Posted by Huangbk72 > 2024-02-26 13:40 | Report Abuse

Hahaha... Proven me wrong in what aspect?

I said SapuraOmv will never be 100% foreign owned unless they want business from Petronas

U come out with PTEPP and Shell example. Its totally different. They are incorporated with 100% foreign ownership and got business from Petronas.

SAPURAOMV case is not from the start now. They need approval from Petronas. So far so bad...

If you fail to see this comparison, you are not worthy of promoting O&G stocks. Totally absurd using 1 size fits all theory

Posted by Felix888999 > 2024-02-26 16:39 |

Post removed.Why?

Posted by Huangbk72 > 2024-02-26 16:45 | Report Abuse

Again Auntie Felicia show part of conversation.

My point is SapuraOmv cannot be 100% owned in Malaysia if they want Petronas business.

Talking to a tree like you.. really need to elaborate on everything 😂😂😂😂

Come back when SAP stake is sold.. pointless to argue

Posted by Felix888999 > 2024-02-26 16:54 |

Post removed.Why?

Posted by Huangbk72 > 2024-02-26 17:02 | Report Abuse

Hahhaa.. Auntie Felicia

Read my earlier post slowly.. Then u get enlightenment. 😂😂😂

Posted by Huangbk72 > 3 hours ago | Report Abuse

Hahaha... Proven me wrong in what aspect?

I said SapuraOmv will never be 100% foreign owned unless they want business from Petronas

U come out with PTEPP and Shell example. Its totally different. They are incorporated with 100% foreign ownership and got business from Petronas.

SAPURAOMV case is not from the start now. They need approval from Petronas. So far so bad...

If you fail to see this comparison, you are not worthy of promoting O&G stocks. Totally absurd using 1 size fits all theory

Posted by Felix888999 > 2024-02-26 17:11 |

Post removed.Why?

Posted by Huangbk72 > 2024-02-26 17:15 | Report Abuse

Auntie Felicia... Look up all the conversations. Dont blame me when you poor in English.

Dont even understand how SapuraOmv came into existence.

Hint.. Look at 2012 PSC
Then look at 2018

Like I say.. no need to argue., since u dont understand.

Wait till Sapura stake in SapuraOmv is sold to a foreign entity.

Again. I repeat my stand.. Not possible.

Posted by Felix888999 > 2024-02-26 17:28 |

Post removed.Why?

Posted by Huangbk72 > 2024-02-26 17:34 | Report Abuse

Hahaha.. Auntie Felicia

Did you look at my hints year 2012 and 2018?

Dont be a blabbermouth.. Will be very ugly when you are proven wrong again 😂😂😂

Posted by Felix888999 > 2024-02-26 17:37 |

Post removed.Why?

Posted by SinGor > 2024-02-26 17:57 | Report Abuse

New Agong will NOT allow any politicans to "Change" Anwar administration ( wait for next Election )---This
will boost Economy and Stock Market ( no political disruption for next 4 years )----See MalaysiaKini

Posted by RJ87 > 2024-02-27 12:19 | Report Abuse

Can both of you please take ur tin kosong argument out?

Get a room of your own if you wanna compare who has bigger d*ck. No one else here interested.

Posted by Huangbk72 > 2024-02-27 12:39 | Report Abuse

Already stated

Posted by Huangbk72 > 1 day ago | Report Abuse

To all readers of Velesto

This is a reminder that its not me that started clogging up this thread with non-Velesto information. Its that Auntie Felicia.

I stand by my assessment that SapuraOmv cannot be 100% foreign owned if they want to continue business with Petronas

Auntie Felicia keeps throwing out hypothetical theories and examples of ownership of others.

Strategic oil & gas needs Petronas approval and after 1 year, Sapura stake in SapuraOmv remains unsold. TotalEnergies has the money to buy 100% straight up.. There isnt even a commitment from TotalEnergies.

Auntie Felicia as usual, will talk until the cows comes home, but reality is different.

Posted by Felix888999 > 2024-02-27 12:56 |

Post removed.Why?

Posted by RJ87 > 2024-02-27 13:42 | Report Abuse

Ever thought so what if either of you is right? Is gonna make any of u or us very rich?

Posted by RJ87 > 2024-02-27 13:43 | Report Abuse

i think i’m abit concern with this QR, I have sold all my position at 27sen. Cos, if profit is not pretty again.
I don’t think PNB fund manager will support. It will let it drop like last round be pushing it back up.

To support at a bad QR is very costly. Better let it selldown before pushing back up with volume softens.

Posted by specializedvenge > 2024-02-27 18:23 | Report Abuse

Omg.... Highest profit since 2014

Posted by SinGor > 2024-02-27 18:23 | Report Abuse

66mil profit and 0.25sen dividend ----My prediction is close---70mil profit Q4 bcos last Qr Velesto paid off
Short term loan( almost 70m )

Posted by Felix888 > 2024-02-27 18:29 | Report Abuse

Wow wow wow Velesto paying dividend first time in one decade!! Small amount but is a good start!

Highest revenue and profit in 10 year.

Congratulations to all Velesto investors!

Posted by Lewis Lee > 2024-02-27 18:34 | Report Abuse

Tomorrow limit Up !! Hopefully ! 🤣

Posted by Felix888 > 2024-02-27 18:38 | Report Abuse

This year paid off loan 225 million!
Cash flow generated from operation 383 million.

Finally this is the best ever result since I bought Velesto. 😭😭😭

Posted by Lewis Lee > 2024-02-27 18:39 | Report Abuse

Qr profit EPS = 0.81 , annualized- 3.24 cts , PER 10 - fair price 32 cts ; PER 15 - fair price 48 cts !
Tomorrow all fart king stool pick analysts are going to UP TP from 30ct to 50ct Liao !! Huat ah !!

Posted by SinGor > 2024-02-27 18:39 | Report Abuse

Day Rate for this Qr is $99 / hr----Negotiated with Petronas is $130 for 2024. So 2024 Revenue will bounce
up by 30% ( very Good but still hoping Higher )

Posted by Felix888 > 2024-02-27 18:42 | Report Abuse

If oil stay above USD 75 and above is good sweet spot for Velesto. Continue enjoying the high daily rate. USD 130K per day is damn good already, the return is better than thus high risk high capital FPSO.

Posted by Balian de Ibelin > 2024-02-27 18:44 | Report Abuse

Dayrate for 99 for 1 shift is way better than 130 for 2 shift or even 3 shift
drill depth etc, many other factors unless you see agreement.

outsiders always at mercy of insider info

Posted by Felix888 > 2024-02-27 18:50 | Report Abuse

Long time no new project announcement. Is about time to announce some. PNB can't wait to lock some profits. Me too 🤣🤣🤣🤣🤣

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2024-02-27 18:54 | Report Abuse

Dividend declared. Turnaround stock.

Posted by Felix888 > 2024-02-27 18:56 | Report Abuse

Thank you for your comment here!

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 1 minute ago | Report Abuse

Dividend declared. Turnaround stock

Posted by RJ87 > 2024-02-27 19:25 | Report Abuse

Singor the best

Posted by Felix888 > 2024-02-27 19:29 | Report Abuse

This round could be the real turnaround. As long as the day rate still at the high end, it is save to keep this stock.

I queue sell one batch at 0.295 just to lock some profit.


Posted by RJ87 > 1 minute ago | Report Abuse

Singor the best

Posted by Felix888 > 2024-02-27 19:42 | Report Abuse

VELESTO集团Q4转亏为盈 全年亏转盈劲赚9952万令吉

VELESTO集团（VELESTO 5243）第四季转亏为盈，净赚6668万令吉，比较上年同季净亏损2600万令吉。

第四季盈利支撑下，VELESTO集团2023年全年也转亏为盈，由前期净亏1亿402万令吉，转为净赚9952万令吉。

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2024-02-27 19:49 | Report Abuse

Current Prospect
Drilling Services Segment
Integrated Project Management Segment
Oilfield Services Segment Group

The positive outlook in the global oil and gas industry augurs well for the Group's financial performance. Barring any unforeseen circumstances, the Group is optimistic that the financial performance for the financial year 2024 will be as promising as 2023. The group’s utilisation is expected to remain high in 2024, with some rigs contracted up to 2026.
Geopolitical risk that may result in uncertainty to oil supply and markets remains high. The oil and gas outlook fundamentals remain strong. The benchmark Brent oil price has remained around USD80 per barrel in recent months due to both improving economic prospects as well as lower inflation.
Currently, all six of the Group's jack-up drilling rigs are contracted. The Group is actively bidding for new tenders for local and international contracts scheduled to be performed in 2025 and beyond.
The i-RDC project is progressing and GAIT 6 is currently contracted with ExxonMobil. The Group is participating in tendering activities for 2024 and 2025.
Global competition for assets such as jack-up rigs remain heightened. Jack-up marketed utilisation in Southeast Asia and Malaysia remained at 100% and charter rates for the latest fixtures continues to be on an uptrend.
The improved industry outlook is expected to support stable performance of the oilfield services operation in China. Nevertheless, global and regional upstream oil and gas activities including in Southeast Asia continue its upward trend, with more exploration and development projects being evaluated, re-visited and sanctioned.
Major oil producers continue to increase their CAPEX in response to prolonged lack of investment in the past. In Southeast Asia, particularly Malaysia, a number of new contracts have been awarded with more being tendered out.
The International Monetary Fund ("IMF") increased its projected global Gross Domestic Product ("GDP") growth rate for 2024 from 2.9% to 3.1%. U.S. Energy Information Administration ("EIA") is forecasting for global oil demand to increase by 1.4 million barrels per day to 102.4 million barrels per day in 2024.
On the supply side, OPEC+ and Saudi Arabia have increased their production cuts, offset by increasing supply from non-OPEC countries. As such, inventory changes and oil markets are expected to remain balanced.

Posted by Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥ > 2024-02-27 19:58 | Report Abuse

Performance of Current Year Against the Financial Year Ended 31 December 2022 (“corresponding period”) (cont'd.)

Analysis of segmental performance against the corresponding year are as follows:

Drilling Services Segment
Drilling Services segment recorded RM316.4 million increase in revenue to RM799.5 million in the current year, mainly due to higher jack-up rig utilisation of 83% (corresponding year: 62%) and higher average daily charter rates of USD94k/day (corresponding year: USD77k/day).

The segment registered a profit before tax of RM159.8 million compared to a loss before tax of RM26.1 million in the corresponding year, in line with higher revenue.

Integrated Project Management
The Integrated Project Management segment recorded higher revenue of RM401.8 million in the current year as compared to RM86.7 million in the corresponding year, mainly due to higher utilisation of hydraulic workover units and progress of i-RDC project.

The segment recorded a profit before tax of RM22.5 million compared to a loss before tax of RM16.0 million in the corresponding year, in line with higher revenue.

Oilfield Services Segment
The Oilfield Services segment recorded higher revenue of RM12.0 million in the current year as compared to RM10.1 million in the corresponding year, mainly due to higher activities from operation in Tianjin.

The segment recorded profit before tax of RM3.0 million in the current year with marginal increase against corresponding year.

Others Segment (include corporate expenses)
Others segment which include corporate expenses recorded higher loss before tax of RM64.0 million in the current year against RM42.4 million loss in the corresponding year mainly due to higher IT related expenses, depreciation charge and other corporate costs.

Posted by Macgyver111 > 2024-02-27 20:23 | Report Abuse

The last I saw velesto declared such a profit in 2014 (in 2019 ok2 je). Good start in 2024 with higher DCR..

Posted by Macgyver111 > 2024-02-27 20:27 | Report Abuse

After 10 years another huge profit.

Posted by Felix888 > 2024-02-27 21:25 | Report Abuse

QoQ profit up 5500%✌✌✌✌

Posted by serpent100 > 2024-02-27 22:01 | Report Abuse

When u think tomorrow will up …but after 10am will drop back…

Posted by RJ87 > 2024-02-27 22:18 | Report Abuse

set crazy high sell queue, match buy back lower. Target 5-10% per trade

Posted by RJ87 > 2024-02-27 22:23 | Report Abuse

i enter 500K shares at 21sen, tp at 27 and only left 50K shares. Can’t stand the head of QR bomb.
Now switch strategy sell before QR and buy back if good. Probability of bursa de casino to drop regardless of good or bad QR is just too high.

Like perdana not bad, still drop anyway. Another 600K share avg 0.213 tp all 0.265 sen. Sure drop anyway.

Posted by Felix888 > 2024-02-27 22:58 | Report Abuse

Velesto posts first dividend since FY14 on record 4Q earning!

KUALA LUMPUR (Feb 20): Oil rig operator Velesto Energy Bhd has announced a dividend per share of 0.25 sen, on the back of record quarterly profit and revenue in the fourth quarter ended Dec 31, 2023 (4QFY2023).

The dividend, amounting to RM20.54 million, is its first since FY2014 when it paid one sen per share, and only its second since listing.

The dividends signalled improved prospects for Velesto and the upstream oil and gas industry in general.

“In Southeast Asia, particularly Malaysia, a number of new contracts have been awarded with more being tendered out,” Velesto said in its filing.

Net profit in 4QFY2023 amounted to RM66.68 million, compared to net loss of RM26 million a year ago, thanks to higher work progress, higher asset utilisation and higher charter rates.

Quarterly earnings per share came in at 0.81 sen per share, from loss per share of 0.32 sen in 4QFY2022.

Revenue came in 47.6% higher year-on-year to RM358.89 million, from RM243.07 million, its filing showed.

In the quarter, Velesto also benefitted from the absence of a one-off RM11.7 million costs incurred a year ago, due to changes to work programme and prolonged wait on weather periods during the demobilisation.

For FY2023, Velesto Energy turned around from a net loss of RM100.4 million or 1.22 sen loss per share in FY2022 to a net profit of RM99.53 million or 1.21 sen per share in FY2023.

Full year revenue also more than doubled to a record RM1.21 billion, from RM580.85 million in the same period last year.

The group attributed the improved performance to higher jack-up rig utilisation of 83% (FY2022: 62%) and higher average daily charter rates of US$94,000(RM449.085)/day (FY2022: US$77,000/day) for its drilling services segment, as well as higher utilisation of hydraulic workover units and progress of i-RDC project for its integrated project management segment.

Looking ahead, Velesto Energy sees the utilisation rate of its six rigs to remain high in 2024, with some rigs contracted up to 2026.

The group is actively bidding for new tenders for local and international contracts scheduled to be performed in 2025 and beyond.

Its oilfield services segment, which mainly operates in China, is also expected to improve as the industry outlook supports stable performance.

Velesto Energy’s shares closed one sen or 3.64% lower at 26.5 sen on Tuesday, translating into a market capitalisation of RM2.18 billion. The counter is up 15% this year.

Posted by sgrs33 > 2024-02-27 23:45 | Report Abuse

anybody can give rough assumption how much velesto share is worth after this annoncement?

Posted by mike767879 > 2024-02-28 06:15 | Report Abuse

Queue higher to buy at TOP price by this very early morning.

Posted by SinGor > 2024-02-28 09:00 | Report Abuse

I think there is one Hydraulic workover unit Not having any job in 4Q---But 1Q25 ( or later ) we must include
revenue from this unit ---Together with higher DayRate, i believe 1Q24 net profit could breached RM100mil
net profit

Posted by Felix888999 > 2024-02-28 09:05 | Report Abuse

Sold 1 batch 0.295 which I queued before CNY.

Belated Ang Pow!

Posted by Felix888999 > 2024-02-28 09:06 | Report Abuse

Wow break 0.30 finally!!

Posted by Felix888999 > 2024-02-28 09:07 | Report Abuse

Maybank TP 0.35

Posted by Lewis Lee > 2024-02-28 09:12 | Report Abuse

TP will be raised to 0.40 soon !!

Posted by Lewis Lee > 2024-02-28 09:13 | Report Abuse

TP will be raised to 0.40 soon !!

Posted by Xcalibre > 2024-02-28 09:13 | Report Abuse

Go go go… medium term TP rm0.5

Posted by RJ87 > 2024-02-28 09:16 | Report Abuse

big boys come to support at 30sen