Posted by Gaussian > 1 month ago | Report Abuse

Share price will go up after share cancellation lol

Posted by Six6thsense > 1 month ago | Report Abuse

Give more reward to loyal shareholder

Posted by jimmylim11 > 1 month ago | Report Abuse

This is now very interesting. I would have wished to receive bonus shares dividend, but I guess the management has other ideas. Share price 1.96 with the new share quantity, should be 2.05.

Secondly committed dividend of 8cts should now be 8.4cts

I wonder what will happen to the call warrants? Price adjustments too? Lets see tomorrow

And does anybody know if shares cancellation will affect NTA?

Posted by STFUrr88 > 1 month ago | Report Abuse

Does Berkshire Hathaway rings a bell? I personally prefers cancellation as it will only increase the NTA. I guess the call warrants won't be affected as it doesn't affect the current share price like ex dividend. As I always said, have confident in the management, they are working their wonders in all ways.

Posted by wattsy > 1 month ago | Report Abuse

Hibiscus just cancelled all their treasury shares so I guess tomorrow at open the price will be adjusted upwards around 5% so the market cap remains unchanged

Posted by jimmylim11 > 1 month ago | Report Abuse

Very excited for tomorrow's share price adjustment. 5% is more than the total dividend payout per annum.

The best part is management has already resumed SBB, 190,000 lots today.

I will also look at call warrant HIBISCUS-69 whereby the Call price is RM2.15. If it's not adjusted upwards, then it seems like a good buy, for those who has less capital but wish to ride on the turnaround in share price. The gap is narrowing and the expiry is end of May 2025, so a good 6 months time to close up 10+ cents. Seems very possible.

Posted by Gaussian > 1 month ago | Report Abuse

Pity the short sellers lol

Posted by greed123 > 1 month ago | Report Abuse

https://themalaysianreserve.com/2024/11/26/hibiscus-petroleum-shares-reeling-from-short-selling-pressure/#google_vignette

Posted by jimmylim11 > 1 month ago | Report Abuse

Disappointing day! But taking it as a learning. Despite almost cancelling 36 million shares, using up roughly above RM72 million, it did nothing to the share price. That's why I prefer receiving dividend bonus, the holdings in your hand will increase in value and you can see the tangible result.

In theory, the valuation has dropped around 5% today, but does the market realises this? So I am topping up 5,000 lots today.

Posted by STFUrr88 > 1 month ago | Report Abuse

As expected, the share price won't be affected. Bcoz this is just the beginning. Roman empire is not built in a day. Just follow Berkshire pathway. Top up if u have capability. U either do the trading way or investing way.

Posted by Gaussian > 1 month ago | Report Abuse

Short sellers going to cover BACK lol rocket 🚀🚀🚀

Posted by wattsy > 1 month ago | Report Abuse

Hibiscus continuing to aggressively buy back shares after the cancelation. Another million today. Shows you what they think of the current share price. With maintenance works done and Brunei in the fold they will be banking it at present. Guess the market didn't notice gas going up alot in price of late either which is 50% of their revenue. Will be great to see the short sellers getting burnt. i expect profit for the quarter to be at least 150 million PAT after their expenditure. That's alot of shares which can be bought 😉

Posted by STFUrr88 > 1 month ago | Report Abuse

Have faith. When the total amount of SBB breaches 10%, we shall see our share price north of RM 3

Posted by jimmylim11 > 1 month ago | Report Abuse

I cannot help but suspect the call warrants especially the most recent ones 67, 68, 69 by Maybank, Affin Hwang and CIMB to be the culprit and it only goes to show that they are the ones who has the motives to short sell. As what wattsy said, would love to see them burn.

First off, CIMB, HIBISCUS-69 with a strike price of RM2.15 by 30 May 2025. 6 months to go and we are at RM2.00. Good luck!

wattsy has a valid point. 50% is now coming from gas. Yet the analyst report only talks about Oil.

Not sure if SBB hits 10% the share price easily goes above RM3, with the recent 4.8% it only barely defended against the lows of RM1.88 to RM1.96 and today RM2.0......so just 12 cents

Posted by STFUrr88 > 1 month ago | Report Abuse

Share price is determined by supply and demand. Another 10% SBB will deter anyone from short selling. Coupling with the facts that profit will be high, in 6 months time, hopefully the number 3 will be a dream come true

Posted by wattsy > 1 month ago | Report Abuse

Note also that the NTA has also increased with the share cancelation and Brunei is also not considered. I expect NTA is approaching RM5 per share. Ripe for a takeover??!!

Posted by STFUrr88 > 1 month ago | Report Abuse

Looks like privatisation also on the board. This SBB signal is just so clear and strong that our share value will be uphold

Posted by wattsy > 1 month ago | Report Abuse

Another big finger today to the market. 1.275 million shares BB.. ;)

Posted by Gaussian > 1 month ago | Report Abuse

Kill the short sellers lol

Posted by jimmylim11 > 1 month ago | Report Abuse

0 lots short sellers yesterday and 1275 lots SBB. Let's keep the momentum going!

Posted by STFUrr88 > 1 month ago | Report Abuse

Wats the cumulative short selling till now Jimmy? Need to prepare for the shopping spree prior to their cover

Posted by jimmylim11 > 1 month ago | Report Abuse

15.4 million shares. Still do not see them covering.

Posted by STFUrr88 > 1 month ago | Report Abuse

Covering of this 15.4 million shares and perhaps another SBB of 40 million shares can push the share price above RM 3. Hopefully my dream will come true

Posted by Alextan916 > 1 month ago | Report Abuse

Hope the management can aso purchase the shares as to show they are confident with the company. This will help a lot more.

Posted by STFUrr88 > 1 month ago | Report Abuse

Good morning shorties, why haven't u short the stock for us?

Posted by Sangranghaeyo > 1 month ago | Report Abuse

They stop shorting becuz oil prices rise on US demand surge

Posted by jimmylim11 > 1 month ago | Report Abuse

So yesterday was kind of weird. There were 12 lots shorted but also covering of 12 lots. No SBB yesterday and the price closed flat at RM2.03

Posted by xyz99 > 1 month ago | Report Abuse

CGS just initiated coverage with RM2.81

Posted by STFUrr88 > 1 month ago | Report Abuse

Perhaps the shorties are not dare to hold long enough. Or the shorties change hands. Anyway the stock is obviously on the upside of a cycle. RM 3 is definitely coming. RM 4 maybe?

Posted by jimmylim11 > 1 month ago | Report Abuse

After cancelling RM78 million worths of shares, SBB continues with another RM6 million from that date.

Maybank want to talk about incurring debt? Company got worse off by buying Brunei gas deal? Company will be in huge debt to fund that deal? Here's how the company shows they've got cash and balls

Hopefully with new set of buyers from Icapital and CGS as well as existing funds topping up when they noticed this upward momentum, shorties will begin to cover

Posted by STFUrr88 > 1 month ago | Report Abuse

Yes Jimmy. Everything is on the right track. Hopefully we can reach the TP of 4. Which is the previous high when oil is at the highest.

Posted by jimmylim11 > 1 month ago | Report Abuse

Couldn't resist not to ride along the strong momentum. Topped up another 5k lots at RM2.09 today. Hopefully few months down the road, it will justify my decision.

Posted by STFUrr88 > 1 month ago | Report Abuse

Well done. I entered at 2.07. do update us the shorted volume later. Tq

Posted by jimmylim11 > 1 month ago | Report Abuse

https://www.youtube.com/watch?v=4DtsUPdw_Do

This is a good analysis by Aaron Pek

Posted by jimmylim11 > 1 month ago | Report Abuse

Today Shorties short 13 lots but SBB is 238 lots and I personally top up 5 lots hehehe. Tomorrow we will be able to see how much was covered

Posted by Six6thsense > 1 month ago | Report Abuse

Aiyo. I thought will press till 1.6. waste the 4 years time together and prepare more cash to get cheap chips

Posted by jimmylim11 > 1 month ago | Report Abuse

Wow! Shorts covering seems to be picking up.

Update from yesterday's data

Shorts = 13 lots

Covering = 91 lots
SBB = 238 lots
Me = 5 lots

Posted by jimmylim11 > 1 month ago | Report Abuse

It's more interesting to see what happens since the share cancellations

Total SBB = 4,073 mil shares
Total shorts covering = 120k shares

Total Shorts = 83k shares

Throughout the above period, the share price was moving RM1.96 to RM2.09 and now back to RM2.06/8.

Basically, the shorties are not bringing down the share price, they are overwhelmed by the SBBs and of very small volume after the Share Cancellations. We can see that the SBBs are about 25% of daily volume traded. So for 75% who are the sellers who are keep losing money/cutting loss?

Posted by STFUrr88 > 1 month ago | Report Abuse

I'm also curious who is dumping for me and the SBB to collect. Buying momentum is still not here yet and thus it's reali hard for us to see massive gap up.

Posted by Sangranghaeyo > 3 weeks ago | Report Abuse

I always wait for the price to be lower than RM2 and buy 😊

Posted by jimmylim11 > 3 weeks ago | Report Abuse

Quiet few days and price movement nothing exciting

Gathering some thoughts here

Negatives:

- Oil price seems to trend down, not helping
- 3 new call warrants issued HIBISCS-70, HIBISCS-71 and HIBISCS-72. HIBISCS-71 in particular has strike price of only RM1.85. This warrant is current "In the Money" but conversion rate is 4:1. With a long expiry date.
- Shorts covering not taking place yet
- Looking at the volume, doubt new players/funds taking a position in Hibiscus despite the superb valuation

Positives
-Since the shares cancellation, price has risen and sort of stabilized from RM1.96 to RM2.08
-Since Management is gungho on the production rates, expecting Q2 to be 100mil in profits, so EPS maybe around 0.13
-SBB continues with gusto. Roughly RM11 million spent
-Shorties missing in action

Posted by STFUrr88 > 3 weeks ago | Report Abuse

C71 is reali a daring bet. By the time it reaches maturity., I'm quite sure the share price will be north of 2.5. load it up tmrw.

Posted by jimmylim11 > 3 weeks ago | Report Abuse

Important update:

Short covering has started. Yesterday 887k lots was covered. Net Shorts now is 14,496k lots.

Posted by STFUrr88 > 3 weeks ago | Report Abuse

But today, as usual there's heavy dumping again in the morning. SBB has to be more aggressive to counter this pressing. Totally agree with you that there's no fund house or big investor circling this counter.

Posted by jimmylim11 > 3 weeks ago | Report Abuse

Heavy selling today despite no short sellers today. Even with RM2million SBBs today, the price still fell 4 cents.

Sometimes I wonder if Management should revise their dividend policy. They are effectively paying about 13% of net profit but have used up RM80-90 million for SBBs alone. If they announce say 20% dividend payout policy, this is definitely feasible, but I suppose, they prefer to buy out all the sellers approach

Posted by STFUrr88 > 3 weeks ago | Report Abuse

Short term pain for long term gain. There's just too much sellers who wouldn't want to hold on to the stock. We will be the one willing to take over these holdings. Rest assured a year from now we can reap the harvest provided 20 per cent of shares are wiped out from free market

Posted by learner9 > 3 weeks ago | Report Abuse

Today dropped again 🫠

Posted by STFUrr88 > 3 weeks ago | Report Abuse

Today's SBB isn't heavy enough to defend the share price. Jimmy do update us the short position as usual. Tq

Posted by jimmylim11 > 3 weeks ago | Report Abuse

There were no shorts on 12/12. Net shorts remain the same as 14,496k. Tomorrow we will be able to see if that figure changes to reflect any shorts covering.

With 700k SBB, but volume about 3mil, there are still a lot of sellers selling at a loss. At this price anything that was bought since 2022 is a loss, so the sellers must be selling at a loss.

I topped up another 5k lots at RM2.01. Just hope to get dividends on January 2025, and add on again.

Posted by STFUrr88 > 3 weeks ago | Report Abuse

No call warrant expiring this month. Hopefully the SBB can mitigate the short selling problem by January as another round of call warrant will expire then. We have to thank those who dump for us to collect.