Posted by Good123 > 2020-11-11 11:09 | Report Abuse

harga minyak Naik berterusan Hari ini

Posted by Good123 > 2020-11-11 11:13 | Report Abuse

net assets per share ~36sen, p/b value ~ 0.3x Murah. untung 1st half, boleh bagi dividend anytime

Posted by Good123 > 2020-11-11 11:14 | Report Abuse

akaun juga Dah dicuci bersih cantik

Posted by Good123 > 2020-11-11 11:17 | Report Abuse

dulu right issue pun 30sen. Murah hargA semasa

Rights Issue

UMW OIL

Posted by Good123 > 2020-11-11 11:18 | Report Abuse

akaun Dah diperkuatkan semasa RI at 30sen 3 tahun lepas

Posted by Good123 > 2020-11-11 11:19 | Report Abuse

dulu subsidiary umw glamour lah bekas anal syarikat umw, sop semuanua bagus

Posted by Good123 > 2020-11-11 11:20 | Report Abuse

15-20sen TP jangka pendek

Posted by Good123 > 2020-11-11 11:28 | Report Abuse

china recovery from covid will drive up oil demand

HANGZHOU: Chinese e-commerce giant Alibaba Group Holding Ltd said orders made during its Singles' Day mega-shopping festival had exceeded $56 billion by Wednesday morning, as consumers sought to cash in on a deluge of discounts.

This year's shopping extravaganza comes a week after Alibaba lost almost $76 billion of its market value following China's suspension of the $37 billion listing of Ant Group, the financial technology firm Alibaba owns a third of.

It also takes place as China experiences an economic rebound after getting the spread of the novel coronavirus under control within its borders, following the virus' emergence in the central city of Wuhan late last year.

Alibaba launched the annual online blitz early this year, with two primary discount periods taking place from Nov. 1 through Nov. 3 and again on Nov. 11.

The company will calculate gross merchandise volume (GMV) over the full 11-day period, as opposed to the usual 24 hours.

As of 12:30 a.m. local time (1630 GMT) on Nov. 11, the campaign's GMV had surpassed 372.3 billion yuan ($56.3 billion) with the order rate hitting a record peak of 583,000 per second, Alibaba said.

Alibaba has said it will introduce more than 2 million new products, double last year's amount. Other companies such as Douyin - the Chinese version of Beijing ByteDance Technology Co Ltd's TikTok - JD.com Inc and Pinduoduo Inc are also holding their own Singles Day shopping events.

JD.com, which started its shopping promotions on Nov. 1, said it recorded 200 billion yuan worth of sales by nine minutes after midnight on Wednesday, while electronics retailer Suning.com Co Ltd - part-owned by Alibaba - said it made 5 billion yuan in sales in the first 19 minutes of the day.

Analysts expect this year to be a boon for luxury brands, as Chinese consumers accustomed to going overseas to buy high-end goods are now stuck at home due to coronavirus border closures.

Andy Halliwell, retail analyst at digital consultancy Publicis Sapient, in a client note said, "The lack of consumer tourism which has hit European and U.S. stalwarts like Harrods, Galeries Lafayette and Nordstroms will likely see bigger spending locally".

On China's Twitter-like Weibo, discussions around Singles Day trended while a poll by Sina Entertainment, which garnered 174,000 respondents, found 76,000 people aimed to spend less than 1,000 yuan while only 7,341 planned to dole out more than 10,000 yuan.

Alibaba first launched the shopping event in 2009 and has made it the world's biggest online sales festival, eclipsing Cyber Monday in the United States. Last year, it recorded $38.4 billion in GMV on the day.

Pop star Katy Perry, who has performed at the event before, made an appearance at the company's gala late on Tuesday, albeit via livestream, as travel restrictions on outside visitors remain in place in China. - Reuters

Posted by Good123 > 2020-11-11 11:33 | Report Abuse

PNB holds ~50% stake Dalam velesto. Petronas Akan berikan keutamaan kepada velesto. milik negara :)

Posted by Valgrovest > 2020-11-11 11:38 | Report Abuse

Hold tight....oil prices expected to soar further

Posted by Good123 > 2020-11-11 11:42 | Report Abuse

No. Holders No. of Shares %
1 AMANAHRAYA TRUSTEES BERHAD
AMANAH SAHAM BUMIPUTERA
2,810,520,402 34.21
2 PERMODALAN NASIONAL BERHAD 1,014,554,759 12.35
3 CITIGROUP NOMINEES (TEMPATAN) SDN. BHD.
URUSHARTA JAMAAH SDN. BHD. (1)
410,247,380 4.99
4 AMANAHRAYA TRUSTEES BERHAD
AMANAH SAHAM MALAYSIA
326,487,600 3.97
5 AMANAHRAYA TRUSTEES BERHAD
AMANAH SAHAM MALAYSIA 2 - WAWASAN
214,000,000 2.60
6 CITIGROUP NOMINEES (TEMPATAN) SDN. BHD.
EMPLOYEES PROVIDENT FUND BOARD
189,728,574 2.31
7 CITIGROUP NOMINEES (ASING) SDN. BHD.
EXEMPT AN FOR CITIBANK NEW YORK (NORGES BANK 14)
127,217,900 1.55
8 CITIGROUP NOMINEES (TEMPATAN) SDN. BHD.
EMPLOYEES PROVIDENT FUND BOARD (ABERDEEN)
89,267,300 1.09
9 AMANAHRAYA TRUSTEES BERHAD
AMANAH SAHAM BUMIPUTERA 2
87,397,568 1.06
10 AMANAHRAYA TRUSTEES BERHAD
AMANAH SAHAM BUMIPUTERA 3 - DIDIK
84,856,503 1.03
11 AMANAHRAYA TRUSTEES BERHAD
PUBLIC SMALLCAP FUND
68,457,400 0.83
12 CITIGROUP NOMINEES (TEMPATAN) SDN. BHD.
KUMPULAN WANG PERSARAAN (DIPERBADANKAN) (ABERDEEN)
67,536,900 0.82
13 HSBC NOMINEES (ASING) SDN. BHD.
JPMCB NA FOR VANGUARD TOTAL INTERNATIONAL STOCK INDEX FUND
61,563,712 0.75
14 HSBC NOMINEES (ASING) SDN. BHD.
JPMCB NA FOR VANGUARD EMERGING MARKETS STOCK INDEX FUND
60,561,627 0.74
15 AMANAHRAYA TRUSTEES BERHAD
PUBLIC ISLAMIC OPPORTUNITIES FUND
44,735,900 0.54
16 CITIGROUP NOMINEES (TEMPATAN) SDN. BHD.
EMPLOYEES PROVIDENT FUND BOARD (ASIANISLAMIC)
35,341,300 0.43
17 CITIGROUP NOMINEES (TEMPATAN) SDN. BHD.
EMPLOYEES PROVIDENT FUND BOARD (ABERISLAMIC)
31,817,800 0.39
18 HSBC NOMINEES (TEMPATAN) SDN. BHD.
HSBC (M) TRUSTEE BHD FOR AFFIN HWANG AIIMAN GROWTH FUND (4207)
31,110,700 0.38
19 CITIGROUP NOMINEES (ASING) SDN. BHD.
EXEMPT AN FOR CITIBANK NEW YORK (NORGES BANK 1)
31,065,200 0.38
20 AMANAHRAYA TRUSTEES BERHAD
AMANAH SAHAM NASIONAL
25,246,927 0.31
21 HSBC NOMINEES (TEMPATAN) SDN. BHD.
HSBC (M) TRUSTEE BHD FOR MANULIFE INVESTMENT AL-FAUZAN (5170)
24,696,600 0.30

Posted by Good123 > 2020-11-11 11:43 | Report Abuse

PNB n amanah saham hold a lot more than 50%

Posted by Good123 > 2020-11-11 11:44 | Report Abuse

banyak Dana institusi

Posted by Good123 > 2020-11-11 11:44 | Report Abuse

No. Holders No. of Shares %
22 HSBC NOMINEES (TEMPATAN) SDN. BHD.
HSBC (M) TRUSTEE BHD FOR MANULIFE INVESTMENT PROGRESS FUND (4082)
24,104,200 0.29
23 KUMPULAN WANG PERSARAAN (DIPERBADANKAN) 23,661,200 0.29
24 CARTABAN NOMINEES (ASING) SDN. BHD.
EXEMPT AN FOR BARCLAYS CAPITAL SECURITIES LTD. (SBL/PB)
23,646,269 0.29
25 CITIGROUP NOMINEES (ASING) SDN. BHD.
CBNY FOR EMERGING MARKET CORE EQUITY PORTFOLIO DFA INVESTMENT
DIMENSION GROUP INC
22,792,392 0.28
26 CITIGROUP NOMINEES (TEMPATAN) SDN. BHD.
MANULIFE INSURANCE BERHAD (OL PAR)
20,578,700 0.25
27 AMANAHRAYA TRUSTEES BERHAD
ASN EQUITY 5
20,000,000 0.24
28 AMANAHRAYA TRUSTEES BERHAD
ASN SARA (MIXED ASSET CONSERVATIVE) 2
20,000,000 0.24
29 CITIGROUP NOMINEES (ASING) SDN. BHD.
CBNY FOR DIMENSIONAL EMERGING MARKETS VALUE FUND
18,780,227 0.23
30 CARTABAN NOMINEES (TEMPATAN) SDN. BHD.
RHB TRUSTEES BERHAD FOR MANULIFE INVESTMENT SHARIAH PROGRESSFUND
18,753,200 0.23
SUBSTANTIAL SHAREHOLDERS
As per the register of substantial shareholders
Substantial Shareholder No. of Shares
Held
(Direct Interest)
% of Issued
Shares
No. of Shares Held
(Indirect/Deemed
Interest)
% of Issued
Shares
AMANAHRAYA TRUSTEES BERHAD
AMANAH SAHAM BUMIPUTERA
2,810,520,402 34.21 0 0
PERMODALAN NASIONAL BERHAD 1,014,554,759 12.35 0 0
YAYASAN PELABURAN BUMIPUTRA* 0 0 1,014,554,759 12.35
CITIGROUP NOMINEES (TEMPATAN) SDN. BHD.
• URUSHARTA JAMAAH SDN. BHD. (1)
• URUSHARTA JAMAAH SDN. BHD. (AFFIN 2)
410,247,380
13,877,300 5.16 0 0
* Yayasan Pelaburan Bumiputra is deemed to have indirect interest through its shareholding of 100% less one share of
Permodalan Nasional Berhad by virtue of Section 8(4) of the Companies Act, 2016.

Posted by Good123 > 2020-11-11 11:45 | Report Abuse

banyak long term investors Dalam velesto macam blue chip

Posted by Good123 > 2020-11-11 11:48 | Report Abuse

KUALA LUMPUR: The ringgit was little changed against the strengthening US dollar in early trade Wednesday amid stronger oil prices as optimism over a potential COVID-19 vaccine continued to outweigh worries about the demand outlook.

At 9.16 am, the local currency stood at 4.1190/1230 versus the greenback compared with Monday's close of 4.1180/1230.

The market was seeing continued drawdown in crude inventories, with the American Petroleum Institute (API) data showing a major draw in crude oil inventories of 5.147 million barrels for the week ending Nov 6.

In the previous week, the API reported a large draw in oil inventories of 8.01 million barrels.

On the other hands, the dollar was lower following a surge in new COVID-19 infections in the US.

Against other major currencies, the ringgit was traded mostly lower except for the Singapore dollar.

It rose against the Singapore dollar to 3.0547/0588 from Tuesday's close of 3.0567/0606 but declined versus the euro to 4.8674/8734 from 4.8613/8684.

The local note dropped vis-a-vis the yen to 3.9150/9199 from 3.9092/9151 and decreased against the British pound to 5.4606/4675 from 5.4551/4634 yesterday. - Bernama

Posted by Good123 > 2020-11-11 11:57 | Report Abuse

other notable listed entities that have successfully listed their subsidiaries include Sime Darby and Sime Darby Property Bhd, Telekom Malaysia Bhd and Telekom Malaysia International (known as Axiata Group Bhd today) as well as UMW Holdings Bhd and UMW Oil

Posted by Good123 > 2020-11-11 12:00 | Report Abuse

lagi 2 Bulan sudah 2021 :) AmInvestment Bank said in a report.

The research house has maintained its crude oil price forecast at US$40-US$45 per barrel for this year and US$45–US$50 for 2021.

For comparison, the Energy Information Administration’s short-term outlook projects crude oil prices at US$41 per barrel for 2020 and US$50 for 2021.

Posted by Good123 > 2020-11-11 12:12 | Report Abuse

Brent crude futures settled up US$1.21, or 2.9%, at $43.61 per barrel. U.S. West Texas Intermediate (WTI) crude futures gained $1.07, or 2.7%, to $41.36. Both contracts jumped 8% on Monday, their biggest daily gains in more than five months.

NEW YORK: Oil prices ended nearly 3% higher on Tuesday as hopes that a COVID-19 vaccine is on the horizon outweighed worries about a drop in fuel demand from new lockdowns to contain the virus.

Brent crude futures settled up US$1.21, or 2.9%, at $43.61 per barrel. U.S. West Texas Intermediate (WTI) crude futures gained $1.07, or 2.7%, to $41.36.

Both contracts jumped 8% on Monday, their biggest daily gains in more than five months, after drugmakers Pfizer and BioNTech said their experimental COVID-19 treatment was more than 90% effective based on initial trial results.

Oil bounced again Tuesday afternoon after the director of the U.S. National Institute of Allergy and Infectious Diseases, Anthony Fauci, said doses of the vaccine will be available for people at the highest priority in December.

"This implies that at some point in next year, people may be able to go on vacation, which means we will see a greater demand for jet fuel," said Bob Yawger, director of energy futures at Mizuho.

"For the energy complex this is the best thing since sliced bread," he added.

Mass rollouts, however, are likely to be months away and subject to regulatory approvals.

In the meantime, renewed lockdowns in Europe and rising coronavirus cases in the United States are still hurting fuel demand, however.

"The rising counts could associate with more intense business lockdowns and work at home trends that have forced a sharp curtailment in U.S. driving habits," said Jim Ritterbusch, president of Ritterbusch and Associates in Galena, Illinois.

Traffic in London, Paris and Madrid fell sharply in November after a peak in October, according to data provided to Reuters by location technology company TomTom for mobility until Sunday evening.

There were more than 59,000 COVID-19 patients in hospitals across the United States on Monday as U.S. coronavirus cases surged to more than 10 million.

Prices were also boosted by comments from Saudi Arabia's energy minister, who on Monday said that the Organization of the Petroleum Exporting Countries and its allies, together known as OPEC , could tweak their supply pact if demand slumps before the vaccine is available.

OPEC agreed to cut supply by 7.7 million barrels per day (bpd) from August through December and then ease the cuts by about 2 million bpd in January.

- Reuters

Posted by Good123 > 2020-11-11 12:14 | Report Abuse

Oil prices extended Monday's surge, which gave the commodity its biggest daily percentage gain in five months, as views of a possible medical solution to the pandemic outweighed sagging demand from new lockdowns to contain the virus.

U.S. crude rose 2.66% to settle at $41.36 per barrel, while Brent settled at $43.61 per barrel, up 2.85% on the day.

Posted by Good123 > 2020-11-11 12:26 | Report Abuse

Dah 30mil syer traded so early

Posted by Good123 > 2020-11-11 12:27 | Report Abuse

hold n invest for longer term macam PNB , amanah saham etc

Posted by Good123 > 2020-11-11 12:27 | Report Abuse

consult your fund manager

Posted by KAQ4468 > 2020-11-11 12:35 | Report Abuse

Stay cool stay invest

Posted by KAQ4468 > 2020-11-11 12:35 | Report Abuse

Buy 10 cents

Sell 40 cents

Posted by KAQ4468 > 2020-11-11 12:36 | Report Abuse

Apa lagi mau???

Posted by KAQ4468 > 2020-11-11 12:36 | Report Abuse

Wakakakakayaaa

Posted by Victor Yong > 2020-11-11 14:05 | Report Abuse

Overall, first half untung. Cash >rm116mil++

VELESTO ENERGY BERHAD
Unaudited Condensed Consolidated Statement Of Cash Flows For The Period Ended 30 June 2020
CASH FLOWS FROM OPERATING ACTIVITIES
Profit / (Loss) Before Tax
Adjustments For:
Depreciation & Amortisation
Interest Expense
Share Of Results Of Associated Company Investment Income
Net Gain On Disposal Of Property, Plant & Equipment
(Unaudited) 6 Months Ended 30/06/2020 RM'000
4,201
120,181 37,097
(102) (4,004)
-
(Unaudited) 6 Months Ended 30/06/2019 RM'000
(7,926)
94,048 47,560
(117) (4,014) (58)
Net Unrealised Foreign Exchange Loss / (Gain)
10,076
(265)
Net Fair Value Loss / (Gain) On Money Market Fund
Share Options Granted Under ESOS Operating Profit Before Working Capital Changes
Decrease / (Increase) In Receivables Increase In Inventories
(Decrease) / Increase In Payables
Cash Generated From Operating Activities Interest Paid
Taxes Paid
Net Cash Generated From Operating Activities
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase Of Property, Plant & Equipment
Proceeds From Disposal Of Property, Plant & Equipment
Interest Received
Dividend Received From Associate
Net (Placement) / Withdrawal Of Investments In Money Market Fund
Net Cash (Used In) / Generated From Investing Activities
CASH FLOWS FROM FINANCING ACTIVITIES
Net Movement In Short Term Borrowings
Repayment Of Long Term Borrowings
Payment Of Lease Liabilities
Placement Of Restricted Cash Deposits In Licensed Bank
Net Cash Used In Financing Activities
NET DECREASE IN CASH AND CASH EQUIVALENTS CASH AND CASH EQUIVALENTS AS AT 1 JANUARY EFFECTS OF EXCHANGE RATE CHANGES
CASH AND CASH EQUIVALENTS AS AT 30 JUNE
Cash and Cash Equivalents comprise:
Deposits, Cash & Bank Balances Less: Restricted cash
135 1,923
169,507 118,191
(19,013) (30,223)
238,462 (33,965) (4,095)
200,402
(38,700) - 4,004 -
(144,648)
(179,344)
(76,050) - (2,664) (2,143)
(80,857)
(59,799) 168,279 8,092 116,572
190,419 (73,847)
116,572
(340) -
128,888 (23,859) (4,165)
6,614
107,478 (43,628) (809)
63,041
(42,756) 154 4,014 328 50,175
11,915
207,150 (299,253) (2,255) (23,707)
(118,065)
(43,109) 187,437
(78) 144,250
215,549 (71,299)
144,250

Posted by Victor Yong > 2020-11-11 14:06 | Report Abuse

Velesto Energy Berhad, previously known as UMW Oil & Gas Corp Bhd, is a multinational provider of drilling and oilfield services for the upstream sector of the oil and gas industry.

The company's line of products and services include drilling and workover services for exploration, development, and production of wells in Malaysia and southeast Asia through several offshore drilling rigs and hydraulic workover units.

Under the oilfield services segment, the company offers threading, inspection, and repair services for Oil Country Tubular Goods in various offshore markets.

Operating revenue is primarily derived from drilling services, which includes ownership and operation of several drilling rigs and hydraulic workover units, or HWUs. Rigs and HWUs are chartered through day-rate-based contracts.

Posted by Victor Yong > 2020-11-11 14:09 | Report Abuse

The company’s oilfield services operation in China should be recovering and becoming the jewel of the Group :)

Posted by Victor Yong > 2020-11-11 14:10 | Report Abuse

there might be a gleam of hope in China. Velesto Energy said its oilfield services operation there is seeing a gradual recovery in demand

Posted by Victor Yong > 2020-11-11 14:13 | Report Abuse

For remembrance b4 Velesto was spinned of from UMW Group.

The group has thus far invested more than RM200mil in O&G pipe manufacturing in China, mostly in merger and acquisition activities with local companies.

“Our investments in China are already giving us returns,” UMW Holdings chief executive officer Datuk Dr Abdul Halim Harun told StarBiz.

Posted by Victor Yong > 2020-11-11 14:16 | Report Abuse

Aset O&G velesto di China makin bermahal dan berhasil kini kot :)

Imagewww.mprc.gov.my › properties › u...
UMW OIL & GAS CORPORATION BHD | MPRC
In our oilfield service business, UMW-OG has presence in Malaysia, Thailand, China and Turkmenistan, where we offer ...
Imagewww.umw.com.my › umw-announc...
UMW announces proposal to list its oil & gas business ...
Under its oilfield services business, UMW-OG Group has operations in Malaysia, Thailand, China and Turkmenistan, ...
Imagewww.nst.com.my › 2019/01 › u...
UMW to conclude the complete exit from oil and gas sector
2 Jan 2019 — UMW to conclude the complete exit from oil and gas sector ... Materials Co Ltd, UMW China Ventures (L) Ltd and UMW Offshore .

Posted by Victor Yong > 2020-11-11 14:21 | Report Abuse

UMW announces proposal to list its oil & gas business
Shah Alam, 16 May 2013 – UMW Holdings Berhad (“UMWH” or Company”) announced today that it proposes to list its wholly-owned subsidiary, UMW Oil & Gas Corporation Berhad (“UMW-OG”), on the Main Market of Bursa Malaysia Securities Berhad (“Bursa Securities”).
In this regard, UMW-OG proposes to undertake the following:
an initial public offering (“IPO”) of up to 843,180,000 ordinary shares of RM0.50 each in UMW-OG (“UMW-OG Shares”), comprising an offer for sale of up to 231,380,000 UMW-OG Shares and a public issue of 611,800,000 new UMW-OG Shares to retail and institutional investors (“Proposed IPO”); and
the listing of and quotation for its entire enlarged issued and paid-up share capital of RM1,081,000,000 comprising 2,162,000,000 UMW-OG Shares on the Main Market of Bursa Securities (“Proposed Listing”).
The Company also intends to undertake an internal reorganisation which involves the transfer of the offshore drilling business and certain companies in the oilfield services division under UMWH and its subsidiaries (“UMWH Group”) to UMW-OG prior to the Proposed IPO and Proposed Listing. Accordingly, UMW-OG had on 14 May 2013 entered into sale and purchase agreements in relation to the internal reorganisation with UMWH Group.
Upon completion of the internal reorganisation, UMW-OG and its existing and proposed subsidiaries and proposed associated company (“UMW-OG Group”) will be principally involved in the upstream sector of the oil and gas industry, providing offshore drilling and oilfield services which includes engineering and maintenance services.
Under its drilling services business, UMW-OG Group provides offshore drilling and workover services with its fleet of four (4) offshore drilling rigs and four (4) hydraulic workover units (“HWUs”) that it operates in Malaysia and other parts of South East Asia. UMW-OG Group operates and jointly owns one (1) semi-submersible drilling rig, namely Naga 1, as well as wholly owns and operates three (3) premium jack-up drilling rigs, namely Naga 2, Naga 3 and Naga 4. UMW-OG Group is also a PETRONAS-licenced provider of HWU services and is the sole Malaysian-owned drilling contractor owning and operating HWUs. In addition, UMW-OG also acts as an agent in Malaysia for international companies providing specialised drilling equipment and services.
Under its oilfield services business, UMW-OG Group has operations in Malaysia, Thailand, China and Turkmenistan, providing oil country tubular goods (“OCTG”) threading, inspection and repair services focused on premium connections. In Malaysia, the UMW-OG Group provides these services at two plants located in Labuan. In Thailand, the UMW-OG Group provides premium threading, inspection and related workshop services at its plants in Songkhla and Sattahip. In China, UMW-OG Group offers similar services, as well as premium accessories threading, at its plant in Tianjin. In Turkmenistan, UMW-OG Group’s workshop in Turkmenbashy provides OCTG threading, inspection and repair services. The UMW-OG Group’s oilfield services business also offers engineering and maintenance services as a customised equipment packager and a total solution provider for power generators and other equipment used in the oil and gas market.
UMWH’s President and Group CEO, Datuk Syed Hisham bin Syed Wazir said, “The proposed listing of UMW-OG is a key strategic initiative by UMWH which is expected to accelerate the growth of the oil and gas business within the UMWH Group and enable UMWH to unlock and crystallise the value of its investment in the UMW-OG Group and enhance the shareholders’ value at UMWH level.” Additionally, the proceeds from the offer for sale will enable UMWH to reduce its existing borrowings thus further improving its capital structure and providing further flexibility for UMWH to raise funds for other strategic purposes such as earnings accretive acquisitions.
The Proposed Listing would also further enhance UMW-OG Group’s profile, increase its visibility as one of the leading oil and gas companies in Malaysia and enable a wider base of investors to participate in the future performance of the UMW-OG Group. The proceeds from the public issue will also provide UMW-OG with the financial resources to pursue growth opportunities.

Posted by Victor Yong > 2020-11-11 14:23 | Report Abuse

Harga ipo dulu :)


UMW Oil & Gas IPO Oversubscribed by 10.72 times
18 Oct 2013 — The Institutional Price was fixed at RM2.80 per Offer Share. Accordingly, the Final IPO Price for the Retail ..

Posted by Victor Yong > 2020-11-11 14:27 | Report Abuse

Kenangan sedikit



KUALA LUMPUR, 19 January 2017 - UMW Oil & Gas Corporation Berhad (“UMW-OG”) and Ekuiti Nasional Berhad (“Ekuinas”), through its investment vehicles, are pleased to announce that they have entered into two separate share purchase agreements (“SPAs”) to consolidate their oil & gas businesses under UMW-OG.

Under the SPAs executed between the parties, UMW-OG will acquire Ekuinas’ indirect stake of approximately 42.3% in Icon Offshore Berhad (“ICON”) for new UMW-OG shares, and 95.5% interest in Orkim Sdn Bhd (“Orkim”) for cash, respectively. ICON is the largest pure play owner and operator of offshore support vessels (“OSV”) in Malaysia, while Orkim is the owner and operator of the largest clean petroleum product (“CPP”) marine transportation vessels in the country.

Upon completion of the SPA relating to ICON, Ekuinas will emerge as an approximately 12.6% shareholder in UMW-OG, second only to Permodalan Nasional Berhad (“PNB”) and funds under its management (collectively, “PNB & Funds”), which is expected to hold a direct interest in UMW-OG of approximately 40% (following the proposed demerger of UMW-OG from UMW Holdings Berhad as announced earlier today). Following this, UMW-OG will undertake a mandatory take-over offer for all the remaining shares of ICON at a consideration of RM0.50 a share to be satisfied either via cash or issuance of new UMW-OG shares at RM0.80 a share. UMW-OG intends to secure full acceptance to reap the benefits of consolidation and does not intend to maintain the listing status of ICON.

The enlarged oil & gas businesses under UMW-OG will lead to the creation of a major integrated service provider across the oil & gas value chain, comprising 7 jack-up rigs, 1 semi-submersible rig, 5 hydraulic workover units (“HWU”), 37 OSVs, 14 CPP and 2 liquefied petroleum gas (“LPG”) marine transportation vessels, respectively. With the newly acquired fleet of assets across the value chain, the enlarged UMW-OG will be in a position to benefit from the expected recovery of activities in the sector through its interests in offshore drilling rigs, HWUs and OSVs, and improved earnings profile through Orkim’s long term contracted cash flows.

Upon completion of the consolidation exercise, UMW-OG will embark on a recapitalisation exercise via a rights issue of approximately RM1.8bn. To this end, Ekuinas has indicated its support for the recapitalisation plan, up to RM550mm, comprising its entitlement and application of excess rights shares (“Ekuinas Support”). UMW-OG intends to procure a similar support from its major shareholders, namely PNB & Funds. The Ekuinas Support, together with PNB & Funds’ entitlement after the UMW-OG demerger, would in aggregate amount to approximately RM1.3bn or more than 70% of the rights issue, if subscribed. UMW-OG will pursue underwriting arrangements for the remaining portion.

Commenting on the transaction, Rohaizad Darus, President of UMW-OG, said, “This exercise aims to create a major integrated offshore service provider with diversified earnings through exposure in the upstream and downstream segment of the oil & gas industry. The recapitalisation exercise would strengthen our balance sheet and enhance our competitiveness to ride on the expected recovery of the industry. The merger of the three companies is also timely in answering Petronas’ call for consolidation of Malaysian oil & gas industry.”

Syed Yasir Arafat Syed Abd Kadir, Chief Executive Officer of Ekuinas, said, “We are firm believers in the call for consolidation in the oil & gas sector, and are pleased with this transaction that aims to achieve just that. While the industry has gone through some rough patches in recent times, the outlook is improving, thus providing an opportune time for us to pursue the consolidation exercise. The transaction enables us to crystallise our investments and at the same time participate in and increase our commitment through injection of fresh capital via consolidation. This demonstrates our belief in the longer term prospects of the industry, and particularly, the new UMW-OG.”

The transaction is subject to various conditions, including but not limited to lenders’ consent and UMW-OG’s shareholders’ approval. Barring unforeseen circumstances, the transaction is expected to complete in Q3 2017.

On another note, UMW-OG has also announced the appointment of Dato’ Abdul Rahman Ahmad as its Deputy Chairman.

Posted by Victor Yong > 2020-11-11 14:28 | Report Abuse

Wait for another corporate exercise dengan sapura barangkali

Posted by sakthi > 2020-11-11 18:20 | Report Abuse

Rights issue made easier for companies to raise funds
KUALA LUMPUR (Nov 10): Companies are allowed to proceed with their proposed rights issue once the controlling shareholders are giving the irrevocable undertaking to subscribe for their full entitlement.
Companies could undertake the cash call even in the scenario that minority shareholders give it a cold shoulder.
Both the Securities Commission Malaysia (SC) and Bursa Malaysia have announced a temporary relief measure allowing eligible listed issuers to obtain mandated shareholder approval at a general meeting to undertake rights issue exercises.
"As a result of the pandemic and the Movement Control Order, many listed issuers are facing operational challenges, including raising working capital and repaying bank borrowings.
An expedited process for rights issues will enable eligible listed issuers to be more agile as they can raise funds from their existing securities holders in a shorter time frame to meet their capital and financial needs," said the regulators in a joint statement.
Under the expedited process, the regulators said eligible listed issuers, namely the public-listed companies and listed real estate investment trusts (REITs), will be granted greater flexibility to manage market uncertainties while making capital calls, and fast-track secondary fundraising, subject to certain safeguards.
For instance, the regulators said, the eligible listed issuers must have controlling shareholders who will provide an irrevocable undertaking to subscribe for their full entitlements, with not more than a 30% discount to the theoretical ex-rights price on these newly issued shares or units.
In other words, underwriters are not required to take up the unsubscribed portion of the rights issue, should minority shareholders decline to fork out more capital.
However, the rights issue exercises implemented with mandate obtained under the temporary relief measures are subjected to certain conditions. For instance, such rights issue must be a plain vanilla issuance where it can only be utilised for ordinary shares or units. This is not applicable to other types of securities such as warrants or convertible shares, according to the statement.
The statement said the temporary flexibility to allow expedited rights issue exercises by public-listed companies and listed REITs will be introduced through an enhanced rights issue framework.
The framework allows companies to issue new rights shares or units to their existing securities holders on a pro rata basis, up to 50% of the total number of issued shares or issued units, according to the joint statement.
This means that the shareholding dilution could not be more than 50% as a result of the rights issue to be undertaken under this enhanced framework.
The new general mandate for rights issue is in addition to the enhanced 20% general mandate for the issue of new securities, commonly utilised for private placements. Both relief measures are valid until Dec 31, 2021, said the statement.
The SC and Bursa Malaysia said they will continue to monitor evolving developments in the securities and financial markets which have been affected by domestic and global events, to evaluate and recalibrate measures to support an efficient and resilient market.

Posted by tkl88 > 2020-11-11 19:06 | Report Abuse

Oil price continue to spike up like mad !
As at 7.02pm,
Nymex=> $42.89 (+1.53) (+3.70 %)
Brent => $45.16 ‪(+1.55) (+3.55 %)‬

‪Huat ah ! Heng ah ! Ong ah !‬

Posted by Macgyver11 > 2020-11-11 20:04 | Report Abuse

Former deputy health minister Dr Lee Boon Chye said the halal concerns would be addressed by the health ministry, with advice from the National Fatwa Council.

“The ministry would first and foremost evaluate the vaccine in terms of efficacy and safety. It must be said in order to return to normal life, vaccines are the best way forward.”

Putrajaya had recently said it would make advance bookings for the vaccine through its participation in the Covid-19 Vaccine Global Access initiative, with an estimated cost of over RM3 billion.

Khairy, who is co-chair of the government’s vaccine supplies committee, said the allocation would be able to immunise 70% of the country’s population next year.

He had said vaccines would come as early as the first quarter of next year, with medical workers the priority to receive them.

As for the halal issue, Khairy had urged for more explanatory sessions for the people and assured that the vaccines would be vetted and approved by the Malaysian Islamic Development Department or Jakim.

Posted by KAQ4468 > 2020-11-11 23:20 | Report Abuse

Peewiittttt

Posted by KAQ4468 > 2020-11-11 23:20 | Report Abuse

Nice closing

Posted by KAQ4468 > 2020-11-11 23:20 | Report Abuse

Buy 10 cents

Sell 40 cents

Posted by KAQ4468 > 2020-11-11 23:20 | Report Abuse

Wakakakakayaaa

Posted by Valgrovest > 2020-11-12 13:43 | Report Abuse

https://oilprice.com/Energy/Crude-Oil/Oil-Funds-Could-See-Record-Gains-In-December.html

Can O&G be the next sector to spike?

Posted by wjc4195 > 2020-11-12 19:55 | Report Abuse

nope

Posted by greenberg > 2020-11-12 23:49 | Report Abuse

Tomorrow rising

Posted by Macgyver11 > 2020-11-13 22:07 | Report Abuse

Happy Deepavali and happy holiday all

Posted by KAQ4468 > 2020-11-14 00:34 | Report Abuse

Can O&G be the next sector to spike?


Of coz!!!

Posted by yingzhe17 > 2020-11-14 14:39 | Report Abuse

Dump this share before short selling resume