Posted by lee_m2020 > 2019-11-05 11:45 | Report Abuse

i will join in and put all i have at later signal..

Posted by maggiemee > 2019-11-05 12:33 | Report Abuse

lee are you sure. how much you going to put in lol

Posted by yoyo > 2019-11-05 16:55 | Report Abuse

Good that Velesto slowly slowly moving up, not to rock the boat

Posted by calvincheebursa > 2019-11-05 18:39 | Report Abuse

yeay hurrayyyyy tomorrow shoot up

Posted by JJchan > 2019-11-05 18:57 | Report Abuse

https://malaysiastock.biz/Company-Announcement.aspx?id=1182364

only RM131 mil-----Hahahaha----This Bursa secretary really pump-up my blood-pressure

Posted by calvincheebursa > 2019-11-05 19:08 | Report Abuse

RM 131 millions is good enough

Posted by Rowie > 2019-11-05 19:37 | Report Abuse

Guys it's final
It's USD 131 million translated to RM 550 million
Bursa made 2 mistakes

Posted by Rowie > 2019-11-05 19:38 | Report Abuse

Probably bursa made history

Posted by calvincheebursa > 2019-11-05 19:42 | Report Abuse

opsss yeah USD 131 millions , wow tomorrow will shoot up

Posted by JJchan > 2019-11-05 19:51 | Report Abuse

madam bursa secretary, my heart really cannot take this type of up-down news

Posted by Rowie > 2019-11-05 20:03 | Report Abuse

First USD $131,000,000 million that means usd trillions
Then change to RM 131m
Finally the actual contract value USD$131m
Thank god they corrected it in time

Posted by JJchan > 2019-11-05 20:31 | Report Abuse

i am still waiting for Velesto to receive Petronas' HWU ---hydraulic WorkOver Unit Job. Petronas
last month already issuing similar contracts to a Bursa Co. If Velesto received HWU contracts, i
am sure price can Hit 70c and above before 31 Dec 2019

Posted by JJchan > 2019-11-05 20:33 | Report Abuse

Many bullish IB already give 48--50 cents in 3Qrt

Posted by Rowie > 2019-11-05 21:03 | Report Abuse

Stupid Star Newspaper incorrectly stated RM131m instead of USD$131m
They cannot check facts & want to depress the upside

Posted by DickyMe > 2019-11-05 21:06 | Report Abuse

ya gah?

Posted by Rowie > 2019-11-05 21:34 | Report Abuse

The Edge reported RM 541m

Posted by Ah Lyn > 2019-11-05 22:18 | Report Abuse

https://www.klsescreener.com/v2/news/view/598166

Posted by Mabel > 2019-11-05 22:59 | Report Abuse

Oil and gas (O&G) sector
Maintain neutral: Large-cap Petroliam Nasional Bhd (Petronas)-related names, with the exception of MISC Bhd, have underperformed the broader FBM KLCI index, while stock prices of small- and mid-cap companies have outperformed, on the back of higher activity. As we move into November, the focus will be on corporate earnings. We highlight that maintenance and rig players could post stronger third-quarter (3Q) results benefitting from higher job flows. Contract flows are likely to see a stronger ramp-up to make up for underspending by Petronas in the first half of 2019 (1H19). We have “buy” calls on Dialog Group Bhd, Serba Dinamik Holdings Bhd, Velesto Energy Bhd, Bumi Armada Bhd and Kelington Group Bhd. We maintain our “neutral” stance on the sector.


Petronas has significantly underspent on its capital expenditure (capex) totalling RM16 billion in 1H19 or 32% of its full-year RM50 billion target. The guidance is still unchanged, showing its commitment to roll out more contracts in the coming months. Out of the RM50 billion, Petronas has allocated half for domestic projects. We believe activities will remain robust, with its domestic upstream capex also guided to be higher at RM15 billion versus RM8 billion in 2018.

The jack-up rig demand in Malaysia steadily improved from 10 operational rigs in the first quarter of 2019 (1Q19), to 13–14 rigs in 2Q-3Q19. This is in line with 16–18 rig requirements according to Petronas’ activity outlook. Daily charter rates (DCRs) in the Southeast Asian region for jack-up rigs with a water depth of more than 350ft (106.68m) are now in the range of US$65,000-US$95,000 (RM269,789-RM394,307) (versus US$55,000–US$65,000 in January 2019), less than 350ft of the current DCR at US$48,000-US$65,000 (versus US$45,000-US$60,000 before).

We gather that offshore maintenance players are likely to post strong 3Q19 profits. This includes the maintenance, construction, modification contract beneficiaries like Deleum Bhd, Carimin Petroleum Bhd, Dayang Enterprise Holdings Bhd and Petra Energy Bhd (non-rated). We understand that the first two, which operate in Peninsular Malaysia waters, are servicing one additional platform shutdown versus 2Q19, while the last two are likely to benefit from more hook-up commissioning works quarter-on-quarter.

We prefer companies with more exposure to brownfield works and good earnings visibility. We like Dialog and Serba Dinamik (maintenance), Velesto Energy (jack-up rigs), Bumi Armada (floating production storage and offloading, a recovery story with more potential positive news), and Kelington (a promising long-term industrial gas story). However, in view of the recent sector run-up and some stocks under our coverage nearing their fair values, we recommend to take profit on upcoming strong 3Q result announcements, as 4Q/1Q are seasonally weak due to the monsoon.

Any potential upgrade to our “neutral” call on the sector hinges on: i) a stronger recovery in global oil prices; ii) faster roll-outs of contract awards; and iii) work orders leading to better corporate earnings improvement.

Further downside risks would be affected by a holdback in clients’ capex spending adversely impacting work activities. — Affin Hwang Capital, Nov 4

Posted by Surewind > 2019-11-05 23:03 | Report Abuse

Lets home to see 38 - 39 cents tomorrow.
So, next year only left 1 Jack up unit without contract extensions due at the end of next year..
Long time more to negotiate best price..

Posted by Surewind > 2019-11-05 23:05 | Report Abuse

If 3 year contract and awarded USD 131m that is already around 100k++ USD per day.

Posted by calvintaneng > 2019-11-05 23:19 |

Post removed.Why?

Posted by MatBum07 > 2019-11-06 07:28 | Report Abuse

at last....I got the result

Posted by lskshare > 2019-11-06 07:45 | Report Abuse

The Star wrongly reported the new contract secured value at RM131 mil instead of USD131 mil. Still sleeping i think.

Posted by Mabel > 2019-11-06 08:07 | Report Abuse

@calvintaneng VELE VELE GOOD NEWS VELESTO

VELESTO WINNING OVER HALF BILLION RINGGIT JOBS SHOW 2ND TIER O&G SUPPORT IN BULL RUN STILL,, Calvin Tan Research
Author: calvintaneng | Publish date: Tue, 5 Nov 2019, 11:16 PM

Great !

EMPRESS VELESTO DOES NOT NEED MUCH FINANCING AS IT HAS INHERITED THE FAIRLY NEW JACK UP RIGS & HYDRAULIC WORKOVER (HWU) FROM UMWOG. So Velesto stands to reap huge windfall from this job award.

Posted by Rowie > 2019-11-06 08:40 | Report Abuse

Stupid Star newspaper did not correct the mistake

Posted by Plantermen > 2019-11-06 08:54 | Report Abuse

Positive news fliw

Posted by Money122 > 2019-11-06 09:07 | Report Abuse

Looks good!!

Posted by Money122 > 2019-11-06 09:09 | Report Abuse

Big sharks buying

Posted by sheep > 2019-11-06 09:11 | Report Abuse

sell, sell on news... buy back later

Posted by lee_m2020 > 2019-11-06 09:22 | Report Abuse

Yess!!! all in... buy buy buy.... this will go up .40 today

Posted by Twowah123 > 2019-11-06 09:24 | Report Abuse

What the tp gais?? Can hold long term??

Posted by lee_m2020 > 2019-11-06 09:24 | Report Abuse

Hahahah.... sohai lol.. buy and just wait until Chrismas.. the signal is STRONG!!!

Posted by lee_m2020 > 2019-11-06 09:28 | Report Abuse

Well, target .50 cen is too high for End of Year and Christmas... https://klse.i3investor.com/blogs/www.eaglevisioninvest.com/233896.jsp But, looking at the other counters like Armada, UZMA, KNM looks like this one is still lag far behind..

Posted by Woodswater > 2019-11-06 09:29 | Report Abuse

https://www.theedgemarkets.com/article/affin-hwang-downgrades-velesto-hold-target-price-37-sen

Fair? Laugh die me!
Wakakakaka

Posted by lee_m2020 > 2019-11-06 09:35 | Report Abuse

"valued at US$131 million and expected to commence in 2H20."...

Posted by Mabel > 2019-11-06 10:10 | Report Abuse

@JJchan Many bullish IB already give 48--50 cents in 3Qrt
05/11/2019 8:33 PM

+ 1...

This assessment below was done before the USD 131 Million contract..Hence, I'm in line with JJ Chan and Calvin forecast...

Velesto Energy Bhd, a rig owner and operator of seven offshore drilling rigs and four hydraulic workover units, and which is close to 63%-controlled by state-owned Permodalan Nasional Bhd and its units.

Utilisation is up, daily charter rates are also up, the sector is turning around and earnings are going to turn around. The outlook for its drilling segment, which is its main revenue generator increased demand for both jack-up drilling rigs and hydraulic work over units is expected to benefit the group, as it is the main player in the segment with strong domestic and regional track record. A gradual improvement in time charter rates is also seen based on recently awarded contracts.

Uptrend is intact as share price has tested its 52-week high at RM0.365 on Friday with exceptionally higher trading volume. Technical-wise, the share price is trading above all leading moving averages and we expect buying interest to persist, possibly to trend higher. From here, resistance levels are expected at RM0.420 (R1) and RM0.480 (R2).
06/11/2019 10:10 AM

Posted by Smartinvestor2030 > 2019-11-06 10:18 |

Post removed.Why?

Posted by CT888 > 2019-11-06 10:30 | Report Abuse

Be patient guys,

Velesto show only start 11am, is still early !!

Posted by Mabel > 2019-11-06 10:30 | Report Abuse

She ain't heavy, she's my sister...

Posted by CT888 > 2019-11-06 10:34 | Report Abuse

Still can queue for ticket @ 375,

Or cut q buy @ 380...

Before show starts !!

Posted by MatBum07 > 2019-11-06 10:36 | Report Abuse

Not interested on down trend stocks

Posted by CT888 > 2019-11-06 10:50 | Report Abuse

LAST Call ! !0 min to start show !!

Posted by Twowah123 > 2019-11-06 10:56 | Report Abuse

Keep it rite. The next dayang/penergy/knm..hehe

Posted by Sales > 2019-11-06 11:07 | Report Abuse

https://www.thestar.com.my/business/business-news/2019/11/06/trading-ideas-hartalega-westports-sunway-reit-velesto-fn-dolphin

Posted by CT888 > 2019-11-06 11:36 | Report Abuse

Was told the Real show only starts after Lunch !!!

Go for my lunch first.. See U later

Posted by Surewind > 2019-11-06 11:37 | Report Abuse

Next catalyst would be a very green quarter result this month.
But best is to hold it for another year.

Posted by JJchan > 2019-11-06 12:29 | Report Abuse

Volume set for Bull Run. Goreng Masters are shifting Funds to Velesto this afternoon session

Posted by calvincheebursa > 2019-11-06 12:36 | Report Abuse

go go go

Posted by Lee Yong Hour > 2019-11-06 13:15 | Report Abuse

0.4 hit up short time

Posted by calvincheebursa > 2019-11-06 13:39 | Report Abuse

yeah l think 0.40 is possible