Michael-cut-yr-cok, should have called out last 2 weeks during the Ghost Festivals. I'm sure many Moms would love to haunt you wherever you go. Maybe that's why your feng shui is so low ya.......
Thanks for the reply on the hedgin Sslee. Hopefully, the losses on hedging can be break even by end of the year. Otherwise, they wouldn't pay that much of tax.
Well, i'm pretty confusing one thing. How do we check which are the jet fuel, diesel and gasoline used by HY.
HRC will produce and sell their refined products according to each country buyers spec. For Malaysia market: The spec are: RON100 EURO 4M RON97 EURO 4M RON 95 EURO 4M DIESEL EURO 5
As of jetfuel: Jet A-1, kerosene or JP-1A), Jet fuel is used globally in the turbine engines commercial planes.
AVGAS (Aviation gasoline ): This aviation fuel is usually only used in the older piston engines of sports aircraft and small private aircraft that require leaded fuel with a high octane number , AVGAS is very volatile and extremely flammable, with a low flash point. Turbine fuel is a kerosene-type fuel with a much higher flash point so it is less flammable.
MoneyMakers Walao Mogas crack spread collapse until (-negative)
Hope by now you can understand why HRC doing the hedging?
In high refining margin period your realised physical refining margin is high but your profit before tax will be lower because of hedging derivative loss.
But when refining margin U turn (lower) your realised physical refining margin is low but your profit before tax will be higher because of hedging derivative gain.
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....
MoneyMakers
7,496 posts
Posted by MoneyMakers > 2022-09-01 17:51 | Report Abuse
Inevitable HY collapse back to rm3 (historical fair value)