VELESTO ENERGY BERHAD

KLSE (MYR): VELESTO (5243)

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Last Price

0.29

Today's Change

+0.005 (1.75%)

Day's Change

0.285 - 0.295

Trading Volume

87,924,300

News and Blogs
Discussions
27 people like this. Showing 50 of 23,806 comments

Macgyver111

This is something to consider
They issued ESOS on 1 nov 2019, exercise price 0.33 (tranche 1) and 6 Nov 2023, exercise price 0.23 (tranche 2).

2 weeks ago

Gentingbig

i want to cut loss as i need fund to buy sign. i miss this opportunity 2 weeks ago when a friend a fund manager told me to enter at 0.955. yesterday again he say collect at 1.30 as TP now 2.00. what do you all think of SIGN

2 weeks ago

Gentingbig

I got fed up of velesto as foreign fund brought a lot a lot so i jump in the wagon but already 2 weeks and no action at all. to stay or to get out i am thanking since yesterday.
indeed its foreign fund collection
1:46:51 0.275 500,000
11:46:51 0.275 500,000
11:46:48 0.275 3,364,200
11:46:39 0.275 500,000
11:46:38 0.275 356,500
11:46:38 0.275 500,000
11:46:37 0.275 500,000
11:46:37 0.275 500,000
11:46:37 0.275 500,000
11:46:36 0.275 500,000
11:46:34 0.275 50,000
11:46:34 0.275 30,000
11:46:34 0.275 550,000
11:46:33 0.275 27,200
11:46:33 0.275 500,000
11:46:33 0.275 500,000
11:46:33 0.275 500,000
11:46:33 0.275 500,000
11:46:33 0.275 500,000
11:46:32 0.275 500,000
11:46:28 0.275 500,000
11:46:28 0.275 500,000
11:46:13 0.275 +0.005 500,000

2 weeks ago

jenabchen123

Good price to continue kutip

2 weeks ago

TurkeyFig

When can 30sen?

2 weeks ago

jacintateh

slow but stable stock. wait for dividend on 24/5/24

2 weeks ago

RJ87

U guys better go Genting.

2 weeks ago

RJ87

buy today expect up tomorrow. Better go genting. No need wait a day. 30seconds will know if u make 100% or lose 100%

2 weeks ago

Gentingbig

RJ you are right lah the thumb of rule when playing shares...make sure the fund are spare money which one can afford to just park it there for 1 or 2 years if come the worst. but then the profit gain mustt be more than bank FD

2 weeks ago

Macgyver111

In velesto you no need to wait for 2/3 year. Explosion around corner (after dividend). As long higher crude oil price, we're pretty much safer here. All you need is patience.

2 weeks ago

Gentingbig

THANKS thanks i sold a lot of epicon yesterday so got fund to load more velesto. i am confident now as i just read kenanga analysis report on this counter beside reading all contributors posting on this forum

2 weeks ago

Gentingbig

just read Publicinvest
Velesto Energy: Gets contract extension for three jack up drilling rigs to Petronas Carigali. Velesto Energy’s subsidiary Velesto Drilling SB has received a two-year contract extension for use three of its jack up drilling rigs Naga 2, Naga 4, and Naga 6 from Petronas Carigali SB. The company said inclusive of its current drilling campaign assigned between 2023 and 2024, the jobs are worth a collective RM1.25bn (USD265m). The contract extension starts on 7 Feb, 2024, and runs until 6 Feb, 2026, Velesto said in a filing to Bursa Malaysia. Velesto said the contract's extension highlights strong utilisation of Velesto's rigs for 2024.

2 weeks ago

jenabchen123

Next week kasi kutip lagi. No brainer if not continue kutip

2 weeks ago

Gentingbig

make no sense got volume but price stuck at .27 cents for so blady long time. am losing my patience but then cannot bear to cut my losses

1 week ago

hzboi

Oil price go down, Velesto price go up. This stock makes no sense.

1 week ago

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

Daily charter rate near all time high.
High deployment of almost all their jack-up rigs.
Reported big free cash flow in latest results.
Distributed a dividend after many years of zero dividends.
Turnaround. Price has risen 100% from its lowest.

Cyclical business directly related to oil price.
Oil price is projected to be high for the near term.
Sustainability? Stability? Dependent on Petronas for contracts.
Focus on long term contracts. Revenues and profits visible for the next 2 years (2024 and 2025) for now.

1 week ago

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

How to improve return to shareholders?
Utilisation rate is now 85%, where is the growth?
M&A? Rigs are very expensive. Not looking to increasing the number of rigs.

Can EBIT margin of 4th qtr of last year be maintained?

Short charter rate versus long term charter rate are different.

Presently, the situation is everyone wants rigs!

1 week ago

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

Is Velesto price fully valued?
It is more expensive than other comparables.
Sustainable returns to shareholders? Little growth going forward.

How to bring value to shareholders? No plan for inorganic growth.

O&G is cyclical. Stay in upstream. Looking into production space. Operating expenditures only, not heavy capex needed. More sustainable. Must be asset light (based on recent past experience, victim of recent downturn in O&G).

Future: Focus on Asset light and Production.


Jaguh kampong! Dependent on Petronas (eg Sapura Kencana, others)
All 6 rigs operating in Malaysia. Is it able to compete internationally?






1 week ago

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

Today, Velesto is performing. Challenge - how to get to net carbon zero? How to invest into renewables? No plan for now.

1 week ago

Gentingbig

so now what is your summary...to load or to unload?

1 week ago

Gentingbig

1st first comment positive but your 2&3 comment contradict your 1st so conclusion need to hold long term as of now this stock performance dont look good. is confusing lah

1 week ago

SinGor

https://oilprice.com/Energy/Energy-General/Deepwater-Exploration-Is-Booming-Again.html
___________________________

Saudi cancelled Jack-Up Rig Contracts but the Whole Industry wants Jack-Up Rigs

1 week ago

Lewis Lee

TP = 40ct soon !!

1 week ago

Lewis Lee

KUALA LUMPUR (May 8): Offshore drilling firm Velesto Energy Bhd (KL:VELESTO) is expected to report that its net profit may more than tripled in the first quarter (1Q) from a year earlier with all of its rigs utilised, Maybank Investment Bank said.

Net profit will likely come in at RM45 million-RM50 million for the three months ended March 31 when the company announces its results on May 23, Maybank IB said in an earnings preview note. That compares to RM14.22 million in 1QFY2023 and RM66.7 million in 4QFY2023.

A drilling job with a daily charter rate of about US$165,000 (RM781,536) won by another company indicates that the market is still currently “very tight” and rates are still rising, Maybank IB said. “Local drilling outlook is still robust, in our view.”

Shares of Velesto have climbed nearly 20% so far this year amid optimism that elevated oil prices will further boost demand for its services, and analysts broadly think there is more upside to the company valued at over RM2.2 billion on Bursa Malaysia.

A majority of seven out of eight analysts covering Velesto have "buy" calls on the stock and only one "hold" rating. The consensus 12-month target price is 33 sen, suggesting a further 18% gain from current prices.

Still, the stock has been under pressure since April amid concerns that Saudi Aramco's broader suspension of jack-up rigs may prompt owners to send their idling assets elsewhere and pressure charter rates.

Velesto announced in March 2024 that it has secured contract extensions for Naga 2, Naga 4 and Naga 6 for the next two years while its Naga 8 is contracted till October 2025. That leaves only Naga 3 and Naga 5, which according to Velesto, are in bids and negotiations for contracts till end-2025, Maybank IB noted.

“With that, we conclude that Velesto is pretty much shielded until then, as all of its rigs will be fully utilised for the next 18 months,” Maybank IB noted. Utilisation rate will likely come in at 94% with an average blended daily charter rates of US$98,000, according to Maybank’s forecast.

Maybank IB added that it is confident that Velesto will continue to show earnings growth over the next two years.
Source: TheEdge - 9 May 2024

1 week ago

jenabchen123

Tutup mata kasi angkat saja. Dont let institutional only making money, we retail can join this wild party too. From losing money to now making huge money. No brainer if not joining.

1 week ago

ronaldotheGOAT

buy velesto below 0.30

1 week ago

azfar8

Ok, I buy now.

1 week ago

Ninja _07

Ok I buy now also

6 days ago

Lewis Lee

I think the next Q result will be another surprise !! 0.35 to 0.40 is within reach !!

6 days ago

SinGor

waiting for Bull-Run----When everybody just want to Buy and donT want to Sell

6 days ago

Baby Shark

Be careful when 0.35-0.40.. time to make money

5 days ago

liferosak

tp 0.5

5 days ago

hzboi

Ok I tambah now. Hopefully sharks done collecting and this start to go up

5 days ago

Gentingbig

singor but notice seller now more then buyer now . although key in from morning .285 also yet to be done

5 days ago

jenabchen123

Too long queue at 285. Just grab at 0.29 for not taking risk missing the predicted bull

4 days ago

Macgyver111

Qtr around corner..going to burst soon. After the qtr believed more institutional join in (waiting for EPF). When we call buy @ 0.15, many newbies shouting...then velesto break 0.20 floor. Now we asked collect below 0.30, many shouting again said lousy stock..after break 0.30 NO return back...don't miss the boat.

3 days ago

Gentingbig

have been keeping this counter for almost 2 months. everyday also got volume but price stuck there from 0.27.5 to 0.29 every day. no doubt one day it will perform but with money stuck for months then have to say there are other profitable counter to trade

3 days ago

SinGor

Bull Run will certainly starts next week Before Q results---Main reason is Result is predictable ( i already said
last Qr ) Alot Bankers are just rubbing their hands to lay Bets ( Bankers are too conservative to be FOOLED )
I think this Run will last atleast One Month depending whether Foreign Funds are jumping in or Not----
In this Case, you will see Tsunami on Both Directions ( scary ---worst than Genting )

2 days ago

RJ87

Just now witness around 5million sell queue evaporated when another big gun sapu 6-7million shares.
Now waiting manipulator to uncover the lid.

11 hours ago

Lewis Lee

get ready for surprisingly good QR to be announced soon !!!!! 👍

11 hours ago

hzboi

Unless big bank is suppressing price to collect more, crude have maintain mostly above 78-85 range, my guess is that QR should be good. Last dividend was peanuts, if they suddenly surprise another one… good chance 🆙

11 hours ago

SinGor

as i said, buyers are not pasar malam shoppers-----they buy in millions

11 hours ago

liferosak

so...tp..?

11 hours ago

SinGor

donT look for Tp, just in-out for small profit---you cannot fight Mike Tyson---Billions FF returning for
Malaysia State Fund---now parking has nothing to do. People donT park Billion in Banks, everyday
interest in Hundred of thousand

11 hours ago

hzboi

The main problem with Velesto is the lack of expansion. How are they going to grow more aside from their current rigs? But as long as oil is above $80, they can reduce their preexisting debt and increase in cash flow. My hope is that Velesto can find ways to expand and not just be a boring rig company.

10 hours ago

SinGor

Daily charter rate is growing every Qr. How come you didnT see grow??? You want new ship to expand, you need RI and Bank Loan ( which Bank will loan you a New Ship, given Oil demand will keep falling after 10Years )
Velesto is harvest Hay when there is still SunShine

9 hours ago

Gentingbig

i offload all of my 800000 lots at breakeven as fed up of waiting for 1 month without any rpogress at all. i brought at .275 when i notice foreign fund buying spree . anyway no regret as i switch counter to epicon and mbsb and uems . i can make money just within 2 days

44 minutes ago

Gentingbig

with so high volume today if will reload at .28 if i can

43 minutes ago

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