For me I don't think so oil going to reverse back. USA can determine the oil price as their previous attempt to bring down the oil price meet failure (SPR released). Its CNY time ma, people active travelling across the continent...syiok ma gong xi fa chai. Nevertheless, China economy fully reopen already, covid just a history..possible oil to shoot usd90 again in near term.
I believe Armada Claire has been sold for scrap. Not sure what residual value can be realised, I think it'd be around USD12mil - USD15mil. We should get further information during the Q4 22 results release in end-Feb 2023.
Velesto shot up faster than Armada, from 0.15c within 2 weeks touched 0.20c. Armada still floating around 0.50c..adoi! Normally velesto we called it veryslow but now veryslow becomes fast and furious...hahaha! Wahai! Armada bangkit lah..
China hunger for crude oil after mass opening of economy. Very very good news for our local rigs and fpso players. Ini kali lah...hidup Armada!!!!
Chinese imports of crude oil from Malaysia surged in December to a record 1.3 million barrels per day (bpd), placing Malaysia – whose daily crude production is three times lower – third among China’s biggest crude oil suppliers, only behind Saudi Arabia and Russia.
Chinese crude oil imports from Malaysia exceeded the volumes of crude purchases from OPEC heavyweights such as Iraq and the United Arab Emirates (UAE) last month, according to data from the General Administration of Customs of China cited by Bloomberg.
The volume of China’s imports of crude oil from Malaysia was three times the average daily production from the Southeast Asian producer between January and September 2022.
This has led many analysts to speculate that a large part of the crude from Malaysia – a known hub for ship-to-ship (STS) transfers – actually originated from producers under sanctions such as Iran, Venezuela, or Russia.
Generally, independent Chinese refiners are unfazed by sanctioned oil as their priority is to buy low-priced crude and make good profits refining it.
China continues to buy Iranian and Venezuelan crude, often masked as crude from Malaysia or Oman, various analyses and investigative reports have found over the past few years.
Venezuela is using false documents and tankers linked to Iran and is known for carrying sanctioned Iranian crude in the past, a recent investigation by Reuters showed. Venezuela is selling oil to Chinese refiners, passing it off as Malaysian crude in documents, the investigation showed.
Last year, Chinese customs data at times showed so many imports from Malaysia that analysts and observers believe that China continues to import sanctioned oil passed off as coming from Oman or Malaysia.
Meanwhile, Saudi Arabia was again the single biggest oil supplier to China in 2022, despite a surge in Chinese purchases of crude from Russia, which stayed second-placed on the list of top suppliers to the world’s largest crude oil importer.
Impending changes at GLCs There are expected to be some changes at other government linked companies (GLCs), following the leadership change in Putrajaya last November.
Some say the changes could take place as early as after Chinese New Year.
Speculation is rife that there will be changes at the helm of the Employees Provident Fund (EPF). Its current chairman is Tan Sri Ahmad Badri Mohd Zahir and its CEO is Datuk Seri Amir Hamzah Azizan.
However, when asked about the possibility of changes, one senior EPF executive says, “Rather than musical chairs, one should focus on getting things done … In this period, of course there are a lot of rumours, but it’s only true when in black and white.”
Ahmad Badri, the former secretary-general of the Treasury, was appointed EPF chairman on May 1, 2020. Amir Hamzah, meanwhile, was appointed to the top job at EPF in March 2021 after a stint at state-controlled utility company, Tenaga Nasional Bhd, and a number of companies under Petroliam Nasional Bhd.
EPF is one of the oldest and largest retirement funds in the world with about RM1 trillion in assets under management.
Some of its key assets are banking and financial services outfit RHB Bank Bhd, in which the pension fund has 42.14% equity interest; Malaysian Resources Corp Bhd (36.21%), and highway operator PLUS Malaysia Bhd (49%). Khazanah controls 51% of PLUS Malaysia.
There is also speculation changes will take place at Permodalan Nasional Bhd (PNB), where the chairman is Tun Arifin Zakaria. The 72-year old former Chief Justice of Malaya may opt to leave, according to sources. His likely successor is not known.
PNB, which had RM336.7 billion in assets under management as at end-2021, has a number of subsidiaries. They include Malayan Banking Bhd, in which it has about 47% equity interest, and Sime Darby Bhd, where it has about 50% interest.
PNB is also a major shareholder of Sime Darby Plantation Bhd (56%), Sime Darby Property Bhd (57%), Sapura Energy Bhd (40%), developer S P Setia Bhd (about 60%) and Velesto Energy Bhd (52%), among others.
Also in the spotlight is ailing Boustead Holdings Bhd and its 59.42% shareholder, Lembaga Tabung Angkatan Tentera (LTAT).
The group managing director of Boustead Holdings, Datuk Seri Mohammed Shazalli Ramly, left in November last year after completing his two-year contract. Chairman Datuk Seri Mohd Redzuan Md Yusof, who was a former minister and member of parliament under Bersatu, resigned last week.
LTAT’s chairman is General (Rtd) Tan Sri Raja Mohamed Affandi Raja Mohamed Noor, while its CEO is Datuk Ahmad Nazim Abd Rahman.
Through Boustead Holdings, LTAT has 65% equity interest in Boustead Heavy Industries Corp Bhd, 57.4% in Boustead Plantations Bhd and 20.85% in Affin Bank Bhd. LTAT also has a direct 33.08% stake in Affin Bank.
It is understood that the contract of Lembaga Tabung Haji’s (LTH) managing director and CEO Datuk Seri Amrin Awaluddin is ending in May this year and according to sources, he is not keen to have it renewed.
Some of LTH’s large investments include 30% in IT and telecommunications company Theta Edge Bhd, almost 74% in TH Plantations Bhd, 48.28% in Bank Islam Malaysia Bhd and 28.26% in insurance player Syarikat Takaful Malaysia Keluarga Bhd.
That means our PM gives priority to our local O&G sectors as most of the local players not strive to excellent under previous administration...example Sapura and Velesto. One of the Petronas obligation now is to give more contracts to our local O&G companies that running the fpso or rigs services. Very Good news indeed....
Wow, so quiet here. I would expect a few happy people commenting. I remember when this was a turnaround story, 3 years ago, we had maybe 50 messages on a good day like today.
Which shows me that when armada becomes a story again, we could be at much higher level. Oil and gas stocks are bought by hedging funds and other boring capital. They are cautious, so are the moves up and down. The excitement of the general public ...
Robert, if anything, that should be a good thing! We could potentially extrapolate that there's more institutional presence in the recent run up, and on the flip side, there's been less retail interest in the company. Most retailers probably already sold off in the 40s and moved on.
In any case, not much to be happy about vis-a-vis share price movements per se. I'll only be happy when there's good news!
I have been holding Armada since 7 years ago and it is still at the top of my share investment portfolio at about 35- 40 % of my total invested values. Over the last few years I do trade about 1/4 to 1/3 portion my Armada shares holding from time to time to get some " dividends" as Armada price fluctuates periodically. My main aim is still seeing the Armada fully reflect its full values one day. Despite its attractive intrinsic values, Armada price is always below its book values too much and far too long. Despite Armada is paying off its debt with its strong cash for the last 4-5 years, its share price has no major break up beyond 60 sens since Sept 2018. I suspect either it is due to Armada never pay dividend for the period mentioned or there are hidden hands suppressing the share price whenever it goes up to facilitate accumulation by big players at low price. Is there a risk of Armada to be taken private by its major shareholder when its financial situations improved further in future and its share price still being suppressed for this particular corporate exercise?
Paying will be insane when paying down loans and holding cash reserves for potential projects are key. What we now need are a couple of contract wins in coming months for stock price to shoot up.
Bon, if anything, this is just the start of the resurgence. Net gearing back to 1.0x level. The company can now re-gear and make the most of the tight FPSO market. Hopefully the green energy stuff comes to fruition too. If the company gets new projects on an annual basis, we could be in a position Yinson was in around 10 years ago and we could easily be a 10-bagger.
Below are the list of companies that meets the F4GBM index criteria... Aeon Axis Boustead Bumi Armada CJ century Cross digital D&O green tech Dufu Eco world Ghl system Globetronic Hester Hong leong Kenenga inv Lbs inv Malaysia steel Mi tech Takaful TH plantation Uchi tech Wct holding...and many more.
Some example of companies that listed in bursa meets the F4FBM index requirementd. Not all go up..I guess
Crude oil prices have found a floor and the only way they can go from here would be higher. That’s according to RBC commodity analysts Helima Croft and Michael Tran, as quoted by Bloomberg.
“We remain constructive on the fundamental framework, and in fact, we would not be the least bit surprised if the lows of the year end up being the US$72/bbl (per barrel) print that we saw three weeks ago on the second trading day of the year,” they said, adding that China’s reopening had not yet been fully priced in to the oil market.
This might sound a bit surprising given that China’s reopening is being cited as the biggest reason behind oil prices’ recent climb upwards and as the biggest tailwind for them going forward.
Yet with reports coming in about still high infection rates in the world’s largest importer of crude oil, it may well be the case that China’s reopening has not yet been priced in to the oil market.
“We don't think that there's much that's being priced into the oil market as a function of China's reopening yet and the reason why is because the consumer path towards normalization is still going to be quite bumpy,” Michael Tran told Bloomberg in an interview.
This path to normalization will likely be marked by an increase in imports, which are still about 1.5 to 1.7 million bpd below where they were pre-pandemic, according to Tran.
Not all of these volumes need to return for oil prices to spike, the analyst noted, however. “The key idea here is we don't need to get all of that back for the market to rally significantly. If you start picking up a quarter million, half million, [or] one million barrels a day over the course of the next several months, you better bet that this is going to be an oil market that moves higher,” Tran told Bloomberg.
Come on fellow investors, what is your target price for taking some profit. I am looking for a price to book of around 1 which brings it in to line with SBM and Yinson. Thats around a ringgit.
RM1 could be tough to achieve if big boss not buying. fudrud Come on fellow investors, what is your target price for taking some profit. I am looking for a price to book of around 1 which brings it in to line with SBM and Yinson. Thats around a ringgit.
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....
Macgyver11
2,492 posts
Posted by Macgyver11 > 2023-01-17 13:27 | Report Abuse
For me I don't think so oil going to reverse back. USA can determine the oil price as their previous attempt to bring down the oil price meet failure (SPR released). Its CNY time ma, people active travelling across the continent...syiok ma gong xi fa chai. Nevertheless, China economy fully reopen already, covid just a history..possible oil to shoot usd90 again in near term.