Posted by Jerichomy > 2022-05-31 12:54 |

Post removed.Why?

Posted by mytwocents > 2022-05-31 12:55 | Report Abuse

https://www.balticshipping.com/vessel/imo/9256858

the russian oil tanker Linda has 60,000 gross tonnage.
Kuala Linggi International Port is in Melaka, close to Port Dickson.

60,000 tonnes x 7 barrel per tonne x 80 dollar per barrel x 4.2 = RM141m, close to the inventory written down of RM131m.

hopefully it is an one off event.

Posted by yuwendy > 2022-05-31 12:58 | Report Abuse

would you rather have revenue that is exploding + hedging losses or revenue that is dropping + hedging gains? we choose the former every time. if you start to see large hedging gains, its would mean that oil prices and crack spread have already peak and started to trend down.. thats time to sell everything.

Posted by probability > 2022-05-31 12:58 | Report Abuse

@mytwocents, excellent info! Thanks

Posted by ngjack1991 > 2022-05-31 13:04 | Report Abuse

The lost might be from there. Written down simply mean they sell something lower than the book value they buy. It might be because they buy Russian oil but have to sell it cheaper on that incident due to rejection by Malaysia government to dock. If that's the case then they perform quite good, as that particular stock yet to material to profit of end product. If the stock can then is not just recorded profit of the written down amount plus current net profit. Prospect is intact but too bad that they make a mistake.

Posted by Subanginvestor > 2022-05-31 13:05 | Report Abuse

Valueguru has suggested that investors write to Local HY Corporate to demand answers for the poor Q1 result. I say let's write to HY HQ in Shandong and asks that they look into the following: 1. Why the huge surprise hedging loss again in Q1 22. HY Malaysia has from time to time incur huge hedging losses. It is time to look into this and stop this once for all. All hedging should be conducted by a bigger entity, like HY HQ. HY Malaysia should just focus on what they do best and that is refinery work and their aim is to provide shareholder value and not involve themselves in bets. 2. Huge share price fluctuation followed by huge disappointment in the Q1 result gives the IMPRESSION that somebody in HY is working with outside operators to manipulate price to the detriment of innocent hardworking retail investors. This is against the "Shared Prosperity" principles. Of course it is difficult to prove this criminal activity. But PERCEPTION is very important especially given how well Western Media has painted Chinese owned companies - as not transparent and untrustworthy. HY HQ will do well to remind their Chinese representatives in HY Malaysia (and other Chinese owned companies) that they have even a higher fiduciary standard to perform to. 3. HY HQ should send independent auditors to ascertain why HY quarterly results have been so inconsistent. Compare, for example, with a similar refinery Petron. Petron's quarterly results are far more consistent and predictable and they have been providing dividends to their shareholders, not HY.

Posted by VincentTang > 2022-05-31 13:05 | Report Abuse

The worst is over for HengYuan now. Good timing to buy and top up HengYuan now. Execellent quarters result ahead.

Posted by stockraider > 2022-05-31 13:09 | Report Abuse

The good profit of HRC could be some russian crude....already being use b4....msia govt & shell refuse the latest Russian Crude mah!

Posted by ngjack1991 > 1 minute ago | Report Abuse

The lost might be from there. Written down simply mean they sell something lower than the book value they buy. It might be because they buy Russian oil but have to sell it cheaper on that incident due to rejection by Malaysia government to dock. If that's the case then they perform quite good, as that particular stock yet to material to profit of end product. If the stock can then is not just recorded profit of the written down amount plus current net profit. Prospect is intact but too bad that they make a mistake.

Posted by ngjack1991 > 2022-05-31 13:13 | Report Abuse

No use to write in and ask for explanation. I don't think they will even entertain. It's just some guru excuses to explain to unhappy students. In fact the result is not bad if compared with last year same quarter. In a business sense, it's kind of questionable to compare to last quarter and talk about growth. Every business got their own cycle, certain cycle will earn more and certain will earn less. It's also why when you look at quarterly report mostly just compare against last year same quarter. Even if they written down is due to Russian oil they buy, do you think they will disclose? They won't and cannot as it is not a good thing. The positive side is that prospect still intact and the Russian oil is most probably just one off incident. If they repeat the same mistake then there are something wrong with the management

Posted by stockraider > 2022-05-31 13:18 | Report Abuse

Another incident of Hengyuan mother gasak money loh!

60000 tonnes at usd 80 = Rm 141M
Inventory writedown to = Rm 131M

Inventory sold to parent for Rm 10m or USD 5.7 per barrel compare to USD 80 per barrel a discount of 93% from original price
No need to take unnecessary risk loh!

Petron is your answer mah!


Petron annualzed EPS Rm 1.56 mah!

Hengyuan annualized EPS Rm 0.64 loh!

Surely Petron should rate higher mah!

Posted by ngjack1991 > 2022-05-31 13:23 | Report Abuse

Not fair to compare petron and hengyuan. Hengyuan refinery capacity is double to petron which is a plus point. Petron plus point is they got own petrol station to sell petrol. In term of refinery capacity hengyuan is more potential. Just that they messed up this round, have to see Q2 then only can compare. Somehow the mistake was reflected in share price, capacity double but yet lower price than petron.

Posted by Investmalaysiaa > 2022-05-31 13:24 | Report Abuse

Wah still battling ah from both side. Morning till now. Later I come back check again kikiki

Posted by Booyah > 2022-05-31 13:28 | Report Abuse

Hengyuan set to rebound strongly, says RHB Retail Research
https://www.theedgemarkets.com/article/hengyuan-set-rebound-strongly-says-rhb-retail-research

Posted by Booyah > 2022-05-31 13:29 | 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

Posted by Booyah > 2022-05-31 13:30 | Report Abuse

Typical sell the news in the morning, might rebound after shaking out the weak hands

Posted by klee > 2022-05-31 13:41 | Report Abuse

Chinamen happily sapu all sellers tickets.They already know the next QR numbers.rr88,apple 168 dan lain2,short la

Posted by subwayzzz > 2022-05-31 13:41 | Report Abuse

nice. healthy debate

Posted by upshare > 2022-05-31 13:48 | Report Abuse

Oil very.. very.. bull now
Hope rebound afternoon

Posted by supersinginvestor > 2022-05-31 13:48 | Report Abuse

Apple168 shows her face now. Means buy.
I m buying
:-))))))

Posted by subwayzzz > 2022-05-31 13:49 | Report Abuse

memang super bull now

Posted by brian3381 > 2022-05-31 13:51 | Report Abuse

Yeah yeah. All switch to petron

Posted by Sslee > 2022-05-31 13:55 | Report Abuse

Stockraider,
A rising tide (high crack spread) lifts all boats.

Posted by subwayzzz > 2022-05-31 13:55 | Report Abuse

brian how many lots you have on petron?

Posted by subwayzzz > 2022-05-31 13:55 | Report Abuse

AMIIN

Sslee

Stockraider,
A rising tide (high crack spread) lifts all boats.

10 seconds ago

Posted by skyjet > 2022-05-31 14:01 | Report Abuse

I switch all my petron to HengYuan as I know the core of crack spread up is more favourable to HengYuan

Posted by probability > 2022-05-31 14:05 | Report Abuse

Not with the intention to discourage, but i must inform you that our friend here sslee had made such attempts earlier, and if i am not mistaken he did not gain much insight.

I assure you that HY management is NOT doing anything with the wrong interest to their shareholders.

Just wait June 22' results (which is basically secured in another months time), provided no wild fluctuation on crude oil price and crack spread from current level, i can assure you that HY will report the best ever EPS in Bursa.

Stay calm - this refining margin rise phenomenon is GLOBAL and HY cant hide it even if they want to do so.

Posted by Subanginvestor > 53 minutes ago | Report Abuse

Valueguru has suggested that investors write to Local HY Corporate to demand answers for the poor Q1 result. I say let's write to HY HQ in Shandong and asks that they look into the following: 1. Why the huge surprise hedging loss again in Q1 22. HY Malaysia has from time to time incur huge hedging losses. It is time to look into this and stop this once for all. All hedging should be conducted by a bigger entity, like HY HQ. HY Malaysia should just focus on what they do best and that is refinery work and their aim is to provide shareholder value and not involve themselves in bets. 2. Huge share price fluctuation followed by huge disappointment in the Q1 result gives the IMPRESSION that somebody in HY is working with outside operators to manipulate price to the detriment of innocent hardworking retail investors. This is against the "Shared Prosperity" principles. Of course it is difficult to prove this criminal activity. But PERCEPTION is very important especially given how well Western Media has painted Chinese owned companies - as not transparent and untrustworthy. HY HQ will do well to remind their Chinese representatives in HY Malaysia (and other Chinese owned companies) that they have even a higher fiduciary standard to perform to. 3. HY HQ should send independent auditors to ascertain why HY quarterly results have been so inconsistent. Compare, for example, with a similar refinery Petron. Petron's quarterly results are far more consistent and predictable and they have been providing dividends to their shareholders, not HY.

Posted by CharlesT > 2022-05-31 14:11 | Report Abuse

What i knew is the very recent case of MSC (Tin) in Mac when the tin price was ard USD48k+ n MSC was ard RM5.50...

Then Sifu predicted Tin price can stay at this high level for a long long time due to good demand n short supply..

Suddenly Tin price crashed to USD34k+ n MSC is RM3.70+ now

Lets c how long high crack spread can last

Posted by profit profits > 2022-05-31 14:14 | Report Abuse

fishy between ib and hy account people lah

Posted by CharlesT > 2022-05-31 14:17 | Report Abuse

Btw MSC was Sifu's Ex Ms.Universe two months ago...i hope he will not upgrade HY to his Ms.Universe this round....knowing the scary Curse of Ms.Universe

Posted by CharlesT > 2022-05-31 14:19 | Report Abuse

Last but not least, knowing many of the Chinaman's stories in Bursa n many other countries, i dare not to fall in love with HY for too long.....

Posted by searchingmoney > 2022-05-31 14:24 | Report Abuse

Charles T, you are not alone, I wonder of how many Malaysian feeling the same.

Posted by Sslee > 2022-05-31 14:24 | Report Abuse

CharlesT,
Due to sanction on Russia and the conflict in Ukraine will not end very soon the odd are decent the high crack spread will last for at least 6 month to even 2 year.

So place your bet on the call warrants.

Posted by CharlesT > 2022-05-31 14:26 | Report Abuse

Sslee,

Ya ya hv fun n good luck to us.

Posted by brian3381 > 2022-05-31 14:28 | Report Abuse

20k units

Posted by subwayzzz > 2022-05-31 14:29 | Report Abuse

high crack spread is actually a double edged sword. so long as they play with it properly, everyone won't get hurt in the near term.
the bigger picture is US and friends + EU have been having low interest rates for a very long time so this is the best opportunity blow the inflation balloon. Whether it will go burst in the near term, i don't think so. they have been brewing this moment for so long so the music will play for a few years before it goes bust.

Posted by Sslee > 2022-05-31 14:31 | Report Abuse

CharlesT,
It is now a good time to buy Annjoo?

Posted by CharlesT > 2022-05-31 14:35 | Report Abuse

I started to re enter some since 1.60+... never expect it to go down so much...could b their export biz badly affected by MCO in China.

Will buy phase by phase to down average so.

Anyway kind of upset that they didnt adhere to their div policy

Posted by 888STOCK888 > 2022-05-31 14:36 | Report Abuse

Brent oil $123 liao..... HOOT9

Posted by nicholas99 > 2022-05-31 14:41 | Report Abuse

Hoseh liao. $150 coming. Please hedge properly hengyuan..

Posted by Sslee > 2022-05-31 14:43 | Report Abuse

Thanks CharlesT,
Will move some of my masteel to Annjoo. At least you can expect yearly dividend from Annjoo.

Posted by mf > 2022-05-31 14:46 | Report Abuse

warning

Posted by CharlesT > 2022-05-31 14:48 | Report Abuse

Msia Rebar price still rm3300-3450pmt lah where got drop?

Posted by 888STOCK888 > 2022-05-31 14:50 | Report Abuse

Whole morning hantu buying???

Posted by subwayzzz > 2022-05-31 14:50 | Report Abuse

wish you heng heng

brian3381

20k units

22 minutes ago

Posted by kingkong99 > 2022-05-31 15:00 | Report Abuse

https://www.reuters.com/markets/commodities/global-refiners-falter-efforts-keep-up-with-demand-2022-05-31/?rpc=401&

Posted by CharlesT > 2022-05-31 15:00 | Report Abuse

They hv written down their stock value for rm34m+ in Q4.

So their current stock value could be much lower, this partly explains their higher profit in Q1 despite lower sales.

Posted by probability > 2022-05-31 15:00 | Report Abuse

Justification for crack spread resilience long term (at least at 13 USD/brl):

Refined Oil Exports by Country
..............................

United States: US$60.7 billion (13.9% of refined oil exports)
Russia: $45.4 billion (10.4%)
Netherlands: $34.7 billion (8%)
Singapore: $27.4 billion (6.3%)
India: $26.2 billion (6%)
China: $25.5 billion (5.9%)
South Korea: $23.2 billion (5.3%)
United Arab Emirates: $19.6 billion (4.5%)
Malaysia: $12.8 billion (2.9%)
Belgium: $10.5 billion (2.4%)
Spain: $9.6 billion (2.2%)
Germany: $9.5 billion (2.2%)
Italy: $8.3 billion (1.9%)
United Kingdom: $7.4 billion (1.7%)
Canada: $7.2 billion (1.7%)

....

Imagine you take out Russia from the above supply of REFINED OIL (which is where we are heading) - its just not possible to simply replace the 10% gap even if both China & India double their exports

In the future at most Russia can only sell its crude to India & China, but NOT refined oil...

and India & China cannot simply double their refining capacity to process russian crude

This should be a long term phenomenon provided EU does not change their stance on Russian oil dependence

Posted by Huat87 > 2022-05-31 15:08 | Report Abuse

Why no move oledi?

Posted by subwayzzz > 2022-05-31 15:08 | Report Abuse

looks like the refined oil's world doesn't want the war to end quickly. lol

Posted by Huat87 > 2022-05-31 15:11 | Report Abuse

Sienz la.... so slow