VELESTO ENERGY BERHAD

KLSE (MYR): VELESTO (5243)

You're accessing 15 mins delay data. Turn on live stream now to enjoy real-time data!

Last Price

0.11

Today's Change

+0.005 (4.76%)

Day's Change

0.105 - 0.11

Trading Volume

4,238,000


25 people like this.

20,848 comment(s). Last comment by Izzyy 16 hours ago

EAGLE

256 posts

Posted by EAGLE > 1 month ago | Report Abuse

Haaaa Lai Lai lai....siapa lambat rugi

colin888

308 posts

Posted by colin888 > 1 month ago | Report Abuse

What is wrong with this stock! Even Sapura is now 7 cents! Serba is now higher ! Wtf

kyliew

436 posts

Posted by kyliew > 1 month ago | Report Abuse

Cash is king, switch to Sapura

colin888

308 posts

Posted by colin888 > 1 month ago | Report Abuse

Hopeless stock! I have invested 130k and it’s still bleeding.

Expertise

1,252 posts

Posted by Expertise > 1 month ago | Report Abuse

Cash is king..oil theme this cycle till election …hohoho

CHLEONG888

881 posts

Posted by CHLEONG888 > 1 month ago | Report Abuse

A bit disappointed, merely increased half a sen

Posted by Skywalker00 > 1 month ago | Report Abuse

Najib got say included Volesto he will help. Hooray!!!

Posted by NoobRookie > 1 month ago | Report Abuse

come on velesto!!!

DickyMe

12,006 posts

Posted by DickyMe > 1 month ago |

Post removed.Why?

Eric Lim

392 posts

Posted by Eric Lim > 1 month ago | Report Abuse

Two joint operating companies in Vietnam have secured a jack-up drilling rig for their planned offshore development wells this year in the Cuu Long basin.

The Hoang Long joint operating company is the operator of the Te Giac Trang oilfield in Block 16-1 while the Hoan Vu joint operating company is the operator of the Ca Ngu Vang oilfield in Block 9-2.


Vietnam: Eni back in the offshore drilling groove in Ken Bau area
Read more
At Te Giac Trang, the joint owners plan to drill two new production wells in the second half this year, and at Ca Ngu Vang the plan is to drill one new well in the same timeframe, said co-owner in both fields Pharos Energy.

A letter of award has been signed with Malaysia's Velesto Energy for the drilling rig Naga-3 for a firm two wells, with an option for a third well.

Posted by bullmarket1628 > 1 month ago | Report Abuse

Report: MoF Inc eyeing financial support for Sapura Energy 
Saturday, 21 May 2022 7:20 PM MYT
By John Bunyan

https://www.malaymail.com/amp/news/malaysia/2022/05/21/report-mof-inc-...

KUALA LUMPUR, May 21 — The Minister of Finance (Incorporated) MoF Inc may provide financial assistance to ailing oil-and-gas giant Sapura Energy Bhd, according to sources.

Sources familiar with developments at the wholly-owned Finance Ministry unit told The Edge that the intervention would be made under MoF (Inc) Act, which empowered the finance minister to enter into business transactions for social and strategic purposes.

"From what I know it is MoF Inc that will step up (lend a helping hand to Sapura Energy. What is discussed at present is some sort of assistance package...it could be a grant of some sort and it could be announced soon," one source was quoted as saying in the latest edition of The Edge.

It also said Finance Minister Tengku Datuk Seri Zafrul Aziz has been working on the proposal for several weeks......

Posted by bullmarket1628 > 1 month ago | Report Abuse

财经新闻
财政部机构出手救沙布拉能源?
2022年05月21日
https://www.enanyang.my/财经新闻/财政部机构出手救沙布拉能源

(吉隆坡21日讯)财政部机构将出手救助陷入财困的沙布拉能源(SAPNRG,5218,主板能源股)?
财经周刊《The Edge》引述消息人士透露,政府如今打算透过直接隶属于财政部的财政部机构(MoF Inc),援助这家深陷困境的油气服务供应商。

“据我所知,站出来的将是财政部机构。目前正在讨论的是某些援助方案……可能是某种形式的赠款,预料很快会宣布。”

报道也指出,财政部长东姑扎夫鲁早在数周前,就着手拯救沙布拉能源的计划,但政府透过哪家官联机构出手却一直是个疑问。
财政部机构是在1957年财政部机构法令下设立的官联机构,主要目的是投资在私人界缺乏兴趣的社会服务领域。

国家石油(Petronas)、国库控股(Khazanah),以及一马发展公司和负责拯救朝圣基金局的Urusharta Jamaah私人有限公司等,都隶属于财政部机构。
前首相拿督斯里纳吉建议由国家石油出手相救,但市场观察员认为,作为沙布拉能源的客户,国油收购其承包商并非好主意。
而沙布拉能源的最大股东国民投资机构(PNB),在重压下料也不敢贸然伸出援手。

2018年沙布拉能源发行附加股筹资40亿令吉时,国民投资机构豪掷接近27亿令吉,购入大量未被认购的附加股,让手中持股从原本的12.6%,大增至接近40%。
然而,这笔无法为单位基金持有人带来收益的投资,已经引发投资者的不满。
曾经是全球第二大油气服务供应商的沙布拉能源,1月杪的短期债务已经飙高至106.6亿令吉,其严峻的财务危机,已经引发政商界的高度关注。

SinGor

3,518 posts

Posted by SinGor > 1 month ago | Report Abuse

as usual Velesto announce Contract( vietnam ) before Qr results.....so announcement comes next week
and ends with Qr results. No idea Qr outcome but if SAP goes Limit Up, it will pull Velesto Up too

Harryww

67 posts

Posted by Harryww > 1 month ago | Report Abuse

Most related oil and gas counters goes up, but velesto is different, going south. Too many goyang kaki. No hope counter. Tomorrow limit down.

Macgyver11

1,738 posts

Posted by Macgyver11 > 1 month ago | Report Abuse

PNB owned companies all same...adoi!

Macgyver11

1,738 posts

Posted by Macgyver11 > 1 month ago | Report Abuse

Hibiscus make 300mil
Armada 186mil

Velesto...Nothing to say, speechless

BOD tido....

Macgyver11

1,738 posts

Posted by Macgyver11 > 1 month ago | Report Abuse

To contra back the qtr loss maybe 2morrow they will announcement new contract, as usual...hahaha!

Macgyver11

1,738 posts

Posted by Macgyver11 > 1 month ago | Report Abuse

KUALA LUMPUR (May 25): Velesto Energy Bhd posted a lower net loss of RM46.2 million in the first quarter ended March 31, 2022 (1QFY22), compared with a net loss of RM60.47 million a year earlier, on the back of higher revenue.

Quarterly revenue climbed 76.22% to RM77.41 million from RM43.93 million, mainly due to higher activities in the drilling segment, where the segment’s revenue jumped 82% year-on-year to RM74.19 million on higher average jack-up rig utilisations during the quarter.

“As a result of the above, the drilling services segment registered a lower loss before tax of RM36 million as compared to RM48.9 million loss before tax reported in the corresponding quarter,” the group explained in its filing with Bursa Malaysia.

On prospects, Velesto said recovery in the global oil and gas industry outlook augurs well for the company. It said although the outlook is expected to improve, nevertheless, it may take time to be reflected in the group’s financial performance.

“Currently, three of the group’s six available jack-up drilling rigs are working, while another three are undergoing upgrading works and being prepared to meet the requirement of our potential clients for contracts that we are tendering for.

“The group is actively bidding for new tenders for local and international contracts scheduled to be performed this year and next year,” the group said in a statement accompanying the financial results announcement.

Meanwhile, the prospect for the workover services segment is improving with a number of jobs secured. Velesto said it has received work orders for three of its four Hydraulic Workover Units for the scope of Workover and Plug and Abandonment activities, through provision of integrated well services.

“The positive threading industry outlook is also expected to benefit the oilfield services operation in China.

“[Overall,] the board remains cautiously optimistic on the financial performance of the group in 2022, barring any unforeseen circumstances,” it added.

Velesto shares were unchanged at 12 sen on Wednesday (May 25), giving the group a market capitalisation of RM985.87 million.

Lewis Lee

1,259 posts

Posted by Lewis Lee > 1 month ago | Report Abuse

This is a PKM punya company lah !!!!!!! :(

koyokui

1,579 posts

Posted by koyokui > 1 month ago | Report Abuse

Buy velesto will benefit from saprng bailout

sunsetbiz

420 posts

Posted by sunsetbiz > 1 month ago | Report Abuse

when ppl call buy better wait weeks for show drop..:)

EAGLE

256 posts

Posted by EAGLE > 1 month ago | Report Abuse

Still no mass selldown probably due to super hot brent crude price

EAGLE

256 posts

Posted by EAGLE > 1 month ago | Report Abuse

Wow superhot brent price 122

Posted by NoobRookie > 3 weeks ago | Report Abuse

whats wrong with this stock

Macgyver11

1,738 posts

Posted by Macgyver11 > 3 weeks ago | Report Abuse

Multiple wrong...

koyokui

1,579 posts

Posted by koyokui > 3 weeks ago | Report Abuse

Buy velesto oil n gas only hope

WEIMEY

14 posts

Posted by WEIMEY > 3 weeks ago | Report Abuse

Follow my buy call on velesto, target price to be RM 0.4

WEIMEY

14 posts

Posted by WEIMEY > 3 weeks ago | Report Abuse

Day rate of drilling rate is likely to increase to the level that we haven't seen in decade.

WEIMEY

14 posts

Posted by WEIMEY > 3 weeks ago | Report Abuse

The offshore drilling rig market is really tight which in return I can see it will further push up the dayrate to above $100,000 per day

WEIMEY

14 posts

Posted by WEIMEY > 3 weeks ago | Report Abuse

This is 42% increase of current dayrate

Posted by bullmarket1628 > 3 weeks ago | Report Abuse

Petronas ups annual capex to RM60 bil, makes first allocation for clean energy
SyafiqahSalim/theedgemarkets.com
June 09, 2022 16:20 pm +08

https://www.theedgemarkets.com/article/petronas-plans-rm60b-capex-2022...

KUALA LUMPUR (June 9): Petroliam Nasional Bhd (Petronas) is allocating about RM60 billion for capital expenditure (capex) in financial year ending Dec 31, 2022 (FY22) compared with RM30.5 billion a year earlier as the Malaysian national oil company prepares for the resumption of business activities, which were earlier disrupted by Covid-19-driven movement restrictions, and as the group sets aside money for clean energy or non-hydrocarbon-related ventures.
"This year, we expect to almost double that [capex] amount which is RM60 billion, because of catch-up and the return of [business] activities. This is also the time we have to make inroads in some material steps into the non-hydrocarbon side of things," Petronas chief financial officer Liza Mustapha said on Thursday (June 9) at the MIDF Conversations event, which was held virtually.
MIDF group managing director Datuk Charon Mokhzani was the moderator for the event.
Liza said that out of Petronas' planned RM60 billion capex allocation for FY22, about RM40 billion has been earmarked for the oil and gas business besides non-hydrocarbon–related operations while the balance of the capex allocation has been earmarked to finance Petronas Chemicals Group Bhd's (PetChem) wholly-owned subsidiary Petronas Chemicals International B.V. (PCIBV) proposed acquisition of the entire stake in Sweden-based specialty chemicals group Perstorp Holding AB for €1.54 billion (about RM7.02 billion) from Financiere Foret S.A.R.L.
Petronas owns a 64.35% stake in PetChem, according to PetChem's latest annual report.
Looking ahead, Liza said non-hydrocarbon-related income is expected to account for about 30% of Petronas' revenue.
"[About] 30% of our revenue should be coming from something which is not related to hydrocarbons.
"We have to factor in [business] growth, otherwise, we will not be able to manage the energy transition and we will miss our target of achieving [net] zero [carbon] emissions by 2050," she said.
According to her, about 10% of Petronas' RM60 billion capex allocation for FY22 will be earmarked for non-traditional businesses such as specialty chemicals and solar energy.
"Previously, I think there was never a plan on what rate it should be [for the clean energy segment] because there was no allocation from the top. So, it didn't really take off.
"So, we need to rethink our decision on the capital allocation [for the clean energy segment] and put it aside, because if we leave it at that and let them go with the flow, we are going to be a year behind the target again," she said.
Petronas' financials improved in 1QFY22. In a statement on May 31, 2022, Petronas said profit after tax rose to RM23.44 billion in 1QFY22 from RM9.22 billion a year earlier while revenue climbed to RM78.75 billion from RM52.55 billion.
"Despite favourable [first quarter] performance, the high oil and gas prices are expected to remain vulnerable with increased volatility due to geopolitical and macro-economic uncertainties.
"Petronas will continue to strengthen our operational excellence to maximise value creation whilst intensifying our growth and sustainability agenda in Malaysia and internationally,” the company said.

Edited By: Chong Jin Hun

Posted by wongcheehui83 > 2 weeks ago | Report Abuse

it take longer time for velesto to up

Posted by bullmarket1628 > 2 weeks ago | Report Abuse

南详商报。财经新闻
传Icon岸外拟购沙布拉能源资产
2022年06月11日

https://www.enanyang.my/财经新闻/传icon岸外拟购沙布拉能源资产

(吉隆坡11日讯)Icon岸外(ICON,5255,主板能源股)将成为新一个沙布拉能源(SAPNRG,5218,主板能源股)的拯救者?
根据财经周刊《The Edge》报道,Icon岸外有意接手,沙布拉能源在联营的沙布拉贝克休斯(Sapura Baker Hughes TPS)手持的51%股权。

Icon岸外和沙布拉能源并未否认此收购计划。

已经陷入PN17、急需重组的沙布拉能源,在回应《The Edge》时直言:“作为重组计划,我们在重审所有资产和业务,包括沙布拉贝克休斯。”
Icon岸外则回应指,该集团一直不断找寻强化自身能力,和为所提供服务增值的机会。

“现在的财务状况,让我们有着强劲地位去追求一些有价值的并购活动。”
沙布拉贝克休斯是沙布拉能源与美国油气巨头贝克休斯,以51:49方式联营的油气服务公司,并负责为国家石油的浮动液化天然气设施提供维修服务。
报道特别称,这家联营公司是沙布拉能源“较成功的一个单位”;截至2021年1月财年,这家公司拥有超过2亿令吉资产,以及约1.58亿令吉负债,并获得3785万令吉税后净利。

IronShirt

3,070 posts

Posted by IronShirt > 1 week ago | Report Abuse

WEIMEY
The offshore drilling rig market is really tight which in return I can see it will further push up the dayrate to above $100,000 per day
________________________________

Day rate in 2014 was $160,000 average( Oil at $100 ). Velesto was RM4.00.... Every Qr in 2014, Velesto net profit was around 50--80mil....The BIG ifs---Day rate Hit $150,000, Velesto Profit Hit 30mil in 3Qr22. What is
market pricing for Velesto in 4Q22?????? ( Given Velesto Net Profit at 17mil with 7 rigs@ 80% where DCR
$77,000 )

IronShirt

3,070 posts

Posted by IronShirt > 1 week ago | Report Abuse

SAP rigs should be getting $88,000 to $110,000 Day Rate with New Contracts in Thailand ( just announced )
SAP has 11 Rigs while Velesto has 6 Rigs

koyokui

1,579 posts

Posted by koyokui > 1 week ago | Report Abuse

Buy velesto strong counter

Posted by bullmarket1628 > 6 days ago | Report Abuse

Walaoeh, oil price spike up Like mad!
Brent closed at=> $113.12 +3.07 +2.79%

Like that next Monday Velesto going to limit up already liao lah !
Heng ah, Ong ah, Huat ah !

Posted by bullmarket1628 > 3 days ago | Report Abuse

Walaoeh, oil price continue it’s uptrend !
Brent closed at=> $115.09 +1.97 +1.74%

Like that today Velesto going to limit up already liao lah !
Heng ah, Ong ah, Huat ah !

Posted by bullmarket1628 > 3 days ago | Report Abuse

Super good news !
Parliament will dissolves by end Sept 2022 and GE15 is on Nov 2022

For those who still haven’t grab any cheap stocks, please faster grab any of it before too late !
If not, later don’t just sit there and see all of us here making tonnes of profits ya !

Heng ah, Ong ah, Huat ah !

Lewis Lee

1,259 posts

Posted by Lewis Lee > 3 days ago | Report Abuse

AGM today 2pm, any long suffering shareholders attending ??

Posted by bullmarket1628 > 2 days ago | Report Abuse

Walaoeh, oil price continue to spike up crazily !
Brent closed at=> $117.98 +2.89 +2.51%

Like that today Velesto going to limit up already liao lah !
Heng ah, Ong ah, Huat ah !

SinGor

3,518 posts

Posted by SinGor > 1 day ago | Report Abuse

https://oilprice.com/Latest-Energy-News/World-News/Oil-Likely-To-Hit-2...

Oil Hit $200, I dont know how much Velesto worth?

Shines

1,902 posts

Posted by Shines > 1 day ago | Report Abuse

All I know Oil from $60 to $120, Velesto from 17 sen to now 11sen

Lewis Lee

1,259 posts

Posted by Lewis Lee > 1 day ago | Report Abuse

Shines

All I know Oil from $60 to $120, Velesto from 17 sen to now 11sen

..... IF oil hit $200, "Very-slow" will drop from 11 sen to 1 sen !!

Lewis Lee

1,259 posts

Posted by Lewis Lee > 1 day ago | Report Abuse

No news / publicity from AGM aslo ?? Nobody bother to go there and give the board a good F for underperforming during super-bull oil run also ??
Like that jia lat liao lah !! meaning they are losing out in tendering for new jobs ??

Bon888

224 posts

Posted by Bon888 > 1 day ago | Report Abuse

https://www.infield.com/rigs/report-rig-day-rates

Premium jack up rig average daily rate already USD 168k per day. Why Velesto still below 100K? Directors tidur, go to international market don't just depending on sleeping PETRONAS!

Bon888

224 posts

Posted by Bon888 > 1 day ago | Report Abuse

A lot of oppertunity at the Middle East, EU countries reducing Russian OnG and moving to Middle East. Go out of Malaysia!

Izzyy

17 posts

Posted by Izzyy > 16 hours ago | Report Abuse

Any feedback from AGM?

Post a Comment
Market Buzz