this QR has an additional shipment that missed 1Q book entry. It was brought into 2Q. So with the upcoming heavy turnaround, brent fuel oil drop which leads to lower ASP, RM weakening against USD, I think I will give await.
Shinnzaii......with crude oil price downtrend and USD strengthening, how will it be stabilised? I think the ASP will face more pressure couple with further heavy maintenance.......
Got in at 7.1, got out at 7.26, 1.3% gain, not bad, but for long term no way am i holding this, u cannot know the bottom. Anyway i still think the rapid commencement will initiate price war between pchem and lctitan. That could only mean race to the bottom, similar like telco ARP. Now there is mention of rate cut from BNM which should take place in september, it will close usd-myr parity diminishing any hopes of forex gain next time. Im suprise MIDF is postive in this counter.
>titus Shinnzaii......with crude oil price downtrend and USD strengthening, how will it be stabilised? I think the ASP will face more pressure couple with further heavy maintenance.......
got others product to minimize the impact but not enough to offset that why next quarter should be softer revenue than this quarter...wait for 6pm for Q2 presentation....no rush...maybe can get some info from there...hehe
EX-date 27 Aug 2019 Entitlement date 28 Aug 2019 Entitlement time 04:00 PM Entitlement subject Interim Dividend Entitlement description Interim Single Tier Dividend of 11 sen per ordinary share for the financial year ending 31 December 2019 Period of interest payment to Financial Year End 31 Dec 2019 Share transfer book & register of members will be to closed from (both dates inclusive) for the purpose of determining the entitlement Registrar or Service Provider name, address, telephone no BoardRoom Share Registrars Sdn Bhd (Company No. 378993-D) (Formerly known as Symphony Share Registrars Sdn. Bhd.) Level 6, Symphony House, Pusat Dagangan Dana 1, Jalan PJU 1A/46, 47301 Petaling Jaya, Selangor Darul Ehsan, Malaysia Tel:0378490777 Fax:0378418151 Payment date 13 Sep 2019 a.Securities transferred into the Depositor's Securities Account before 4:30 pm in respect of transfers 28 Aug 2019 b.Securities deposited into the Depositor's Securities Account before 12:30 pm in respect of securities exempted from mandatory deposit c. Securities bought on the Exchange on a cum entitlement basis according to the Rules of the Exchange. Number of new shares/securities issued (units) (If applicable) Entitlement indicator Currency Currency Malaysian Ringgit (MYR) Entitlement in Currency 0.11 Par Value (if applicable)
Remarks : Interim Dividend of 11 sen per ordinary share
Announcement Info Company Name PETRONAS CHEMICALS GROUP BERHAD Stock Name PCHEM Date Announced 13 Aug 2019 Category Entitlement(Notice of Book Closure) Reference Number ENT-13082019-000 for more news about pchem please contact me @ website-www.leotraderesearch.com telegram- @paullau29
Steps have already been taken in this quarter to build up inventory in anticipation of turnaround activity in next quarter. Abstract from quarter report:
Olefins and Derivatives The segment recorded higher plant utilisation of 97% compared to 88% in the corresponding quarter primarily contributed by improved plant performance. Production volume increased following better plant performance. However, sales volume is comparable due to INVENTORY BUILD UP IN PREPARATION FOR PLANT STATUTORY TURNAROUND ACTIVITY IN THE UPCOMING QUARTER
Bought 200k shares at 7.12, averaged down on margin and enjoying my dividend yield. I owe Donald Trump dinner. His invented trade war and market uncertainty has given me a buying opportunity to build up my position in pchem. I ended up paying 7.01 for my block of PCHEM shares, amazing discount day, with 11 cents dividend.
Hopefully more discount days for PCHEM to come, all the while management it's moving towards commercialization of PIC in 4Q, ( killing overpriced Lotte) and doubling revenue in the coming years, acquisition of da Vinci ( opening up their loreal, Korean and Japanese skincare aromatics market), which will increase 5% to their earnings next year.
Why spend the effort to be contrarian when one can just be a part of an amazing company?
“Crude oil prices have dropped by 15 per cent since the Q2FY2019 average of US$68 per barrel over the exacerbating US-China trade war tensions and weakening global economic prospects, which has led to a decrease in prices of chemical compounds such as polyethylene, methanol and paraxlene,” it added.
It also expects weaker Q3 results, following average PU, could subsequently drop to below 80 per cent due to a turnaround in activities, but is expected to rebound in the following quarter.
I rarely look okay short term results, but concentrate more on their long term opportunities. Their huge cash hoard, their excellent acquisition of da Vinci and ability to leverage capital to grow the specialty chemicals division as well as production of PIC next year will ensure that long term, buying at 7.12 and averaging down would be an excellent decision.
Was waiting for the presentation transcript but not out yet. But the Q3 outlook on presentation pack, most product range-bound or neutral and polymer and methanol expected to fall. Also, Becky mentioned that they have built up inventory in anticipation of Q3 shutdown. Meaning, if compare today, they have bought their feedstoock at a higher price\. It was reported that brent was on average at $66 and if brent keeps on going down which is now below 60, does that means that their ASP will be lower for all Q3 sales? Also, the maintenance not only affects production but Q3 will have a higher maintenance cost.
Thnaks Becky but was not aware of the feedcosts is fixed. But having fixed cost is also not necessary a good thing. If like our ron95 fixed at a price and whent brent down, it does not gain from the drop but of course if brent goes up alot, it benefit alot. Anyway, for myself, i will just wait further because i don't have deep pocket like Philip.....lol..... If it rebound, i be happy as well........
Rapid facility expecting to start operation in Q4, im thinking to reenter now before institutional investor go in and make it too high entry price, but still concern about the maintenance and plant shutdown and whether the inventory pile up is enough to cover the duration. Confusing and afraid of trump factor too..
US-CHINA Trade War market uncertain, local and foreign funds money would not flow in big cap and mid cap stock because everybody scare buy high losses money . In this few month expect Funds manager money would flow out in bigcap and midcap stocks and will short selling midcap stocks for make money so now no prospects cannot buy and hold . TOP volume all low prices stocks.This is a opportunity ,markets money now flows in cheaper stocks. sharks now start goreng lows price stock at bottom..
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Chokhmah
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Posted by Chokhmah > 2019-08-13 13:51 | Report Abuse
So, what is good entry price for this counter judging from current situation?