last time/old timer time 1 lot - 1000 shares current 1 lot - 100 shares
So u 800,000 shares either 800 big lots or 8000 small lots.
Anyway, like singor said, it’s pointless to tell anyone how much u have unless u just to brag. Later singor come say I hold 2000-3000 big lots also haven’t make noise. Ur 800 big lots already holler here and there. ——————————————— Gentingbig what bragging are you calling out at ??? i cut my losses at breakeven . i brought 800000 untis which is only equivalent to 80 lots right .
Either Tomolo Or Friday Results Out----my guess is 5--15% Higher than Last Qr......But real Deal is 2 Qr results due August ( much higher DayRate ) So I said Trading Volume will be much higher bcos Institution Buyers will Lock-in after this Qr result and Sell next Qr ( you will see massive promotion by Banks )
Interesting ---Perdana Hit 40cents----Although Velesto NOSH is 8 bil But many, many Real investor are trapped above RM1.0 bcos previous goreng was RM4.0
If we always talk about past events, better not doing anything. why not mention topglove at the prime time almost RM30? it's better for them to close their business? As an investor, dont trapped in cognitive dissonance bias, look at the improved quarter results.
KUALA LUMPUR (May 23): Velesto Energy Bhd's (KL:VELESTO) first quarter net profit more than tripled year-on-year, driven by higher utilisation and average daily charter rates for jack-up rigs.
Net profit for the quarter ended March 31, 2024 (1QFY2024) rose to RM46.81 million or 0.57 sen per share, from RM14.22 million or 0.17 sen per share a year ago, according to the offshore drilling rigs and oilfield services provider.
The group, which is 41.7%-controlled by Permodalan Nasional Bhd, said revenue grew 18% to RM338.58 million from RM287.25 million in 1QFY2023.
“We expect overall global utilisation of jack-up rigs to remain strong for 2024/2025. However, the jack-up drilling rig market may experience uncertainty. The group is monitoring the current situation in the Middle East for its future bidding strategy, especially for mid-2026 onwards,” Velesto said in a stock exchange filing.
The group said its utilisation is expected to remain high in 2024, with all six of its jack-up drilling rigs contracted.
Three of Velesto’s jack-up rigs — NAGA 2, NAGA 4, and NAGA 6 — have been contracted until 1QFY2026, and NAGA 8 up to 4QFY2025. Meanwhile, NAGA 3 is contracted up to 4QFY2024 (inclusive of options) and NAGA 5 up to 3QFY2024.
“The group is actively bidding for new tenders for local and international contracts for activities to be performed in 2024, and up to 2026 and beyond,” it said.
“At least three of our rigs, namely NAGA 2, NAGA 5 and NAGA 6, are expected to commence their five-yearly Special Periodical Survey in 2QFY2024, 3QFY2024 and 4QFY2024 respectively,” it added.
Velesto said 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 (capital expenditure) 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,” it said.
Shares of Velesto closed half a sen or 1.7% to 29.5 sen on Thursday, giving the group a market capitalisation of RM2.42 billion. The stock has climbed 29% year-to-date.
I can only afford Bak Kut Tay tonight----Result---not full not hungry ( cukup makan only Investment wise, PNB should be please---Expect about 200++mil per year ( next 2years ) One billion injection, Return in 4 years excluding Covid period
Hahaha..as usual sindiket will off-load ( including some foreign IB)... or they might not. Sometimes this medium sharks bet on qtr to take quick profit. Good news is last profit and recently announced qtr profit, consider the highest profit since 2018...since PNB took over Velesto. This might give good coverage from press/IB.
Honestly when those shark which happen to be foreign start collecting velesto its at .27cents so i jump in at .275 . i held it from 16th april till 17th may. i simply cannot wait anymore as everyday also got tips. i just dont understand volume traded so high everyday yet the price just stuck in the rug without any movement until today only!!
i get rid of it all at almost break even .275 to .28 as i decide to cut my losses. tomorrow i will load some to recover my losses hoping it wont let me down again
Triple revenue is great news!! Likely will still have a few more good quarters due to rigs being contracted till 2024. Unless we have another pandemic, oil prices should be relatively stable for a while. Traveling + inflation should help price to remain 70-80 range. Any war news from Middle East can trigger oil to go up. Malaysia is blessed to be in a conflict free region too. I will TP some today and hold some to invest long term. It helps to have a lower average + company have dividend now.
I await to hear news on 2025-2026 rig contracts before I decide to sell. I hope everyone that invest in this company will have a good day today!
Deym, i should have add more into this instead of spread capital in gloves yesterday. hopefully can get 0.30 cent or below today. already topup some peanut capital, this one is to be hold in years.
Now cannot sell all. Must hold on for long term on the triple profit news for only 1 quarter. That quarter rigs are still not fully utilised and some at previously low fee contracted job. Imagine income for coming quarters until next year 2026 when rigs are now fully mobilised at new handsome rate!!! Don't be buta!!! Ini kali lah if mahu tibai this kaunter. 40 sen is no brainer. This should shoot up above 1 ringgit very very soon. Let us wait the analysts keep upgrading the target price going forward very very soon.
Genting ig, you play Velesto like gambling la. Only short short position. Nanti lu kayap but broking house yang kaya. Not too short la if counter got foundation story.
Broking house kaya? not with brokerage fees already as low as rm1. alas, i am not that big fan that kind like limit up all the ways, limit up is just a bonus, not everyone got it, got that? haha... but i am happily bought at below 0.30 cent, not all in, but with still within my limit, within my suitable position sizing...with the one i bought earlier, my average is still below 0.28.
high volume but no movement, classic velesto price action. those who invest this counter long enough are numb to this already. i thought that it will limit up.. but i am patiently waiting for shark to show up somehow.
Actually Jack-Up rigs earns More money than last Qr----77mil But i cannot estimate Velesto corporate Cost which management are recognising......And i am using a average of $120 Day Rate ( Management used $107----Next Qr i am using $135 Day Rate----if Management is NOT recognising other Corp cost then Next Qr Net Profit is Huge compare this Qr ( 77mil )
You should Not feel afraid that QoQ is down 30%---actually this Qr is better than last Qr BUT management used 30mil from profit to pay others management expenses----Just like 3Q23, net profit is 1.2m, I am very surprised but further check indicate management used 70m to pay off Short term Loan. If I can find All the "missing money"-----be 100% sure Bankers saw it. This will be a Good Betting Qr, next Qr is hard to say ( I think Big Boys will sell to lock in profit )
SinGor this quarter Integrated Project Management (drilling I-RDC) recorded negative 35 million revenue and last year same period also recorded the negative 32 million.
What does this mean? Negative revenue because the service outsourced to 3rd party?
SinGor you check the segment breakdown of Integrated Project Management under drilling I-RDC. This division revenue is negative 35 million and also recorded lost of 12 million.
to me velesto is a jinx counter, everytime i buy i have to cut my loses. last friday again i jump in and again the price went down its really not for me. in and out 3 times already and yet cannot make money from this counter
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Macgyver111
424 posts
Posted by Macgyver111 > 2024-05-21 15:14 | Report Abuse
Excellent qtr coming. Get ready..