KLSE (MYR): HIBISCS (5199)
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Last Price
2.72
Today's Change
0.00 (0.00%)
Day's Change
2.69 - 2.75
Trading Volume
2,859,200
T4Q
31-Mar-2021
2020
31-Mar-2021
2019
31-Mar-2021
2018
31-Mar-2021
2017
31-Mar-2021
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
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
2 weeks ago
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…
2 weeks ago
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….???!
2 weeks ago
Prudential been buying, guess they know how to massage the price so they can buy cheap?
2 weeks ago
oil prices continue to rise
https://www.cnbc.com/2024/04/01/crude-oil-prices-today.html
2 weeks ago
brent crossed 88 and Hibiscus still not moving? Prudentail so good at this game or or not buying so no buyer???
2 weeks ago
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.
2 weeks ago
@twynstar
Of course you can no longer buy at that price, there was a share consolidation exercise in 2023, stop confusing ppl
2 weeks ago
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?
2 weeks ago
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.
2 weeks ago
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
Very unlikely, soon9913
https://www.jpost.com/israel-hamas-war/article-795866
1 week ago
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
1 week ago
Only investigate if it is going down. Going up we say Go! Go! Go! all the way!!!!!!!!!!!
1 week ago
armada last minute same situation as hibiscus ,is it possible both companies have corporate announcement ?
1 week ago
Oil market continues the uptrend
https://www.freemalaysiatoday.com/category/business/2024/04/12/oil-resumes-gain-as-israel-prepares-for-potential-iran-attack/
5 days ago
Get ready for another round to ride above 2.90....huat huat again later
2 days ago
Gosh… when are Hibiscus going to defend the stock gains and protect share value and long term shareholders… pump and dump again
1 day ago
Six6thsense
Peaceful world soon and no need to prepare for the war.
4 weeks ago