HIBISCUS PETROLEUM BHD

KLSE (MYR): HIBISCS (5199)

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Last Price

2.80

Today's Change

0.00 (0.00%)

Day's Change

2.75 - 2.80

Trading Volume

3,074,000

Company Announcement


Date Subject
Discussions
67 people like this. Showing 50 of 104,506 comments

kahhoeng

yeah, real garbage co...

4 weeks ago

witan

Closing down at 2.5 when Brent is at $84+. What a joke!!

4 weeks ago

Apple4Oranges

Later the company will do share buyback again 😆😆

4 weeks ago

Nepo

It is time for this giant to wait up

3 weeks ago

witan

LOL Brent is $86 highest since Nov 2023 and yet Hibiscus is in -ve territory today. Bravo!!

3 weeks ago

kahhoeng

Joker bursa or joker counter???

3 weeks ago

pang72

Oil turns bullish liao

3 weeks ago

EngineeringProfit

Ok, buy 2molo

3 weeks ago

Apple4Oranges

Better buy it during its weak moment, not bullish moment. Just my opinion

3 weeks ago

Six6thsense

Peaceful world soon and no need to prepare for the war.

3 weeks ago

wattsy

Do we think Hibby price will explode? interested to hear thoughts.. they have a lot of cash, share buy back is progressing, good fundamentals, but they don’t seem to be loved.. another year and they’ll almost have more cash in the bank that they’re worth.. so things gotta change, or so I think.. thoughts/insights welcome ??

2 weeks ago

twynstar

Hibiscus last closing price = RM2.59 ( =RM 1.04 before share consolidation).
Market cap = RM 2085m
Conversion of USD to MRY = RM 4.70
TTM = Trailing Twelve Months

1) Net Profit ( TTM) = RM 71m + RM 123m + RM 154m + RM 102m = RM 450m
2) EBITDA (TTM) = RM 292m + RM 326m + RM 393m + RM 325m = RM 1336m
3) restricted cash = RM 235m
4) Unrestricted cash = RM 892m
5) Total cash = RM 235m + RM 892m = RM 1127m
6) Total debt = RM 406m
7) Net Assets per share = RM 3.56
8) Enterprise Value (EV) = Market Cap + Total debt - Unrestricted cash = RM 2085m + RM 406m - RM 892m = RM 1599m
9) Net 2P reserves (2P) = 60.9MMboe
10) Net cash generated from operating activities ( 1H,FY2024) =RM 559m
11) Estimated Net cash generated from operating activities (FY2024) =RM 559m x 2 = RM 1118m
12) Estimated Capital Expenditures ( FY2024) = USD 202m x 4.70 = RM 949.4m
13) Estimated Capital Expenditures ( FY2025) = USD 207m x 4.70 = RM 972.9m


Valuation :
1) PER (TTM) = 2085m/450m = 4.63
2) PBR = RM 2.59 / RM 3.56 = 0.73
3) EV / EBITDA ( TTM) = RM 1599 / RM 1336m = 1.20
4) EV / 2P = 5.88 ( peer median = 6.90) **as of 12 March 2024
5) Market cap / Estimated Net cash generated from operating activities (FY2024) = RM 2085 / RM 1118m = 1.865
6) Growing Dividend : 3.75sen ( FY2021), 5.00sen ( FY2022), 6.25sen ( FY2023), 7.50sen ( FY2024F)
7) Total share buy back = 6385200 ( 0.79% of total issued shares)
8 ) Future growth : Extension of PM3 CAA license (CY2024), Teal West Project(CY2025), Fyne Project ( CY2026), Marigold Project (CY2028) , acquisition another high quality producing asset ( ? CY2026)
9) High quality and reliable management teams
10) Wide economic moat company : Almost impossible to get borrowing from banks or raise funds from the public to set up a pure E&P oil & gas company in Malaysia due to ESG issues.


Conclusion :Hibiscus is an extremely undervalued and high quality company in KLSE. Very difficult to find a growing company with low PER, low PBR, extremely low EV/EBITDA and strong cash flow. But share price might not explode due to high CAPEX in FY2024 and FY2025.


I started INVEST hibiscus since 2020

In May 2020, first bought at range of RM 0.500-0.615, but sold all shares in 23/11/2020 with RM 0.550. ( VERY REGRET NOW)

In July and August 2021, accumulated at range of RM 0.605-0.665, no chances to buy at this price already.

In August and October 2022, accumulated at range of RM 0.815-0.825, no chances to buy at this price already.

In June 2023, accumulated at range of RM 0.895-0.905, no chances to buy at this price already. ( HOPEFULLY STILL GOT CHANCE TO BUY AT THIS RANGE)

As a long term investor, I am very happy to growth my wealth with hibiscus. I just target compound growth of 10-12% per year (included dividend). This is my strategy:

Step 1: Save money every month

Step 2: buy low and dont chase high. Hibiscus is cyclical stock. Mr Market sure will give us one or two chances every year to accumulate hibiscus.

Step 3 : Be discipline and repeat Step 1 and Step 2

1 week ago

kahhoeng

hibiscus drops on a rising Brent?

1 week ago

wattsy

Thanks Twynstar, nicely put. What’s also clear is that the ongoing capex is being easily covered each quarter still with great PAT and we should start to see increasing output/ increased revenues as they are realised. They’re aiming to get to 35-50k barrels a day over the next few years with even better profit margins. Will be an interesting few years ahead. Have been accumulating also but not quite as cheap as you managed (low 90s) and will continue to hold and accumulate more when the opportunity arises. Will be interesting what they do with the shares bought back.. nice to see them distribute back to shareholders rather than remove from circulation…

1 week ago

wattsy

Noticed a few times of late that after the bell at 4.45pm there’s a diminishing of the stock price with late sales. It’s like most of the buy calls a removed but there’s some dodgy low value trades a few cents lower which seem to manipulate the price for the day.. most of the day it’s 2.59-60 and then a few low value trades at 2.56 after 4.45….???!

1 week ago

kahhoeng

Prudential been buying, guess they know how to massage the price so they can buy cheap?

1 week ago

kl_guy

someone is holding back the price. keep collecting.

1 week ago

kahhoeng

brent crossed 88 and Hibiscus still not moving? Prudentail so good at this game or or not buying so no buyer???

1 week ago

Six6thsense

Poor people. No more cash

1 week ago

Six6thsense

Oil 150 very soon

1 week ago

NinjaInPyjamas

There is no reason or fundamental for oil going to 150. It will basically reduce a lot of demand. USD75-85 for this year is excellent. The best scenorio is we get a mild recession for this cycle to move longer.

1 week ago

kahhoeng

F**ked up company or f**ked up bursa, oil up and hibiscus down???

1 week ago

Ravetidus

@twynstar

Of course you can no longer buy at that price, there was a share consolidation exercise in 2023, stop confusing ppl

1 week ago

tbala

What type of counter is this when the price of oil reaches its peak and prudential investors acquire, company making profits and repurchase shares is going on but the share price is worthless in terms of investing?

1 week ago

Six6thsense

A test. The survival of the fittest.

1 week ago

paperplane

It could be a time to relook into this as IEA also expect some marginal deficit.
https://www.iea.org/reports/oil-market-report-march-2024

Output policy for the remainder of the OPEC+ bloc will be revisited when ministers meet in Vienna on 1 June to review market conditions. In this Report, we are now holding OPEC+ voluntary cuts in place through 2024 – unwinding them only when such a move is confirmed by the producer alliance (see OPEC+ cuts extended). On that basis, our balance for the year shifts from a surplus to a slight deficit, but oil tanks may get some relief as the massive volumes of oil on water reach their final destination.

1 week ago

Six6thsense

Be ambitious. TP 8.80

1 week ago

Sangranghaeyo

Then need to wait more than 3 years for it to hit 8.80 😆

1 week ago

Ravetidus

TP : RM3.00 end of this year

1 week ago

bose00

after 2.88, clear blue sky

1 week ago

soon9913

TP : RM3.1 end of this Month - Apr 24

1 week ago

soon9913

Sold another piece of land with RM80mil profit

1 week ago

Phoebe

Brent at 91+ and It's Fri'yeah..... @^_^@

1 week ago

witan

Lol this prudential day trader??

2024-04-01

Insider

Notice of new substantial holder - PRUDENTIAL PLC on 27-Mar-2024.

2024-04-05

Insider

Notice of ceasing to be substantial holder - PRUDENTIAL PLC on 03-Apr-2024.

1 week ago

pang72

Brent Oil
05/04
|
LCO
90.86
+0.21+0.23

1 week ago

witan

WTI n Brent today in deep red. Hopefully Hibiscus dont drop so much

6 days ago

EngineeringProfit

Wait to buy cheap........................DOn't rush

6 days ago

soon9913

now is cheap to buy lo, buy now before too late

5 days ago

soon9913

how likely you think iran will boom Israel?

5 days ago

twynstar

The Energy Sector Is A No-Brainer, but There’s More to Come
- Apr 08, 2024,



Morgan Stanley remains pessimistic about the U.S. stock market overall; however, MS has upgraded energy stocks to overweight from neutral, noting that energy companies have lagged the performance of oil, and the sector remains favorably valued. With a PE ratio of 13.4, the U.S. energy sector is the cheapest of the 11 market sectors.



https://oilprice.com/Energy/Energy-General/The-Energy-Sector-Is-A-No-Brainer-but-Theres-More-to-Come.html

4 days ago

Six6thsense

Ok. Thanks

4 days ago

wattsy

Someone bought large at the bell at 2.80.. any idea what happened?

4 days ago

kahhoeng

Ask bursa/SC to investigate and provide free report to public?

4 days ago

wattsy

I’m not complaining ;)

4 days ago

kakiminyak

Only investigate if it is going down. Going up we say Go! Go! Go! all the way!!!!!!!!!!!

4 days ago

daretocutandchange

armada last minute same situation as hibiscus ,is it possible both companies have corporate announcement ?

4 days ago

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