Posted by SuperPanda > 2021-03-25 08:28 | Report Abuse

2021 continue to be challenging .... so sad


"Due to the slow pace of recovery in global economy and the oil and gas industry, the Board is of the opinion that the financial performance for 2021 will continue to be challenging," Velesto said in a filing with Bursa Malaysia today.

Posted by SinGor > 2021-03-25 08:40 | Report Abuse

PNB always come out in great force to support....look at 0.170 / 0.175...Ikan Bilis cannot bring
this barrier easily

Posted by wan161 > 2021-03-25 08:52 | Report Abuse

in stock market, only newbies looks at the past results.. the past is past.. ;)

Posted by wan161 > 2021-03-25 08:54 | Report Abuse

in stock market , should look at 12 months forward.. prices tend to lead the actual economy in the range of six to 12 months.

Posted by damiantreez > 2021-03-25 08:54 | Report Abuse

oil bullish again! all in!

Posted by nono_hardi > 2021-03-25 09:05 | Report Abuse

oh bullish heh....hahahahahah

Posted by matg > 2021-03-25 09:07 | Report Abuse

adoi failed to collect low lol.. steady velesto

Posted by matg > 2021-03-25 09:13 | Report Abuse

someone remove his rubbish comment hahaha

Posted by Valgrovest > 2021-03-25 09:15 | Report Abuse

Managed to dispose all at 0.17 (at a loss of course). Also sold all my warrants earlier (with some gain). Waiting for prices to bottom out and stabilize before investing again.

Posted by Macgyver11 > 2021-03-25 09:20 | Report Abuse

Brent making progress now. Our local O&G counters rely on crude oil price. No matter how good is their qtr report or no matter how many contracts they get...bottom line is crude oil price.

Posted by Macgyver11 > 2021-03-25 09:34 | Report Abuse

I do agreed there's always a knee jerk reaction, selling in fear happen. Let see either Velesto well support and can absorb the selling pressure or not for today.

Posted by nono_hardi > 2021-03-25 09:37 | Report Abuse

@Macgyver11, 10 cents stock will not have much fluctuation, +- 2 prices is serious enuf

Posted by Macgyver11 > 2021-03-25 09:43 | Report Abuse

Ya kah..maybe you buying during the price hike. Bro this is call stock market.

Posted by amirsyam1001 > 2021-03-25 10:30 | Report Abuse

https://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=213558&name=EA_FR_ATTACHMENTS

Financial Year Ended 31 December 2020

Posted by Lewis Lee > 2021-03-25 12:38 | Report Abuse

This company is really P K M liao !!!!!!

Posted by Lewis Lee > 2021-03-25 12:41 | Report Abuse

This company too heavily relies on Petronas !
If Petronas tak mahu cari gali , Velesto's result will be bungkus-ing !!!!!!!
Not like Armada, Sapura, KNM etc... venture overseas to win contract lah !!!

Posted by Lewis Lee > 2021-03-25 12:44 | Report Abuse

this lousy GLC-running company can be another MAS in the making !!!
Loss so many years one day go private by offering 5 cent by PNB !!!
PKM punya company !!!!!

Posted by Lewis Lee > 2021-03-25 12:57 | Report Abuse

The reason for thsi company is :-

"Due to the (+ the lousy managment by the imcompetent Board & CEO), the Board is of the opinion that the financial performance for 2021 will continue to be challenging,"

Other oil & gas companies can report profit, where can't you ??? because of your lousy management !
Resign and balik kampung lah !!! Let a capable CEO to take over !!
LEt's go to the AGM and voice out this lousy CEO !!!!

Posted by Allantanks > 2021-03-25 14:08 | Report Abuse

This ceo face does not look like a clever one. He waits for contract drop into his hands nia.

Posted by SinGor > 2021-03-25 15:37 | Report Abuse

Lewis Lee this lousy GLC-running company can be another MAS in the making !!!

Blowing Off Steam Here after loosing a lot of Money playing Contra Here

Posted by Flybythenite > 2021-03-25 15:49 | Report Abuse

Aiya, just invest lah, run here run there for 1-2 sen for what! Traders remember declare profit to IRB, you are under the radar now! I’m not joking.

Posted by SinGor > 2021-03-25 16:01 | Report Abuse

how did trading profit has taxes??? Something New...LGE didnT tax Share Trading & Muh didT
said anything

Posted by SinGor > 2021-03-25 16:03 | Report Abuse

Unless you are remisier Or any registered Co.

Posted by Macgyver11 > 2021-03-25 16:27 | Report Abuse

All the while I thought stock market income exemption from tax...are you sure?

Posted by SinGor > 2021-03-25 16:46 | Report Abuse

I just asked Datuk just now....Flybythenite just talk...know nothing

Posted by SinGor > 2021-03-25 16:47 | Report Abuse

DonT worry "No income Tax" and No Dividend Tax ( 1st Tier )

Posted by Macgyver11 > 2021-03-25 18:34 | Report Abuse

Not bad ha, open 0.17c and closed 0.17c...highest 0.175c after all with this impairment losses.

Posted by Valgrovest > 2021-03-26 00:05 | Report Abuse

Brent dropped almost 5 % today to USD61.54. Wont be surprise to see some correction on O&G counters tomorrow (also Friday).

Posted by amirsyam1001 > 2021-03-26 00:09 | Report Abuse

Crude Oil what actually happened to you.

Posted by obakh222 > 2021-03-26 08:36 | Report Abuse

Correction? means price dropped more?

Posted by IronShirt > 2021-03-26 09:19 | Report Abuse

Who has a Big arm, PNB or Ikan Bilis? Pocket change to PNB to absorb 200mil sold by Ikan Bilis

Posted by JuliusCeasar > 2021-03-26 10:50 | Report Abuse

1st April OPEC+ MEETING.... Could rebound before and after 2nd April together with the drop of USD CURRENCY....

Posted by Mabel > 2021-03-26 13:46 | Report Abuse

To 20 with loves

Meow Meow Meow

Posted by obakh222 > 2021-03-26 14:20 | Report Abuse

Waa... 0.170 oso wanna sell?

Posted by driller71 > 2021-03-26 14:52 | Report Abuse

Surprised.... thought with the bad Q4 the price will drop like a rock.... still maintaining 0.17

Posted by bullmarket1628 > 2021-03-26 15:17 | Report Abuse

Wow, oil price was super bullish !
Brent now at $62.99 ‪+1.04 +1.68%‬

Posted by Lewis Lee > 2021-03-26 15:50 | Report Abuse

Bursa's new norm :-
Quarterly result record profit , share price DOWN, (most gloves counters)
Quarterly result huge loss, share price UP !!

Posted by SinGor > 2021-03-26 16:15 | Report Abuse

after you make wrong predictions....quickly reverse it.....sure Hit jackpot...and declared
winner immediately

Posted by nava_87 > 2021-03-26 18:00 | Report Abuse

new contract

Posted by nava_87 > 2021-03-26 18:00 | Report Abuse

again!!!

Posted by Macgyver11 > 2021-03-26 18:07 | Report Abuse

Ya ke..klu satu lagi contract monday sure towards 20 with loves...kikiki.

Posted by Macgyver11 > 2021-03-26 18:13 | Report Abuse

Another contract...to 20 with loves

Posted by Macgyver11 > 2021-03-26 18:16 | Report Abuse

The Contract is for a jack-up rig named NAGA 7 with an estimated contract value of USD8 million

Posted by Macgyver11 > 2021-03-26 18:19 | Report Abuse

USD 8mil is about RM 33mil..if I'm not wrong..

Posted by JJchan > 2021-03-26 18:20 | Report Abuse

I think there is another 2--3 contracts announcement coming / soon in April

Posted by Jjkcl > 2021-03-26 18:20 | Report Abuse

Naga 7 from conoco, more to come

Posted by Macgyver11 > 2021-03-26 18:22 | Report Abuse

AWARD OF CONTRACT FOR THE PROVISION OF A JACK UP DRILLING UNIT FOR CONOCOPHILLIPS SARAWAK LIMITED AND CONOCOPHILLIPS SARAWAK OIL LIMITED

Posted by Macgyver11 > 2021-03-26 18:26 | Report Abuse

It is clear now most unlikely those waiting to collect at 15c below....maybe cannot.

Posted by Jjkcl > 2021-03-26 18:53 | Report Abuse

Houthi rebels launch attacks on Saudi oil facilities
37 minutes ago

Posted by moneycome123456 > 2021-03-26 19:45 | Report Abuse

KUALA LUMPUR (March 26): Velesto Energy Bhd has secured a US$8 million (RM33.17 million) contract from ConocoPhilips Sarawak Ltd and ConocoPhilips Sarawak Oil Ltd for the provision of jack-up drilling services.

The group said the project, named NAGA 7, entails the drilling of up to three wells, with work tentatively scheduled to start in the first half of 2021.

“NAGA 7 is a premium independent-leg cantilever jack-up rig that has a drilling depth capability of 30,000 feet and has a rated operating water depth of 375 feet,” Velesto said in a filing with Bursa Malaysia.

Barring any unforeseen circumstances, the group said the contract is expected to contribute positively to its earnings and net assets during the financial period ending Dec 31, 2021.

Shares of Velesto ended five sen or 2.94% higher at 17.5 sen, valuing the oil and gas company at RM1.44 billion.