VELESTO (5243): Substantial Holder Shares Transactions

again disappointment as was told once ex usually they will start to push as most company will want to collect some dividend money for the pay out. but then no show. sighnnnnn

2 weeks ago

paktua your zantat performing now as monday was told to enter this stock but i was feeling shaky lah affected by the Imiddle east tension .on monday friend also ask to to buy Sign which i also ignore.

2 weeks ago

It will go down, but I don't think drastically. The reward is too small.. just like a small token for those long term holders (IB, institutional, etc.). Yesterday ex-date, let see today..

2 weeks ago

Oil price inching up to usd 90 again. Good for DCR. Hope velesto get usd150k to 160k per day.

2 weeks ago

We can see more dividend this year.

2 weeks ago

so guys can we see light at the end of the tunnel for this counter . i simply brought 100000lots just becos i see foreign investor brought in big quantity without know why. haha i blindly jump in

2 weeks ago

hzboi

This counter all volume but no movement. Always on the active list but tido

2 weeks ago

Lewis Lee

always ...... VERY SLOW !!! 😴

2 weeks ago

WILLIAM203

‘Major’ oil player books jack-up rig for drilling gig offshore Qatar - Offshore Energy
https://www.offshore-energy.biz/major-oil-player-books-jack-up-rig-for-drilling-gig-offshore-qatar/

1 week ago

Bleh

gg counter

1 week ago

Eeveryday high volume every day seller more then buyer.....worst MQ signal recommended sell sell. this kind of direction ...can see light at the end of the tunnel meh?

1 week ago

This is given game hence not sure why buyers hesitated. The company is surely making come back. All jacked almost fully booked to give them maximum income from high oil price. Only 1 sore analyst making small kiddy theoretical story. But as far as Volante, it will be a smooth ride with certainty of huge profit with some to be shared as dividend. No reason to wait when price still cheap.

1 week ago

Velesto still a good company..roce improving. You need some patience to reap the benefit.

https://finance.yahoo.com/news/velesto-energy-berhad-klse-velesto-053617324.html

1 week ago

TonyHandsMan

Collect below 0.30

1 week ago

ronaldotheGOAT

40sen coming for velesto

1 week ago

really or not as i already collected 900000 lots and feeling jittery now. though of cutting loss half of it

1 week ago

Ninja _07

Wow... @Gentingbig .. looks like you're a majority shareholder. That's 90,000,000 units of shares you're holding!

1 week ago

Ya I'm thinking the same. 1 lot 100 if 900,000 lots = 90,000,000 mil shares. Wow! Kaya lor.

1 week ago

What in annual report guys. Pls share ?

1 week ago

Ok. Annual report as usual, nothing extraordinary. Only thing I noticed DCR improving from usd77 to usd 94/day (still lower compared with other southeast Asia). They achieved rigs utilization 83% far better than previous year. Order book stood at 1.7 bil.

1 week ago

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).

1 week ago

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

1 week ago

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

1 week ago

Good price to continue kutip

1 week ago

TurkeyFig

When can 30sen?

1 week ago

jacintateh

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

1 week ago

RJ87

U guys better go Genting.

6 days 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%

6 days ago

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

6 days ago

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.

6 days ago

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

6 days ago

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.

6 days ago

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

5 days ago

https://paultan.org/2024/05/06/shell-said-to-be-in-talks-to-sell-its-entire-malaysian-petrol-station-network-to-saudi-aramco-report/

Wonder why not Petronas take over this offer..😆😄 Velesto mesti pecut punya.

3 days ago

Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$â¬Â£Â¥

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

2 days ago

hzboi

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

2 days ago

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 day ago

Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$â¬Â£Â¥

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 day ago

Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$â¬Â£Â¥

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 day ago

Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$â¬Â£Â¥

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

1 day ago

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

1 day ago

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 day ago

https://www.businesstoday.com.my/2024/05/08/velesto-drilling-down-to-a-better-quarter/

1 day 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 day ago

Lewis Lee

TP = 40ct soon !!

1 day 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 day ago