Posted by hengpetron > 2022-06-10 18:49 | Report Abuse

high crack spread is norm

Posted by hengpetron > 2022-06-10 18:50 | Report Abuse

brain dead brain will not understand

Posted by hengpetron > 2022-06-10 18:52 | Report Abuse

Tomorow limit up
They will curse everybody

Posted by hengpetron > 2022-06-10 18:53 | Report Abuse

Today drop is just small matter
All naysayer have a field day

Posted by hengpetron > 2022-06-10 18:54 | Report Abuse

start cursing people die.

Posted by hengpetron > 2022-06-10 19:08 | Report Abuse

Many nasyayer is already kuku.I dont blame them
Brain dead.Only normal human dont curse you die

Posted by OTB > 2022-06-10 19:22 | Report Abuse

I am not staying in a low cost house and using public transport like rr88.
I do not invest intraday to make peanut profit.
I invest for a few months to a year.

Posted by OTB > 2022-06-10 19:29 |

Post removed.Why?

Posted by CharlesT > 2022-06-10 19:31 | Report Abuse

TA wise looks ugly woh...thought u r TA first n FA later....

Or wait till it drops below 200sma only cut ah?

Posted by investor2021trading > 2022-06-10 19:31 | Report Abuse

least expected hengyuan dropped 6.45% (-40c) when petrol/diesel/gas price r still at historical high! see how next week, up or down?

Posted by OTB > 2022-06-10 19:34 |

Post removed.Why?

Posted by OTB > 2022-06-10 19:37 |

Post removed.Why?

Posted by CharlesT > 2022-06-10 19:38 | Report Abuse

Chinaman Boss very sneaky, pushed up the prices fm rm4.60+ to rm5.80+ within 5 trading days, n then jumped to Rm6+ on the following Monday.

Now i think mostly kena trapped, except Probability n few others who bought earlier below RM5.00

Posted by OTB > 2022-06-10 19:45 | Report Abuse

I invest base on good fundamental, I think it is still a long way to go.
Refinery stocks in the worldwide market are still very bullish, no worry on a small correction.
The crack spread is still very high, we need the crack spread to be around USD25 to USD30 is good enough to make a very good profit.
I am prepared to take this risk.

Posted by Sslee > 2022-06-10 19:46 | Report Abuse

Most likely the Chinaman pushed up the crack spread from USD 10+ to 30 to trap people.

Posted by CharlesT > 2022-06-10 19:54 | Report Abuse

If eat too fully very free nothing to do u may check the price movement of glove co VS their Q profits...

Hv fun...

Posted by CharlesT > 2022-06-10 19:58 | Report Abuse

Last but not least, stock mkt is never a 1+1=2 thing...

Enjoy yr trades or investmenr

Posted by CharlesT > 2022-06-10 20:05 | Report Abuse

Anyway if u strongly believe HY is so so good with current high crack spreads then should be happier to buy lower with more discounts...

Huat ah

Posted by Sslee > 2022-06-10 20:05 | Report Abuse

At least I can look up to Philip mistake of selling his Topglove too early and buying back Harta too early.

Posted by CharlesT > 2022-06-10 20:06 | Report Abuse

Lol

Posted by Sslee > 2022-06-10 20:11 | Report Abuse

HRC is the place for me to practise my trading skill with C24.
Petronm is for my investment and if I am trapped at Petronm, I can still expect a yearly dividend.

Posted by CharlesT > 2022-06-10 20:13 | Report Abuse

Still got trading opportunity in C24/C25, c how low can HY go next week

Posted by Investmalaysiaa > 2022-06-10 20:13 | Report Abuse

LOL, dividend from petronm? Your capital deprecation not enough to cover dividend. People buy Maybank for dividend not petronm.

Posted by tehka > 2022-06-10 20:16 | Report Abuse

Not only hy down mah, everything down today

Posted by Sslee > 2022-06-10 20:19 | Report Abuse

Like palm oil stocks and oil refining stocks just buy and sell based on CPO price and Crack Spread.

Posted by sense maker > 2022-06-10 20:23 | Report Abuse

Those who bought based solely on crack are cracking now.

Posted by Liposenze > 2022-06-10 20:28 | Report Abuse

Drop because bad sentimen maaaa…..

Posted by onlyinvestment > 2022-06-10 20:32 | Report Abuse

Since shifu also said he can buy more lower and cheaper share at next week means he also expect the share price will drop more lol. I also want buy lower and cheaper, but confirm not above RM 5. Above rm5 let those clever shifu buy first...

Posted by CharlesT > 2022-06-10 20:35 | Report Abuse

So if everyone is waiting happily to buy lower next week then hope our dreams can come true...

Huat ah

Posted by probability > 2022-06-10 20:36 | Report Abuse

In Q1 22', HY has reported quite a significant derivative loss and in my opinion it is likely explained by the following:

As i had mentioned earlier, as a pure refinery now (unlike during Shell’s time where they owned retail kiosks), it would be mandatory to hedge the crude (LONG) and hedge the refined oil (SHORT) at the same time and same quantity 100% - all the time every month as typically done by pure refiners.

Since 14% of their crude at the end of Q4 2021 (about 1.57 billion) is of Russian crude. When the valuation of this oil is made as per market value at the end of Q1 22' when it is no longer tradable, it will have zero value, i.e it will result with pure hedging loss.

While for the balance oil it would have resulted as hedging gain as the crude oil price was moving up.


Let us do the math:


PART 1
…….


Russian oil: 14% x 1.57 billion inventory (end of Q4 21’)
= 210 million
Final valuation is zero, thus hedging loss: - 210 million (likely occurred in Mar)



PART 2
…….

Crude oil hedging:

The Brent price approximately changed from $ 77/brl (in Dec 21’) to $ 108/brl (in Mar 22’).

Hedging gain: 3.5 million barrels (monthly hedging) x (108 – 77) x 4.25 exchange to MYR
= 461 million


Refined oil hedging:

The Refined oil price approximately changed from $ 83/brl (in Dec 21’) to $ 127/brl (in Mar 22’).

Hedging loss: 3.5 million barrels (monthly hedging) x (83 - 127) x 4.25 exchange to MYR
= -654 million


Net hedging loss from refining margin swap: -654 + 461
= - 193 million


PART 3
……….

NOTE: this above is excluding the inventory write down of 131 million that they had paid but unable to utilize.

PART 1 + PART 2 + PART 3 explains all that what we are seeing for Q1 22’ PAT.

For Q2 22’ expect PART 1 & PART 3 to no longer be there while the net hedging loss in Q2 can be zero (as the gain in crude oil price between end of Mar and end of June appears to be matching the gain in refined oil during the same period). The hedging gain and loss will cancel each other.

Posted by probability > 2022-06-10 20:36 |

Post removed.Why?

Posted by TraderAlways > 2022-06-10 20:47 | Report Abuse

Prophecy using AI. Touch rm3.80 rebound back to rm4.80 and going back down to rm3 and rebound back to rm5

Posted by TraderAlways > 2022-06-10 20:50 | Report Abuse

Thats my contribution after decoding the price from its noise. Then take the trend, cycle and season and finally reassemble it back to its original form.

Posted by investor2021trading > 2022-06-10 20:56 | Report Abuse

“A gas crisis…15 years in the making.”
It might seem counterintuitive that Australia, the world’s top LNG exporter would face a gas shortage at home.

Posted by probability > 2022-06-10 20:56 | Report Abuse

we have not observed such phenomena in other refinery as none of them:

1) buys russian oil and,'
2) sell 90% of their refined oil to Shell (who decided in Mar 22' abruptly that they will stop buying russian oil)
3) do not have their own retails kiosks to avoid hedging

Posted by bsinvestor > 2022-06-10 21:06 | Report Abuse

better buy petronm as hengyuan is chasing the tail due to obligation to hedge 100%.

Posted by icecool > 2022-06-10 21:18 | Report Abuse

back to rm4 ?

Posted by mf > 2022-06-10 21:22 | Report Abuse

Dow futures slide 450 points

Posted by Mikecyc > 2022-06-10 21:27 |

Post removed.Why?

Posted by Mikecyc > 2022-06-10 21:29 |

Post removed.Why?

Posted by Mikecyc > 2022-06-10 21:36 |

Post removed.Why?

Posted by JWLL1668 > 2022-06-10 21:38 | Report Abuse

Waiting for almost one month for the pullback below 6. Still early for the next spike, so just sit back and stick to your plan and ride along the waves when you know you are heading to the right direction.

Posted by investor2021trading > 2022-06-10 21:40 | Report Abuse

i think after this fall/pullback, Hengyuan price will b on uptrend!

Posted by Mikecyc > 2022-06-10 21:43 |

Post removed.Why?

Posted by Huat87 > 2022-06-10 21:43 | Report Abuse

Monday fly roket

Posted by RWG > 2022-06-10 21:46 | Report Abuse

china man now will eat all the hengyuan profits,think how to cheat investor $$$

Posted by JWLL1668 > 2022-06-10 21:47 | Report Abuse

Washing and washing, up down up down and stay sideway before the next spike. Just patiently wait

Posted by investor2021trading > 2022-06-10 21:48 | Report Abuse

$$$ small matter for chinaman as long as everyone is happy n make money!

Posted by mf > 2022-06-10 21:55 | Report Abuse

Dow Jones 31,679.31 -593.48

Posted by Investmalaysiaa > 2022-06-10 22:00 | Report Abuse

When you see people come out with all sorts of calculations like what happened to gloves, then it’s time to sell. If market is so easy everyone is millionaire