Posted by offshore > 2018-02-28 00:39 | Report Abuse

95% utilization in Q4 but profit is only RM18.5m. This is not a small company. Billion units of share issued here. That profit also include investment income of RM6.5m which is not from operation. Next interesting thing to wait is how sensitive their profit is to the fluctuation in interest rate. This will be reported in the audited accounts.

So how? Where is the much hyped dividend? Maybe you will get some "dividend" by attending the AGM.

Seriously, if the drilling industry is really turning up, uwmog should take the opportunity to add more rigs when the price is still cheap just like how investor average down their investment cost. I am sure PNB can provide that financial support.

Posted by Christopher Toh > 2018-02-28 00:47 | Report Abuse

Not Bad... same with Dayang

Posted by asianmarket > 2018-02-28 01:22 | Report Abuse

First 30mins after market opens.. is PANIC SELL (panic buy to some... lolx). Then followed by a pause... waiting for a change of direction.

Posted by TeWG > 2018-02-28 05:50 | Report Abuse

【UMWOG】 king is about to return!
Many people explained so I will not say much, just say a few key points

1) turnover of 190 million, the highest since 2016, the 97% turnover from the drilling rig, the utilization rate of 90% or more

2) The actual net profit after deducting impairment is about 27mil. Although this score is not half of the peak in 2014, it is also worth encouraging!

3) At present, there are about 450 million short-term debt left, long-term debt is about 1.4 billion, about 1.6 billion less than the 3.4 billion in the previous quarter, mainly due to the repayment of the additional shares (the debt is denominated in U.S. dollars) because The strong dollar is a good thing for her, and vice versa is not good, the company holding 600 million in cash

The company pulled out the pulled shit out, the utilization rate is expected to reach 90% this year, the fiscal year 2018 to achieve profitable, all-round earning a small 100 million should not be a problem!

Do not wait until the company profit to buy, because the stock price has been high, to take advantage of now!


Just Sharing from other blogger

Posted by anson938 > 2018-02-28 06:37 | Report Abuse

Buy call......

Posted by NateM > 2018-02-28 07:08 | Report Abuse

Let's see later..

Posted by Pmaster > 2018-02-28 07:23 | Report Abuse

Just wait to c how the trader will run the show

Posted by persie > 2018-02-28 07:43 | Report Abuse

For the current very large amount of loss more than RM1 billion and take into consideration with about RM450 million short-term debt and long-term debt is about RM1.4 billion, action must be taken for now is RUN AWAY from this stock or you will be blooded investor.

Posted by bovunbursa > 2018-02-28 07:44 | Report Abuse

Lot investors above not even understand how to read Finance report to but to try to pretend to give hasty comments. Lol

Posted by Pmaster > 2018-02-28 08:08 | Report Abuse

Bursa , after u read the finance report , u think the price will up or down today ?

Posted by Pmaster > 2018-02-28 08:11 | Report Abuse

Today newspaper will show big word of umwog huge lose 1.1b ! What the share alaysis will say , down grade the tp from 0.30 to 0.15 , recomend to sell.

Posted by anson938 > 2018-02-28 08:12 | Report Abuse

Buy on rumours,sell on fact! Buy call....

Posted by anson938 > 2018-02-28 08:28 | Report Abuse

Secondly,Brent oil price might going up to 80-100 US per barrel any time by these year! So please analysis it for short term & long term on these counter!

Posted by cpng > 2018-02-28 08:32 | Report Abuse

UMWOG 一个季度可以亏$10亿，破记录！
买油气股的，现在才知道大便是臭的，而且是连续把大便吃完，才能够知道味道！

Posted by NateM > 2018-02-28 08:40 | Report Abuse

provision and real loss have big difference...bro

Posted by JJchan > 2018-02-28 08:51 | Report Abuse

impairment loss did come as promised. Right now, Umwog cap is 2.7B but PNB has pump in 2.1B
So is PNB going to let umwog sink down further......not good for their portfolio.

Posted by joetay > 2018-02-28 08:53 | Report Abuse

@anson938, u never heard of something called shale oil and renewable energy?????

obviously u dont do any basis analysis at all.

Posted by JJchan > 2018-02-28 08:58 | Report Abuse

shale Oil is at the back end of the biz. which means OPec takes the money first then only comes
shale. Once Opec sell down to 50, shale kaput. Yesterday, Trump hit China with aluminium foil tariff 106%, next day China will hit Shale oil import at 106%-----all the super oil tanker will be parking at North Port, Malaysia.

Posted by joetay > 2018-02-28 08:59 | Report Abuse

@jjchan, u know shale oil economics first????

ur info is out of date alrdy.

lol........

Posted by anson938 > 2018-02-28 09:01 | Report Abuse

Good!

Posted by anson938 > 2018-02-28 09:04 | Report Abuse

Buy..Buy....Buy....

Posted by JJchan > 2018-02-28 09:08 | Report Abuse

I update myself every morning 4:00AM from Bloomberg....bcoz i buy Diesel every month from
Singapore

Posted by Pmaster > 2018-02-28 09:08 | Report Abuse

Just drop 2cents consider very good. Trader no plan to press more.

Posted by NateM > 2018-02-28 09:12 | Report Abuse

you shout so loud 30% to 40% drop

Posted by flysmart > 2018-02-28 09:12 | Report Abuse

what happen? i queue to buy 20sen.... how come no match? die lo

Posted by flysmart > 2018-02-28 09:13 | Report Abuse

please down more..... i want sapu

Posted by keropea > 2018-02-28 09:14 | Report Abuse

strong support with hidden agenda

Posted by anson938 > 2018-02-28 09:14 | Report Abuse

No need to panic! Will going unchanged and climbing up later after some nervous investor out...hahaha...

Posted by NateM > 2018-02-28 09:15 | Report Abuse

know one...umno punya counter...you expect it drop below 0.2?

Posted by Pmaster > 2018-02-28 09:16 | Report Abuse

Natem , unexpected the trader dun want the price drop deeply not like what they did on sapnrg just lose 250m drop like shit.

Posted by joetay > 2018-02-28 09:16 | Report Abuse

@jjchan, u buy diesel only.

no wonder u dont know ur production and refining economics.

Posted by NateM > 2018-02-28 09:18 | Report Abuse

no choice election coming soon...must support..

Posted by NateM > 2018-02-28 09:21 | Report Abuse

sapura counter is too tricky..

Posted by flysmart > 2018-02-28 09:29 | Report Abuse

demn... strong support at 31sen. why nobody selling..... only shout sell but no action? aiks....

Posted by JJchan > 2018-02-28 09:33 | Report Abuse

My remisier said alot surprise order comes in to support. Don't be surprised, price may touch 0.330
to show who has the power to support. I saw this during MAS second Crashed. I prepare huge margin for 30% down within first half hour------didn't even fall below 5% from previous price

Posted by Pyh96 > 2018-02-28 09:33 | Report Abuse

Pmaster is a GENIUS hahahahahaa

Posted by NateM > 2018-02-28 09:34 | Report Abuse

sad case only sapu some at 0.31 and i am waiting at 0.305..

Posted by Pmaster > 2018-02-28 09:34 | Report Abuse

Natem , this counter n sapnrg r same trader. This counter lose 1.1b price just drop 6% , sapnrg just lose 250m , price drop 50%.

Posted by Pmaster > 2018-02-28 09:35 | Report Abuse

I will invest this counter more.

Posted by anson938 > 2018-02-28 09:36 | Report Abuse

They panic to buy...

Posted by Jeffreyteck > 2018-02-28 09:36 | Report Abuse

Every one dollar revenue incurred 3 dollars loss? Rev 586m, loss 1133m. NTA reduced to 0.3895 from 1.0444...

Posted by offshore > 2018-02-28 09:37 | Report Abuse

JJchan, just ask yourself why the oil price dropped and whether the reason causing that drop is still around or not. If yes, what makes you think the price will go up again. Simple as that.

Posted by NateM > 2018-02-28 09:37 | Report Abuse

sapura last time i got trapped too. after that no more playing at that counter...

Posted by Chang Wt > 2018-02-28 09:45 | Report Abuse

UMW Oil & Gas - 4Q17 Outperformed
Author: HLInvest | Publish date: Wed, 28 Feb 2018, 09:29 AM

Results
Above expectations: 4Q17 core profit came in at RM25.1m, bringing FY17 core loss to RM129.3m, lower than HLIB’s and consensus losses of RM158.1m and RM167.8m respectively. We have excluded RM2.6m net gain on derivatives, RM982.1m impairment on assets, RM12.2m net FOREX loss and RM16.3m non-recurring expenses.

Deviations
Higher than expected rig utilisation.

Dividend
None

Highlights
YoY: Core profit of RM25.1m was posted against core loss of RM127.7m due to 7 working rigs in 4Q17 vs 2 working rig in 4Q16.
QoQ: Core profit surged due to higher average asset utilisation rate of 95% (vs. 90% in 3Q17).

FY17: Core losses narrowed significantly to RM129.3m against RM428.1m in FY16 due to significantly higher rig utilisation (FY17: 70% vs. FY16: 21%) with the commencement of new rig contracts during the year.

According to Petronas Activity Outlook 2018-2020 report, about 7-10 jack-up rigs are required by Petronas Group of Companies and other Petroleum Arrangement Contractors (PACs). This is positive for UMWOG as being one of the only two local players in the industry, the company stands a fairly good chance to secure sufficient amount of contracts to replenish its order book.

Risks
Global recession hitting O&G price;
High asset cash cost;
Petronas’ further CAPEX and OPEX cut.

Forecasts
Our FY18 loss projections are reduced to RM55m we changed our FY19 forecast to core net profit of RM16m from core loss to reflect higher expected rig utilisation rates.
Rating
BUY ↑ , TP: RM0.44 ↑

Following latest outstanding quarterly result, we opined that earnings outlook of the company improved significantly and UMWOG is a major beneficiary of steady jack-up rig demand by Petronas Group given its role as the largest domestic jack- up rig owner. Moreover, recent share price correction has made the valuation of the stock more attractive
.
Valuation
Upgrade to BUY with higher TP of RM0.44 (from RM0.40) based on FY18 PBV multiple of 0.8x post earnings forecast adjustment.

Source: Hong Leong Investment Bank Research - 28 Feb 2018

Posted by anson938 > 2018-02-28 09:46 | Report Abuse

The volume near to 42K, time to speed up!

Posted by offshore > 2018-02-28 09:52 | Report Abuse

Another odd finding is impairment for FY17 is higher at RM982k compared to FY16 of RM780k. Come on, FY17 was a better year compared to FY16. We all expected an impairment but a higher impairment? Even Bumi Armada has a lower impairment. Seriously, there is a gross misrepresentation of financial statement here by taking advantage of judgmental accounting treatment. I am sure a lot of retailers got conned into this counter by comparing the share price and the NAV last year, thought it was undervalued.

Posted by Steven8882 > 2018-02-28 09:56 | Report Abuse

Donation?

Posted by Jonathan Keung > 2018-02-28 10:02 | Report Abuse

the impairment ? how the accountants fixed it

Posted by flysmart > 2018-02-28 10:10 | Report Abuse

so my queue at 25 sen can delete? wtf......

Posted by NateM > 2018-02-28 10:15 | Report Abuse

my 0.305..dont know can get it or not....your 0.25.....hmmmm