Posted by brian3381 > 2022-05-30 22:16 | Report Abuse

Some diference ah? Is totallu wrong estimation

Posted by subwayzzz > 2022-05-30 22:40 | Report Abuse

You want he’ll note I burn for you. Come give me your real name then I burn for you. With Mercedes and driver effigy and 72 virgins also can . Burn one billion hell dollar also can. Then you can go jump strait of malacca.

Posted by subwayzzz > 2022-05-30 22:41 | Report Abuse

Laugh also cannot laugh properly. Like agua. You already potong kontol already is it ?

Posted by OTB > 2022-05-30 22:49 |

Post removed.Why?

Posted by probability > 2022-05-30 22:55 | Report Abuse

Asia oil/products:

2h ago

Gasoline
........

Gasoline prices continued to climb, with 92 RON coming within touching distance of multi-year highs hit at the beginning of March. In the cash market, PetroChina offered along the curve and weighed slightly on the structure at the front of the physical market, although moves in the paper curve meant that still translated into a flat price gain of $3.81/b to $149.68/b FOB Singapore. The crack was up another $1.92/b at a one-week high of +$32.92/b.


Jet Fuel
.......

Jet continued to gain amid wider bullishness across distillates and an open arb from Asia and the Middle East to Europe, leaving prices creeping towards a three-month high to start the week. Only BP and Total were in the cash window, the former bidding up through the window and adding another $0.58/b to Quantum’s cash differential assessment to take it to a $3.71/b premium to nearby swaps. That left the flat price up $2.86/b at $149.73/b FOB Singapore as the spot crack to Brent edged another $0.97/b higher to +$32.97/b.


Diesel
......

Diesel markets saw Trafigura and Vitol bid the middle and back of the 10ppm cash window higher and helped to lift Quantum’s cash differential $0.81/b from Friday to a $5.09/b premium to the curve. That left the 10ppm flat price up $3.86/b at a two-week high of $159.86/b FOB Singapore, while the spot crack to Brent gained another $1.97/b to +$43.10/b.

Posted by Investing_Bursa > 2022-05-30 23:02 | Report Abuse

Hi Otb,

Just to clarity, there is a difference in options and future oil contracts.
Oil options do not require physical delivery at expiration, as is the case with some (but not all) crude oil futures contracts. In contrast, crude oil futures traded on the NYMEX require delivery at expiration. The trader short one futures contract must deliver 1,000 barrels of crude oil at the specified delivery point, while those with a long position must accept delivery.

If your case, if they short sell at usd13 and suddenly the price of diesel goes up, they would have to deliver at a certain date at the higher price / cover the short , hence losing money and vice versa.

Posted by Investing_Bursa > 2022-05-30 23:15 | Report Abuse

No, u cannot long the same contract but u can open a new contract

Posted by OTB > 2022-05-30 23:19 | Report Abuse

Dear Investing_Bursa,
Thank you.

Posted by sonyx123 > 2022-05-30 23:21 | Report Abuse

@investing_bursa Can you help to elaborate when the oil price spike and HY would not have sufficient hedge and unable to manage their derivative losses?

Wouldn't they benefit from lower crude oil price purchased and able to sell their refined goods at a higher price then? Thus gaining (as opposed to inventory write off)?

Posted by brian3381 > 2022-05-30 23:27 |

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Posted by thumxj > 2022-05-30 23:36 | Report Abuse

Hi Investing_Bursa,

Thank you for your sharing.
How do you see the effect of foreign currency swaps and forward contracts to Hengyuan?
From the annual report, it seems that strengthening of USD does quite a bit of damage to the PAT.
Will its impact bigger than the impact caused by commodities hedging in current year?

Posted by brian3381 > 2022-05-30 23:36 |

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Posted by brian3381 > 2022-05-30 23:37 |

Post removed.Why?

Posted by Investing_Bursa > 2022-05-30 23:40 | Report Abuse

Sonyx123,

It all depends on whether raw crude or refined prices move up faster. Sudden spike in short space of time makes it very difficult to have sufficient hedging. Imagine , if raw crude is spiking everyday , one would need to hedge frequently for their contracts to cover their delivery of their refined products. A Yo yo sharp movement for crude makes it even more difficult to hedge . If they feel crude is already too high, they could short but suddenly crude moves even higher causing their cost for delivery of refined products to spike and vice versa.

Posted by OTB > 2022-05-30 23:45 |

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Posted by Kukubai > 2022-05-30 23:51 |

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Posted by sonyx123 > 2022-05-30 23:56 | Report Abuse

Thanks Investing_bursa

Posted by blackgold77 > 2022-05-30 23:57 | Report Abuse

in spite of good stuffs for discussion here, some annoying uneducated trolls continue to beg for attention. in Malay language we call them kurang ajar. or kecik2 tak mati, besar2 menyusahkan orang.

Posted by Sslee > 2022-05-31 00:27 | Report Abuse

Commodity swap, In this swap, the user of a commodity would secure a maximum price and agree to pay a financial institution this fixed price. Then, in return, the user would get payments based on the market price for the commodity involved. On the other side, a producer wishes to fix the income and would agree to pay the market price to a financial institution, in return for receiving fixed payments for the commodity.

For refinery if on 1st Jan 2022 when you place commodities swap 1 million barrel crude oil swap at USD 100/barrel and 1 million of diesel at USD 115/barrel mature on 31 march 2022.

On 31 march 2022 if market price for crude oil is USD 110/barrel and diesel USD 130/ barrel

Then on crude oil you get payment based on market price thus this crude swap earned you USD (110-100) = USD 10 per barrel.

On diesel swap since you pay market price hence you need to pay USD (130-115)= USD 15/ barrel.

Overall you loss USD 5 per barrel.

Posted by brian3381 > 2022-05-31 00:28 | Report Abuse

Semua olang bododokkk cakap kokokkk kokokkk kokokkk macam ayam kokokok kokokok kokokok tomorrow all kiongkan in Hengyuan.

Posted by Sslee > 2022-05-31 00:41 | Report Abuse

Similarly if on 1st Jan 2022 you place a refining margin swap of USD 10/barrel mature on 31th March 2022.

And at 31th March 2022 the market refining margin is USD 20/barrel.
Since you pay market refining margin for fixed margin payment of USD 10/ barrel hence you need to pay USD (20-10)= USD 10 per barrel.

You make a loss of USD 10/barrel on this refining margin swap derivatives.

Posted by GrowthCapitalist > 2022-05-31 01:07 | Report Abuse

Thanks Probability and sorry was afk just now! Appreciate all your sharing! :)

Posted by GrowthCapitalist > 2022-05-31 02:55 | Report Abuse

If any of you notice, HY been using multiple financial instrument to buy and sell commodities and refined oil

Forward priced commodity contracts 121,752 50,092 -
Commodity swap contracts 306,148 65,784 (25,725)
Commodity options contracts 7,647 - (200,034)
Refining margin swap contracts 291,009 45,186 (339,510)

I just feel option is abit risker due to the floating value and not obligated if not mistaken but they would lose the premium they paid.

The rest forward and swap are pretty straight forward with confirmed payment either multiple or one lump sump.

I just wonder one thing, where does some of you get next quarter calculation would be USD 26/ barrel?

Enjoy the trading tomorrow guys!

Posted by 888STOCK888 > 2022-05-31 05:28 | Report Abuse

"Hengyuan 1Q profit swells 191% amid higher refined oil price, stronger demand"

https://www.theedgemarkets.com/article/hengyuan-1q-profit-swells-191-amid-higher-refined-oil-price-stronger-demand

I can smell IBs want people to sell so they can buy.... =D

Posted by 888STOCK888 > 2022-05-31 05:37 | Report Abuse

Oil price new high

"Israel Raises Risk Warning for Turkey on Iran Attack Concerns"

https://www.bloomberg.com/news/articles/2022-05-30/israel-raises-risk-warning-for-turkey-on-iran-attack-concerns

"Russian hypersonic missile tests send message to Sweden and Finland over Nato bid"


https://www.thetimes.co.uk/article/russian-hypersonic-missile-tests-send-message-to-sweden-and-finland-over-nato-bid-qmff9l5cz

Posted by Alextan916 > 2022-05-31 06:11 | Report Abuse

If focus on mid to long term, this is good stocks to invest.

Posted by MichelleNg > 2022-05-31 06:23 | Report Abuse

Wao...limit up today?

Posted by Cnlim > 2022-05-31 07:35 | Report Abuse

In theory is ok bases on certain assumption but in practice business is not static

Posted by OTB > 2022-05-31 07:39 |

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Posted by brian3381 > 2022-05-31 07:46 |

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Posted by brian3381 > 2022-05-31 07:47 | Report Abuse

Pls la. Dun b thick face, ok

Posted by brian3381 > 2022-05-31 07:50 | Report Abuse

All ur rubbbbish calculation in jaks r proven wrong. Now wan to show ur idiuot calcylation in hy again ah

Posted by OTB > 2022-05-31 07:50 |

Post removed.Why?

Posted by OTB > 2022-05-31 07:51 |

Post removed.Why?

Posted by brian3381 > 2022-05-31 07:52 | Report Abuse

I dun even look ay ur calculationm is a wasting time

Posted by brian3381 > 2022-05-31 07:52 |

Post removed.Why?

Posted by OTB > 2022-05-31 07:58 |

Post removed.Why?

Posted by brian3381 > 2022-05-31 08:01 |

Post removed.Why?

Posted by OTB > 2022-05-31 08:02 |

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Posted by brian3381 > 2022-05-31 08:02 | Report Abuse

y diam? mtag? dps? all diam? hiaptek?

Posted by OTB > 2022-05-31 08:04 | Report Abuse

I still make multi million in KLSE despite a small loss on Hiaptek.
You have nothing to challenge me.
You cannot even write a simple recommendation report.

Posted by bullmarket1628 > 2022-05-31 08:05 |

Post removed.Why?

Posted by OTB > 2022-05-31 08:19 |

Post removed.Why?

Posted by subwayzzz > 2022-05-31 08:20 | Report Abuse

considering Q1, eps is about 4% of current price. so the price should be fair. wont go up, wont go down.

Posted by subwayzzz > 2022-05-31 08:21 | Report Abuse

at least he put effort to calculate lor brian, what did you contribute? being an irritating housefly?

Posted by brian3381 > 2022-05-31 08:26 |

Post removed.Why?

Posted by brian3381 > 2022-05-31 08:30 | Report Abuse

Y no copy comment from jaks? Loss bilion ah?

Posted by Hoho22 > 2022-05-31 08:37 | Report Abuse

Pathetic mad dog barking.

Posted by VTrade > 2022-05-31 08:38 | Report Abuse

How much worth now actually?

Posted by subwayzzz > 2022-05-31 08:40 | Report Abuse

of course having a calculation to predict price is better than using a mystic ball.
if not tell me which counter will rise next lor so i straight hantam that stock