VELESTO ENERGY BERHAD

KLSE (MYR): VELESTO (5243)

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Last Price

0.295

Today's Change

+0.03 (11.32%)

Day's Change

0.29 - 0.315

Trading Volume

148,035,700

Discussions
27 people like this. Showing 50 of 23,550 comments

RJ87

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.

21 hours ago

Huangbk72

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.

21 hours ago

Felix888999

Thick face Auntie Huang still continue arguing with her dumb assumptions.

I stop here. Auntie Huang Go back to Sapura to argue.

8 minutes ago

RJ87

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

20 hours ago

RJ87

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.

20 hours ago

specializedvenge

Omg.... Highest profit since 2014

15 hours ago

SinGor

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

1 week ago

Felix888

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!

15 hours ago

Lewis Lee

Tomorrow limit Up !! Hopefully ! 🤣

15 hours ago

Felix888

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. 😭😭😭

1 week ago

Lewis Lee

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 !!

15 hours ago

SinGor

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 )

15 hours ago

Felix888

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.

15 hours ago

Balian de Ibelin

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

1 week ago

Felix888

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

15 hours ago

Felix888


Thank you for your comment here!

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

Dividend declared. Turnaround stock

15 hours ago

RJ87

Singor the best

14 hours ago

Felix888

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

14 hours ago

Felix888

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。

14 hours ago

Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥

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.

14 hours ago

Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥

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.

1 week ago

Macgyver111

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

13 hours ago

Macgyver111

After 10 years another huge profit.

18 hours ago

Felix888

QoQ profit up 5500%✌✌✌✌

12 hours ago

serpent100

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

12 hours ago

RJ87

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

11 hours ago

RJ87

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.

11 hours ago

Felix888

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.

11 hours ago

sgrs33

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

10 hours ago

mike767879

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

3 hours ago

SinGor

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

1 hour ago

Felix888999

Sold 1 batch 0.295 which I queued before CNY.

Belated Ang Pow!

1 week ago

Felix888999

Wow break 0.30 finally!!

1 week ago

Felix888999

Maybank TP 0.35

0 seconds ago

MrHuangBK

Auntie Felicia

U slander and now you have to prove

The bet is standing in Jaks thread or you want me to post here ?

Don’t be like Miketikus.. runaway all the time

1 week ago

Lewis Lee

TP will be raised to 0.40 soon !!

6 days ago

Lewis Lee

TP will be raised to 0.40 soon !!

53 minutes ago

Xcalibre

Go go go… medium term TP rm0.5

52 minutes ago

RJ87

big boys come to support at 30sen

50 minutes ago

Felix888999

Queue sell 2nd batch 0.315. ✌✌✌

48 minutes ago

Expertise

The game just begin ,I take my 200% profit first…hehe.

5 days ago

RJ87

jialat…bo lat liao… hahahha

11 minutes ago

Felix888999

You must be bought this during Covid period. Watched other people made huge profit in Gloves but this guy just not moving.

Now finally stand above 0.30, Congratulations!!! Worth for 3 years waiting!!

Posted by Expertise > 4 minutes ago | Report Abuse

The game just begin ,I take my 200% profit first…hehe.

23 minutes ago

MrHuangBK

Hahahah.. auntie Felicia still avoiding the bet..

Proven slanderer ? 😂

22 minutes ago

RJ87

Huang, go find a crack somewhere on wall and place ur e-penis there.
Really no one interested.

32 minutes ago

RJ87

So hai dy. Sold 26.5 and buy back 30sen. ahhahha

16 hours ago

RJ87

Sigh, only time tell if it’s a good or bad move.

0 seconds ago

Expertise

@Felix888999 worth it ….congr8 to you too

0 seconds ago

MrHuangBK

Hahahah.. auntie Felicia still avoiding the bet..

Proven slanderer ? 😂

5 minutes ago

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