why on earth would the CEO release the bad news one week before the quarterly results are to be formally announced? It is as if he is trying to reduce his own company's share price on purpose.
Everybody knew umw next q will be big lose due to oil asset write off . The CEO has said 2017 will turn around...so you will expect the price recover after all the panic sell now...
The prospect of a sustained recovery for the oil and gas industry is highly dependent on the impending outcome of the OPEC’s decision to cut oil production to ease supply glut that has weighed on prices for the last two years. In addition, uncertainties in global economy and geo-political environment following recent global events may impact the direction of the oil and gas industry. While there is volatility at global level, increase in activities in domestic and regional fronts does provide indication of a gradual recovery. The recent award of drilling contracts for UMW NAGA 8 and UMW NAGA 2 by Hess Exploration and Production B.V. and Ophir Production Sdn Bhd, respectively, in addition to the previously awarded long term contract for UMW NAGA 6 by Petronas Carigali Sdn Bhd, augurs well for our future prospects. The increase in the number of tenders being called by oil and gas companies in the region further illustrates a potential recovery in drilling activities both in Malaysia and Southeast Asia. UMW NAGA 6 mobilised to location end of September 2016 under a 2-year drilling contract and UMW NAGA 8 commenced operation in early November 2016 after securing a contract in October 2016 for a duration of eighteen (18) months with an option to extend for another year. As such, asset utilisation is expected to improve in the last quarter of 2016. The Group is currently in various stages of tendering a number of local and overseas contracts and is optimistic that asset utilisation will improve progressively over the next few quarters.
Why we need to worry ? UMWOG this qr should can improve
Name : EMPLOYEES PROVIDENT FUND BOARD Details Date of Change. No of shares Price Transacted(RM) Transaction type 15/02/2017 220,000.000 0.000 Acquired 15/02/2017 18,200.000 0.000 Acquired 15/02/2017 289,800.000 0.000 Disposed
New IPO: Building management systems (BMS), solar thermal systems and energy-saving services provider, Solar District Cooling Bhd aims to list on the Ace Market!
MQ Trader 298 views | 1 d ago
0:17
New IPO: The onshore and offshore support services provider for the O&G industry, Steel Hawk Bhd aims to list on the Ace Market!
MQ Trader 11498 views | 10 d ago
0:17
New IPO: The largest mini-market player and a leading groceries retailer in Malaysia, 99 Speed Mart Retail Holdings Bhd aims to list on the Main Market!
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....
pang72
50,364 posts
Posted by pang72 > 2017-02-18 00:13 | Report Abuse
Acquired 10 Feb 2017
200,000
Acquired 14 Feb 2017
600,000
Acquired 14 Feb 2017
141,000
Acquired 14 Feb 2017
15,000