Posted by stockraider > 2022-09-04 13:41 | Report Abuse

Correctloh...!

Saving ahfah son, sifu sslee & general public mah!

Very noble intention mah!

Posted by UlarSawa > 2 minutes ago | Report Abuse

No lah. Raider managed to saved himself and also saved AhFah the veggies seller at pudu market and AhFah managed to paid all her son education fee in Australia. And now Raider want to save AhFah son that gamble on HY lah. Haiyoh. Correct?



probability

ha ha even MM beginning to rationalize and realize...

great job MM!

Posted by MoneyMakers > 3 seconds ago | Report Abuse

S’raider u stuck high HY at what price during 2018 collapse (rm19-rm3)??

See u got crazy ptsd @ forever hate HY

20 seconds ago

Posted by UlarSawa > 2022-09-04 13:41 | Report Abuse

Now Raider suspect fake hedging lah. Haiyoh. Correct?

eagerinvestor

low margin hedge more u guys shud complain la if high margin hedge more also complain meh?
if high margin didnt' hedge enuff u guys complain why such an oppurtunity also didn't hedge it. Maybe hedging is such a bad word for ppl that dun understand it. To those ppl that own a factory, hedging means locking in profit.

2 seconds ago

Posted by i3lurker > 2022-09-04 13:42 | Report Abuse

There is absolutely NO evidence that HRC hedges are done via

OTC swaps or dll

I advise you to refrain from continuing this train of thought



Posted by stockraider > 50 seconds ago | Report Abuse

I suspect the derivative trader is done between the owner macai & hengyuan mah!
Not thru an official exchange lah!

Do not be silly loh!

Posted by klee > 2022-09-04 13:42 | Report Abuse

Stock investing is not easy during times like this.Russis invades ukraine.USA n gangs sanction russia,n now russia cuts off all gas to EU.China lockdown another city.And here ppl still hv to GUESS hrc boss hedging position.Ular.You met hrc boss before or not?Is he genting vvip guest?Hahaha.

Posted by stockraider > 2022-09-04 13:43 | Report Abuse

All the while Raider suspect fake hedging mah!

Lu tak ala baca baik baik ah ?

Posted by UlarSawa > 8 seconds ago | Report Abuse

Now Raider suspect fake hedging lah. Haiyoh. Correct?

eagerinvestor

low margin hedge more u guys shud complain la if high margin hedge more also complain meh?
if high margin didnt' hedge enuff u guys complain why such an oppurtunity also didn't hedge it. Maybe hedging is such a bad word for ppl that dun understand it. To those ppl that own a factory, hedging means locking in profit.

2 seconds ago

Posted by UlarSawa > 2022-09-04 13:44 | Report Abuse

Only in day b4 Biden saw the proposal lah. Apa cakap year ni. Haiyoh. Correct?


MoneyMakers

Aiyoyo i3lurker Macron been saying same thing for years alrdy

Already known EU agree Iran deal but US always reject

Even last week US reject all Iran demand aiyoyo

1 minute ago

Posted by BobAxelrod > 2022-09-04 13:45 |

Post removed.Why?

Posted by UlarSawa > 2022-09-04 13:45 | Report Abuse

Raider saving AhFah son now lah. Haiyoh. Correct?

MoneyMakers

S’raider u stuck high HY at what price during 2018 collapse (rm19-rm3)??

See u got crazy ptsd @ forever hate HY

16 seconds ago

Posted by eagerinvestor > 2022-09-04 13:45 | Report Abuse

worry dun buy his stocks lor. dun worry buy lor. what alot of ppl here are trying to say is hedging is normal practise. if we want to tok abt hedging alone.

Posted by UlarSawa > 2022-09-04 13:46 | Report Abuse

Doesnt matter in capacity. Important hedging loss lesser than HY. Still profitable lah. Haiyoh. Correct?


BobAxelrod

That is the reason why Liars shall always add salt, pepper and ajinomoto to their stories.....

PetronM's refinery capacity is onlly 80 million bpd as compared to HY 156 million bpd....only half and their hedging is a modest half only.......

Raider learn to add some spices and not too hot ones when you cook...

3 seconds ago

Posted by BobAxelrod > 2022-09-04 13:47 | Report Abuse

Iran getting their Nuke treaty????? Biden must be waiting for another splash at the White House lawn...

Posted by probability > 2022-09-04 13:47 | Report Abuse

well explained sslee, they are accounting the unrealized loss not only up till year end but the whole maturity period of the balance refining margin swap contract if i am not wrong (or at least for those that matures next 12 months as someone said earlier)

Posted by Sslee > 2 minutes ago | Report Abuse

PSAi3alert,
For Q2 2022, the RM897.257M profits before tax already included the realised derivaties loss matured on April, May and June of RM 438,758,000.

For H1 2022, the RM 982,535,000 profit before tax already included the realised derivaties loss matured on Jan, Feb, March, April, May and June of RM 870,964,000.

Hence if HRC do not do the hedging the profit before tax should be RM 870,964,000 + RM 982,535,000.
Or profit before tax of about USD 20 per barrel.

That is what I say hedging is for during super good time the profit will be less and during bad time your loss will be less.

Since the unrealised derivaties is marked to market on 30/6/2022. Thus a very high unrealised loss because spread margin is almost at peak of USD 40+ on 30/6/2022.

If this peak spread margin presist till year end then H2 will have huge realised derivative loss but then again the physical business of buying crude, refining to finished product and sold the finished product will earned you super super fat refinimg margin of USD 40 per barrel.

You can expect about another 21 million barrel for H2.
So do the math.

Posted by UlarSawa > 2022-09-04 13:47 | Report Abuse

Yalor. Now Raider is doing his best to save AhFah son from judi HY lah. Just like he saved AhFah last time. Haiyoh. Correct?


eagerinvestor

worry dun buy his stocks lor. dun worry buy lor. what alot of ppl here are trying to say is hedging is normal practise. if we want to tok abt hedging alone.

25 seconds ago

Posted by i3lurker > 2022-09-04 13:48 | Report Abuse

Raider
btw

to make readers aware of transparency
some auditors use the wording

=>Amount due to Licensed Broker of Equities/Derivatives
so that readers who used audited accounts can know its all kosher and holy.
No doubt at all.

I did make that happen to many jobs that we took over from other auditors

but use of different wording does NOT mean Management is quilty of FRAUD.
it just means => UNKNOWN source of hedging.

just dun think too much and you will sleep better at nite

Posted by UlarSawa > 2022-09-04 13:48 | Report Abuse

Biden want to get the best from the world at the expense of others. Haiyoh. Correct?

BobAxelrod

Iran getting their Nuke treaty????? Biden must be waiting for another splash at the White House lawn...

37 seconds ago

Posted by probability > 2022-09-04 13:50 | Report Abuse

The reason why HY shows large unrealized loss on Cost of hedging reserve (COHR) is because it has around 18 million barrels of refined products, e.g Gasoline crack spread that is hedged for next 24 months at 12.7 USD/brl margin.


This is the Refining Margin Swap Contract (RMSC) shown as USD 227 million (USD 12.7 crack x 18 million barrels hedged).

As per accounting rules, this hedged contract (RMSC) has to show the opportunity lost / gained presuming the current crack spread of these refined products at the end of reporting Q2 22' (30 June) persist indefinitely till all hedging contract matures (more than 24 months).

Unrealized Cost of Hedging Reserve (COHR) , loss / gain: (A-M) x V

A = hedged crack spread value, 12.7 USD/brl
V = barrels volume of refined products hedged, 18 million
M = Market pricing of the hedged refined product at end of reporting period (mark to market)

Since at the end of June 22', the avg crack spread of the refined products, e.g gasoline at 31.6 USD/brl, the opportunity lost for the period of hedging is

Unrealized Cost of Hedging Reserve (COHR):
= (12.7 - 31.6) USD/brl x 18 million barrels
= - 338 million USD or MYR 1,490,267,000

The above is what reported as (Asset 261,065,000 - Liabilities 1,751,332,000)

The above after taxation is placed into 'Other comprehensive
(expense)/income' , reported as Cost of hedging reserve (net of tax).

...

Now lets see what happens, when Gasoline crack drops to its usual average of 5.7 USD/brl (currently its about 7.8 USD/brl)

Unrealized Cost of Hedging Reserve (COHR):
= (12.7 - 5.7) USD/brl x 18 million barrels
= 90 million USD or gain of MYR 395,000,000

When its a loss, COHR only shows the 'greater opportunity lost' compared to smaller opportunity gained by hedging - by locking down the margin.

When its a gain, COHR only shows the 'benefit of opportunity locked' compared to if you had not locked the opportunity available earlier.

Posted by stockraider > 2022-09-04 13:52 | Report Abuse

Again this Probability spin again loh!

How do u know hengyuan hedge 18 million barrel leh ??

Posted by UlarSawa > 2022-09-04 13:53 | Report Abuse

Your are suiyee auditor not suiyee accountant kah. Sori Ular remember wrongly. Anyway also involved account lah. Lagi denied at Taikor there. Haiyoh. Correct?

i3lurker

Raider
btw

to make readers aware of transparency
some auditors use the wording

=>Amount due to Licensed Broker of Equities/Derivatives
so that readers who used audited accounts can know its all kosher and holy.
No doubt at all.

I did make that happen to many jobs that we took over from other auditors

but use of different wording does NOT mean Management is quilty of FRAUD.
it just means => UNKNOWN source of hedging.

just dun think too much and you will sleep better at nite

2 minutes ago

Posted by UlarSawa > 2022-09-04 13:54 | Report Abuse

Only the persons involved know lah. Non at here know also. Cannot say who is right or wrong also. Only can suspect unless proven. Haiyoh. Correct?


stockraider

Again this Probability spin again loh!

How do u know hengyuan hedge 18 million barrel leh ??

1 minute ago

Posted by stockraider > 2022-09-04 13:54 | Report Abuse

All back up by facts & figure lah!
Read again very carefully loh!

Why General Raider says Sifu Sslee analysis on Hengyuan is dangerous flawed ?

1. Looking at the balance sheet HRC hedging losses as at 30-6-2022 amounted to rm Rm 1,329M of this sum of losses Rm 1189m or 90% are contributed by just 6 mths of operation result for the latest 30-6-2022 Financial result loh!

2. HRC derivative outstanding liabilities todate is Rm 1,781M whereas is derivative assets is Rm 261m, meaning net derivative negative exposure is Rm 1,520M.....meaning the counter party should be able received payment of Rm 1,520M from Hengyuan, it is just like your share margin losses loh!

3. Then why counterparty did not ask for margin call , since HRC has a huge negative equity of Rm 1520M leh ? Yes the counter party did ask for margin top up and hengyuan already paid, this can be seen from other receivable & prepayment payout increases by Rm 1,542M for the 6 mths mah!

In otherwords, Hengyuan 6 mths operating cashflow b4 working capital changes should be Rm 939m, after less Rm 1542M derivative top up amounting to negative cashflow of Rm 603M mah!

The route to potential financial collapse of Hengyuan, are written all there in the Derivative mah!

Do not get into this trap loh! Despite Hengyuan generated record positive operation cash flow of Rm 939m, its negative cashflow from derivative losses is rm 1,542m ( which already payout as other prepayment} thus HRC negative cashflow is Rm 603M.

Most importantly, Hengyuan borrowing & derivative liabilities had ballooned to Rm 3285M from just Rm 705m as at 31-12-2021 which a staggering increase of Rm 2580M, just within 6 mths and of this sum Rm 1542M is due to margin top up of derivative losses in the form of prepayment mah!

Lu tau boh ? The rot of Hengyuan has intensified alot loh!
Be very careful mah!


Posted by MoneyMakers > 18 seconds ago | Report Abuse

S’raider u stuck high HY at what price during 2018 collapse (rm19-rm3)??

See u got crazy ptsd @ forever hate HY

Posted by UlarSawa > 2022-09-04 13:56 | Report Abuse

Dia tak tau ingat Raider loss kaw kaw at HY last time jadi super promoter. Haiyoh. Correct?


Lu tau boh ? The rot of Hengyuan has intensified alot loh!
Be very careful mah!


Posted by MoneyMakers > 18 seconds ago | Report Abuse

S’raider u stuck high HY at what price during 2018 collapse (rm19-rm3)??

See u got crazy ptsd @ forever hate HY

13 seconds ago

Posted by eagerinvestor > 2022-09-04 13:58 | Report Abuse

hengyuan is commodity player. good eg shud be gold and not shares. if u make losses in gold derivatives and your gold value go up or down in tandemn with the derivatives. u make in physical gold loss money on derivatives. so is lp pl

Posted by i3lurker > 2022-09-04 14:00 |

Post removed.Why?

Posted by probability > 2022-09-04 14:01 | Report Abuse

@raider for you query above:
Among the two possibility below derived by sslee, only gasoline fits the hedged crack value as found in 2021 annual report page 130 where the max margin was around 12 USD/brl.

The lowest crack spread closing on 30 June 2022 is only for gasoline around 31USD/brl (others like Diesel & Jet Fuel is way higher).
Only using the lowest mark to market crack spread end of June 22, you can derived the low value hedged crack spread as per annual report of about 12 USD/brl.
Using gasoline the hedged barrels is 18 millions as derived by sslee.
As such, you need to be good in maths to understand how these are deduced.

Posted by Sslee > Sep 2, 2022 8:59 AM | Report Abuse

Dear probability,
The outstanding Refining margin swap contract as on 30/06/2022
Notional amount: USD 226,945,000
Assets: RM 261,065,000
Liabilities: RM 1,751,332,000
Hence unrealized loss RM (1,751,332,000-261,065,000) = RM 1,490,267,000

On 30/06/2022:
Mogas92 crack spread: USD 31.578
Diesel crack spread: USD 56.125
Average of the two USD (31.578+56.125)/2= USD43.85
USD to MYR: 4.397

V: Volume of outstanding refining margin swap contract (Barrels)
A: Average outstanding margin per barrel hedged (USD)

Equation:
from notional amount: V x A=226,945,000 or V=226,945,000/A
from unrealized loss: V x (43.85 – A) = 1,490,267,000/4.397

226,945,000 x (43.85 – A) = 338,928,133 x A
9,951,538,250= (338,928,113 + 226,945,000) x A
A= 9,951,538,250/565,873,133
A= 17.586
V=226,945,000/17.586
V=12,904,746

If you use only Mogas92 crack spread: USD 31.58
Equation:
V x A=226,945,000 or V=226,945,000/A
V x (31.58 – A) = 1,490,267,000/4.397

226,945,000 x (31.58 – A) = 338,928,133 x A
7,166,923,100= (338,928,113 + 226,945,000) x A
A= 7,166,923,100/565,873,133
A= 12.665
V=226,945,000/12.665
V= 17,918,718

Posted by Sslee > 2022-09-04 14:03 | Report Abuse

I3lurker is trying to practice his humor and sarcasm in i3 forum but not many people in i3 know how to appreciate his humor and sarcasm.

Posted by BobAxelrod > 2022-09-04 14:05 |

Post removed.Why?

Posted by stockraider > 2022-09-04 14:07 | Report Abuse

That is old 2021 info mah!

The dynamics could change anytime mah!

The public only had access to MOGAS 92 spread.....which is now negative margin loh!

We do not know, how & where Hengyuan very huge derivative losses come about, whether bcos selling or buying Crude, Gasoline or Diesel or Forex or a combination of all these loh!

Or is it really a fake....derivative structure to siphon out the value of hengyuan business mah!

Posted by probability > 36 seconds ago | Report Abuse

@raider for you. Among the two possibility below, only gasoline fits the crack hedged value as found in 2021 annual report page 130 where the margin max was around 12 USD/brl.
The lowest crack spread closing on 30 June 2022 is for gasoline only around 31USD/brl (other like Diesel & Jet Fuel is way higher). Only using the lowest, you can derived the low value crack hedged as per annual report of about 12 USD/brl. Using gasoline the hedged barrels is 18 millions as derived by sslee.
As such, you need to be good in maths to understand how these are deduced.

Posted by Sslee > Sep 2, 2022 8:59 AM | Report Abuse

Dear probability,
The outstanding Refining margin swap contract as on 30/06/2022
Notional amount: USD 226,945,000
Assets: RM 261,065,000
Liabilities: RM 1,751,332,000
Hence unrealized loss RM (1,751,332,000-261,065,000) = RM 1,490,267,000

On 30/06/2022:
Mogas92 crack spread: USD 31.578
Diesel crack spread: USD 56.125
Average of the two USD (31.578+56.125)/2= USD43.85
USD to MYR: 4.397

V: Volume of outstanding refining margin swap contract (Barrels)
A: Average outstanding margin per barrel hedged (USD)

Equation:
from notional amount: V x A=226,945,000 or V=226,945,000/A
from unrealized loss: V x (43.85 – A) = 1,490,267,000/4.397

226,945,000 x (43.85 – A) = 338,928,133 x A
9,951,538,250= (338,928,113 + 226,945,000) x A
A= 9,951,538,250/565,873,133
A= 17.586
V=226,945,000/17.586
V=12,904,746

If you use only Mogas92 crack spread: USD 31.58
Equation:
V x A=226,945,000 or V=226,945,000/A
V x (31.58 – A) = 1,490,267,000/4.397

226,945,000 x (31.58 – A) = 338,928,133 x A
7,166,923,100= (338,928,113 + 226,945,000) x A
A= 7,166,923,100/565,873,133
A= 12.665
V=226,945,000/12.665
V= 17,918,718

Posted by BobAxelrod > 2022-09-04 14:07 | Report Abuse

Sslee....HY cracking MOGAS 92 or 95....???

Posted by probability > 2022-09-04 14:10 | Report Abuse

@raider,
if you understood what has been presented, your last statement will be absurd.... in fact the whole aim is to tell what happens when crack spread of gasoline goes zero or negative where HY still makes money unlike those refinery that did not hedge!

Posted by stockraider > 2022-09-04 14:13 | Report Abuse

As for MOGAS gasoline & diesel hedging, it is actually unnecessary bcos....the Msia Govt already set the price base on crack spread mah!

What the refinery need to do is to lock in & secure the crude inventory and price loh?

Hengyuan losses to tune of billion, seems to be highly excessive & unimagineable loh!

Some may think is done intentionally just to siphon money loh!

Posted by MoneyMakers > 2022-09-04 14:13 | Report Abuse

S’raider u stuck high HY at what price during 2018 collapse (rm19-rm3)??

See u got ptsd @ forever hate HY

Posted by UlarSawa > 2022-09-04 14:14 | Report Abuse

Thats why Raider highlighted the hedging loss is even more than all the past generated profits with hedging even at negative crackspread. You add up all also can see mah. Still at hedging loss. now Raider suspect the money loss not really on hedging but siphon out lah. Thats the main point lah. Haiyoh. Correct?


probability

@raider,
if you understood what has been presented, your last statement will be absurd.... in fact the whole aim is to tell what happens when crack spread of gasoline goes zero or negative where HY still makes money unlike those refinery that did not hedge!

50 seconds ago

Posted by probability > 2022-09-04 14:14 | Report Abuse

@MM, if you say these last year on your pessimistic view on HY i can accept....but we have entered golden age for refinery...... the margins they are making are not peanuts.... ROI is less than half a year now for HY's mcap ...and refineries takes 5 years to build

Posted by Sslee > 2022-09-04 14:15 | Report Abuse

My starting comment to PSAi3alert,
So let me repeat again:
I do not have information on HRC hedge position nor the duration of hedged nor whether HRC overhedged or underhedged. But be objective and look into Q2 result.

Sep 4, 2022 7:43 AM | Report Abuse

PSAi3alert,
Quote "HRC's latest quarterly gross profit of RM912.942M will be attributable to prevailing operating crack margins. The derivative losses will take out the difference between the current and previously hedged margins. Unfortunately, the losses of RM1,079.600M suggest that they have over-hedged and started gambling.

To suggest that the derivative losses will unwind themselves will give rise to an unlikely scenario - whereby a refinery company can be profitable during periods of negative crack margins, and have superior profits during periods of very high crack margins (that were hedged 12 months ago).

Sounds like a unicorn" unquote.

I do not have information on HRC hedge position nor the duration of hedged nor whether HRC overhedged or underhedged. But be objective and look into Q2 result.

Posted by UlarSawa > 2022-09-04 14:16 |

Post removed.Why?

Posted by stockraider > 2022-09-04 14:17 | Report Abuse

The key is how probability knows about the specific profit margin of Hengyuan Gasoline & Diesel when this data unavailable leh ?

The public only had access to MOGAS 92 spread.....which is now negative margin loh!

We do not know, how & where Hengyuan very huge derivative losses come about, whether bcos selling or buying Crude, Gasoline or Diesel or Forex or a combination of all these loh!

Or is it really a fake....derivative structure to siphon out the value of hengyuan business mah!

Posted by eagerinvestor > 2022-09-04 14:18 | Report Abuse

a company that able to make bil in a quarter having a bil hedging is excessive?

Posted by UlarSawa > 2022-09-04 14:19 |

Post removed.Why?

Posted by stockraider > 2022-09-04 14:19 | Report Abuse

And also how probabilty knows....Hengyuan has hedge 18 million barrel ?

Posted by PSAi3alert > 2022-09-04 14:19 | Report Abuse

SSLee,

It will make sense if the hedge positions are being closed for previous positions and being opened for future positions, on a monthly basis.

If the refining margins remain at USD40/barrel until end of the year, the gross profit will be high. But then again, the contracted derivative losses may well be over USD30/barrel. After subtracting other costs, interests, defaults, etc; there will not be much left.

Under the best case scenario, HRC can accumulate enough cash to close out all positions and settle borrowings, the cash is with HRC. Just like cash is with Ah Thong of Insas. Nothing to do with you.

On balance, I will issue a DNAA (discharge not amounting to an acquittal) for HRC from the 'Fat Kap Nar jumping in the street' list.


---

Posted by Sslee > 19 minutes ago | Report Abuse
...

Since the unrealised derivaties is marked to market on 30/6/2022. Thus a very high unrealised loss because spread margin is almost at peak of USD 40+ on 30/6/2022.

If this peak spread margin presist till year end then H2 will have huge realised derivative loss but then again the physical business of buying crude, refining to finished product and sold the finished product will earned you super super fat refinimg margin of USD 40 per barrel.

You can expect about another 21 million barrel for H2.
So do the math.

Posted by UlarSawa > 2022-09-04 14:20 | Report Abuse

Only good time can make billion. When bad time pun loss making juga lah. Now good time earned alot but too bad loss too much on betting lah. Haiyoh. Correct?

eagerinvestor

a company that able to make bil in a quarter having a bil hedging is excessive?

20 seconds ago

Posted by stockraider > 2022-09-04 14:21 | Report Abuse

Correction loh....For June 2022 qtr it is actually more than Rm 400m net losses but more than Rm 1 billion hedging losses mah!

Posted by eagerinvestor > 29 seconds ago | Report Abuse

a company that able to make bil in a quarter having a bil hedging is excessive?

Posted by UlarSawa > 2022-09-04 14:23 | Report Abuse

Talk until cow come how pun cannot tell how the mgmt did the hedging. You all can make assumptions but correct assumptions or not you only can guess nia nia. May not be the real case also leh. Haiyoh. Correct?

Posted by Sslee > 2022-09-04 14:23 | Report Abuse

RON refer to octane number

Octane number or octane rating refers to the gasoline ability to withstand auto ignition (knocking) inside the engine. Higher octane number refers to higher ability of the oil to fight auto ignition. In other words, it means that RON95 is harder to ignite compared to RON92

Way of increasing the RON is used gasoline octane boosters as additives, such as tetraethyl lead (TEL), methyl tertiary-butyl ether (MTBE), and ferrocene. Aromatic alcohols, ethanol, and methanol also increase the RON of gasoline.

Posted by i3lurker > 2022-09-04 14:24 | Report Abuse

sslee
I suggest that you raise the Question whether derivatives were done with licensed brokers at HRC AGM.

Hopefully you will NOT get a JAKS type reply.

Posted by UlarSawa > 2022-09-04 14:24 | Report Abuse

Yout assuptions and Raider assumptions not tally with each other. Like 2 polars apart leh. Haiyoh. Correct?


probability

@raider,
you need to spend at least 30 min to digest what has been presented, unless you dont have the ability to chew and digest and you need to spit out immediately... then i wont be able to keep trying to feed back

2 minutes ago

Posted by UlarSawa > 2022-09-04 14:25 |

Post removed.Why?

Posted by stockraider > 2022-09-04 14:30 | Report Abuse

Thats why i say....u cannot inferred from SSLEE simply guessing by trying very to fit into the margin for gasoline loh!

Dynamic can or has change mah!
Like type of crude, processes of refinery and management intention to churn type of product mix etc loh!

Any misuse of assumption & data will derail this SSLEE very crude model mah!

The possibility of SSLEE model is highly inaccurate is possible mah!

Lu tau boh ??

Posted by UlarSawa > 2022-09-04 14:30 | Report Abuse

Uncle Koon ever cakap b4. Directors only cakap good about the company never cakap bad about the company one. This one from Uncle Koon leh. He makan garam alot one leh. Mau caya lah. Haiyoh. Correct?

Posted by UlarSawa > 2022-09-04 14:33 | Report Abuse

Did the HY press released and newspaper ada tulis about HY derivative loss or not. Takda right. Only tulis explosive QR Report With 222sen eps. Haiyoh. Correct?