Posted by Cik Babe > 2018-02-13 21:10 | Report Abuse

ft?

Posted by Tessa Joseph > 2018-02-13 21:10 | Report Abuse

i have no idea :)

Posted by Mark T Bird > 2018-02-13 21:18 | Report Abuse

cik babe aka sherri please don't leave

Posted by Cik Babe > 2018-02-13 21:23 | Report Abuse

hish awak ni, aku datang sekejab2 boleh la, ni nak raya cina, ada family datang rumah cuti, menu papaya juice hehehe aku baca orang sini kata papaya juice aka fortunebull

Posted by Cik Babe > 2018-02-13 21:26 | Report Abuse

aku baca betul ke tak, tak tau, KUTPAI AND KUTNAIK nak nengok tv

Posted by Tessa Joseph > 2018-02-13 21:29 | Report Abuse

I also better cabut, quality time with hubby, take care bird!

Posted by Mark T Bird > 2018-02-13 21:33 | Report Abuse

Ranhill eyes overseas opportunities, as profits jump

KUALA LUMPUR: Ranhill Holdings Bhd said it has started talks to expand its water treatment and electricity generation business overseas to boost growth, as earnings surged in the fourth quarter ended Dec 31.

Net profit rose 69% to RM22.45mil, the company said in a filing with Bursa Malaysia on Tuesday, despite a slight drop in revenue to RM372.5mil.

The improved performance boosted its full year earnings to RM77.86mil, or 8.76 sen a share.

Ranhill said it will pay a second interim dividend of two sen a share on Feb 14 and has proposed a final payout to two sen a share to be approved by shareholders at its upcoming AGM.

“We foresee gradual growth in electricity demand from the company’s current 2 X 190MW plants,” it said, commenting on its growth outlook for 2018.

“The company and its strategic partner are in the final phase of negotiation with regards to the 300MW combined cycle power plant in Sandakan, Sabah which will contribute additional revenue and profit to the group,” it added.

Ranhill, on Monday, announced that a subsidiary involved in the Sandakan project had received a conditional letter of award from the Energy Commission to develop the power plant.

Meanwhile, the company has “commenced negotiation for opportunities” in Thailand, Myanmar and Australia.

Ranhill said growth in the local environment segment is expected to be supported by the increasing demand for water in Johor.

In the international environment sector, Ranhill said its “strong partnership” with SIIC Environment Holdings Ltd of China had resulted in lower project loans interest with an average interest saving of approximately 1% per annum.

“The joint venture is now poised to commence exploring new opportunities for industrial waste water concession contracts and other potential water related works in China and South East Asia under the Belt and Road Initiative,” it said.
Read more at https://www.thestar.com.my/business/business-news/2018/02/13/ranhill-eyes-opportunities-overseas/#1XM1EKbHlOqFQHUe.99

Posted by Mark T Bird > 2018-02-13 21:34 | Report Abuse

Great Eastern looking at IPO, sale of stake in Malaysia

SINGAPORE: Great Eastern has started the process to reduce its stake in its Malaysian unit, says its chief executive officer Khor Hock Seng.

Bloomberg quoted Khor as saying during a briefing on Tuesday the listed insurer was looking at both the initial public offer and sale of stake as options.

He was also quoted saying Great Eastern would like to be among top 10 life insurers in Indonesia over the next five years and it was open to expanding through acquisitions or organic growth.

On the Indonesian market, Khor said Great Eastern will put "a lot of focus and emphasis on".

“Company is also looking at general insurance opportunities in Indonesia,” he said.

As for Thailand, it was a market which Great Eastern would like to look at if opportunities arise.

“Singapore and Malaysia still offer a lot of growth potential,” he said.
Read more at https://www.thestar.com.my/business/business-news/2018/02/13/great-eastern-looking-at-ipo-sale-of-stake-in-malaysia/#04cvV3yE2XZarkpu.99

Posted by Mark T Bird > 2018-02-13 21:38 | Report Abuse

EPF sees buying opportunities in bumpy stock market

This article first appeared in The Edge Financial Daily, on February 13, 2018.

KUALA LUMPUR: The Employees Provident Fund (EPF) expects global equity markets to be volatile this year but sees buying opportunities amid the bumpy ride ahead.

“Last year was an uninterrupted year for equity markets as they continued to do well," said EPF chief executive officer Datuk Shahril Ridza Ridzuan. “But there is a market pullback happening now and we expect this year to be bumpy as people are looking at microeconomic fundamentals.

“It will be fine for us for the equity markets to be bumpy, as we like volatility which allows us to have more liquidity in the market.

“But now we are looking at whether it is a structural pullback or temporary pullback in terms of the market taking a breather,” he said at a media briefing yesterday.

As for the 14th general election (GE14) expected later this year, Shahril said its impact has already been priced in by the market and as such a further steep rise or fall in prices is less likely.

“Actually there are no uncertainties in the [local] equity market as most of the investors have already priced in that (GE14) and are now focussing on the corporate results,” he said, stressing that political events usually tend to only have a short-term impact on the stock market.

“For investors like us (EPF) we are more focussed on long-term investment which is driven by the structural factors (microeconomic factors) that go into our projection of growth,” he said.

On Bank Negara Malaysia’s move to raise its overnight policy rate by 25 basis points to 3.25% last month, Shahril said the increase is the result of a normalisation of economic growth.

“We are comfortable with the microeconomic conditions domestically and globally as there is quite a lot of growth coming in now to the point where the central bank can finally start to normalise the interest rate,” he said.

At the same time, the EPF is also targeting to expand its global asset portfolio to 32% from 28% last year by actively looking at one or two overseas markets to further enhance the fund's presence and provide better returns for its members.

Shahril said the need to look for more opportunities globally is to help the fund compensate for any downturn in any of its investment markets and continue to grow.

“We will be looking at adding one or two new markets of territories to our [global asset] portfolio. We need to have a balanced portfolio and exposure as much as we can to growth around the world.

“We continue to discuss with the appropriate authorities for them to allow us to invest overseas. In 2018, we (EPF) are potentially looking at Latin America as we have very little exposure to that part of the world which is also a growth market by itself,” he said.

As of Dec 31, 2017, the EPF’s overseas investments made up about 28% of total investment assets, while the remaining 72% being held under domestic assets.

Shahril said despite making up 28% of total investment assets, the overseas investments had provided high returns, contributing 41.4% of the EPF’s gross investment income in 2017.

“At 28%, it is pretty commendable resulting in very high return for our members. Our historical chart has shown that global assets give us the necessary diversification and exposure to growth, which is vital for the fund to continue to perform and provide the kind of returns that our members expect.

“Returns are one thing but risk management is far more important to us as it allows us to make sure that we have assets in the right market and industry so it helps to [counter] the downturn in any one market or any one sector for us to get the returns,” he said.

The retirement fund has invested in 30 markets, which include the developed market as well as North Asia and Asean.

THEEDGE

Posted by Mark T Bird > 2018-02-13 21:41 | Report Abuse

Mobile cellular penetration reaches 131.8% in 3Q2017

CYBERJAYA (Feb 13): Mobile cellular penetration in Malaysia has reached 131.8%, while smartphone penetration stood at 70% in the third quarter of last year (3Q17).

Malaysian Communications and Multimedia Commission (MCMC) Chairman Tan Sri Dr Halim Shafie said Malaysia’s broadband had been keeping up with the demand from customers, with broadband penetration currently at 84.5% as stated in the “3Q 2017 Communications & Multimedia: Facts & Figure” report.

"MCMC has been working tirelessly towards achieving broadband ubiquity and high-level smart phone penetration," he said prior to a press conference on the Malaysia FinTech Expo 2018 here today.

The text of his speech was read by MCMC Network Security, New Media Monitoring, Compliance and Advocacy Sector Chief Officer Dr Fadhlullah Suhaimi Abdul Malek.

Halim said e-payment would be one of the key factors in ensuring the success of Malaysia’s vision for the digital economy, adding that the outlook for e-payments was very encouraging.

Bank Negara Malaysia (BNM) had said recently that the volume of individual Internet banking transactions had grown more than three-fold, from 141.3 million transactions in 2011 to 435.4 million in 2016.

"This positive growth can be attributed to pricing and market incentive framework implemented by BNM, as well as the continuous awareness programme by the central bank and the banking industry to enhance confidence in the use of internet banking," he said.

Halim added that banking fraud losses sustained by individuals in Malaysia remained very low at 0.0004% of total transaction volume and 0.0017% of total transaction value in 2016.

"This shows that confidence in e-payments is currently on the rise and more citizens found it to be a safe, secure and convenient way to transact," Halim said. — Bernama

Posted by Mark T Bird > 2018-02-13 21:46 | Report Abuse

Goodnite Tessa, Cik Babe, signing off!

Posted by Tessa Joseph > 2018-02-13 22:38 | Report Abuse

the following from hibiscus website :

Is it Brent or Crude Oil that is generating sales revenue to the Company, as different sources are stating differently? If both, which one is the main product?
Crude Oil is a naturally occuring unrefined petroleum product. The Company produces crude oil from the Anasuria Cluster of producing fields offshore United Kingdom in the central North Sea.

Brent is a benchmark crude which is a crude oil that serves as a reference price for buyers and sellers of crude oil. Currently there are three primary benchmarks globally, which are:-

1. West Texas Intermediate (WTI);

2. Brent; and

3. Dubai Crude.

Hibiscus Petroleum uses Brent as a reference price for Anasuria because the quality and type of crude oil produced by the Anasuria Cluster is close to Brent.

3 April 2017

How was it possible that the average selling price for quarter ending 31/12/16 can be below the low of brent crude spot price of USD43.60 during the same period?
In the first instance, we would like to inform our shareholders that our crude offtakes from Anasuria are marketed by the London office of BP Oil International Limited. As part of our crude oil sales activity, BP oil traders conduct a transparent bidding process for each offtake and, subject to our approval, award the winning bidder the relevant parcel of crude oil (normally in cargoes of circa 250K bbls, net to Hibiscus). Furthermore, when we quote a ‘Realised Oil Price’, we are reporting a net selling price that has taken into account the charges applied by BP as our marketing agent and the vessel charter costs for delivery of the oil to the refinery.

We should also clarify that whilst we produce oil on a daily basis, we do not sell oil each day but, instead we sell oil in cargoes (or parcels) of circa 250 K bbls per delivery (net to Hibiscus). Oil produced each day is processed and STORED in the cargo oil tanks on our Anasuria Floating Production Storage and Offloading (‘FPSO’) facility until we have in our inventory the desired volume.

Once we have the desired volume, it is sold (in one batch) at a single price / bbl.

Our cargo (that resulted in our second quarter revenue) was bid out, sold and delivered by BP (on our behalf) before the OPEC meeting held in November 2016 (as explained under note 18 of the Unaudited Quarterly Financial Report for 31 December 2016 (‘Report’)). Hence, we obtained a price that was prevalent at the time of the delivery.

Please note that the average oil price shown in the Report is USD41.70 per barrel.

In summary, we do not sell oil in the spot market. BP markets, collects and delivers cargoes on our behalf, selling our oil in advance (normally approximately two months in advance). We pay BP a fee for performing this service and this ensures that we do not take the credit risk of the eventual buyer of the oil. Finally, spot prices may be indicative but are not accurate in our business model.

23 March 2017

Posted by Tessa Joseph > 2018-02-13 22:40 | Report Abuse

Although the balance sheet did not reflect any bank borrowings, the P&L indicated interest payments. If there is no borrowing, what were the interests paid for?
With reference to the Unaudited Quarterly Financial Report for 31 December 2016, the finance costs in the Profit or Loss is largely explained in notes 15.1 and 15.2 in the Report.

These finance costs mainly relate to the accounting treatment of our Deferred Consideration payment due to the vendors of our Anasuria asset and the future Decommissioning Costs also related to Anasuria. These costs do not draw on the cash reserves of the company and we confirm that the company, remains free of debt.

23 March 2017

When is the acquisition of the equity in the 2011 North Sabah EOR PSC expected to be concluded?
We are bound by strict Confidentiality Agreements with the vendors (Sabah Shell Petroleum Company Limited and Shell Sabah Selatan Sdn Bhd) and the Malaysian oil industry regulators (PETRONAS) relating to progress on the North Sabah acquisition. We will only be permitted to make a disclosure when there is a material development and such disclosure would need to be approved by Shell and PETRONAS.

As a listed entity on the Main Market of Bursa Malaysia Securities Berhad, the Company is required to make material disclosures in accordance with the Main Market Listing Requirements. Following the announcements made on 12 and 26 October 2016, we wish to advise that further announcements will be made in due course, as may be appropriate.

23 March 2017

Posted by Tessa Joseph > 2018-02-13 22:42 | Report Abuse

We noticed the recent fall of the share price, we would like to know if there is any change in Hibiscus income or if Hibiscus is expecting any impairment or loss of oil production from North Sea asset or other assets. Is Anasuria operation still up and running and on target?

There are a few factors that affect/move the share price of a Company, among them are the market interests or sentiment on the Company's shares. We do not have control over this.

The Company is responsible for making timely disclosure of information that may impact share price. In this regards, we have and continue to fulfil our responsibilities.

18 April 2017

What is the expected date for the announcement on the Company’s Quarterly Results?

Announcement of quarterly results for each financial quarter is due not later than 2 months from the end of the quarter. For example, the announcement of the quarterly results for the quarter ended 31 March 2017 is due not later than 31 May 2017.

19 May 2017

Posted by Tessa Joseph > 2018-02-13 22:43 | Report Abuse

Did the previous CFO tender his resignation with sufficient notice, and have you found a replacement?

Mr. Vincent Jacob Lee was our Chief Financial Officer / Vice President Finance. He resigned to pursue certain personal goals. He provided adequate notice of his resignation and has offered the company the benefit of his knowledge and experience, going forward, if they are required on an ad-hoc basis. We wish him the very best for his future.

Mr. Yip Chee Yeong (see page 57 of our most recent Annual Report for his profile) has been promoted to the position of Vice President Finance / Group Controller to oversee the activities of the finance function.

19 May 2017

Other Expenses in the Consolidated Statements of Profit or Loss showed an increase of approximately RM10m in the current quarter ended 31 March 2017 when compared to the quarter ended 31 March 2016. What were these expenses and are they recurring?

The main components of Other Expenses are depreciation and amortisation of equipment and intangible assets relating to the Anasuria Cluster, both of which are non-cash in nature. As you will recall, the acquisition of the Anasuria Cluster was completed on 10 March 2016. As a result, such costs were incurred for only a month in the quarter ended 31 March 2016 compared to three months in the current quarter. These costs are recurring in nature.

14 June 2017

Posted by Tessa Joseph > 2018-02-13 22:45 | Report Abuse

Provision for taxation in the current quarter was almost 60% of PBT in the current quarter ended 31 March 2017 and has increased compared to the previous quarter. Please explain.

Income generated by Anasuria Hibiscus UK Limited via the sale of crude oil and gas from the Anasuria Cluster is subject to taxation in the United Kingdom. Such taxable income is subject to 30% corporation tax and 10% supplementary charge. The accounting profit (in this case, the profit before taxation) and taxable income can be different in certain reporting periods because of the differences in principles approved for financial reporting and tax filing. In addition, provision for taxation at the end of each accounting period is pro-rated based on latest available information of the total tax obligations for the full financial year.

14 June 2017
In relation to the 2011 North Sabah EOR PSC, can you provide any information such as the average daily production for the quarter ending March 2017, the average selling price for the quarter, and the cost of production of each barrel?

We are bound by strict Confidentiality Agreements with the vendors (Sabah Shell Petroleum Company Limited and Shell Sabah Selatan Sdn Bhd) and the Malaysian oil industry regulators (PETRONAS) relating to progress on the North Sabah acquisition. We will only be permitted to make a disclosure when there is a material development and such disclosure would need to be approved by Shell and PETRONAS.


As a listed entity on the Main Market of Bursa Malaysia Securities Berhad, the Company is required to make material disclosures in accordance with the Main Market Listing Requirements. Following the announcements made on 12 and 26 October 2016, we wish to advise that further announcements will be made in due course, as may be appropriate.

22 June 2017

Posted by Tessa Joseph > 2018-02-13 22:49 | Report Abuse

What is the status of the new share placement as proposed by Hibiscus? When is this new capital injection targeted to be completed?

Hibiscus had announced a proposed private placement of up to 10% of the existing issued ordinary share capital of the Company on 31 May 2017. Subsequently, on 1 June 2017, an additional listing application in connection with the proposed private placement was submitted to Bursa Malaysia Securities Berhad, which is currently pending approval. Upon receipt of the same and barring any unforeseen circumstances, the proposed private placement is expected to be completed by the 2nd half of 2017.

6 July 2017

Could you give an update on the remaining steps for closing the acquisition of the EOR North Sabah PSC? What is the expected date of completion? It was reported that Shell is checking the pre-approval conditions from Petronas, do you have an update on this?

We are bound by strict Confidentiality Agreements with the vendors (Sabah Shell Petroleum Company Limited and Shell Sabah Selatan Sdn Bhd) and the Malaysian oil industry regulators (PETRONAS) relating to progress on the North Sabah acquisition. We will only be permitted to make a disclosure when there is a material development and such disclosure would need to be approved by Shell and PETRONAS. As a listed entity on the Main Market of Bursa Malaysia Securities Berhad, the Company is required to make material disclosures in accordance with the Main Market Listing Requirements. Following the announcements made on 12 and 26 October 2016, and 29 May 2017, we wish to advise that further announcements will be made in due course, as may be appropriate.

20 July 2017

What is the status of the lease out of the rig as reported in the 3Q2017 report? Will the USD 10 mil pre-paid lease amount be potential income for Hibiscus?

In our 3Q2017 financial statements, Hibiscus Petroleum Berhad (‘Hibiscus’ or ‘the Company’) disclosed that it had entered into a ‘lease and leaseback’ arrangement with a third party charterer in respect of its rig, (i.e the Britannia). This disclosure was a repeat of a similar in nature disclosure made in Hibiscus’s annual audited financial statements issued in October 2016.

Whilst the structuring of the lease was such that the Company could elect to lease out the rig, at its option, on a long term basis for a prepaid lease amount of USD 10 million, this arrangement would have involved the Company pledging as a security the Britannia (as the lease rental was prepaid). At the time that we entered into this arrangement, the Company had not signed the conditional Sale and Purchase Agreement (‘SPA’) relating to the North Sabah transaction. Given that the Company has now signed the SPA, the Company may have alternative uses for the Britannia and thus we have, at this juncture, not elected to lease out (and lease back) the rig for any period of time.

In specific response to your queries:

Due to the fact that the Company may have an alternative internal application of the Britannia, we have not commenced the leasing of the rig and thus no prepaid lease rental has been received from the third party charterer. For the avoidance of doubt, we have also not provided the Britannia as collateral or as third party pledge to any party. Given this situation, there is no income associated with the leasing of the Britannia. Should we at any stage elect to pursue this arrangement with the third party charterer or any other party, we will make the necessary disclosures.

20 July 2017

Posted by Tessa Joseph > 2018-02-13 22:50 | Report Abuse

Hibiscus had recently issued 62 million shares on 15/8/17. To whom were these placed to and what strategic advantages can they bring to the company?

The shares were placed to eligible third party investor(s) who fall within the criteria set out under Schedules 6 and 7 of the Capital Markets & Services Act, 2007. The First Tranche Placement to the Eligible Parties are listed as below:

Percentage of Shares Placed

Local Individuals: 9.68%

Local Corporates/Funds: 60.31%

Foreign Corporates/Funds: 30.01%

A total number of 62 million shares were placed.

The rationale for the Proposed Private Placement is as follows :

i. The Proposed Private Placement will enable the Group to raise funds mainly for working capital purposes more expeditiously and in a more cost-effective manner as opposed to other fund raising options via equity. For example, when compared to a rights issue, a rights issue is more time and cost consuming and may also financially burden the existing shareholders of the Company;

ii. The Proposed Private Placement is expected to strengthen the shareholders and capital base of the Group;

iii. The Proposed Private Placement will serve as additional source of funding for the Group without incurring interest expenses as compared to borrowings while the Group is considering alternative source of funding from financial institution(s) and other financing entities;

iv. The Proposed Private Placement will improve the liquidity and financial flexibility of the Group by strengthening its financial position; and

v. The Proposed Private Placement will enable the Group to raise added funds for its working capital purposes, which is expected to contribute positively to its earnings potential in the future.

One of the specific considerations in undertaking the Proposed Private Placement is the added value that the Proposed Private Placement potentially brings to the Group as it allows the Group to further strengthen its financial position in proceeding with its existing business operations (which include the maintenance and/or upgrading of existing assets), the completion of which enhances the value of both the business of the Group and the future monetisation of the projects/assets of the Group. The Group currently has no debt facilities and the near-term financial impact of the Proposed Private Placement would be to further strengthen the balance sheet and cash position of the Group.

14 August 2017

Posted by Tessa Joseph > 2018-02-13 22:52 | Report Abuse

In the purchase of 50% stake in Anasuria Cluster, Hibiscus incurred an introducer fee of US$6.0m, some 11.4% of the purchase price. Will there be a similar expense for North Sabah purchase and if so, what will be the quantum like?
An introducer fee was paid for the Anasuria project as this project was initially identified by Ping Petroleum Ltd (Ping). Ping also introduced us to their in-country relationships that had been developed with the UK authorities, financiers, oil traders and technical partners. The initial due diligence on the project was also done by Ping.

Given that considerable value was achieved by Ping prior to our entry, a formula was developed for the introducer fee which eventually resulted in the sum paid on successful close of the transaction.

With respect to Sabah, all the ground work towards the bidding and conditional award of the asset has been done by various departments within Hibiscus Petroleum Berhad from the start. Thus, apart from due diligence and some financial cost (for deposit), no introducer fees of any form are due to third parties.

14 September 2017

Most analysts pegged Hibiscus's cost of debt around 5-7% and cost of equities around 10%-12%. Given that Hibiscus’s balance sheet is debt free with positive free cash flow, why choose to raise funds via equity fund raising which is more expensive? Is it difficult to get bank loans or is the interest charged prohibitive?

During the period mid 2014 until mid 2017, we have found it very difficult to access the debt markets. Malaysian banks were mostly interested in limiting their exposure only to their current oil and gas sector clients. Hence there was little interest for the banks to take us onboard as a new client in an industry sector where market sentiment was poor.

We also tried alternative sources of borrowings i.e. hedge funds, “special situations” funds but the cost of borrowings exceeded our estimated cost of equity.

Having said that, market sentiment towards oil and gas industry is improving with the stabilization of Brent oil prices above US$50 per bbl. Hence, Hibiscus Petroleum is currently in discussion with potential lenders to secure borrowing/loans for capital expenditure and working capital purposes. However, we are unable to disclose further information as we have signed confidentiality agreements with these potential lenders.

14 September 2017

Posted by Tessa Joseph > 2018-02-13 22:53 | Report Abuse

In the circular to shareholder dated 20th January 2016, it is mentioned that part of the fund raising for the purchase of Anasuria is through sale of call options to Britannic Trading Limited (BTL). Could you provide an update to the status?

In preparation for the completion of the Anasuria transaction, our company wished to have contingency funding available to mitigate our financial position in case of any unforeseen circumstances (unscheduled maintenance etc) which may have risen. Therefore, a funding package was net up with Britannic Trading Limited (BTL) (based on the sale of call option) for utilization within 60 days of completion of the Anasuria transaction if there was a requirement for emergency funding. BTL is a wholly owned subsidiary of BP Limited. As things turned out, this funding was not required and the facility lapsed. Hence, no call options were sold to BTC.

It should be noted that the entire purchase of consideration of Anasuria was paid for through:

- Placement of shares,

- Set-off of working capital adjustment with vendors, and

- Internal funds.

14 September 2017

It is understood that Hibiscus Petroleum currently produces crude oil via its asset Anasuria Cluster. Does Hibiscus also do crude oil trading?

Hibiscus Petroleum via its wholly owned subsidiary, Anasuria Hibiscus UK Ltd, has entered into a long-term marketing and offtake agreement for the sale of crude oil with BP Oil International Limited (“BPOI”). BPOI is a subsidiary of BP p.l.c.. It distributes and markets crude oil and deals with crude oil forwards and contracts. Using their global marketing network, BPOI identifies a potential customer for our oil, locks in a competitive price for the cargo and arranges the ‘lifting’ of the oil via tanker to the client refinery.In this manner, Hibiscus Petroleum sells the crude oil that it produces. Whilst the company may consider a position in the futures or options market to mitigate oil price risks, the company does not operate a crude oil futures trading business unit.For more information on Hibiscus Petroleum’s business and operations, kindly refer to the section “Management Discussion and Analysis” of the company’s 2017 Annual Report.

21 November 2017

Posted by Tessa Joseph > 2018-02-13 22:55 | Report Abuse

Has Hibiscus been rated by any international credit rating agencies such as Moody’s and S&P?
Typically, the ratings by the credit rating agencies like Moody’s and S&P would be applicable to large-scale borrowers, including corporations and governments, with debt securities such as bonds in issue.At this point in time, credit ratings would not be relevant to Hibiscus Petroleum as it has no outstanding debt securities in issue.

21 November 2017

I am interested in working for Hibiscus Petroleum. Where should I send my resume to?
You may send your resume to hr@hibiscuspetroleum.com. The HR team will contact you if there are any suitable positions vacant

22 November 2017

According to the United Kingdom’s 2017 Autumn budget, the UK government will introduce tax changes from Nov 2018 to encourage new entrants and fresh investments into the mature fields of the UK Continental Shelf in the North Sea. Will this have any impact to Hibiscus Petroleum?
The announcements in United Kingdom’s recent 2017 Autumn Budget relating to the oil and gas industry apply to deals that complete on or after 1 November 2018, and have no impact on the Group’s investment in the Anasuria Cluster. They may be of relevance if the Group decides to invest in other oil and gas asset(s) in the United Kingdom in the future, upon which we will be seeking the appropriate advice from our tax consultants.Whilst we do not directly benefit this time around, we are encouraged that the UK government remains committed towards making the North Sea a more competitive destination for investment in oil and gas activities.


24 November 2017

Posted by Tessa Joseph > 2018-02-13 22:58 | Report Abuse

Brent Oil Price is currently at above USD60, if this trend continues throughout 2018, would Hibiscus have any plans to capitalise on this positive trend in oil price that can benefit the Group and the shareholders?

To date, the Group has not performed any hedging against movements in the price of oil for production from the Anasuria Cluster. The indications are that prices are stabilizing at the current time but geopolitical events could change the scenario dramatically. In putting in place a hedge, the Group must be confident of being able to deliver physical volumes of crude, at least equivalent to the volume hedged, on or about the time when the hedge contract becomes due in order that we do not take on financial exposure that could be detrimental to us. We will review our position from time to time and, in the event the Group participates in hedging contracts, we shall make the necessary disclosures.


24 November 2017

Could you please provide more background information to the announcement made to Bursa by Hibiscus on 8 December 2017 regarding the Investor Presentation slides from 3D Oil, such as the intent of this announcement and the relationship of Hibiscus to 3D Oil?

Hibiscus Petroleum, via its wholly-owned subsidiary, Oceania Hibiscus Sdn Bhd, has a 13% interest in 3D Oil Limited (3DO). 3DO is also a joint venture partner to the VIC/P57 exploration permit. More information on VIC/P57 can be found in the Company’s 2016/2017 Annual Report (at pages 30 and 145). As 3DO is an associate company of Hibiscus Petroleum, the disclosure is part of the Company’s efforts to continuously fulfil its governance obligations as a listed entity, and disseminate available information to its shareholders in a timely manner. For more information on 3D Oil Limited, please refer to their website at http://www.3doil.com.au/


10 December 2017


Is the Anasuria Cluster affected with the unplanned closure of the Forties Pipeline System?

Produced oil from the Anasuria Cluster is exported directly from the Anasuria FPSO via a tanker managed or charted by BP Oil International Limited (“BPOI”) while the gas production is exported through the Fulmar Pipeline System. Therefore, the Anasuria Cluster is not affected by the closure of the Forties Pipeline System as we do not export either oil or gas production via the Forties Pipeline System.


14 December 2017

Posted by Tessa Joseph > 2018-02-13 22:59 | Report Abuse

How is the Contractor’s R/C (Revenue Over Cost) ratio determined for the 2011 North Sabah EOR PSC?

These specific commercial parameters relate to the North Sabah Production Sharing Contract. This type of information is strategic to Petronas’ effort to attract E&P (Exploration and Production) players and investors into the Malaysian oil and gas industry and these are bound by strict Confidentiality Agreements with the Malaysian oil industry regulators (PETRONAS).


19 January 2018

How does Hibiscus Petroleum prevent incidents like the 2010 Deepwater Horizon blowout, is the company adequately insured for such incidents? What sort of financial impact would it have on the balance sheet in the event of such incidents?

Generally, our assets are in a production mode and we constantly monitor the integrity of the assets and facilities that are part of our production systems. We also have in place reasonable levels of insurance cover consistent with the type of activities that are being undertaken. Nevertheless, the impact of such an event on the company’s balance sheet could be significant as it probably was with BP for the 2010 Deepwater Horizon incident. Hibiscus Petroleum operates our assets in accordance with a Safety Case which requires us to demonstrate that the risks of such events have been reduced to as low as reasonably practicable (ALARP). We also utilise reputable and industry tested contractors to undertake key operational activities.


22 January 2018

Posted by Mark T Bird > 2018-02-14 07:41 | Report Abuse

Good morning Tessa. Can u give me the link to the closed group? Can I join?

Posted by Tessa Joseph > 2018-02-14 07:45 | Report Abuse

Sure, np. Approval by admin.

Posted by Mark T Bird > 2018-02-14 07:48 | Report Abuse

who is the admin, anyone I know?

Posted by Tessa Joseph > 2018-02-14 07:52 | Report Abuse

One of the guys in here, I'm sending you the link, check your phone.

Posted by Mark T Bird > 2018-02-14 08:05 | Report Abuse

cik babe X join?

Posted by Tessa Joseph > 2018-02-14 08:12 | Report Abuse

I have given her the link much much earlier, but usually on buying stocks she normally ask my opinion first since I handle her unit trusts investment :)

Posted by Mark T Bird > 2018-02-14 08:17 | Report Abuse

k ty

Posted by Tessa Joseph > 2018-02-14 08:24 | Report Abuse

cik babe, ys! kcloh kasi you so many flags ROTFL

Posted by Cik Babe > 2018-02-14 08:32 | Report Abuse

heh aku mana kenal dia, sini memang bias, kalau cakap melayu dia orang kasi flag, kalau cakap china no flag, bukan tak tau cakap melayu, ini malaysia, dia orang saja je nak eksyen, pi SGX forum, situ semua tertib, mana ada kasar2 macam sini, buat malu je orang malaysia

Posted by Mark T Bird > 2018-02-14 08:52 | Report Abuse

yup, i saw those flags this morning :(

Posted by Oreo Oreo > 2018-02-14 09:27 | Report Abuse

Best wishes for the holidays and happiness throughout the CNY! Great luck, great profit !

Posted by Oreo Oreo > 2018-02-14 09:28 | Report Abuse

hello Mark T,cik babe, Tessa and friends here. hehe

Posted by Mark T Bird > 2018-02-14 09:29 | Report Abuse

oreo my bro happy CNY 2 u!

Posted by Tessa Joseph > 2018-02-14 09:32 | Report Abuse

Hey hi there, ty for the wishes, happy holidays to you, hope you will have a fun filled days with your family, your welcome to post your thoughts on warrants and stocks

Posted by Cik Babe > 2018-02-14 09:41 | Report Abuse

Apa khabar oreo? Semalam dok cari awak, nak nanya pasal warrant. Semalam airport jatuh banyak, aku ingat bangunan airport terbakar. Hari ini SSteel pulak naik, mungkin nak repair bangunan EPF terbakar, just kidding.

HAPPY CHINESE NEW YEAR OREO, IF BUKAN CHINESE, I WISH YOU A VERY VERY HAPPY HOLIDAYS!

Posted by Mark T Bird > 2018-02-14 09:51 | Report Abuse

the market in a subdued manner, most probably since the bulk of retail players have not been participating.

Posted by Tessa Joseph > 2018-02-14 09:55 | Report Abuse

top losers, the usual suspects, signing off

Posted by Cik Babe > 2018-02-14 10:00 | Report Abuse

alahai PTRANS lak gerak, rugi tak beli aritu, aku pun nak cabut, nak bawak budak2 ni breakfast, kutpai

Posted by Mark T Bird > 2018-02-14 10:45 | Report Abuse

STOCK MARKET HOLIDAYS IN MALAYSIA, SINGAPORE AND HONG KONG

MALAYSIA & SINGAPORE
15/02/2018 OPEN HALF DAY TILL 12.30 PM
16/02/2018 CLOSE
19/02/2018 MARKET RESUME

HONG KONG
15/02/2018 OPEN HALF DAY TILL 12.00 PM
16/02/2018 TO 19/02/2018 CLOSE
20/02/2018 MARKET RESUME

Posted by Oreo Oreo > 2018-02-14 11:04 | Report Abuse

@cik babe, haha sebab semalam sibuk buat benda lain,tak online. Pasal warrant, saya hanya tong separuh,masih belajar hehe

Posted by Cik Babe > 2018-02-14 11:38 | Report Abuse

oreo, awak pandai dari aku, kita sama2 belajar, sama2 kita share info, Minds are like parachutes - they only function when open :)

Posted by Cik Babe > 2018-02-14 15:08 | Report Abuse

BERITA BAIK

Hibiscus Petroleum’s production to more than double on Shell deal

KUALA LUMPUR (Feb 14): Hibiscus Petroleum Bhd's oil production will more than double to 9,000 barrels per day from current 4,000 barrels upon completion of the purchase of 50% stake in North Sabah oilfield from Royal Dutch Shell Plc, says managing director Kenneth Pereira.

* It is on track to complete acquisition by end-March

* “We can’t give any projection” on earnings, “it will more or less follow the trend of doubling up,” says Pereira in an interview at the company’s office in Kuala Lumpur

* “We think North Sabah has got huge potential. The exciting number is the contingent resources which means discovered oil that has yet to be connected to any infrastructure."

* North Sea oilfield contingent resources stands at 79 million stock tank barrels vs remaining reserves of 62 mmstb, according to co.

* Hibiscus will be working with Petronas, partner and nation’s state-owned oil firm to improve production rate for North Sea oilfield after acquisition

* Also looking at establishing $50 million medium term notes for working capital

* It is working to increase Anasuria oilfield production to 5,000 barrels per day by 2020

* The company is on the lookout to buy more oilfield assets, however co. not looking to pay full valuation

** “There must be an angle to it otherwise we can’t afford the deal. We can’t say there’s anything that is anywhere close to our criteria for an asset purchase now. At this price for oil, it’s difficult.”

* Stock is down 20% this month after gaining 141% in six months through end-Jan.

jumpa online kat theedgefd

Posted by Mark T Bird > 2018-02-14 15:40 | Report Abuse

wow!

Posted by Cik Babe > 2018-02-14 15:42 | Report Abuse

Kenneth Pereira, awak punya power simply the best

Posted by Mark T Bird > 2018-02-14 16:54 | Report Abuse

good closing!

Posted by Oreo Oreo > 2018-02-14 17:12 | Report Abuse

Yes,indeed a good closing. Up when you expect the least/ when you disappointed.

Posted by Oreo Oreo > 2018-02-14 17:14 | Report Abuse

Ya cik babe ,lain kali boleh exchange info. At least Dari aspek berlainan.