Posted by offshore > 2018-03-01 19:05 | Report Abuse

Increment was already given way back in June 17 before the completion of the RI. Promotion was given recently in December 17 and car benefit is still maintained. Senior mgmt. gets a Toyota, petrol card, touch n go and basement parking. Let's see if they get bonus or not in April since there is "core profit".

Posted by joetay > 2018-03-01 19:40 | Report Abuse

u shld feel sorry for those who bot at ipo.

really is die standing within 2 yrs.

Posted by Mohd Fahmi Bin Jaes > 2018-03-01 19:40 | Report Abuse

sell

Posted by offshore > 2018-03-01 20:42 | Report Abuse

I felt even more sorry for those who bought at 4.40.

Posted by mmmc15 > 2018-03-01 21:53 | Report Abuse

Do u think this will benefit from aramco investment? Any opinion?

Posted by offshore > 2018-03-02 00:04 | Report Abuse

You mean aramco investment in pengerang?

Posted by ampabella > 2018-03-02 09:02 | Report Abuse

i feel soli for myself for keeping this stock too long......bungkus oreli

Posted by offshore > 2018-03-02 10:43 | Report Abuse

Very hard to estimate. IPO price was 2.80 but PNB should have gotten a lot of Umwog shares by way of dividend during the demerger. Coupled with subscription of right share and exercise of warrants, their cost is much lower than many retail investors out there that went in at IPO price. Definitely lower than 90 sen.

Posted by TeWG > 2018-03-02 12:40 | Report Abuse

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More rig-contract wins anticipated for UMW Oil & Gas Corp
TheEdge Fri, Mar 02, 2018 - 1 hour ago


UMW Oil & Gas Corp Bhd
(March 1, 31 sen)
Maintain buy with a target price of 44 sen: UMW Oil & Gas Corp Bhd (UMW-OG) incurred RM982 million asset impairment loss in fourth quarter of financial year 2017 (4QFY17) due to change in daily charter rate (DCR) assumption and weighted average cost of capital. The reasons for change in assumptions were due to slower-than-expected recovery in DCR and change in capital structure of the company post rights issue.

Year-to-date rig utilisation rate improved from 21% in FY16 to 70% in FY17 on the back of stabilisation of crude oil prices due to Opec production cut. However, we expect rig utilisation rate to fall to about 60% in 1QFY18 as Naga 2 is warm stacked and Naga 4 is undergoing special periodical survey and will only start its contract from 2QFY18 onwards. Nevertheless, we understand that management is targeting rig utilisation rate in FY18 to at least match the level in FY17.

More than 50% of the global rigs are aged more than 30 years, indicating that a significant number of rigs could be scrapped in the longer run and provide significant boast to the DCR. For FY18, we understand that at least 12 jack-up rig contracts are available for tender in Malaysia. This is positive for UMW-OG being one of the only two local players in the industry, the company stands a fairly good chance to secure a sufficient amount of contracts to replenish its order book. At this juncture, the group is participating in 33 rig contract bids (of which 21 are in Malaysia) worth a total of US$812 million (RM3.19 billion), indicating potential more rig-contract wins by the group.

Following latest outstanding quarterly results, we opine that earnings outlook of the company has improved significantly and UMW-OG 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 valuation of the stock more attractive. We maintain our “buy” call with TP maintained at 44 sen (pegged at unchanged FY18 book value per share of 0.8 times). — Hong Leong Investment Bank Research, March 1

Posted by anson938 > 2018-03-02 14:56 | Report Abuse

http://klse.i3investor.com/servlets/ptres/44085.jsp-Briefing......

Posted by offshore > 2018-03-02 14:56 | Report Abuse

And conversion of RCPS-i also at 30 sen. They can exit anytime without much losses. Those who are stuck at IPO price and didn't subscribe the right issue will be stuck with this share for a long time.

Posted by Hustle > 2018-03-02 15:26 | Report Abuse

Don't be sad oil price drop is good everyone can drive muscle car without hesitation

Posted by Hustle > 2018-03-02 15:26 | Report Abuse

Hope that Ron97 can drop to RM1.50/liter

Posted by Hustle > 2018-03-02 15:35 | Report Abuse

jlow

Posted by offshore > 2018-03-02 16:08 | Report Abuse

If you subscribe the IPO at 2.80 and then take up all the right issue, your cost will average down to around 90 sen. PNB case is a lot more lower than 90 sen cos they get free shares being a major shareholder of UMW Holdings. Coupled that with exercise of RCPS and free warrants. Definitely lower than many other initial investors.

Posted by TeWG > 2018-03-02 19:29 | Report Abuse

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PetroChina's FY17 profit after tax hiked 91% to RM45.5 billion

TheEdge Fri, Mar 02, 2018 - 4 hours ago



KUALA LUMPUR, July 2 (Bernama) - Petronas' fourth-quarter after-tax profit jumped 61% year-to-year to RM18.2 billion for the current fiscal year from RM11.3 billion a year earlier, thanks to higher turnover and net asset reduction Value reduction and cost control properly.

According to the statement of Guoyou, the fourth quarter (FY17Q4) revenue up 14% YoY to 61.8 billion ringgit for the year ended December 31, 2017 as a result of the average realized price increase of major products and the increase of LNG And sales of petroleum products increased support. However, these factors were offset by the appreciation of the Ringgit against the U.S. dollar.

Petronas's fiscal 2017 profit after tax rebounded 91% to RM45.5 billion from RMB23.8 billion last fiscal year. Turnover increased from RM195.1 billion to RM223.6 billion from a year earlier.

Petronas said: "Continuing to push productivity and operational excellence, CNOOC is in a better position to implement its long-term growth strategy and the group expects to see satisfactory performance in the coming financial year on the basis of sustained price recovery."

In a statement, Tan Sri Wan Zulkiflee Wan Ariffin, President and Chief Executive of CNOOC, said: "The modest recovery in oil prices coupled with internal efforts to increase efficiency contributed to the strength of CNG's strong performance in FY17."

He continued that the current sustainability of oil prices remains to be seen.

He said: "The concern is that costs have been rising as recovery has been seen, and if the trend is not constrained, the entire industry is at risk and denying the costly hard work we've done over the past three years value."

"Therefore, we must abandon the concept of austerity and continue to ensure cost control, efficiency and value enhancement."

Posted by TeWG > 2018-03-02 19:30 | Report Abuse

Sell if feel this counter not good

Posted by TeWG > 2018-03-02 21:40 | Report Abuse

(February 2) - OPEC countries' crude oil output fell to a 10-month low in February mainly due to the shutdown of one oilfield in the United Arab Emirates and the continuous decline in output in Venezuela.

OPEC and its allies, including Russia, disregard their suspicions and intensify their cutback commitments for as long as they can to overdue inventories and raise prices. Although the group said it will work hard to abide by the reduction agreement by the end of the year, it is also competing with the U.S. production hit a new high, which may undermine its production cut.

According to a Bloomberg survey of analysts, oil companies and ship tracking data, OPEC's 14 member nations may have output of 80,000 barrels a day in February to 32.28 million barrels a day. This is the lowest level since 3189 barrels / day in April last year.

Venezuelan output dropped 30,000 barrels a day to 1.68 million barrels a day.

A large part of the reason why OPEC has been able to meet its production cut commitments lies in Venezuela.

The country's oil industry is not only under-invested but also threatened by U.S. sanctions, whose output dropped to its lowest level since the 1980s last year.

The survey found that the United Arab Emirates produced 2.8 million barrels of oil a day, down 50,000 barrels from January.

The daily output of Saudi Arabia, the largest producer of OPEC, dropped 80,000 barrels to 9,800 barrels / day.

Libya's production increased 70,000 barrels a day to 105 million barrels, the highest level since 2013.



Posted by TeWG > 2018-03-02 21:41 | Report Abuse

Sell if feel this counter not good

Posted by Max2838 > 2018-03-02 21:43 | Report Abuse

Malaysia's Oil Rig Count (Report by Baker Hughes International)
Jan. 31, 2018 9.00
Dec. 31, 2017 7.00
Nov. 30, 2017 6.00
Oct. 31, 2017 4.00
Sept. 30, 2017 5.00
Aug. 31, 2017 4.00
July 31, 2017 6.00

Posted by JoshuaMS7 > 2018-03-03 06:22 | Report Abuse

http://www.theedgemarkets.com/article

Posted by JoshuaMS7 > 2018-03-03 06:22 | Report Abuse

Oil price rebounding back to 64++, Monday will start to rebound!!

Posted by offshore > 2018-03-03 21:15 | Report Abuse

In a statement, Tan Sri Wan Zulkiflee Wan Ariffin, President and Chief Executive of CNOOC, said ...

This must be an error, since when he joined CNOOC?

Posted by offshore > 2018-03-03 21:17 | Report Abuse

"Therefore, we must abandon the concept of austerity and continue to ensure cost control, efficiency and value enhancement."



The word "cost control" means Petronas will continue to squeeze contractors like Umwog. ... LOL

Posted by Christopher Toh > 2018-03-04 13:21 | Report Abuse

TP 0.44 ?

Posted by JoshuaMS7 > 2018-03-04 16:46 | Report Abuse

Tomorrow should start the engine

Posted by TeWG > 2018-03-05 14:10 | Report Abuse

Oil Gains on Libya Field Halt as Geopolititical Risk Resurfaces
By
March 5, 2018, 8:18 AM GMT+8
Updated on March 5, 2018, 12:30 PM GMT+8
Libya’s biggest oil field said to halt production on Sunday
U.S. benchmark WTI rises second day above $61 a barrel

Oil climbed as geopolitical risk resurfaced, with a halt at Libya’s biggest crude field sparking speculation that supply will tighten and help reduce a global glut.

Futures in New York rose as much as 0.8 percent after a 3.6 percent decline last week. Production is said to have been halted at the Sharara oil field, the largest in the North African nation, on Sunday after protests disrupted output at another of the OPEC member’s deposits last month.

Oil has been struggling to regain the highs of January as rising U.S. output challenges efforts by the Organization of Petroleum Exporting Countries and its allies to ease a supply glut. Surging production from Libya has also been a thorn for the oil market, with concern that further growth may take the country to a level that would test a pledge made to OPEC to help limit an oversupply.

“Oil prices are responding to the tightening of supply due to the Libyan production halt,” Takayuki Nogami, chief economist at state-backed Japan Oil, Gas & Metals National Corp., said by phone. “Geopolitical risks in Libya were thought to have declined but that turned out to be wrong. Even if the Sharara field starts production again, the risk of another halt remains.”

Prices Climb
West Texas Intermediate for April delivery rose as much as 50 cents to $61.75 a barrel on the New York Mercantile Exchange and traded at $61.53 at 1:18 p.m. in Tokyo. The contract fell 3.6 percent last week, the first weekly decline in three weeks. Total volume traded was about 11 percent below the 100-day average.

Brent for May settlement added 27 cents to at $64.64 on the London-based ICE Futures Europe Exchange. Front-month futures slipped 4.4 percent last week. The global benchmark traded at a $3.29 premium to May WTI.

Libya has struggled to boost oil production amid the lingering effects of civil strife that erupted earlier in the decade. Though output has risen, it remains well below the 1.8 million barrels a day Libya pumped before the ouster and killing of former leader Muammar Qaddafi. The halt on Sunday resulted from the closing of a pipeline from Sharara to the Zawiya refinery, according to a person with knowledge of the matter.

While investors focus on Libya, in the U.S., oil explorers boosted the number of rigs drilling for crude to 800 for the first time in almost three years, according to Baker Hughes data released on Friday. Drillers have been accelerating exploration in an almost-unbroken streak since the beginning of November, vaulting American crude output to a record of more than 10 million barrels a day.

Other oil-market news:

CERAWeek by IHS Markit, the largest gathering of energy executives and officials in the Americas, begins Monday, when Secretary General Mohammad Barkindo will dine with shale executives in Houston.
Money managers boosted bets on rising WTI crude prices by the most in six weeks during the week ended Feb. 27, according to the U.S. Commodity Futures Trading Commission
China National Petroleum Corp.’s crude production may fall about 1 percent year-on-year in 2018, General Manager Zhang Jianhua said in Beijing.
Before it's here, it's on the Bloomberg Terminal.

Posted by offshore > 2018-03-05 15:03 | Report Abuse

While investors focus on Libya, in the U.S., oil explorers boosted the number of rigs drilling for crude to 800 for the first time in almost three years, according to Baker Hughes data released on Friday. Drillers have been accelerating exploration in an almost-unbroken streak since the beginning of November, vaulting American crude output to a record of more than 10 million barrels a day.


* thumbs up *

Posted by wudmec > 2018-03-05 16:01 | Report Abuse

it's possible for umwog to reach TP : 0.44 by december 2018?

Posted by IronShirt > 2018-03-05 17:11 | Report Abuse

wumog rally from 0.32 to 0.46 in 4 days ( 1st week of Jan 2018 )

Posted by IronShirt > 2018-03-05 19:02 | Report Abuse

Only Umwog closed in Green, All other Oil related counters in Red. Coming Ge14 Rally----Go Go
Avoid HengYuan and Jaks------Kyy counters under attack for Umno Cybertroopers

Posted by Mohd Fahmi Bin Jaes > 2018-03-05 22:16 | Report Abuse

No efect

Posted by keropea > 2018-03-05 23:17 | Report Abuse

power la this counter.. haha

Posted by moneypedia > 2018-03-05 23:43 | Report Abuse

good, this just hovering around the bottom....

Posted by TeWG > 2018-03-06 11:15 | Report Abuse

New York oil prices rose more than 2% in 3 weeks the largest

06/03/2018


Reduced inventories at the United States oil distribution center and the disruption of Libya's crude oil supply offset the impact of the International Energy Agency (IEA) on the U.S. production increase. External oil prices rose on Monday, recorded the biggest one-day increase in nearly three weeks.

April NY Oil closed up $ 1.32, or 2.2%, at $ 62.57 a barrel. May Brent oil futures closed up $ 1.17, or 1.8%, at $ 65.54 a barrel. Both recorded the largest one-day increase since Feb. 14.

Phil Flynn, a senior analyst at Price Futures, said traders are watching Cushing inventories fall. There are reports that local stocks decreased by 600,000 barrels last week, the lowest since 2014. Flynn pointed out that the above news reflects the strong demand for crude oil.

Posted by edison5351 > 2018-03-06 13:32 | Report Abuse

this counter very steady one , kick also wont drop or rise, hahah invincible. but once it is awake then the lion roar

Posted by Dickson FUng Ho Yin > 2018-03-06 18:10 | Report Abuse

0.305 leh.. Top up

Posted by M Blu Cantrell > 2018-03-06 18:53 | Report Abuse

nice ..thank you sifu..

Posted by Christopher Toh > 2018-03-06 23:42 | Report Abuse

accumulate @ 0.30, waiting for 0.45

Posted by offshore > 2018-03-07 09:14 | Report Abuse

I just read the news a couple of days saying that Uzma and Handal also got some umbrella contract from Petronas on workover services. So where is that so-called "monopoly" everyone is dreaming about?

Posted by anson938 > 2018-03-07 12:03 | Report Abuse

its might unchanged & going up......

Posted by freddiehero > 2018-03-07 13:36 | Report Abuse

?

Posted by freddiehero > 2018-03-07 13:37 | Report Abuse

0.32 - 50% off

Posted by Hustle > 2018-03-07 13:46 | Report Abuse

seems like we can fill up our tank cheaper this week

Posted by Fegustyle > 2018-03-07 16:05 | Report Abuse

good time to collect~ wait for next rocket

Posted by Hustle > 2018-03-07 18:31 | Report Abuse

Damn petrol price just remain tie, paper loss

Posted by babypost85 > 2018-03-08 14:36 | Report Abuse

here so quiet already.. no more show ?

Posted by deep > 2018-03-08 16:01 | Report Abuse

Quiet is good

Posted by asianmarket > 2018-03-08 20:31 | Report Abuse

game over..

Posted by Zyzztrading > 2018-03-09 09:21 | Report Abuse

Those who are familiar with analytics and with long vision will reap profits towards 2H 2018. The others will watch with their mouth open once that happens.

All impairment of assets have been done. Stock has tanked. Company is clean and the only way is up .