Posted by Andrew62 > 2017-07-29 09:35 | Report Abuse

Tan Sri is a corporate turn around genius.Only not happy with UMW. They should change the name of this counter.

Posted by snwong13 > 2017-07-29 10:39 | Report Abuse

.
https://www.cnbc.com/2017/07/27/oil-climbs-for-sixth-day-near-8-week-highs-on-us-crude-stock-declines.html

Posted by YouBuyIBuy > 2017-07-30 13:10 | Report Abuse

Oil price keep going up, why this counter still no up yet? Accumulating ?

Posted by KingLucy > 2017-07-30 21:48 | Report Abuse

Investors are still cautious about Oil and gas stocks...

Posted by umashankarj > 2017-07-30 22:05 | Report Abuse

Why this counter isn't going up? That's because the business of this counter is not directly correlated with oil price. UMWOG major business is providing drilling services. So whether the oil price go up or down does not matter, what matters is whether Oilfield Operators (i.e. Petronas, Total, etc.) contracts UMWOG for rig utilization.

Let's say, if oil price shoots to $140 tomorrow, this counter will still take time to go up.
If this company secures long-term high-value contracts for all 7 jackup rigs tomorrow, then this counter will shoot up.

Please, always understand the business nature of a company before you invest. Don't be a blind fool.

Posted by YouBuyIBuy > 2017-07-31 00:12 | Report Abuse

Thanks umash for the detail explanation , some of us are beginner and still learning, it does help us if everyone so nice as you to enlighten us

Posted by umashankarj > 2017-07-31 03:29 | Report Abuse

No problem, we learn from others and share what we know. Currently UMWOG has all 7 rigs chartered but day rates are incredibly low. Do not be surprised if the upcoming quarterly financial results are in the negatives again.

Posted by investor12345 > 2017-07-31 10:08 | Report Abuse

I think most analysts are expecting UMWOG to be recording losses until next year. So can safely say this year will not be recording profits yet. Any significant profits may only emerge post 2018

Posted by Abe Long > 2017-07-31 10:43 | Report Abuse

more jerung come in...stanby

Posted by Abe Long > 2017-07-31 10:59 | Report Abuse

what going next

Posted by investor12345 > 2017-07-31 12:21 | Report Abuse

For now, I think we're waiting for the quartely result to see to what extend losses can be minimised and the latest plan for RI

Posted by hewusana > 2017-07-31 15:06 | Report Abuse

Not the right issue?

Posted by investor12345 > 2017-07-31 15:13 | Report Abuse

Ya RI is the abbreviation for rights issuance

Posted by oasischeah > 2017-07-31 15:29 | Report Abuse

It's better to cut off now than to wait for rights issue. You will subscribe to feed the shark directors only.It will gradually drop in price and end.

Posted by investor12345 > 2017-08-01 09:47 | Report Abuse

If the price stays at this level, the rights issue will not be attractive enough for many investors. Ya they'll offer sweeteners like free attached warrants, but normally investors subscribe rights issue at a discounted market price

Posted by zzzzz > 2017-08-01 11:57 | Report Abuse

Oh no... below RM0.30...... Holland one way ticket

Posted by davidvestor > 2017-08-01 14:46 | Report Abuse

goring coming soon ?

Posted by hewusana > 2017-08-01 17:05 | Report Abuse

Oh..below ri price..

Posted by 2016v > 2017-08-01 17:07 | Report Abuse

epf and kwap also cant support the price

Posted by zzzzz > 2017-08-02 08:02 | Report Abuse

They dont even have $$ to serve 1MDB interest.. too busy to rescue UMWO&G

Posted by Fortune888 > 2017-08-02 10:14 | Report Abuse

This phenomenon is happening all around the world. Soon price war ll be end .

Posted by offshore > 2017-08-02 14:50 | Report Abuse

Uma, if company is still in loss position with 7 rigs chartered out, there will be another round of impairment end of this year. Looks like 30 sen is still not cheap enough to enter into this counter assuming this impairment has not been factored into the current price.

Posted by umashankarj > 2017-08-02 21:46 | Report Abuse

Offshore,
Don't take my words for it, but that is a possibility. Judging by how most of the existing contracts do not actually favor the company financially, a lot of additional and hidden costs are incurred upon UMWOG. Business development and contracts team were not diligent and blindly accepted contracts for the sake of having one.
Think about it, you have a rig, client requests for additional equipment apart from the original rig package, but rig owner is to bear all additional costing and charges. With the agreed dayrate, some rigs are still probably paying off for these additional equipment and not making profit yet. Rig equipment are not cheap.

But of course, it is still better than stacking the rigs.

Posted by umashankarj > 2017-08-02 21:54 | Report Abuse

Despite all the negativity, I doubt this company will go under with the support from PNB.
If you can buy and hold for a year or two from now, go for it.

Posted by araj87 > 2017-08-02 23:28 | Report Abuse

umashankar jaiswal?

Posted by Andrew62 > 2017-08-02 23:43 | Report Abuse

UMW IS A CURSE

Posted by Andrew62 > 2017-08-02 23:45 | Report Abuse

BUY TOYOTA LAST

Posted by Andrew62 > 2017-08-03 00:53 | Report Abuse

Umw - Buy TOYOTA last

Posted by offshore > 2017-08-03 02:20 | Report Abuse

Unless PNB can arm twist Petronas to award contracts at a higher than market rate that can allow UMWOG to be profitable, it's really hard to see how this company can be back to the black within 2 years. Seriously, if this company really got potential, why not PNB does an MGO, take this company private and re-list it when the oil price recovers (which most people here think will happen soon) at a higher IPO price.

Posted by 687423 > 2017-08-03 11:24 | Report Abuse

Miserable company got to wait for handout from petronas.....

Posted by harold8990 > 2017-08-03 13:52 | Report Abuse

Client rig utilization is low due to oil price. So once oil price bounce to atleast above 70 then it depends on Oil company like Petronas,shell,murphy, etc whether they wanna boost production on the workover rig..agree with offshore that this upside might need to wait for another 2-3 years minimum. US shale oil is slowing down the oil price for now.

Posted by investor12345 > 2017-08-03 14:43 | Report Abuse

Just my personal view that even Malaysia Marine and Heavy Engineering which has a 66.5% controlling stake by MISC that's owned by PETRONAS also just recorded bigger losses, its 7th consecutive quarter of continued losses. If PETRONAS wanna save a company, it might wanna do with Malaysia Marine and Heavy Engineering first, not UMWOG

Posted by cth0712 > 2017-08-03 17:12 | Report Abuse

that day when the price surge to 0.37, reason is khazanah bought all the right issue? now the price back to original 0.285-0.30, no more support for this counter?

Posted by FlyHiLaylo > 2017-08-03 17:35 | Report Abuse

PNB is all out to support UMWOG right issue. Recapitalization is in placed. Join the train and just relax for a year or two....

http://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=181935&name=EA_DS_ATTACHMENTS

Posted by investor12345 > 2017-08-03 20:20 | Report Abuse

will it not cause major dilution?

Posted by naimfm > 2017-08-03 20:26 | Report Abuse

Currently mothershare priced at 0.295, what is the advantage to subscribe right issue at 0.30 with exercise price of 0.395? Anybody can explain this? I am really confused.

Posted by investor12345 > 2017-08-04 07:46 | Report Abuse

It really depends on your views naimfm. Think about it this way, if you think the charter rates gonna improve for whatever reason (perhaps gotta take a contrarian view here), then it may be worth it as the warrants may be able to be exercised in the money in the future?

Posted by FlyHiLaylo > 2017-08-04 08:48 | Report Abuse

http://www.theedgemarkets.com/article/mgo-exemption-umwog-fair-and-reasonable-says-mercury-securities

Any comment guys?!

Posted by omione > 2017-08-04 12:56 | Report Abuse

No good for shareholders

Posted by omione > 2017-08-04 13:16 | Report Abuse

Everyone who own UMWOG stocks should go to the EGM on Aug 25 to vote against the rights issue. The rights issue is not good for shareholders. The prospectus implied a 23% discount on Theoretic ex price. At current rate, it's more like negative discount.

Current NTA per share is about Rm1. After rights issue, it will be between 47-49 sen. So I am urging everyone to go to the EGM to vote "NO" to rights issue. Propose that PNB take the company private. Taking the company private is better for PNB and the shareholders. So remember to go to the EGM on Aug 25. If PNB agrees to take the company private, the stock price will skyrocket.

Posted by oasischeah > 2017-08-04 17:52 | Report Abuse

Everything UMWOG did or plan to do seems to be wrong move. It is very bad omen. Sayonara UMWOG.

Posted by offshore > 2017-08-04 20:48 | Report Abuse

Before charter rates go up, oil price has to go up first. This is when oil companies restart their drilling campaign. It will take some time to mop up the rig oversupply. Only then, the charter rate will go up. Will the oil price ever go up? Opec will not continue to control production because many members are not following the quota.

That current NTA of RM1 is just a number. I am sure PNB knows this company doesn't worth that much because impairment has not fully dialed in. Those low charter rate contracts are probably secured just to buy some time from having full impairment effect.

Posted by araj87 > 2017-08-05 12:48 | Report Abuse

if you guys vote "no" to the right issues and have PNB take this company private, PNB can then remove all the useless top management and the cronies. this is a good choice, brand new start for the company. out with the useless and old. in with the new. you look at this company ever since the president step in it has only went downhill. shit management no hope. talk a lot of cock only

Posted by hewusana > 2017-08-06 17:47 | Report Abuse

Are you sure

Posted by araj87 > 2017-08-07 01:01 | Report Abuse

no. but possible. any chance to get rid of this shit mgmt is good chance

Posted by marklks5 > 2017-08-07 11:09 | Report Abuse

ever since mid july, the average trade vol is 9million.. fishy

Posted by JamesPond > 2017-08-07 12:41 | Report Abuse

Whatever you vote does not matter. PNB's vote alone is more than enough to carry the resolutions through. This Co went downhill since new president??? I m not too sure about that. Almost, if not all, O & G counters were in trouble since 2 to 3 years ago. As for UMWOG slide in share price, this was expected as they are financially distressed. Moreover with UMWH washing their hands clean from OG by distributing all their OG shares, it was expected to go further south.

Posted by JamesPond > 2017-08-07 14:15 | Report Abuse

marklks5...are you at the right counter??? SInce mid July, except 04.08.17, the traded volume varies between 12M to 120M!!

Posted by offshore > 2017-08-08 03:34 | Report Abuse

PNB can't vote in this EGM.

The management should also be changed. They just got too comfortable with that "there is always PNB behind us" mentality. Both UMW and UMWOG management are like that. In the end, it is the unit holders that will bear the brunt by getting a lower amanah saham return.

Posted by omione > 2017-08-08 09:25 | Report Abuse

Yes. With PNB's controlling stake, the rights issue resolution will carry the day. But PNB can't vote to exempt itself from undertaking MGO. So if minority shareholders like you vote NOT to give PNB the exemption, PNB may have to undertake the MGO. The share price will get a good bounce. It is tantamount to taking UMWOG private. The minority shareholders are in control in this regard.