VELESTO ENERGY BERHAD

KLSE (MYR): VELESTO (5243)

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Last Price

0.29

Today's Change

-0.005 (1.69%)

Day's Change

0.285 - 0.305

Trading Volume

81,777,100

Corporate Figure or Shareholder
Discussions
27 people like this. Showing 50 of 23,852 comments

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.

4 days 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

4 days 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

4 days ago

Gentingbig

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

4 days ago

Macgyver111

Wou! Genting should be filthy rich ho!..800,000 lots man.
New shareholder..

4 days ago

Ninja _07

800,000 lots is 800,000,000 units. Then @Gentingbig must be the biggest shareholder. hahahahhaha

3 days ago

SinGor

Old timer like ME, One Lot is 1000----Genting with 800,000 Lots is SECOND velesto biggest shareholder---
No harm doing some Bragging Rights----Nobody Cares----Every Body for HIMself only

3 days ago

necessity

they(USA) keep pressing the price lower prior election till NOV..so i ll wait a lil bit till come to the right entry price.. its a patient game for me..

3 days ago

SinGor

looks like today will Closed at 0.30000

3 days ago

Gentingbig

what bragging are you calling out at ??? i cut my losses at breakeven . i brought 800000 untis which is only equivalent to 80 lots right .

3 days ago

Macgyver111

Excellent qtr coming. Get ready..

3 days ago

junetan11

maths not good, do investment will rugi or not?

3 days ago

TonyHandsMan

Last week to get below 0.30

3 days ago

RJ87

last time/old timer time 1 lot - 1000 shares
current 1 lot - 100 shares

So u 800,000 shares either 800 big lots or 8000 small lots.

Anyway, like singor said, it’s pointless to tell anyone how much u have unless u just to brag.
Later singor come say I hold 2000-3000 big lots also haven’t make noise. Ur 800 big lots already holler here and there.
———————————————
Gentingbig
what bragging are you calling out at ??? i cut my losses at breakeven . i brought 800000 untis which is only equivalent to 80 lots right .

3 days ago

RJ87

Sell already don’t come back…geksim only later

3 days ago

SinGor

Either Tomolo Or Friday Results Out----my guess is 5--15% Higher than Last Qr......But real Deal is 2 Qr results
due August ( much higher DayRate ) So I said Trading Volume will be much higher bcos Institution Buyers will Lock-in after this Qr result and Sell next Qr ( you will see massive promotion by Banks )

2 days ago

azfar8

Still can add some more this VELESTO? bought at 0.265... because PERDANA is up 10% currently after positive quarter results.

1 day ago

hzboi

Ini kalilah. Kasi up

1 day ago

Macgyver111

Perdana with 6mil profit can shot up to 0.40. I think Velesto can do better if upcoming qtr result exceed the preceding qtr. Good luck all.

1 day ago

SinGor

Interesting ---Perdana Hit 40cents----Although Velesto NOSH is 8 bil But many, many Real investor are trapped
above RM1.0 bcos previous goreng was RM4.0

1 day ago

azfar8

If we always talk about past events, better not doing anything. why not mention topglove at the prime time almost RM30? it's better for them to close their business? As an investor, dont trapped in cognitive dissonance bias, look at the improved quarter results.

1 day ago

jenabchen123

Vroooooommmmm! To 40 sen for immediate target

1 day ago

mistaFAD

Mcm mau hold lagi…hahaha sabar gais

1 day ago

Neoh10855

...

1 day ago

Macgyver111

Net profit 46.8mil.

1 day ago

jenabchen123

Wow! Banyak tu to be shared with investor. Fat dividend is mari!

1 day ago

Macgyver111

KUALA LUMPUR (May 23): Velesto Energy Bhd's (KL:VELESTO) first quarter net profit more than tripled year-on-year, driven by higher utilisation and average daily charter rates for jack-up rigs.

Net profit for the quarter ended March 31, 2024 (1QFY2024) rose to RM46.81 million or 0.57 sen per share, from RM14.22 million or 0.17 sen per share a year ago, according to the offshore drilling rigs and oilfield services provider.

The group, which is 41.7%-controlled by Permodalan Nasional Bhd, said revenue grew 18% to RM338.58 million from RM287.25 million in 1QFY2023.

“We expect overall global utilisation of jack-up rigs to remain strong for 2024/2025. However, the jack-up drilling rig market may experience uncertainty. The group is monitoring the current situation in the Middle East for its future bidding strategy, especially for mid-2026 onwards,” Velesto said in a stock exchange filing.

The group said its utilisation is expected to remain high in 2024, with all six of its jack-up drilling rigs contracted.

Three of Velesto’s jack-up rigs — NAGA 2, NAGA 4, and NAGA 6 — have been contracted until 1QFY2026, and NAGA 8 up to 4QFY2025. Meanwhile, NAGA 3 is contracted up to 4QFY2024 (inclusive of options) and NAGA 5 up to 3QFY2024.

“The group is actively bidding for new tenders for local and international contracts for activities to be performed in 2024, and up to 2026 and beyond,” it said.

“At least three of our rigs, namely NAGA 2, NAGA 5 and NAGA 6, are expected to commence their five-yearly Special Periodical Survey in 2QFY2024, 3QFY2024 and 4QFY2024 respectively,” it added.

Velesto said 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 (capital expenditure) 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,” it said.

Shares of Velesto closed half a sen or 1.7% to 29.5 sen on Thursday, giving the group a market capitalisation of RM2.42 billion. The stock has climbed 29% year-to-date.

1 day ago

Lewis Lee

Tomorrow limit up ! Hopefully 🙏🙏

1 day ago

SinGor

I can only afford Bak Kut Tay tonight----Result---not full not hungry ( cukup makan only
Investment wise, PNB should be please---Expect about 200++mil per year ( next 2years )
One billion injection, Return in 4 years excluding Covid period

1 day ago

Six6thsense

Good not good not good good

1 day ago

SinGor

Really depends on who you Talk to----One Taiko says last year 7--9mil people started shouting. Now 46mil
you said just eat Bak Kut Tay

1 day ago

mistaFAD

Feel free to share tp tomorrow guys

1 day ago

Macgyver111

Hahaha..as usual sindiket will off-load ( including some foreign IB)... or they might not. Sometimes this medium sharks bet on qtr to take quick profit. Good news is last profit and recently announced qtr profit, consider the highest profit since 2018...since PNB took over Velesto. This might give good coverage from press/IB.

1 day ago

Gentingbig

Honestly when those shark which happen to be foreign start collecting velesto its at .27cents so i jump in at .275 . i held it from 16th april till 17th may. i simply cannot wait anymore as everyday also got tips. i just dont understand volume traded so high everyday yet the price just stuck in the rug without any movement until today only!!

1 day ago

Gentingbig

i get rid of it all at almost break even .275 to .28 as i decide to cut my losses. tomorrow i will load some to recover my losses hoping it wont let me down again

1 day ago

jenabchen123

Early bird first catches fatty worm today. Limit up highly likely? Vrooommm Velesto today!

1 day ago

hzboi

Triple revenue is great news!! Likely will still have a few more good quarters due to rigs being contracted till 2024. Unless we have another pandemic, oil prices should be relatively stable for a while. Traveling + inflation should help price to remain 70-80 range. Any war news from Middle East can trigger oil to go up. Malaysia is blessed to be in a conflict free region too. I will TP some today and hold some to invest long term. It helps to have a lower average + company have dividend now.

I await to hear news on 2025-2026 rig contracts before I decide to sell. I hope everyone that invest in this company will have a good day today!

1 day ago

azfar8

Deym, i should have add more into this instead of spread capital in gloves yesterday. hopefully can get 0.30 cent or below today. already topup some peanut capital, this one is to be hold in years.

1 day ago

jenabchen123

Now cannot sell all. Must hold on for long term on the triple profit news for only 1 quarter. That quarter rigs are still not fully utilised and some at previously low fee contracted job. Imagine income for coming quarters until next year 2026 when rigs are now fully mobilised at new handsome rate!!! Don't be buta!!! Ini kali lah if mahu tibai this kaunter. 40 sen is no brainer. This should shoot up above 1 ringgit very very soon. Let us wait the analysts keep upgrading the target price going forward very very soon.

1 day ago

jenabchen123

Give them more money to buy more Nagas! Let them conquer South China Sea.

1 day ago

jenabchen123

Genting ig, you play Velesto like gambling la. Only short short position. Nanti lu kayap but broking house yang kaya. Not too short la if counter got foundation story.

1 day ago

Neoh10855

Weakness.. 😮‍💨

1 day ago

azfar8

Broking house kaya? not with brokerage fees already as low as rm1. alas, i am not that big fan that kind like limit up all the ways, limit up is just a bonus, not everyone got it, got that? haha... but i am happily bought at below 0.30 cent, not all in, but with still within my limit, within my suitable position sizing...with the one i bought earlier, my average is still below 0.28.

1 day ago

Neoh10855

Lousy stock.. Bye bye

1 day ago

hzboi

high volume but no movement, classic velesto price action. those who invest this counter long enough are numb to this already. i thought that it will limit up.. but i am patiently waiting for shark to show up somehow.

23 hours ago

azfar8

Bye but wish me win here, good luck to you on other counter, if you got find a good companies that have potential, please share

23 hours ago

Rehan

Hi jenabchen123

What is the blended current day rate and what will be the day rate after revision and when will they come into effect? Thanks

23 hours ago

mistaFAD

Slow due to div today ka…

23 hours ago

SinGor

2 Buyers to every seller----Afternoon Or Monday Bankers will push Back----40cents is still Not Off-Limit yet

21 hours ago

RJ87

I always trust singor judgement…although estimate profit off abit..but I still trust u

20 hours ago

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