Posted by nkboon94 > 2022-10-05 11:30 | Report Abuse

To VFTRADER, I am not sure. From my understanding, Share capital and Retained Earnings are 2 different things although they sound the same. RE should be used for paying dividends or reinvesting in the future in assets, or as a reserve to pay off debt.

Posted by Abidjan > 2022-10-05 11:34 | Report Abuse

The Company recorded accumulated losses amounting to RM690.6 M (largely from impairment losses and some from its non-producing Australia venture). The purpose of this capital reduction exercise is to offset these losses using the cash generated.

Like AirAsia, HPB will have a cleaner balance sheet.
Will there be growth in earnings in future quarters?
Both depends on the oil price.
Ask the USA, they can guide you on the oil price futures...

Posted by ks5S > 2022-10-05 12:13 | Report Abuse

missile launch soon

Posted by ks5S > 2022-10-05 12:35 | Report Abuse

this stock can reach at least 1.20 once they start share buy back.

Posted by ks5S > 2022-10-05 12:48 | Report Abuse

all analysts positive on this announcement. today should break 1.00

Posted by NatsukoMishima > 2022-10-05 13:37 | Report Abuse

Dead cat bounce trap ! Take profit run now !

Posted by NatsukoMishima > 2022-10-05 13:38 | Report Abuse

Great recession coming !

Posted by paktua73 > 2022-10-05 14:05 |

Post removed.Why?

Posted by searchingmoney > 2022-10-05 14:35 | Report Abuse

I have a good laugh... D bodoh sombong!

Posted by cK1973 > 2022-10-05 14:38 | Report Abuse

ok semua sudah clear....
cantik...
sudah boleh take off...

Posted by pang72 > 2022-10-05 14:39 | Report Abuse

Wah lau...tut tut...

Posted by paktua73 > 2022-10-05 15:07 |

Post removed.Why?

Posted by Cuncun7 > 2022-10-05 15:12 | Report Abuse

Betul betul mau cuncun if not how to make good profit,wah Europe very cool, happy happy man.

Posted by rr88 > 2022-10-05 16:20 | Report Abuse

Ho ho kena dy?
0.955 support broken. Run.

Posted by paktua73 > 2022-10-05 16:26 |

Post removed.Why?

Posted by beinvested > 2022-10-05 23:13 | Report Abuse

1. AR audited by PWC
2. Revenue , RM1.696Bil, doubled from last financial year
3. PAT at RM652Mil @30JUNE2022/ up from RM103Mil @2021
4. EPS 32.5 sen now
5. cash in Bank RM549Mil
6. But C Asset RM1.543BiL / C Liabilities RM1.698BiL

7. Retained earnings RM1.0BiL not reflected by sufficient bank balances.
8. Usually the movements in the Account for "Retained Earnings" are verifiable by vouching double entry of the undistributed Profits/PAT, that the amount being credited to the "Retained Earnings".

9. Trade creditors and trade debtors are about the same.
10. Proposed 1 sen for final Div and SBB 10%, so issued shares will be reduced from 2Bil units to 1.8BiL units.

Posted by beinvested > 2022-10-05 23:27 | Report Abuse

If the price of the shares is RM1 per share, the SBB scheme will need RM200MiL, to snap up 200MiL units of share from the open market. Credit bank account RM200Mil & debit Share Capital account. Scrap/shred the snapped up shares.

Posted by bullmarket1628 > 2022-10-06 07:02 |

Post removed.Why?

Posted by paktua73 > 2022-10-06 07:18 |

Post removed.Why?

Posted by bullmarket1628 > 2022-10-06 07:30 | Report Abuse

White House Disappointed With OPEC’s ‘Shortsighted’ Decision
By Charles Kennedy - Oct 05, 2022, 12:00 PM CDT

https://oilprice.com/Energy/Energy-General/White-House-Disappointed-With-OPECs-Shortsighted-Decision.amp.html

A White House statement following the OPEC+ decision to defy the Biden administration with an output cut for November vows to find new ways to temper OPEC’s control over energy prices. 

Earlier on Wednesday, members of OPEC+ said they would cut November production quotas by 2 million bpd, citing the “uncertainty that surrounds the global economic and oil market outlooks”. 

The decision immediately led to a more than 2% increase in Brent crude and WTI prices and goes directly against the Biden administration’s attempts to lobby Saudi Arabia for higher production to bring prices down. 

Shortly after the release of an OPEC+ press release detailing the output cuts, the White House said, “In light of today's action, the Biden Administration will also consult with Congress on additional tools and authorities to reduce OPEC's control over energy prices.”

Posted by bullmarket1628 > 2022-10-06 07:47 | Report Abuse

OPEC+ agrees deep oil production cuts, Biden calls it shortsighted
By Ahmad Ghaddar, Alex Lawler and Rowena Edwards
October 6, 2022 4:33 AM GMT+8Last Updated 17 min ago

https://www.reuters.com/business/energy/opec-heads-deep-supply-cuts-clash-with-us-2022-10-04/

VIENNA/LONDON, Oct 5 (Reuters) - OPEC+ agreed steep oil production cuts on Wednesday, curbing supply in an already tight market, causing one of its biggest clashes with the West as the U.S. administration called the surprise decision shortsighted.
OPEC's de-facto leader Saudi Arabia said the cut of 2 million barrels per day (bpd) of output - equal to 2% of global supply - was necessary to respond to rising interest rates in the West and a weaker global economy..

Posted by witan > 2022-10-06 08:16 | Report Abuse

https://oilprice.com/Energy/Crude-Oil/Saudi-Arabia-Russia-To-Cut-105-Million-Bpd-In-November.html

Posted by beinvested > 2022-10-06 09:14 | Report Abuse

SBB scheme should be approved as soon as possible because the price of the shares is appreciating further, owing to the positive market condition and the world price of the crude oil.

Posted by bullmarket1628 > 2022-10-06 09:45 |

Post removed.Why?

Posted by Cuncun7 > 2022-10-06 09:51 | Report Abuse

Wah really cuncun lah, Europe very cool lah need more oil lah, happy happy man.

Posted by beinvested > 2022-10-06 10:12 | Report Abuse

Just now, 1Mil units at 98 sen were taken up quickly.
For the SBB 10% of the issued shares, the Company need to do it 200 times, to achieve that 10% buy back. Imagine.

Posted by BobAxelrod > 2022-10-06 10:30 |

Post removed.Why?

Posted by beinvested > 2022-10-06 10:31 | Report Abuse

No wonder that the IBs, HL gave the TP RM1.50

Don't expect one of the staff, do the buy back like a retailer, should be done by the IB/broker, IBs can start to accumulate/hoarding, with or without the approval from the Company, then selling like a wholesale to the Company. We can be buying earlier than them

Posted by UPlanet > 2022-10-06 10:38 | Report Abuse

Walao, just thrown some at 0.97.. still moving up!!! Real strong!!!

Posted by mf > 2022-10-06 10:40 | Report Abuse

PM menghadap Agong petang ini jadi tumpuan
Oleh Mohd Feroz Abu Bakar - Oktober 6, 2022 @ 9:40am
bhnews@bh.com.my

Posted by zhangzuode > 2022-10-06 12:41 | Report Abuse

Why the world still need oil:
https://www.zerohedge.com/energy/ramping-renewables-cant-provide-enough-heat-energy-winter-0

Posted by bullmarket1628 > 2022-10-06 12:53 |

Post removed.Why?

Posted by beinvested > 2022-10-06 14:45 | Report Abuse

FY@30JUN2022 The revenue of RM1.696BiL, being doubled when comparing to the earlier FY, but the Cost of sales only increased by 50% - (RM304MiL to RM479MiL)

Posted by pang72 > 2022-10-06 15:18 | Report Abuse

Kena lagi.. Adui...

Posted by HuatlaiOnglai > 2022-10-06 16:17 | Report Abuse

Brent broke US$94/tong. more potential upside coming to break US$100/tong.

Posted by beinvested > 2022-10-06 16:28 | Report Abuse

Say prudently, RM1 a share, coming -

Posted by BobAxelrod > 2022-10-06 17:05 | Report Abuse

So sarcastic......995c done

Posted by bullmarket1628 > 2022-10-07 06:47 |

Post removed.Why?

Posted by beinvested > 2022-10-07 09:01 | Report Abuse

RM1 coming

Posted by bullmarket1628 > 2022-10-07 09:16 |

Post removed.Why?

Posted by beinvested > 2022-10-07 09:18 | Report Abuse

TP - AmInvest RM1.30
- HLG RM1.54
- Public Bk RM1.18

Still got space to move up.

The settlement of the entanglement with the Sabah tax...is a good decision, to depart the old chapter and move the company forward and to project a responsible image for the corporate world.

This of course can done when the company has the financial capacity from the earnings from the promising market in the foreseeable future like the current uptrend of demand for the oil in the world market.
-

Posted by NatsukoMishima > 2022-10-07 10:20 | Report Abuse

USA has many tools to press down the oil price soon , dont fight with them ! U will be in trouble !

Posted by BeeNeutral > 2022-10-07 10:57 | Report Abuse

A very clever move to have the share buyback strategy. When the IDSS throws then they can pick up cheaper tickets

Posted by paktua73 > 2022-10-07 11:00 |

Post removed.Why?

Posted by Nepo > 2022-10-07 11:51 | Report Abuse

pls break RM 1

Posted by ks5S > 2022-10-07 11:56 | Report Abuse

tp 1.50

Posted by ks5S > 2022-10-07 11:57 | Report Abuse

natsuko kukuchiao bin harakiri

Posted by ks5S > 2022-10-07 11:58 | Report Abuse

buy and keep until personas takeover

Posted by beinvested > 2022-10-07 12:19 | Report Abuse

Delayed until 04 OCT to publish the AR @30JUNE2022.

The coming 1st QR dd 30SEPT2022, due latest on 30NOV2022. No similar kind of delay will be very good.
This coming QR if recorded with continuous profit will spur further the value of the shares.

The price moved from 04OCT after publishing the attractive P/L.

The P/E now is low, 3.3 times only. EPS running with 4Qs, 30 sen, improved.
NTA RM1.07 and if the P/E is 4 only, the price can be RM1.20 easily.

Better if the EPS can be improved further in the coming QR.

Naturally, when the AR is prepared by PWC, who else can we ask further...

Posted by ks5S > 2022-10-07 12:31 | Report Abuse

(Bloomberg) -- Oil prices could easily surge back above $100 a barrel next year as already-tight supplies could be further challenged by an increase in Chinese consumption, according to Global X Management.

China may add a meaningful amount of demand for the commodity, helping boost prices to about $110, Rohan Reddy, director of research at Global X Management, said in a Bloomberg TV interview. OPEC’s reluctance in increasing production and a potentially more dovish Federal Reserve are also bullish drivers for oil, he said.