Posted by tkl88 > 2020-03-13 17:36 | Report Abuse

Wow, Amazing ! As at 5.35 p.m,
Dow Jones Futures a big green now at => 21,773.0 (+688.0) (+3.26%) !
Like that next monday onwards will be a bull market coming already lah !

Posted by tkl88 > 2020-03-13 19:19 | Report Abuse

Wao, Fantastic !
As at 7.18 p.m,
Dow Jones Futures spike up to => 22,191.0 (+1106.0) (+5.25%) !

Posted by tkl88 > 2020-03-13 19:27 | Report Abuse

Crude oil price also super green green now !
As at 7.27pm,
Nymex => 33.16 (+1.66) (+5.27%)
Brent => 35.01 (+1.79) (+5.39%)

Posted by Mabel > 2020-03-13 22:23 | Report Abuse

Meow..

Posted by IronShirt > 2020-03-14 09:25 | Report Abuse

https://finance.yahoo.com/news/trump-emerges-oils-white-knight-235821869.html

Trump is Buying Oil for storage. Sohai Saudi/Russia, sell cheap now and later US Strategic Oil
reserve will dispose at a Higher price and makes Billion from Saudi / Russian pockets

Posted by Mabel > 2020-03-14 09:41 | Report Abuse

Unbelievable !

Dow Jones closed at a superb green (spike up nearly a 2,000 points)
at => 23,185.62 +1,985.00 (9.36%)

Like that next Monday onward definitely will be a bull market coming already lah !

Meow..

Posted by JJchan > 2020-03-14 10:01 | Report Abuse

Goodness me. EPF and Amanah are buying so many shares. With Trump helps, Velesto should
be back to 30cents in One or Two weeks

Posted by JJchan > 2020-03-14 10:36 | Report Abuse

https://finance.yahoo.com/news/saudi-refuses-extra-april-crude-081630570.html

Cheap Oil but limited supply.

In 2008 at the peak of Financial Crisis, my Oil agent told me there were 800 --1000(big & small ) Oil
tankers parked at Shanghai Harbour for unloading. Guess who is Buying, China Strategic Oil
reserve----price also around $30. With Trump and China (strategic Oil reserve Co.) Buying at the
same time, no wonder can have Cheap Oil but No supply.

I think in 30days, Oil will jump back $60----Saudi is just doing a "Show"

Posted by IronShirt > 2020-03-14 12:01 | Report Abuse

Both CIA and KGB know Saudi Oil reserve Volume. Saudi is like a small Boy throwing a massive
tantrum, attack Russian's clients here and there. Basically Saudi already at 100% production, extra Oil are from Oil Reserve tanks. How long can this last? Aramco Oil reserve is used as a Loan pledge. Just cannot deplete too much

Posted by Daily8 > 2020-03-14 13:26 | Report Abuse

JJchan, Saudi oil is free. Even at 30 per barrel, they still make money. Their focus was to create panic.

Posted by JJchan > 2020-03-14 14:41 | Report Abuse

Some said Saudi extraction cost is $5---8/ barrel. There is a real different between Aramco's Profit and Saudi National Budget. Like Petronas, every dollar from Aramco is funneled back to Saudi's
National/Country Budget. Saudi build highways, Bridges, War-chest against Yemen and Gov. Servant paycheck-----all comes from Oil Sales. International Accounting firm has estimate to cover
all these expenses(national level), Saudi need Oil price at around $80. If sell at $30, Saudi is looking at $50 deficit ( can borrow from foreign Bank )----not a problem bcos Saudi has a Huge Storage Reserve. But if Saudi keep selling from Oil Reserve, oil reserve that act as Loan collateral
for National Budget, then Saudi got a huge problem. Somewhere alone the line, either infrastructure stops Or Gov. servant paycheck Cuts.

Posted by bensonlam33222 > 2020-03-14 18:03 | Report Abuse

glad to find some smart commentators here.

Posted by bensonlam33222 > 2020-03-15 12:42 | Report Abuse

how to push up the oil price? easy .just start a mini war in middle east like some of former US presidents did .

Posted by SinGor > 2020-03-15 20:26 | Report Abuse

https://finance.yahoo.com/news/aramco-profit-falls-21-lower-070438234.html

Saudi already cuts spending

Posted by mf > 2020-03-15 23:04 | Report Abuse

Coronavirus live updates: Nike closes all US stores, American Airlines suspends long-haul flights

Posted by Kopimilo > 2020-03-16 09:45 | Report Abuse

No body want to rescue the market, selling is dominant. Covid-19 in reality potentially has major impact on everything economic ecosystem. China may put a hold on Covid-19 propagation after several regions or states being lock down couples of week. It may take another few months for one of biggest world's economy to return as before. Unfortunately Europe and USA are just beginning to experience the consequences of Covid19 silent propagation, with one to another tighter measures were implemented including lockdown. Only time will tell Covid-19 will be fully contained and life back to normal, so to the vital economic ecosystem. What tribulation mankind lately ever experience, so stand firm on trading.

Posted by SinGor > 2020-03-16 10:33 | Report Abuse

https://finance.yahoo.com/news/federal-reserve-cuts-rates-to-zero-restarts-quantitative-easing-qe-210001968.html

Velesto is Buy. Fed cuts rate to ZEro. Heavy Debt Co. like Velesto will get relieve from Interest
Expenses

Posted by Baby Shark > 2020-03-16 10:51 | Report Abuse

Jatuh to 2 cent you nangis kuat kuat..

Posted by Surewind > 2020-03-16 12:18 | Report Abuse

Long term loans 270.4 million USD,
Short term borrowings, 76.15 million USD.

Interest rate from 1.25% to 0.25% will certainly help Velesto but can they get new high value contract wins, or they need to reduce their daily price.

Posted by tradercorp > 2020-03-16 12:28 | Report Abuse

Oil price down again. Better sell. Tomorrow will be worse.

https://www.theedgemarkets.com/article/oil-slides-again-squeezed-between-coronavirus-demand-hit-and-price-war-bite

Posted by prince4 > 2020-03-16 12:34 | Report Abuse

Covid-19 make economy slow down company fundamental will metamorphism and company with high debt will face collapse or bankruptcy soon.Expect local and foreign funds money would not flow in big cap and mid cap stock because everybody scare buy high losses money . In this few month expect Funds manager money would flow out in bigcap and midcap stocks and will short selling midcap stocks for make money so now no prospects cannot buy and hold.
market stock RM10 drop to RM5, RM5.00 drop to RM 2.00 , followed RM2.00 drop RM1.00, followed RM1.00 drop to 50 cent, followed 50 cent drop to 20cent ,followed 20 cent drop to 10cent ,followed 10 cent drop to bottom.
High debt company cannot hold ,high prices stock cannot hold , market never sleep money never sleep just buy bottom low prices with cash rich company . This is a opportunity markets smarts money no longer will flows in cheaper stocks market will goreng lows price stock at bottom.

Posted by JoshuaMS7 > 2020-03-16 12:40 | Report Abuse

This counter seems getting serious! Everyone is selling crazily! No dare to buy anymore! Run!

Posted by JJchan > 2020-03-16 12:42 | Report Abuse

Just 2 months ago, Shanghai market had massive 30% selldown. I bought in, and now i started selling with 25% gain----Now bursa a Good Buy market ( a Tabligh fright and a Black Monday Sell down )

Posted by Palmgirl > 2020-03-16 12:47 | Report Abuse

Govt will most probably announce more stricter measures to tackle the pandemic. Tomorrow market will surely down again. Better sell before too late.

Posted by wan > 2020-03-16 12:55 | Report Abuse

betul ni...hutang lapuk punya syarikat saham kami tak mau kasi jual ...kata Najib ""cash is king" .... syarikat yang banyak tunai kita mau ...kata mahathir " cash not king " buy buy buy sebab undervalue kami mau saham...

Posted by JJchan > 2020-03-16 13:14 | Report Abuse

https://finance.yahoo.com/news/morgan-stanley-says-markets-bottoming-022115915.html

Buy Call for Dow by Morgan Stanley----same Buy call by me for Bursa

Posted by Surewind > 2020-03-16 13:19 | Report Abuse

PNB staring at massive paper loss in O&G counters

Its investment in Sapura Energy alone would see PNB recording a paper loss of about RM1.1b in the last 3 months

by DASHVEENJIT KAUR / pic by TMR FILE PIX

PERMODALAN Nasional Bhd (PNB) is seeing billions of its investment in the oil and gas (O&G) sector vanish as oil prices tumble, punishing related stocks with Sapura Energy Bhd’s share price plunging to a new record low.

Oil prices fell to as much as 34% on Feb 9, which was the biggest single-day plunge of the commodity since the US invaded Iraq in 1991.

The Russia-Saudi Arabia oil price war and the coronavirus pandemic led to the crash of global oil prices, triggering alarm bells and dragging O&G counters.

PNB has a substantial shareholding in Sapura Energy, Velesto Energy Bhd and Dialog Group Bhd. Collectively, the three companies have witnessed their total market value dropping about RM6.3 billion since December.

In 2017 and 2018, PNB injected more than RM800 million into Velesto and RM2.68 billion in Sapura via two separate rights issues.

PNB’s investment in Sapura Energy alone would see the country’s largest fund manager recording a paper loss of about RM1.1 billion in the last three months.

At the end of December 2019, Sapura’s share price was trading at 27 sen a share. The counter settled at 10.5 sen or 61.1% lower last Friday, valuing the company at only RM1.68 billion.

In the last 12 months, Sapura Energy’s share has tanked to a new low of eight sen from a high of 37 sen. At its peak, the share reached a high of RM4.94 at the end of 2013 when Brent was trading at above US$100 (RM427.92).

But the global oil crash, which began in early 2015, has taken a toll on the company.



Sapura Energy raised about RM4 billion from a rights issue early last year and turned PNB and its associated funds into its largest shareholder with a combined 40% interest from 12.6% previously. The rights issue price was set at 30 sen.

The unsubscribed portion or 1.85 billion units were taken by joint underwriters — Maybank Investment Bank Bhd, CIMB Investment

Bank Bhd and RHB Investment Bank Bhd — who would also be reeling with paper losses.

PNB also has a 62% equity interest in Velesto. The stock fell from 38.5 sen early this year to RM1.52 billion as of last Friday.

Velesto’s debt risk has risen five levels, according to a Bloomberg Model. PNB’s market value in the rig operator has thinned by about RM700 million.

Velesto returned to profitability in its financial year ended Dec 31, 2019 (FY19), after four consecutive years of losses. Sapura Energy, however, remains in the red, with its third straight quarterly loss recorded in December.

Sapura Energy’s orderbook stands at RM15.1 billion with cumulative new contract wins to date in FY20 of RM3.7 billion.

As for Velesto, analysts are mostly upbeat of the company’s prospects on the prospects of dividends. Velesto has proposed to undertake a capital reduction exercise to offset RM2.2 billion of its issued share capital against its accumulated losses of RM2.1 billion as at FY19.

Analysts view this in a positive light as it sets the company up for potential future dividend payment in view of its return to profitability and positive cashflow.

MIDF Amanah Investment Bank Bhd said the sharp plunge in oil price will definitely hit the upstream exploration and production players like Sapura Energy, given that oil productions are directly correlated to the oil price.

“In a prolonged oil price war environment, globally, we anticipate oil majors to cut or delay some portion of their planned capital expenditures for 2020, which in turn could potentially result in delayed contract awards for the O&G service providers,” it said.


Lot of good things said for Velesto, even possible dividend payment.
If got spare cash can top up.

Posted by JJchan > 2020-03-16 13:41 | Report Abuse

Morgan Stanley "Buy Call" for Dow is actually following historical Data. Dow peak at 29,423 and
plunged to 21,200 giving 27.94% plunge ( should be bottom of Bear Market )

Bursa peak at 1726 (Feb 19 ) and Today 1307 ( Mar 16, 2020). Bear Market should formed bottom here at 24.2% Down ( or max next few weeks )

Posted by JJchan > 2020-03-16 13:42 | Report Abuse

Buy Call always starts with 30% Down-----Golden Rule

Posted by tradercorp > 2020-03-16 13:54 | Report Abuse

https://www.theedgemarkets.com/article/oil-slides-again-squeezed-between-coronavirus-demand-hit-and-price-war-bite

Posted by Palmgirl > 2020-03-16 14:02 | Report Abuse

https://www.nst.com.my/business/2020/03/574928/oil-extends-slide-nears-us30-barrel-covid-19-weighs-global-economy

Posted by sonata18 > 2020-03-16 14:06 | Report Abuse

Bad news. Price will go down further later.

Posted by JJchan > 2020-03-16 14:32 | Report Abuse

Buy Call is not ask you to Sailang but start moving FD slowly into Good beaten-down stock.
I think Bank Negara hands are Tied now. Either Cut to 1.0 Or zero (next few days you will know )

Velesto is down 55% now. How far can it go? PNB going bankrupt----yeah in your Dream. Velesto
is making money in 2020. Look at EPF buys Volume. Small fish is always looking at Ghost. When up 30%, they will chase

Posted by RMSB > 2020-03-16 14:35 | Report Abuse

Soon be .09

Posted by tradercorp > 2020-03-16 14:46 | Report Abuse

O & G is going bust soon.

https://www.nst.com.my/business/2020/03/575026/diversify-revenue-base-og-players-urged

Posted by flyover2 > 2020-03-16 15:24 | Report Abuse

where's the bottom....huhu.

Posted by JoshuaMS7 > 2020-03-16 16:26 | Report Abuse

Market crash run!!

Posted by Twowah123 > 2020-03-16 21:08 | Report Abuse

Nice enter today. Keep some money too. Every decline in price will buy again.....

Posted by Twowah123 > 2020-03-16 21:11 | Report Abuse

Every decline buy. After market ok juz keep long term.

Posted by AlvinTSK > 2020-03-16 21:54 | Report Abuse

Please advise the base line for this counter

Posted by Robinson > 2020-03-16 21:55 | Report Abuse

Posted by AlvinTSK > Mar 16, 2020 9:54 PM | Report Abuse

Please advise the base line for this counter
-------------------------
1 cent

Posted by Huatexpert > 2020-03-16 22:01 | Report Abuse

logically..Petronas to maintain capex despite oil price slump.
Velesto.should be safe for this round..

https://www.theedgemarkets.com/article/petronas-maintain-capex-despite-oil-price-slump

Posted by JoshuaMS7 > 2020-03-17 05:24 | Report Abuse

Dji crash another 2999 pts! Oil price crash another 10% to 28 usd per barrel!! Is this counter possible for bankruptcy before rebound? Please advise!!

Posted by Huatexpert > 2020-03-17 08:26 | Report Abuse

The balance sheet of Velesto look much stronger than in 2016 and it still can survive with current low chartered rate...

With Debt to Equity ratio 0.35 and Debt reduced by close to RM 90 mil last year.
Finance cost reduced by RM 4 mil last year and expected this yr Finance cost will reduce further with lower borrowing and lower interest rate. Expected RM 10 mil lower finance cost compare to 2019.

Cash Flow : Net Cash Generated From Operating Activities in 2019 : RM 202 mil
Capex will be low compare to 2019 where 3 rigs had gone thru 5-yearly special periodic survey (“SPS”)

Velesto expected to give dividend after the capital reduction program...

As per latest Q report
All seven of the Group’s jack-up drilling rigs are currently contracted. NAGA 3, which is currently
undergoing the mandatory SPS is scheduled to resume work under its existing contract. With our
current order book of RM2.0 billion including options, our rig utilisation is expected to be sustained in 2020.

There is reason EPF and Amanah saham bumiputra continue bought shares at current market...

With commitment from Pertronas of capex spending for local market remain no change.
Velesto should be fine in 2020....

Posted by Huatexpert > 2020-03-17 08:33 | Report Abuse

PNB has 62% equity interest in Velesto. (ASB - is part of PNB)
EPF has 8 % equity interest in Velesto.
Both combine owned 70% of Velesto....

https://themalaysianreserve.com/2020/03/16/pnb-staring-at-massive-paper-loss-in-og-counters/

Posted by Twowah123 > 2020-03-17 09:31 | Report Abuse

Buy velesto now. Top up whenver hit new low and keep it for good.

Posted by Palmgirl > 2020-03-17 13:10 | Report Abuse

Dead. Better sell now.

https://www.theedgemarkets.com/article/oil-price-dips-below-us30bbl

Posted by tradercorp > 2020-03-17 13:16 | Report Abuse

Price will drop again.

Posted by sonata18 > 2020-03-17 14:44 | Report Abuse

This counter will down again soon. Oil price still dropping.

Posted by jojohobo > 2020-03-17 22:50 | Report Abuse

oh dear, velesto chairman positive with virus. what more to come?