Well that's not right actually..they are buying back 10% of the shares which is the same as getting an 11% increment in share value/dividend. At the same time I'm sure it'll address the issue with stock price undervaluation and shortsellings. I also think this current quarter will be fantastic now that Anasurias riser is fixed and is back at full production and SE Asia is sorted and downtime will be low.. They're saying 2.6-2.7 Million BOE this quarter. If prices average US$90+ that's RM1.1 Billion for the quarter minimum and with PAT of at least 25% that's another RM275 Mill profit and all the share buy back, plus some, is completely paid for.. Very smart
When share buybacks are in motion and the valuation rises, it will deter the cycle of pump and dump that we are seeing with Hibiscus two weeks either side of quarterly earnings reporting.
KUALA LUMPUR: The FBM KLCI jumped 1.6% while volume across Bursa Malaysia exceeded 2.7 billion shares amid certainty on Malaysia's 15th general election (GE15) timing.
The Election Commission announced earlier that GE15's polling date will be on Nov 19, with early voting set for Nov 15 while the nomination date is on Nov 5.
At 5pm, the market barometer jumped 22.62 points, or 1.6% to 1,437.72, its intraday high.
In the broader market, gainers outnumbered laggards 493-to-365. Activities were encouraging with 2.7 billion shares worth RM2.6bil changed hands.
Dealers said the local bourse is moving ahead strongly as GE15’s date is now certain.
Among the gainers on Bursa Malaysia, Hextar Technologies jumped RM2 to RM9.10, Nestle rose RM1.30 to RM134, Heineken added 78 sen to RM23.68 and Carlsberg gained 64 sen to RM22.84.
Malaysian Pacific Industries tumbled RM1.08 to RM25.16, Dutch Lady shed 74 sen to RM30.56, British American Tobacco lost 28 sen to RM10 and Ayer declined 25 sen to RM5.95.
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....
MoneyMakers
7,738 posts
Posted by MoneyMakers > 2022-10-17 13:32 |
Post removed.Why?