Posted by KEYBOARD > 2018-02-28 10:26 | Report Abuse

why didn't drop

Posted by KEYBOARD > 2018-02-28 10:26 | Report Abuse

I THINK can get 30

Posted by KEYBOARD > 2018-02-28 10:27 | Report Abuse

actually report not very bad

Posted by KEYBOARD > 2018-02-28 10:27 | Report Abuse

BUT ALOT player didn't read the report

Posted by rijack88 > 2018-02-28 10:41 | Report Abuse

i am surprise those mark themselves as shark and said raise 3 sen can earn few million one not even know how to read QR report.. Like this also can survive. Haha... is them so lucky or just talk cock sing song all the while.. Just wondering.

Posted by offshore > 2018-02-28 10:54 | Report Abuse

Do you know why there is a need for impairment? It is because the FUTURE economic benefit that is expected to flow from the assets has been reduced. Have you seen how the calculation looks like? There is a projected discounted cash flow prepared based on certain assumptions and should be checked by the auditor. It is through these assumptions where judgment is exercised (or abused). If things will improve, there should be reversal of impairment.

Posted by offshore > 2018-02-28 11:17 | Report Abuse

I am sure the employees in umwog can predict the future of the company better than anyone of us in coming up with the DCF calculation. They have a business development team that talks to oil companies regularly on new drilling projects. And I am sure they want to show the best possible financial position for good bonus. And the best they can come up with is higher impairment although FY17 has improved. Someone should ask during the AGM the assumptions they use in the DCF calculation for supporting the impairment amount.

Posted by edison5351 > 2018-02-28 13:02 | Report Abuse

haha this result ady hit the worst of worst. not gonna drop much becoz is ady lowest price ady..

Posted by HengHuatOng > 2018-02-28 13:18 | Report Abuse

Maybe they want to do afresh with 2018 and putting in more negative impact into 2017. So 2018 they must win! This is my read.

Posted by joetay > 2018-02-28 13:20 | Report Abuse

but the financial results is really shit.

i didnt even want to read into detail.

Posted by Pmaster > 2018-02-28 13:49 | Report Abuse

Today not drop much is a good sign.

Posted by offshore > 2018-02-28 14:05 | Report Abuse

RM25m is not a lot of profit when the interest starts to move or any of the rig starts to idle. There will be idling period when transiting from old to new contract. There will also be idling period when a rig goes for dry dock.

And please don't worry so much about this company's cash flow. The banks are a lot more worried than anyone of us here and have measures in place to ensure the company can repay their loan.

Posted by NateM > 2018-02-28 14:52 | Report Abuse

let's see what will happen after washing..

Posted by anson938 > 2018-02-28 15:10 | Report Abuse

ON THE WAY TO UNCHANGED NOW....0.315-0.32

Posted by anson938 > 2018-02-28 15:12 | Report Abuse

http://klse.i3investor.com/servlets/ptres/44012.jsp
New Target price 0.44 instead of 0.41 which analysis by HLIB....

Posted by anson938 > 2018-02-28 15:14 | Report Abuse

Price Call: buy....buy....buy....

Posted by edison5351 > 2018-02-28 15:19 | Report Abuse

buy !!!!!!!!!!!!!!!!!!! haaha

Posted by edison5351 > 2018-02-28 15:20 | Report Abuse

UMWOG is very funny, good news good result makes it sell call / instead bad result bad news makes it by call

Posted by anson938 > 2018-02-28 15:25 | Report Abuse

Buy on rumours,sell on fact VS Sell on rumours,buy on fact!hahaha!

Posted by anson938 > 2018-02-28 15:33 | Report Abuse

http://klse.i3investor.com/blogs/kianweiaritcles/148939.jsp

[转贴] 【UMWOG】之王者即将归来！- Invesider 投资内行人
Author: Tan KW | Publish date: Wed, 28 Feb 2018, 01:47 PM


很多人解释了所以我不多说，只说几个重点

1)营业额1.9亿，自2016年以来最高，其97%营业额都来自钻油台，使用率90%以上

2)扣除impairment实际净利还有27mil左右，这个成绩虽然还没有之前2014年高峰的一半，但也值得鼓励！

3)目前短期债务剩4.5亿左右，长期债务为14亿左右，相比上个季度的34亿少了16亿左右，主要是因为附加股的所得拿来还债了(债务和资产以美元计算)，因此美元强对她是好事，反之则不好，公司手握6亿现金

公司把该拉的屎都拉完出来了，预计今年使用率能达到90%以上，2018年财政年实现盈利，全能赚个小数目1亿应该不是问题！

不要等到公司实现盈利才来买，因为到时股价已经很高了，要收趁现在！

Posted by NateM > 2018-02-28 15:41 | Report Abuse

soon will know...D...sapu a lot 0.31

Posted by stockistlearner > 2018-02-28 15:56 | Report Abuse

this result should be used to washed out weak holders. But so far it is being supported very well.

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

Despite of bad result, very strong support at 0.31 and now already 0.32
I thought to sapu more below 0.30, but seem the ship moving up up up very soon

Posted by Fegustyle > 2018-02-28 16:27 | Report Abuse

@NateM soon will up hill?

Posted by freddiehero > 2018-02-28 17:25 | Report Abuse

?

Posted by freddiehero > 2018-02-28 17:26 | Report Abuse

losing too much money la..

Posted by JoshuaMS7 > 2018-02-28 17:31 | Report Abuse

yes the bottom 0.305!! who catch cangrat!!

Posted by TeWG > 2018-02-28 17:45 | Report Abuse

US drop 300point, QR out drop..... sell sell sell for panic sell.... other people buy buy buy.... this was happen today.... closing 0.32...just 1cent drop... steady laa

Posted by JoshuaMS7 > 2018-02-28 17:53 | Report Abuse

yes. will flying tomoro!!

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

?

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

0.32 -50% = ¿

Posted by Gamuda22 > 2018-02-28 19:53 | Report Abuse

i am neutral in this counter, will wait n see ...

Posted by offshore > 2018-02-28 22:20 | Report Abuse

Agree, just wait and see. If you really want to try your luck, better don't commit more than 10% of your investable fund in this counter. But then, if you really think this counter can reach 2.80 or 4.40 again, no harm wait first and sacrifice a little bit of profit for more certainty.

Posted by optimus9199 > 2018-02-28 22:22 | Report Abuse

The down side for UMWOG is limited and upside is sky the limit.

Posted by Christopher Toh > 2018-02-28 22:36 | Report Abuse

buy...

Posted by bozo7 > 2018-03-01 00:24 | Report Abuse

sure will move upp...just wait n see..buy buy buy..

Posted by Money122 > 2018-03-01 00:37 | Report Abuse

Last minute 0.32 got many buyer..

Posted by Jeffreyteck > 2018-03-01 09:22 | Report Abuse

Believe it will take a while to stabilise.

Posted by Jonathan Keung > 2018-03-01 09:52 | Report Abuse

dow jones sea of red - not a good day with ringgit trending lower

Posted by ampabella > 2018-03-01 11:21 | Report Abuse

jialat this stock is going to sleep for a very very long time...waiting for the Price to come and kiss her

Posted by kuaTAKtahu > 2018-03-01 14:46 | Report Abuse

Good buy over long term at below 30sen?

Posted by PanjiAlam55 > 2018-03-01 15:03 | Report Abuse

this stock will goreng till your money gone, the more you top buy, more bank untung end of the day bank brokerage money can buy you a superbike,,,hahaha

Posted by wudmec > 2018-03-01 15:10 | Report Abuse

TP 0.44 still big upside

Posted by anson938 > 2018-03-01 15:51 | Report Abuse

The election will be held soonest...not need to wait long time...

Posted by alexsaw79 > 2018-03-01 15:52 | Report Abuse

its time to buy

Posted by PanjiAlam55 > 2018-03-01 15:55 | Report Abuse

buy dun wait go and buy, u will make bank richer by taking your brokerage more cut loss

Posted by wudmec > 2018-03-01 16:39 | Report Abuse

We attended UMWOG’s analyst briefing and walked away feeling positive. Key highlights as below:
The company incurred RM982m asset impairment loss in 4Q17 due to change in daily charter rate (DCR) assumption and WACC. The reasons for change in assumptions are due to slower than expected recovery in DCR and change in capital structure of the company post rights issue.
YTD rig utilisation rates have improved from 21% in FY16 to 70% in FY17 on the back of stabilization of crude oil prices due to OPEC production cut. However we expect that rig utilisation rates will fall to c.60% in 1Q18 as Naga 2 is warm stacked and Naga 4 is undergoing Special Periodical Survey and will only start its contract from 2Q18 onwards. Nevertheless, we understand that management is targeting rig utilisation rates in FY18 to at least match the level in FY17.
More than 50% of the global rig fleet are aged more than 30 years, indicating that significant number of rigs could be scrapped in the longer run and provide significant boast to the DCR.
For 2018, we understand that at least 12 jack-up rig contracts are available for tender in Malaysia. 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.
At this juncture, the group is participating in 33 rig contract bids (of which 21 is in Malaysia) worth a total of US$812m, indicating potential winning of more rig contracts by the group.

Posted by offshore > 2018-03-01 17:28 | Report Abuse

We heard all these before. Statements like "profitable if utilization is x%" or "we are going to Middle East". Don't you think they are frying a pile of cold rice here.

DCR was actually higher, if not the same, between FY17 and FY16. So how can the impairment is higher? As Warren Buffett said, "Honesty is a very expensive gift, Don't expect it from cheap people."

Posted by Islander > 2018-03-01 17:30 | Report Abuse

The management cares only for themselves, not for shareholders. After getting the right issue money, the first thing they do is to have a salary increase, everyone 6% or more. Then almost all senior staff got promotion, Mgr to Senior Mgr; Senior Mgr to GM; GM to Senior GM; Senior GM to Director level, which comes with a much bigger pay jump. I got this info from an inside staff.

Posted by PanjiAlam55 > 2018-03-01 17:54 | Report Abuse

how come they will get increment UMWOG profit lost maa, if just from share they also have un paid salary in coming month bcoz people's dun buy their share anymore..