It can't blame on calvintaneng, cause this is a cyclical monsoon season, and all counter of O&G company will affected by it... The company still can deliver positive digit profit is much blessing d.. I believe with good fundamental base, it will come back profit on the coming quarter..
Calvin says uzma looking for high quality jobs with good margins. If that is so, why did revenue increase buy profit drop by 69.6%? Let's try to understand calvin tan method of thinking. The best is to start by asking the obvious question. How many percent of his 36 recommended stocks portfolio within this 5 months should we invest in? 2% of your average cost? If that is the case in a 100k portfolio we invest only 2k? This is a really waste of energy commenting.
But we shall push forward. Maybe Calvin tan is actually a 200% return guy? We shall edit this portfolio when and if he does a sell call on any of his promoted stocks to take profit.
The management of, Airasia, FGV and too UZMA, also mentioned current quarter will show good results but....always prepared for it.. up or down doesn't matter as long the fundamental is still intact ^o^^o^^o^
THIS YEAR UZMA SECURED 2 JOBS. ONE IN THAILAND & ONE IN INDONESIA
PROSPECTS AND PROGRESS TO ACHIEVE FORECAST FOR NEXT FINANCIAL YEAR (CONT’D) (xiii) As announced on 14 March 2019, PT Cougar Drilling Solution Indonesia (“PTCDSI”), 90.25% fellow subsidiary of Uzma had been awarded a contract for the Provision of Directional Drilling Services for PT Pertamina Hulu Energi Onshore West Java (“PHE-ONWJ”). The tenure of the contract is two (2) years from 25 February 2019 to 25 February 2021 with an extension option subject to the approval of SKK MIGAS, an institution established by the Indonesia government to manage upstream oil and gas business activities. The execution of contract is depending on work orders to be issued to PTCDSI from time to time at the discretion of PHEONWJ. Hence, any delay in issuing work orders will lead to delay in revenue recognition. The Group expects the contract to contribute positively to its future earnings by taken into the consideration of risk associated with the contract. (xiv) As announced on 19 March 2019 and 20 March 2019, MMSVS Group Holdings Co., Ltd (“MMSVS”), a wholly owned subsidiary of the Group had been awarded a contract for the Provision of Onshore Hydraulic Workover Services (340K) for PTTEP International Limited, PTTEP Siam Limited and PTTEP SP Limited. The tenure of the contract is three (3) years from 1 March 2019 to 30 June 2022 with a maximum extension option of one (1) year. The Group expects the contract to contribute positively to its future earnings by taken into the consideration of execution risk associated with the contract.
PROSPECTS AND PROGRESS TO ACHIEVE FORECAST FOR NEXT FINANCIAL YEAR Barring any unforeseen circumstances, the Directors remain optimistic with the Group’s prospects for the remaining period to the end of financial year and next financial year, based on the positive developments of the Company specific in PTD 2018 as follows:
Recovery may take longer than expected. The discrepancy in our forecast versus reported numbers are actually due to the Pulai A Plug & Abandonment project. Although contributions improved this current quarter, recognition was below expectations. This is mainly due to the extension of the contract’s lifespan to Sept 2020 from June 2019 initially. Hence, earnings contribution will be spread over up to 1QFY21. While it is making good progress, works are taking longer than expected, with 30 days spent per well from the previously guided of 17 days/well. Uzma is currently working on well #7 from a total of 22. Total Group orderbook currently stands at RM1.3bn, with RM800m in firm contracts and estimated RM500m likely from umbrella contracts. Tender book remains healthy at RM3bn.
PUBLIC BANK IB DIDN'T TALK TO MANAGEMENT
GOOD!!!
ACCORDING TO MR BONG OF UZMA
NORMAL WELL DECOMMISSIONING TAKES 10 TO 14 DAYS
IF GOT DELAY BETTER AS PAYMENT IS COMMENSURATE PER JOB IN TIME DONE
SO 30 DAYS ANYTIME BETTER THAN 14 DAYS
THAT MEANS MORE PROFIT (AND EXTENDED PROFIT) IF CONTINUES TILL YEAR 2020
DON'T MISREAD FINANCIAL STATEMENTS IF THESE ARM CHAIR ANALYSTS DON'T KNOW ACTUAL STATUS
CALVIN TAN RESEARCH CALLS FOR BUY UZMA ON WEAKNESS
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calvintaneng
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Posted by calvintaneng > 2019-05-29 19:22 | Report Abuse
So many naysayers so happy?
Wait lah
Let Calvin check up why management so positive, ok