goodwill

Posted by probability > 2022-05-30 20:05 | Report Abuse

what happens if tomorrow red and Wednesday it reverts back to current price looking forward for Q2 22'results?

Posted by nicholas99 > 2022-05-30 20:06 | Report Abuse

Buy back to jack up the price in medium term. I believe.

Posted by nicholas99 > 2022-05-30 20:07 | Report Abuse

They got 400mil. Hehehe

Posted by Jerichomy > 2022-05-30 20:09 |

Post removed.Why?

Posted by brian3381 > 2022-05-30 20:10 | Report Abuse

Those treat probability like a god kena gao gao.

Posted by ngjack1991 > 2022-05-30 20:10 | Report Abuse

Anything is possible, hibiscus at first glance like make awesome profit then the next day drop. No people can guess what will happening, it's just a market of what people think how much it worth. Like glove, cash rich and even with quite good QR for some of big 4 but keep dropping as people doesn't confident in it future earning due to oversupply, rising raw material cost, labour as well as us might drop china tariff to combat inflation.

Posted by brian3381 > 2022-05-30 20:11 |

Post removed.Why?

Posted by brian3381 > 2022-05-30 20:12 |

Post removed.Why?

Posted by mach10 > 2022-05-30 20:12 | Report Abuse

Jerichomy

I and r88 very happy

expect your happiness to be short-lived.

Posted by nicholas99 > 2022-05-30 20:13 | Report Abuse

Rr88 created so many acc. So childish

Posted by brian3381 > 2022-05-30 20:14 |

Post removed.Why?

Posted by Investing_Bursa > 2022-05-30 20:17 | Report Abuse

Mkt is foward looking . We shd buy looking towards better Q2

Posted by Jerichomy > 2022-05-30 20:17 | Report Abuse

Jadi kubur like subur tiasa kaka

Posted by VTrade > 2022-05-30 20:18 | Report Abuse

Which chicken stock

Posted by param1 > 2022-05-30 20:23 | Report Abuse

SEMUA PANIC !ALL THE CALCULATIONS FIGURED IN LA ,THINK IB SO DUMB ,WE ARE THE LAST PERSON TO KNOW QR REPORT ,DROP FROM HIGH ALREADY NOW ONLY MOVE FORWARDS

Posted by OTB > 2022-05-30 20:25 |

Post removed.Why?

Posted by stockwin > 2022-05-30 20:26 | Report Abuse

When you have so many unknowns and a total lack of transparency from the company, what ever optimism you may have becomes suspicious.
I assume OTB's profit forecast of EPS for FY2022 of RM 7.60. is now off the table?
I do not blame you, its a good input eventhough its way off. TQ

Posted by probability > 2022-05-30 20:26 | Report Abuse

Below is another example of refinery reporting loss on the first quarter 22'' due to the way they hedge:


..........

Israel’s Oil Refineries posts Q1 loss, refining margins rise

https://todaynews.upexampaper.com/israels-oil-refineries-posts-q1-loss-refining-margins-rise-more-trending-news-today/

Israel’s Oil Refineries (ORL) (ORL.TA) swung to a loss in the first quarter, as a revaluation of futures contracts offset a jump in revenue amid a steep rise in global oil prices.

Chief executive Malachi Alper said that since mid-March ORL has seen “unprecedented refining margins” that are expected to give a significant boost to the firm’s performance later in 2022.

Posted by nicholas99 > 2022-05-30 20:26 | Report Abuse

Yeah last minute IB still buy a lot. IB won't be so dumb

Posted by probability > 2022-05-30 20:28 | Report Abuse

all i can say is Hengyuan not doing any creative accounting - its purely on the way the hedging is done.

When the spread widens, risk due to hedging will disappear

Posted by Jerichomy > 2022-05-30 20:29 |

Post removed.Why?

Posted by brian3381 > 2022-05-30 20:30 |

Post removed.Why?

Posted by Jerichomy > 2022-05-30 20:30 |

Post removed.Why?

Posted by probability > 2022-05-30 20:30 | Report Abuse

those who sell now instead of waiting a few more weeks or better still till Q2 results come out will really miss out the cheapest stock in Bursa

HY management is not cheating you anything. Its just how refinery business works.