Apple168.. Sorry u are really full of it. Hibiscus has a very small set up in the UK.. It will also benefit from the UKs drive for energy self sufficiency which will help them unlock marigolds assest. Would be great if you actually bought something to the table which was positive.. From what I can see Hibiscus is going to have a HUGE quarter and the only direction their share price is going is up!
Ini Apple, mesti x baca ER betul betul! Treat stock macam exam la! Be meticulous and you will be rewarded. Please take a look on their operating segment financial and you would know how much is their gross profit from UK. It is 66mil out of total, 261mil and only 15% bbl is accounted. still a small portion to lose from this windfall tax. They can't be stringent in the future due to demand shortage will be there very soon. Do come back in July later. :)
Besides, the average price sold is USD96/bbl. In coming month, the average is around USD 115 if it hits above $120 just do the simple math and you get the picture. Cheers! Tomorrow cuti!
Gas prices reached yet another record high national average of $4.85 per gallon on Sunday, according to the American Automobile Association, and have been climbing steadily for months.
The FTSE 100 and European stocks jumped at the open as oil prices continued their rise and an easing of COVID restrictions in China boosted Asian markets. BP and Shell were the biggest drivers of gains, rising 2% and 1.1% respectively as Brent crude oil jumped above $120 a barrel.
Estimation Earning for 4QFY22 and FY22 Estimated oil production for 4QFY22 Malaysia, barrels ----------------> 1,256,701 UK, barrels --------------------------> 161,000 Total, barrels (exclusding gas) --> 1,417,701 Group PBT, MYR Malaysia ----------------------> 330,261,022 UK (after windfall tax) --> 31,733,100 Total Group PBT, MYR --> 361,994,122 Estimation is based on crude oil only.
Profit to date ------------> 397,600,000 Estimated PBT for FY22 ------> 759,594,122 Less MY windfall tax, 33% ----> 508,928,061 Gas revenue excluded.
EPS for FY22 ---------> 25sen Current PE ratio -----> 6 Estimated share price -----> 1.50 Standard PE ratio for same industry ---> 10 Share price -----> 2.50; at PE ratio = 10
There is no selloff, thats for sure. All market sentiment favours hibiscs. Crude oil price remains at elevated level. Strong US Dollar due to high interest rate to fend of inflation and high demand in arms sales. Market is now undecided and waiting for hint to make major move.
When the next qr results coming, everyone will rush to buy in the expectation of the offtakes missed in Q3 will be reflected in revenue and net profit. Just sit and watch
Seems like someone's trying to manipulate the price appreciating with roadblock offloading alot at 1.31.. nazrzach..need to include gas (is 30% BOE of their total offtake). Also no windfall tax for Malaysia..they already pay 38%..
Guys, we must get ready to hold everything. The time has come to celebrate. What we being waiting has come. Apple168 comes to short means the stock will move in super time.
Increased reliance on renewable energy has been blamed for power outages in such states as California and Texas. Solar and wind power are intermittent, so periods of high demand are not always matched by output. In one extreme example, wind turbines froze up during an historic winter freeze last year in Texas, contributing to blackouts that caused 246 deaths and at least $195 billion in damage.
Corporate and Business Update Kuala Lumpur, 7 June 2022 – 6.45pm
Our discontinuance of the payment of SST under protest (in the case of RML) and our non-payment of SST (in the case of SEA Hibiscus) may lead to the state authorities taking action against HPB, its subsidiaries and / or its directors.
Yes, we need these excellent directors with "big balls" to make risky decision. Not the " Yes Man" directors. That's why I will hold tight tight hibiscus
Sabah has no rights to ask for SST from RML and HPB since Malaysian Government have given them royalty every year. Sarawak on the other hand can ask for SST only if any oil companies use their storage, distribution facilities. Labuan belongs to Sabah once under Mohd Salleh tenure. Once Mohd Salleh got to know Dr M wanted Labuan to be a part of FT, Mohd Salleh bought acres of land in Labuan esp in Asian Supply Base, Layang-Layang. Mohd Salleh made a fortune at that time. In many case, GLC often asked by IRD to pat arrear taxes which many GLC filed court cases to ask permission not to pay e.g. TNB. In many case, GLC won. In short, there is no risk that HPB will have to pay Sabah Government SST. FYI.
Be cautious ... Hibiscus said its discontinuance of the payment of SST under protest (in the case of RML) and non-payment of SST (in the case of SEA Hibiscus) may lead to the state authorities taking action.
"It is possible that such action may cause disruption to the group's operations.
Its very unlikely. Short sellers love bad news. They short without basis. Sabah Government wont take action on HPB because Kinabalu block is under PSC. They will drag Petronas and Malaysian Fed Government to court which Dr M and Shafie would like to. Both of them wants money for personal gain. Since Sabah is now under BN rule, we will see they will not pursue this in court.
North Sabah contribution estimated for Q4 is abt 1.2 mil bbls including missing offtakes from Q3. with 5% SST removed, could boost bottomline by RM12mil to RM15mil.
@Goodboy, You forgot to add this. Quote However, after due and careful consideration of the position on a good faith basis, the Board believes that its decision is reasonable, proper and in the best interest of the Company. Unquote HPB Board of Directors
The interesting thing about that statement is that they confirmed that they did offtake 350,326 barrels on 24th May from Kinabalu.. Which reinforces the numbers they presented in their Q3 offtake schedule which to me confirms that production is going to plan and Q4 figures will be exceptional.
@Goodboy, What HPB means by good faith is that knowing Sabah Government has no power to ask for SST, HPB has no intent to ask Sabah Government to return their money and plus interest. Case CLOSED. Court adjourned.
Citi And Barclays Raise Oil Price Forecasts Citi’s second-quarter 2022 Brent forecast is now seen at $113 per barrel. Barclays now sees Brent prices averaging $111 this year and next. ***********************
This means Citi & Barclays going to "long" Oil [Both of them give up "short" oil]
Watch out Hurricane session to hit MEXICO BAY in June & Jul.
The CEO of global commodities trader Trafigura said oil prices could soon hit $150 a barrel and go higher this year, with demand destruction likely by the end of the year.
New IPO: The largest mini-market player and a leading groceries retailer in Malaysia, 99 Speed Mart Retail Holdings Bhd aims to list on the Main Market!
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0:17
New IPO: An enterprise IT solutions provider that provides implementation services, maintenance, support and professional services, Vetece Holdings Bhd aims to list on the Ace Market!
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New IPO: A manufacturing and trading of biomass fuel products, particularly PKS and wood pellets company, Elridge Energy Holdings Bhd aims to list on the Ace Market!
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....
ks5S
4,601 posts
Posted by ks5S > 2022-06-05 18:34 | Report Abuse
next week bull