Posted by colin888 > 2022-05-25 20:37 | Report Abuse

All indicators are strong but only thing is that we are different! Hopeless companies can limit up and continue to limit up and fake revenue company has so many support from retailers! Malaysia boleh! Boleh apa? I am not sure!

Posted by DatoChiakaLiau > 2022-05-25 21:46 | Report Abuse

How much they sold so far after 3Q? 2.5mil bbl? How much they expect to sell for FY22? 4.6Mil bbl, means last Quarter Apr-Jun they will sell 2.1mil which is equal to Total of last 9 months, Q4 revenue should be RM1.01Bil if oil price stay at $110, MYR 4.4. so how much is PAT with RM1.01B Revenue?

Posted by pang72 > 2022-05-25 21:47 | Report Abuse

Good result always making share tumble.
Is stock market work like this?

Posted by DatoChiakaLiau > 2022-05-25 21:48 | Report Abuse

FY2022 Offtake Schedule Figure 2 below illustrates the latest estimate of the Group’s oil and condensate offtake schedule and gas sales from our producing assets for the Next Quarter and FY2022. As of 31 March 2022, we have sold a total of 2.6 MMboe of oil, condensate and gas net to the Group. For FY2022, we estimate to deliver a total of approximately 4.6 MMboe of oil, condensate and gas, net to the Group.

Posted by kukubesi > 2022-05-25 22:47 | Report Abuse

I am a newbie. Can't brain out why the price move down although the company making a lot of profit.

Posted by speakup > 2022-05-25 22:50 | Report Abuse

it's not a profit actually, it's negative goodwill.

Posted by kakiminyak > 2022-05-25 22:51 | Report Abuse

25-May-2022 31-Mar-2022 297,060 330,399 307,540

The three numbers above are Revenue, Profit before tax and net profit.
Can someone explain why the revenue is so low???
Production has jumped from about 9000 barrels equivalent to 20, 000 barrels per day. So why revenue increase just by 20% from a year earlier before Repsol purchase.
Second question is why the profit declared is so much higher than the revenue???
Apa ini??? Accounting magic kah???
No wonder when the results were announced the share price straight fall and fall.

Posted by chkhooju > 2022-05-25 22:57 | Report Abuse

The QR reported was misleading. They should make it clear and report a spade, a spade.

Posted by kakiminyak > 2022-05-25 22:57 | Report Abuse

Revenue in lay man terms is SALES !!!
If sales increase only 20% when compared to one year ago, it means something is not right. The management needs to clarify. Production jump by 100%++ but revenue increase by only 20%???????
Hello??? Apa ini???

Posted by kakiminyak > 2022-05-25 22:59 | Report Abuse

Ayam sudah kena curi kah???

Posted by colin888 > 2022-05-25 23:03 | Report Abuse

Hey! Already mentioned that producing and selling is a different thing altogether! They extract oil and sell it now! Ok! This published oil average is at USD89! Damn good. They have foresight and will definitely sell more this quarter

Posted by colin888 > 2022-05-25 23:08 | Report Abuse

Just like if you know in the coming months your products will go up in price, you will source more of it, it this case they are extracting more than they sell in anticipation of high oil price! A good management with foresight has acquired Repsol at low price hence they are allowed to recognise negative goodwill. Sapura on the other hand purchased companies at the peak and now suffering! This is hopeless management with 90 mil salary

Posted by colin888 > 2022-05-25 23:09 | Report Abuse

And All of us are bailing them out ! A joke of the 21 century!

Posted by fh2472 > 2022-05-25 23:20 | Report Abuse

Kaki minyak, Q3 revenue was not as high as the production indicated because they kept the oil in the tank and sold most of the volume in the following quarter (Apr, May, Jun) - where the oil price was a lot higher. Good strategy.

Posted by mrcrab > 2022-05-25 23:35 | Report Abuse

Investing is forward looking. The outlook for Hibiscus in the coming quarters is very very promising. They are on the right track.

Posted by mokluhanj21 > 2022-05-25 23:35 | Report Abuse

Just a brief review of latest results: (vs last quarter)
1. In terms of Cash from Operations- grew from RM277 mil to RM616 mil
2. FCF: from RM268 to RM537 mil (disregarding one-off capex)
3. Interest coverage ratio dropped from >9x to 1.6x, in line with increased borrowings from RM19.2 mil to RM183mil
4. Finance cost also grew QoQ from RM20.4m to RM36.9mil

My worry is if the elevated borrowings can act as a source of financial risk. Otherwise, with the buoyant Brent & gas prices, FCF generation should be better going forward, especially as we are waiting from another >2mil bbl to be produced for this Quarter April to June 22.

Hopefully, Management will be extra cautious with capital management.

Posted by fh2472 > 2022-05-26 00:10 | Report Abuse

With 2.1 million boe in Q4 (double Q3 sale volume as most inventory to be monetised and full 3 months FIPC production), higher average oil price by 15%, and higher USD-Myr conversion rate by 5%, it is going to be better results definitely. Pare down the debt and accumulate capital to develop the contingent reserves and higher dividend pls.

Posted by Bobii > 2022-05-26 00:11 | Report Abuse

Production and selling is different thing. You can produce doesn't mean you need to sell immediately. Hibiscus operate by selling oil in batch. This quarter only got 1 offtake, they didn't sell much oil.

Posted by kakiminyak > 2022-05-26 03:17 | Report Abuse

Many good points noted. If they can accumulate the chickens in the coop and sell more at higher price than why not? Sure will be good loh. But i don't think can count chicken or eggs until we see the results in time to come. Which is another 3 months wait. Meanwhile can expect lots of volatility.
My concern for now is the lower sales revenue as compared to the expected triple after Repsol acquisition. Let's not forget it is not so much how much oil you have but how big is the demand and at what price. The price is beautiful but demand? That is now the key. What are the effects of China lockdowns and high price of oil at the pump. I personally have reduced travel to save on the increased expense. many others also doing the same?

Posted by Raymond Tiruchelvam > 2022-05-26 04:41 | Report Abuse

report says expected to produce/sell 4.6m boe as of FY2022, or july 21 - june 22, and since they have sold 2.6m boe as of Q3 cummulative, it means that Q4 alone they will sell 2m boe..... just in 1 quarter !!! Secondly, they sold about 1.5m boe in Q3 and made 15c EPS, that means Q4 EPS will be 20c prorated assume same price..... full year FY2022, thats about 40c EPS and against price of RM1.37 thats P/E of 3.425.... is this correct?

Posted by MichelleNg > 2022-05-26 06:24 | Report Abuse

Output never increase but cost hike. Thus, current share price only have limited upsize range. After big players cash out, may have more adjustmentmore

Posted by williamtkb > 2022-05-26 07:49 | Report Abuse

US start to release reserve oil. Most likely crude oil price going to drop liao. Hold cash better than 1cent dividend.

Posted by UPlanet > 2022-05-26 07:56 | Report Abuse

Come on la!!! Share price up or down, all FULLY CONTROLLED by JPM la!!! They want it up, all positive goodwill explanation will come out! If they want it down for their collection, all negative goodwill reasons will be out too!!! Owners or retailers zero right to say it so!!! Just read the syndicates minds & moves, then can understand more!!!

Posted by Markv572421 > 2022-05-26 09:11 | Report Abuse

Syndicate abviously can see the selling trend yesterday and today

Posted by mrcrab > 2022-05-26 09:13 | Report Abuse

High IDSS volume

Posted by Markv572421 > 2022-05-26 09:14 | Report Abuse

Waiting 1.18 .....

Posted by AlwaysLearn2Invest > 2022-05-26 10:21 | Report Abuse

Many people had already done the bottom catch at around 1.30 yesterday. This is an indication that people are seeing its value and great potential

Posted by AlwaysLearn2Invest > 2022-05-26 10:21 | Report Abuse

let's see the next milestone towards 1.70 and beyond

Posted by Markv572421 > 2022-05-26 10:57 | Report Abuse

No need to see wasting time

Posted by AhSook AhKou > 2022-05-26 11:15 | Report Abuse

I think is gd buy, up to 1.39 and great opportunity to play daily within the range 1.33 to 1.39 for next 6-8 wks .... all the best

Posted by Markv572421 > 2022-05-26 11:16 |

Post removed.Why?

Posted by papaya > 2022-05-26 11:30 | Report Abuse

Markv572421.....you must be punting this stock ....and loss alot yesterday......although you hate this stock still got heart to buy low.....kikikikikikikih......sabar boss

Posted by newbie8080 > 2022-05-26 11:32 | Report Abuse

Some key pointers:
1.Missed expectations – not due to operational/production issues but the unfortunate timing of offtakes in 3QFY22.

2.Revenue was flat while core net profit was down by 28% despite ours and market’s initial expectations of a multi-fold earnings growth QoQ. This is due to a misconception that production volume equals sales volume. For Hibiscus, sales are usually done in batches known as “offtakes”.

3.As production volumes does not equate to sales volumes, we opine that it would be more appropriate to analyse Hibiscus on an annual basis – rather than quarter-to quarter as offtake batches are lumpy and huge in nature, which may deviate or create an earnings vacuum in certain quarters.

4.On a QoQ comparison, 3QFY22 core net profit fell 37% QoQ to RM31mil due to the halving of North Sabah sales volume to 300K barrels as the company managed a single offtake vs. 2 in 2QFY22. Additionally, there was no sales offtake for Repsol asset’s Kinabalu production sharing contract (PSC).

5.We highlight that average daily net production decreased 21% QoQ to 4,695 barrels for North Sabah in 3QFY22 from unplanned production interruptions in January 2022 and an annual planned maintenance campaign in March this year.

6.Likewise, Anasuria also experienced an average daily net production decline of 20% QoQ to 1,983 barrels in 3QFY22 due to a continuing production riser malfunction, which is now expected to be rectified in 3Q2022.

Posted by surewinmoney > 2022-05-26 11:38 | Report Abuse

C20 expired on next Monday, mother kena press down kuat kuat

Posted by newbie8080 > 2022-05-26 11:43 | Report Abuse

Based on key pointer #3
3.As production volumes does not equate to sales volumes, we opine that it would be more appropriate to analyse Hibiscus on an annual basis – rather than quarter-to quarter as offtake batches are lumpy and huge in nature, which may deviate or create an earnings vacuum in certain quarters.

Summary: It will be difficult to determine annual earnings since crude oil prices can fluctuate upwards or downwards of more than 20%-30% within a few weeks. By the time it reaches the offtakes period towards year end, hopefully crude oil remain above USD100pbl.

Posted by Muyutin > 2022-05-26 11:48 | Report Abuse

Got buyer dun wan sell
Who know tomolo long recession

Price drop toUSD60

THEN BUNGA PUN FADING

Posted by birdparadise > 2022-05-26 11:51 |

Post removed.Why?

Posted by rr88 > 2022-05-26 11:52 | Report Abuse

Run. Pancit dy. Tp 1.00.
Without negative goodwill, profit is very low. Money flowing somewhere on cost n expenses. That was why you saw heavy selling yesterday. Up bcause goreng kaki scooped it up to play2 for a while. It is going down. First stop 1.14. Next stop 1.00.

Posted by Markv572421 > 2022-05-26 11:55 | Report Abuse

Good at least got poeple speak up

rr88

Run. Pancit dy. Tp 1.00.
Without negative goodwill, profit is very low. Money flowing somewhere on cost n expenses. That was why you saw heavy selling yesterday. Up bcause goreng kaki scooped it up to play2 for a while. It is going down. First stop 1.14. Next stop 1.00.

Posted by AhSook AhKou > 2022-05-26 11:58 | Report Abuse

Standby time to buy again when hit 1.35 & below and then target to sell at 1.39 & above. Lucky to do it this morning with 4 cts profit per share , wo wo

Posted by newbie8080 > 2022-05-26 12:11 | Report Abuse

@Muyutin

Yes, you're right as witnessed in 2007/2008 financial crisis where crude oil top USD140pbl and slump to USD40 pbl in 6 months.
But the fact is no one can tell this event until it happens.
Besides that, it happens only once in 10-12 years.
You can wait till it happens.

Posted by UPlanet > 2022-05-26 12:24 | Report Abuse

Now, only Mr. Putin know the temporary short term trends!!! US now are trying very damn hard to pull the price of gold(Russia reserve the most), oil & Gas down!!! Unfortunately, the Gas price is exceptional from US controlled where the shipping cost will kill their price if export to Europe!!! So, we can see the Gas price now is in historical high for ‘many times’ already, but the gold and petrol still far from historical high!!! So, let’s see how Putin going to break it??? Wait until winter come???

Posted by i3lurker > 2022-05-26 13:04 | Report Abuse

its a virtual company who refuses to pay you a "Proper" dividend money
but does it have money? to pay dividend in the first place since it refused to pay you a proper dividend?

Virtual Companies who do not exist have extremely low valuations

Posted by i3lurker > 2022-05-26 13:07 | Report Abuse

thats why share price is red
coz smart people do NOT want to own virtual companies that refuses to pay a proper dividend despite good earnings.

in the first place... ... if company refuses to pay dividends..... ... does it really have the cash to pay dividends?

are the earnings genuine?
the proof that earnings are genuine is always the dividend paying ability of the company.

Posted by i3lurker > 2022-05-26 13:15 | Report Abuse

for a 1 sen share

RM0.50 will be a fair price each Hibiscus share

Posted by birdparadise > 2022-05-26 13:31 |

Post removed.Why?

Posted by Markv572421 > 2022-05-26 14:07 | Report Abuse

So how still buying hibiscus ?

Posted by MunChunxX > 2022-05-26 14:27 | Report Abuse

（吉隆坡25日讯）高油价及高产量，带动大红花石油（HIBISCS,5199,主板能源组）截至2022年3月31日业绩走强，第三季净利按年狂飙8.6倍，录得3亿零754万令吉，前期为3202万9000令吉。

首9个月净赚3亿9755万1000令吉，比起前期的5407万8000令吉，猛增了6.35倍。

该公司第三季营业额报2亿9706万令吉，按年走高37.5%；首9个月攀升50.1%，报8亿2815万4000令吉。

派息1仙
大红花石油董事部宣布，派发每股1仙的中期股息，除权及享有日分别为6月22日及23日；付款日则在7月22日。

董事经理肯勒毕雷拉今日在文告指出，公司2022财政年第三季的营运盈利（EBITDA）为4亿340万令吉，而净利则为3亿零754万令吉。

虽面对3.2亿商誉减值
收购FIPC推高石油产量
“年初完成收购Fortuna国际石油企业（FIPC）高质油气资产，使得大红花石油面对3亿1730万令吉的商誉减值。”



https://www.sinchew.com.my/20220525/大红花石油/

Posted by UPlanet > 2022-05-26 14:28 | Report Abuse

Buying whatever always depend on our own needs and target! Just like MK durian, I’m buying lesser when price hiking at 70~100/kg especially early season, and increase buying more n more when price coming to lower 30~60… so can’t always buying one time at the lowest price!!! And selling is about same method too, can’t always sell at the highest price!!!

Posted by AlwaysLearn2Invest > 2022-05-26 14:34 | Report Abuse

there will be so many negative comments coming out these few days until the hibicus-c20 matures on Monday. I think you can guess why