at least better than no news, if follow oil already down like nobody business. Got projects and profit in the hand, dont care much about oil price, just people emotion.
KNM is a company with global brand. It is renowned as a well diversified group of companies with its core business in process plants, modules and O&M equipment, process technologies and engineering, plant services and turnkey systems provider for the oil, gas, petrochemicals, minerals processing, desalination, renewable energy, chemicals, steam generation, power and environment industries...it still hurt for KNM if oil price keep dropping..
What's goes up, it must comes down. What's goes down, it must goes down, oops, up! When I look down, it still down.... wait, .... still can go up. No problem. he he!
In the end, it will come down to survival of the fittest. Players who have higher breakeven costs will be the ones who will blink first and thereby reduce their production levels. In the present scenario, the U.S. shale drillers, who have very high breakeven costs, are going out of business and we are already witnessing how U.S. production is falling every month since April. Still, oil prices remain below the $50 per barrel mark.
The ‘survival of the fittest’ also applies to Middle East oil producers, and especially to Saudi Arabia, the undisputed leader of OPEC. As widely reported by the media, the International Monetary Fund has warned that Saudi Arabia is now facing the possibility of going broke in the next five years, while the other Middle Eastern nations like the UAE, Kuwait and Qatar have foreign reserves that could last for almost twenty years. The desert kingdom is now facing a massive budget deficit of $36.8 billion according to its 2015 budget figures and is burning its foreign reserves at an alarming pace. Although Saudi Arabia is responding to this crisis by cutting spending, postponing several projects and by attracting foreign investment, is it doing enough to salvage the situation?
Many experts now believe that Saudi Arabia will eventually be compelled to cut its production levels as its rising budget deficit will leave the desert kingdom with no other option. And, with Saudi Arabia deciding to cut the production, we can expect oil prices to bounce back in the longer run. Until then, oil prices will continue to remain bearish and volatile. Although it is almost certain that OPEC will not change its strategy in its next meeting in Vienna, it is unlikely that it would maintain this stance for too much longer in 2016.
Traders or investors are interested in Oil and Gas, oil's price up and down, depends on demand and supply. This evening price up is because of large drawn down on crude oil in US. Another factor is the US Dollar Index, drop maybe due to FED's interest rate hike may not happen for this year.
@Simon, that is a question I can't answer. Let say, if oil price drops and KNM get the Rapid project, will the KNM price goes up or down? This will be an interesting event to see. Don't you think so!
KNM: Signs definitive contract for RM268.4m solid waste project. KNM Group said it has signed a definitive contract with Cypark SB for the RM268.4m solid waste project. KNM said its wholly-owned subsidiary, KNM Process Systems SB, via SHK Consortium, has signed the definitive contract agreement to undertake engineering, procurement, construction and commissioning (EPCC) works of the solid waste modular advanced recovery and treatment systems waste management solutions at Ladang Tanah Merah, Negeri Sembilan. (Financial Daily)
Date interest acquired 27 Oct 2015 No of securities 2,681,500 Circumstances by reason of which Securities Holder has interest Acquisition of shares by EPF's portfolio manager Total no of securities after change Direct (units) 98,123,020 Direct (%) 5.06
it means EPF buy shares from kmn. it means i must do more research on which country to go for a holiday. Switzerland? love the chocolate....hey who am i to bluff?!! its them handbags!!!!!
Don't enter above 50sen...it may fall to 36sen..that's KNM historically 52-weeks low...due too it cannot break 65sen for quite sometimes already....once KNM break 50sen this time...it will test 36sen...wallahuallam
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....
BRAVOZULU
544 posts
Posted by BRAVOZULU > 2015-10-27 22:19 | Report Abuse
agree with u 1009, to night oil drop below 43 usd. tomorow knm can collect at 48c.