VELESTO ENERGY BERHAD
KLSE (MYR): VELESTO (5243)
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Last Price
0.26
Today's Change
-0.005 (1.89%)
Day's Change
0.255 - 0.265
Trading Volume
34,012,200
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Discussions
28 people like this. Showing 50 of 24,043 comments
Some institutional take profit last couple weeks including HL bank, Manulife, Fidelity and etc. I saw some new IB (foreign bankers), take this opportunities and buy in during price drop. Hope price will rise back after this.
2 weeks ago
CGSI Research said Velesto’s rig schedule suggests that it could hit over 90% utilisation in FY25.
PETALING JAYA: Velesto Energy Bhd is building strong earnings visibility for its financial year ending Dec 31, 2025 (FY25) and FY26, says CGS International (CGSI) Research.
The research house said Velesto’s latest rig schedule suggests an 82% rig utilisation rate for FY24, given all six of its jack-up rigs have already locked-up their contracts, with potential to rise above 90% in FY25, and at least 85% in FY26.
As Velesto is bidding for FY26 work in today’s high daily charter rate (DCR) environment, there is potential to sustain high profitability for the next three years, it noted.
“The key uncertainty is for second half of this year (2H24), where Velesto will send three of its rigs (Naga 2,
“Naga 2 is contracted to drill for PETRONAS Carigali Sdn Bhd (PCSB) from Oct 2024 to Feb 2026; Naga 4 will drill for PCSB from Sept 2023 to Feb 2026; Naga 6 is contracted by PCSB from Dec 2024 to Feb 2026; while Naga 8 has been drilling for Carigali Hess since July 2023 and will continue until Oct 2025,” it said.The research outfit, however, pointed out that big gaps in the FY25 schedule are for Naga 3 and Naga 5.
But, citing data provider Riglogix, CGSI Research said Naga 3 may work for Indonesia’s national oil company PT Pertamina for two years commencing April 2025, while Naga 5 may drill for PTT Exploration and Production in Malaysia for two years commencing Dec 2024.
1 week ago
My expectation is Velesto should breached 50cents in 3rd Qr given 2Qr results will be surprising Good
Nothing Bad is announced as of today 30June. I think peak earning is in 2Q24
1 week ago
Hurricane in the USA is coming in n will be stronger which will disrupt oil prices which will see a need to do more drilling else where
1 week ago
volcano suda mau meletup? berapa lama lagi sindiket mau tahan...contra players pigi jauh2
1 week ago
Walaoeh, oil price spike up crazily !
Brent closed at=> $86.60 +1.60 +1.88 %
Like that today Velesto going to limit up already liao lah !
Heng ah, Ong ah, Huat ah !
1 week ago
Walaoeh, what happend ?
Super damn hot man Velesto today !
Now Velesto was traded at @0.275 (+0.01) (+3.8 %)
Heng ah, Ong ah, Huat ah !
1 week ago
Wow, Amazing !
Now Velesto was traded at @0.28 (+0.015) (+5.7 %)
Heng ah, Ong ah, Huat ah !
1 week ago
oil will surely breached $90---Israel / Hezbollah war impeding and USA summer Driving
1 week ago
Hong Leong and Maybank said 0.35. But 0.45 more logical with Hurricane Category 5 now attacking USA and Maxico oil facility can supply cutting by OzPEC members. Oil heading to $100 per barrel giving more money chance to Velesto. And the company now in black with more dividend payout to be given! Off you go, Velesto!
1 week ago
I feel like still not fundamental yet..velesto price rise due oil price sentiment. Hv to wait till 2d qtr.
1 week ago
KUALA LUMPUR (July 3): Hong Leong Investment Bank (HLIB) has advocated investors buy Velesto Energy Bhd (KL:VELESTO) on weakness, in anticipation of strong earnings in the coming quarters amid persistent jack-up (JU) rig crunch in Southeast Asia.
In a technical tracker note on Wednesday, the research house said that for the second quarter of financial year 2024 (2QFY2024), it expects Velesto’s JU rig utilisation to remain above 90%, with full-year utilisation projected at 85%, slightly higher than FY2023’s 83%.
“Additionally, the renewal of the umbrella contract with Petronas Carigali, featuring a higher daily charter rate of approximately US$140,000 (RM660,766) — up from US$100,000 — will contribute positively to Velesto’s earnings from 2Q2024 (second quarter of 2024) onwards.
“We project Velesto’s earnings to surge 89% in FY2024, with an additional 9.6% increase in FY2025.
“All in, we maintain a 'buy' call on Velesto, with a target price of 35 sen,” it said.
HLIB said that technically, Velesto is trading near its long-term support region of 25 sen to 27 sen with indicators showing uptick bias.
“A successful breakout above 28.5 sen will signal a new uptrend and spur the price toward 30 sen-32 sen-34 sen levels.
“Cut loss at 24.5 sen,” it said.
1 week ago
Wow! Petronas paying them DCR usd 140,000. I strongly believed they going to come out with excellent 2nd qtr result. 🚀🚀🚀
1 week ago
Walaoeh, what happend ?
Super damn hot man Velesto today !
Now Velesto was traded at @0.29 (+0.01) (+3.6 %)
Heng ah, Ong ah, Huat ah !
1 week ago
Last Qr average day rate is $107,000 per day----So increase Per rig is RM145,200 X 76day (per Qr assuming 85%
run-time )----Per Rig based on $140,000 is RM 11,107,800 Extra compare to last 1Q24
How many Rigs get $140,000 Day Rate?? Your Guess is as Good as mine----I say 3 out of 6 Rigs Or another
Rm33 mil revenue extra for 2Q24----As i say 2Q24 is Good---very Good
1 week ago
Veleslow Lousy ,so stubborn always pull back to 265,when want jump to moon..perdana make me few round already
6 days ago
Sometimes Velesto really tests our limits. But I always persuade myself by saying, 'No matter is their day, tomorrow might be Velesto's day.' I still believe (no doubt on that) that once it starts giving you, it's going to be unlimited.
Question is when????
Sabar.Cool 😎
5 days ago
I just put 1k unit for TP 0.265 🤣then same like parkson liao. Hopefuly pak tua comingg tut tuttt
5 days ago
sigh last time I enter both perdana and velesto at 21.5sen. Took profilt from perdana and buy velesto at 31.5sen.
This f*ckka stuck 25-30sen since making me missed all the opportunity at perdana.
4 days ago
Velesto Energy Berhad had debt of RM350.3m at the end of March 2024, a reduction from RM565.6m over a year. However, because it has a cash reserve of RM159.7m, its net debt is less, at about RM190.6m.
4 days ago
According to the last reported balance sheet, Velesto Energy Berhad had liabilities of RM427.3m due within 12 months, and liabilities of RM236.4m due beyond 12 months. On the other hand, it had cash of RM159.7m and RM424.8m worth of receivables due within a year. So it has liabilities totalling RM79.3m more than its cash and near-term receivables, combined.
Of course, Velesto Energy Berhad has a market capitalization of RM2.26b, so these liabilities are probably manageable. But there are sufficient liabilities that we would certainly recommend shareholders continue to monitor the balance sheet, going forward.
We use two main ratios to inform us about debt levels relative to earnings. The first is net debt divided by earnings before interest, tax, depreciation, and amortization (EBITDA), while the second is how many times its earnings before interest and tax (EBIT) covers its interest expense (or its interest cover, for short). This way, we consider both the absolute quantum of the debt, as well as the interest rates paid on it.
Looking at its net debt to EBITDA of 0.45 and interest cover of 5.4 times, it seems to us that Velesto Energy Berhad is probably using debt in a pretty reasonable way. But the interest payments are certainly sufficient to have us thinking about how affordable its debt is. Notably, Velesto Energy Berhad's EBIT launched higher than Elon Musk, gaining a whopping 937% on last year. There's no doubt that we learn most about debt from the balance sheet. But ultimately the future profitability of the business will decide if Velesto Energy Berhad can strengthen its balance sheet over time.
4 days ago
Warren Buffett famously said, 'Volatility is far from synonymous with risk.' When we think about how risky a company is, we always like to look at its use of debt, since debt overload can lead to ruin.
4 days ago
Walaoeh, what happend ?
Super damn hot man Velesto today !
Now Velesto was traded at @0.275 (+0.005) (+1.9 %)
Heng ah, Ong ah, Huat ah !
2 days ago
Some IB give bad coverage on Velesto. Same issues brought forward again and again. This gives a negative impact on share price. Actually, the middle east suspended rigs nothing to do as Velesto have already secured solid contract with Petronas till 2025. Very sad to see certain IB purposely downgrade Velesto.
Armada and Perdana get the credit...
1 day ago
It's stressful to see Velesto lagging like this. But remember this famous quote: Be fearful when others are greedy, and be greedy when others are fearful. Velesto is being cursed and feared by everyone, despite the fact that they have a strong track record for revenue. The exact time to collect and hold until the time comes. Agreed, it might be late, but you will be rewarded big.
21 hours ago
Opportunity to buy cheap. Must be good 2nd quarter, IB spreading negative news to collect. Setting the stage for tapau ikan bilis.
9 hours ago
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