MM had been saying many months ago Russia already occupied 90% of Donbass, Russia-Ukraine war will be over , no more war premium, no need to wait for Q2 result crude oil and refining margin already/will collapse.
But few day ago seeing him cheering HIB explosive quarter, limit up coming.
Since you mentioned the balance sheet has issue and it should reflected the other way round.
Maybe you could enlighten me, as you mentioned earlier the PAT reflected in the QR is not entire profit and loss which they had excluded the cash flow hedge reserve and cost of hedging reserve with an amount of RM 1.079 billion, where as as reflected only 0.667 billion and EPS is around RM2.2.
Why in the later page it written the total capital and reserve is around 1.57 billion after the deduction from the hedging? Could you explain me this?
If it is really true owner Hengyuan siphoning using derivative losses.....then hengyuan is dead duck loh!
Why Raider are so against Hengyuan leh ??
The key point is its consistent enormous derivative losses mah !!
The key question to ask is, why Hengyuan have such a huge derivative losses of more than Rm 1 billion compare a small manageable loss at Petron leh ??
The risk at hengyuan has the following possibility loh!
1. The enormous derivative losses of hengyuan are due management/owner deliberate disguise attempt to siphon cash out of hengyuan thru hedging disguise losses loh!
2. It could be genuine loss, but due to poor & risk management of hengyuan that resulted this uncontrol huge losses mah!
Both scenario are equally very bad for hengyuan loh!
Another magic the management play on your eye loh!
Instead of taking the hedging losses against the retained profit & P&L, management disguise adjust the losses against the reserves loh!
This to manipulate the EPS mah!
Lu tau boh ?
Posted by King_trader_shadow > 1 minute ago | Report Abuse
stockraider
Since you mentioned the balance sheet has issue and it should reflected the other way round.
Maybe you could enlighten me, as you mentioned earlier the PAT reflected in the QR is not entire profit and loss which they had excluded the cash flow hedge reserve and cost of hedging reserve with an amount of RM 1.079 billion, where as as reflected only 0.667 billion and EPS is around RM2.2.
Why in the later page it written the total capital and reserve is around 1.57 billion after the deduction from the hedging? Could you explain me this?
Hengyuan’s fundamentals keep getting worse every single quarter. EPF and PNB kept selling til no more being a substantial shareholder (and so they can trade, pump, dump whenever they choose w/o any need to disclose)
Haiyah raider, since you claim you come here out of the kindness of your heart to become savior of poor uncle and auntie from being scammed by hrc management, you should also put your money where your mouth is mah, correct bo?
Else later if it go up, then ppl will say stockraider is only tokok. But if you short then loose you can still claim you make mistake mah!
That's a very good point which i wanted to see stockraider to explain on it. I am not in this background but this is what i have heard.
That's totally true that we can exclude the unsettlement hedging loss in P&L to certain expiry date but i wonder how long they could hold it as unaudited and does this apply to Q1 or it was accumulated or the Q1 hedging is already paid off.
If you notice HRC shareholding mostly own by the insider only a percentage of ~50%. PNB and EPF is less than 5% leh. I don't find a reason they wanted to be a shareholding here since PETDAG is there. If they are heavily here, People would definitely question them,
Air Asia bankrupt due to pandemic travel lock down and loss of revenue stream...
Posted by stockraider > 34 minutes ago | Report Abuse
Thats why Airasia bankrupt mah!
Lu tau boh ??
Always learn from lesson loh!
Posted by Amoneymous > 4 minutes ago | Report Abuse
Awesome QR!
Hedging is normal for companies rely heavily on commodities. Air Asia also hedging on oil price.
Why keep harping on hedging accounting. Is been the same practice for few years and account audited.
As long as no cooperate exercise like keep on private placement and right issue. Changing auditor and directors (like the snakeba). Making money hard cash from operating profit.
As for high gearing. It is normal for oil and gas industry.
Petronm suffer 300++ hedging loss but not shiphoned money to Philippines! Hengyuan suffer hedging loss but shiphoned to china "CLAIM STOCK RAIDER" Stock raider own petronm but didn't own hengyuan. So his verdict is Fake
Stockraider since you are so-so panlai, let me ask you a question. On March 2022 HRC entered a refining margin swap contracts for month April 2022- Feb 2023, amt 3 million barrels per month at future month offer and accepted refining margin of: April USD 30 May USD 29 June USD 28 July USD 27 Aug USD 26 Sept USD 25 Oct USD 24 Nov USD 23 Dec USD 22 Jan 2023 USD 21 Feb 2023 USD20
Fast forward Q2 accounting close date on 30/6/2022 The realized month average refining margin was: April USD 35 May USD 40 June USD 45 And future month quote refining margin are: July USD 42 Aug USD 41 Sept USD 40 Oct USD 39 Nov USD 38 Dec USD 37 Jan 2023 USD 36 Feb 2023 USD35
So in your Q2 report what is the realized refining margin swap contract losses (against realized physical gross profit) and unrealized forward month future refining margin swap contract?
MM first start with BS Q2 loss this and that oil price dropping etc all kinds of BS with his crystal ball that is pancit. Stock raider from the investlah days was highly respectable but now I see he is so egoistic to admit he was wrong. Lacks credibility
Pay thru the nose tax 230million ! What a fool If I the MD I pay rm1 ringgit for tax! I divert the dividends 30million into mine pocket. I hire qqq333, moneymaker and stock raider as my advisor.
You can see a pattern of naysayers behaviors before and after the QR2 is out.Before the QR2 results it was always MM Jerichomy etc shouting unfounded, un back up facts ... now after the QR is out you hv Stock Raider qqq3 etc doing the same! IBs are the biggest suspects wanting to suppress the share price.. the naysayers are either their agents or the know the facts that what ibs will do in the aftermath of QR2 result ..suppress the price and the naysayers want to take a ride... sickening!
Posted by InvestView > 48 seconds ago | Report Abuse
You can see a pattern of naysayers behaviors before and after the QR2 is out.Before the QR2 results it was always MM Jerichomy etc shouting unfounded, un back up facts ... now after the QR is out you hv Stock Raider qqq3 etc doing the same! IBs are the biggest suspects wanting to suppress the share price.. the naysayers are either their agents or the know the facts that what ibs will do in the aftermath of QR2 result ..suppress the price and the naysayers want to take a ride... sickening!
Yeah If you understand cockrider logic. This is what cockrider mean.
Posted by Sharewire > 6 minutes ago | Report Abuse
Pay thru the nose tax 230million ! What a fool If I the MD I pay rm1 ringgit for tax! I divert the dividends 30million into mine pocket. I hire qqq333, moneymaker and stock raider as my advisor.
There were no issuances of new debt and equity securities, share buy-backs, share cancellations, shares held as treasury shares and resale of treasury shares in the current quarter ended 31 March 2022.
MM since stockraider run road and did not answer my question address to him and since you are also a so-soooo panlai can you answer my question on stockraider behalf?
There were no issuances of new debt and equity securities, share buy-backs, share cancellations, shares held as treasury shares and resale of treasury shares in the current quarter and financial period ended 30 June 2022.
Correct. It is good news as per latest QR. Have not utilized the share buy back as of 22Q2 ended Jun2022.
6. Ordinary Resolution 6 Description
Proposed Renewal of Authority for Share Buy-Back.
Shareholder’s Action For Voting Voted For Against No. of Shareholders 642 101 No. of Shares 169,608,089 35,810 % of Voted Shares 99.9789 0.0211 Result Accepted
Company 10% shit load of cash to buy back share can push to share price to sky.
That is the reason to dump PetronM and CY to switch first thing in the morning tomorrow.
Posted by King_trader_shadow > 8 minutes ago | Report Abuse
sorry it should be this on the share buy back
There were no issuances of new debt and equity securities, share buy-backs, share cancellations, shares held as treasury shares and resale of treasury shares in the current quarter and financial period ended 30 June 2022.
sslee or probability could you help me to explain this part,
Does Q1 hedging already accounted or it is still being accumulated till Q2 and next is Q3 would it be snowball it as well which means hedging from Q1, Q2 and Q3 would be snownballed?
Literally, i couldn't find anywhere where the hedging of Q1 is absorbed in Q2 so i believe they are snowballing it till end of this year prolly till they find the perfect spot to clear using cash in hand probably?
besides, I wonder why they wanted to pay huge tax(230mil tax) since they can reduced it by absorbing partial losses and decrease the debt indirectly, why they dont do that?
On the other hand, the crack spread had fell alot since 5th july 2022 and this might not be a good sign yet as long the crude oil hovering around $100 , they can still sell it at higher price.
Correct me if i'm wrong, does crack spread is equivalent to the price of selling in the market? And if it is a yes then this only take place as a ratio of 3, correct me if i'm wrong.
3 gasoline 2diesel 1 jetfuel. Your explanation very much appreciated.
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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....
stockraider
31,556 posts
Posted by stockraider > 2022-08-31 12:33 | Report Abuse
No need lah!
Raider just want to save innocent here from getting kon mah!
Posted by tehka > 6 minutes ago | Report Abuse
Haiyah raider, no need post long long here mah!
Raider post long long also can convince no one mah!
If raider very confident Hengyuan is con profit, tomorrow raider mah go all in IDSS short loh!