it is a waterfall downtrend. 1) MA50 cross below MA90 drop from RM1 to RM0.785 = done last wk. 2) next wk MA50 going to cross below MA200, there will be another sharp drop . 3) the final drop will be MA90 drop below MA200, estimate will happen by end this month/early next month. it is the fear of worldwide recession due to high inflation.
Putin, Saudi, China dah kiss kiss best friends ma.......Biden on bent knees fly to Saudi asking for more Oil, but fist bump and questioning Khosaggi murder.........hahahaha
Saudi pun import oil from Putin lagi lah. Sendiri punya oil kasi export. Ini macam ada dapat discounted price and selling own oil at higher market rate. Panlai lah Saudi do business lah. Mana mau increase oil production to lower the oil price lah. Businessman pun tau kira mah. Tak kan Saudi Prince tak tau lah. Correct?
Paktua... Russia also seize shell asset in Shakalin. wa ada kawan kerja sana. dia orang pergi sana tak mau balik Malaysia. cakap pimpinan sana semua Miss universe punya standard. jialat.
KUALA LUMPUR (July 19): Hibiscus Petroleum Bhd said it is committed to resolve the tax issues with the Sabah authorities in an amicable and collaborative manner, and will ensure minimal disruptions to its operations in the state.
The oil and gas service provider was responding to a statement by Sabah's finance minister on Tuesday (July 19) that state authorities are looking to cancel the work permits for Hibiscus' two oil units operating in that state if they do not settle the state sales tax (SST) and penalties owed within the stipulated deadline.
In a filing with Bursa Malaysia, Hibiscus also clarified that its representatives are in ongoing engagement with Sabah officials with the objective of clarifying the issue of the applicability of SST to the companies.
“It is and has always been our group’s policy to pay all taxes when legally due and payable," the group said. “However, the companies will take appropriate action to safeguard their legal rights and interests accordingly where they are constrained to do so.”
Hibiscus said its tax legal advisor has advised that the crude petroleum oils and natural gas it sold is not legally liable for SST.
The two subsidiaries, Repsol Oil & Gas Ltd and SEA Hibiscus Sdn Bhd, had refused to make payment after contesting that it sold its crude oil entitlement from the Kinabalu Oil Field at the Labuan Crude Oil Terminal facility “outside the sovereignty and jurisdiction of the state of Sabah” and hence should not be charged the SST.
Malay Mail Online reported on Tuesday that a notice of action has been issued to Hibiscus’ units on July 8 after a grace period of one week to settle the arrears.
“We issued a notice on July 8 to say that all working passes will be cancelled on Oct 1, 2022 if payment is not settled,” Sabah Finance Minister II Datuk Masidi Manjun was quoted as saying at the Sabah state legislative assembly.
Masidi said several engagements have taken place between the two parties to settle their disagreements, with the state demanding some RM97.31 million, comprising RM66 million in SST and RM31.31 million in penalty incurred for late payment.
“We sent the payment notice on June 22, with dues to be settled within 30 days of notice or the state will initiate civil action against them.
“On July 1, they had asked for a grace period of one week to negotiate terms with Petronas,” he was quoted as saying.
Shares in Hibiscus Petroleum closed five sen or 5.62% lower at 84 sen on Tuesday, giving the group a market capitalisation of RM1.69 billion.
paktua melalak for last time for tonight.. hibiscus fighters...
we always play with our own style.. we in..we set..we hunt.. until reach our goal..
hibiscus warriors.. now here is our battlefield.. greenland is our destiny.. we never fear any.. never scared or greedy..
warriors. we're red stock troopers be a man is ur soul.. dare to die spirit we follow.. we're real fighters.. and.. we belong to the tough battlefields too all warriors..
The Sabah government is asserting that tax ought to be paid where the extraction is carried out, not at the point where the crude oil is sold.
Section 24 of the Land Ordinance gives Sabah power and authority over its resources. According to the Ordinance, minerals in the land which include mineral oils and petroleum, are reserved for, and owned by the Sabah government, which is also empowered to control, deal and licence its exploration, exploitation and mining.
The Sabah government has collected RM2.458 billion of sales tax on petroleum products, since it was implemented on April 1, 2020 until June 30, 2022. As of June 30 2022, the state government has collected RM808 million or 73 per cent of the estimate for the year.
It will be a separate issue if Hibiscus were to argue that the Kinabalu oil field and the North Borneo Sabah Enhanced Oil Recovery production sharing contract lie outside of Sabah's territorial waters.
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The two subsidiaries, Repsol Oil & Gas Ltd and SEA Hibiscus Sdn Bhd, had refused to make payment after contesting that it sold its crude oil entitlement from the Kinabalu Oil Field at the Labuan Crude Oil Terminal facility “outside the sovereignty and jurisdiction of the state of Sabah” and hence should not be charged the SST.
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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....
maxprofit2020
1,161 posts
Posted by maxprofit2020 > 2022-07-19 18:19 | Report Abuse
it is a waterfall downtrend. 1) MA50 cross below MA90 drop from RM1 to RM0.785 = done last wk. 2) next wk MA50 going to cross below MA200, there will be another sharp drop . 3) the final drop will be MA90 drop below MA200, estimate will happen by end this month/early next month. it is the fear of worldwide recession due to high inflation.