http://www.reuters.com/article/us-asia-oil-appec-trafigura/oil-demand-may-exceed-supply-by-up-to-4-million-bpd-by-2019-trafigura-idUSKCN1C10AM

But whenever I pump petrol, I see many cars in the Shell Station not at the Petron Station. I have been observing this scenario at many locations. Is the retail segment of Petron really doing well? I want to know more.

Tqvm sifu OTB. Sell gasoline in RM should be more than enough to offset RM denominated expenses.

Q1 when USD dropped 1.4% against RM, HRC made FX gain due to trade receivable in RM.
Q2 when USD dropped 2.9% against RM, HRC made FX losses due to certain RM denominated expenses.
Q3 will see USD drops further.

OTB sifu can you enlighten us why it is FX favourable to HY. Tqvm.

Don't think high oil price can sustain. Better oil price hovers at 50 to 60 per barrel. Good for everybody.

Refiners normally operate better in low crude price environment. Less volatile.
Here is the mitigating factor since crude oil price has shot up.
http://www.enanyang.my/news/20170926/%E4%B8%8E-opec%E6%AC%A1%E8%BD%AE%E7%AB%9E%E4%BA%89br-%E7%BE%8E%E5%9B%BD%E9%A1%B5%E5%B2%A9%E6%B2%B9%E4%B8%9A%E5%BC%BA%E6%94%BB%E4%BA%9A%E6%B4%B2/
美国于2015年取消原油出口管制，加上页岩石油产量激增，且国际油价站上每桶50美元，促使更多美国业者向海外寻求买主，重点是强化与亚洲炼油厂的关系。今年迄今，至少已对中国、日本及韩国共出口3800万桶，比2016年全年对亚洲出口量还多出6倍。

Having China independent refiner on board is good. Synergy on sourcing for cheaper crude.

https://www.japantimes.co.jp/news/2017/09/25/business/corporate-business/japans-cosmo-oil-evaluates-new-sources-crude-market-braces-new-standards/#.WcjQ2LIjHIU

Refiners in the world’s top oil-consuming region, including Chinese independent processors known as teapots, are sourcing more oil from across the world as OPEC-led output curbs limit the group’s exports and make barrels priced off Middle East benchmark crude more expensive than cargoes from other regions such as the U.S. and Europe.

https://www.platts.com/latest-news/oil/brussels/refinery-margins-to-benefit-from-low-product-26808915

http://www.thestar.com.my/business/business-news/2017/09/25/margins-of-refiners-petrochemical-companies-seen-improving/

I am puzzled.
Q1 when USD dropped 1.4% against RM, HRC made FX gain due to trade receivable in RM.
Q2 when USD dropped 2.9% against RM, HRC made FX losses due to certain RM denominated expenses.

Can someone explain. Thx

Bonus issue ex-ed

https://www.cnbc.com/2017/09/14/north-korea-conflict-could-cripple-these-oil-and-chemical-facilities.html

The area at risk represents about half of Asia's crude-refining capacity, or roughly 2.2 million barrels per day, along with much of the chemical production that supplies the region.

Morgan Stanley sees strong refining margins into 2020
in General Energy News 09/09/2017

Lower oil prices, strong demand and limited new refining capacity additions are expected to boost global refining margins to the end of the decade, Morgan Stanley said in a note.
Oil demand growth is expected to reach 1.4 million barrels per day (bpd) in 2018, similar to this year’s expected growth, Morgan Stanley said.
Crude oil distillation unit (CDU) additions are set to increase by 700,000-800,000 bpd next year, leading to a higher crude intake from existing refining capacity and stronger margins as a result.
New regulations aimed at lowering sulphur content in marine fuel from 2020 will further boost margins as demand for gasoil and diesel will grow.
As a result of the stronger outlook for refining, the bank upgraded Spain’s Repsol and Turkish refiner Tupras to ‘overweight’ due to both companies’ strong refining performance.
The bank maintained the existing ‘overweight’ rating for European oil majors Royal Dutch Shell and BP, whose downstream operations represent around 30 percent of cashflow.
Source: Reuters (Reporting by Ron Bousso; Editing by Edmund Blair)

Why IOI is selling its downstream business for RM3.9 billion now?
Is IOI bullish on upstream oil palm business? If true then good news.

You are right Esos is like a bonus the company P&L will be hit.
Why not if win-win! You need a team to scale the company higher and higher.

Another ex date on 19/9/2017. Great counter because the directors are willing to share. You have quarterly dividend payment, periodic bonus issue and increase in share price ... for those complain about issuance of new share via ESOS.

Today dividend entitlement ex-ed. But price up again to pre-ex level. Great counter!

CPO price up!
IDR strengthens against USD!
Unbilled property sales up!
Borrowing down!

Can't ask for more up except the price :-)

Petrol price up 4 sen! Refined products price up.

Both affordable housing developers but very different. 拍馬屁也不能趕上 Matrix Concept.

Unbilled sales set to go higher. Stay invested!
Melbourne property near completion. Profit will up.

Defending government a defense to the counter?

Still too rich yes too rich the valuation for yield investor.

If he is willing to sell his shares to institutional investors, do you think he will accept to receive lower dividend? After bonus issue he should at least be getting same, if not larger, amount of dividend.

Boring but it is value investing. Underlying assets are getting stronger with the completion of the MRT and the Kajang-Bangi flyover. With the good take-up rate in the TR Residence and North Shah Alam projects, the unbilled property sales are set to go higher. Plantation earnings are also set to go higher with higher CPO prices and higher production. IDR/USD had stabilised at 13,300 level. Its USD borrowings are being liquidated with the free cash flow from plantation. Its value is trailing Matrix with RM300 million gap, will be happy to see the gap narrowing.

Unbilled property sales are set to go higher. Stay tuned.

The disposal of shares is a sign of confidence to the company prospects. The acquirers are institutional investors who have managed to convince Dato Lee to sell down. Dato Lee is confident that his interest will not be diluted as the pie will get bigger. Kudos to Dato Lee!

Sell is always harder than buy.

Where to find.
Yield + growth.
Darling to institutional funds. Hold on and stayed invested.

Sell = Buy
Buy ≠ Sell

http://jakartaglobe.id/business/indonesia-palm-oil-output-exports-likely-fell-june/

From the Chairman .. Though our priority is to continue to
supply to the Malaysian market, we are
also evaluating opportunities to enhance
the value of several of our intermediate
product streams to strengthen our position
as a competitive refinery in the region.
This means moving products to the right
customers at the most suitable price,
whilst we exploit the partnership between
SHPC and HRC to capitalise on trade
benefits between Malaysia and China.
In addition, our central location in Asia
provides further options to grow the
business and diversify our product slate.

http://www.starproperty.my/index.php/articles/property-news/practical-hillpark/

More meaningful to find out WHO bought the shares sold down by Dato Lee.
Done through market so you need not go through the authorities.
Now who want to strong buy this property counter? He saw what we don not see! Great!

If you are working in a fund house. One moves before the Fund moves.

I've learnt the lesson. It is a journey. Stay invested.

Most institutional funds will not invest and will no longer have mandate to stayed invested.

https://sales.pr1ma.my/property/pr1ma-kajang-selangor-kajang/
Phase 1

First you have too rich the valuation which is set to correct sharply.
Second now that the expectation gap is wider because of the lousy terms signed in the SKIN.
Third you will have hell lots of uncertainties going forward during the implementation stage with the impending 1 billion debts.
Last don't think they can raise the 1 billion debts without raising equity. Creditors are not stupid the terms especially the financing cost will be adverse.

It is likely that this counter no longer meeting the investment criteria of institutional investors.

Q1 good results. Can sustain?

No period is good period no period is bad period.
This shows he is a reliable and respectable man. His doing is sustainable in nature.

So confident he is. Intention to trade shares during the closed period. http://www.bursamalaysia.com/market/listed-companies/company-announcements/5495405
All good signs.

No need to defend with share buyback. Deploying current resources for better use is more important.

I agree with traderx. Companies deal with government's contracts are hard to predict. These companies have always not been tested commercially .. not until at least with a government that has business acumen.

With the successful launch of Adira Terrace hilltop development in April, the sold out 269 units should have raised the unbilled sales amount for this quarter.

Droidnplay .. if the disposal of shares by Mr Lee to institutional investors could potentially enlarge the pie then why not. I believe it helps to raise the company's profile as well as liquidity of the shares. It is by all means that these investors believe the share price will up further.

Sharing is powerful.

Even at the price now, the valuation is still expensive with more than 100 times PE.
There are very few companies around in the Bursa with this type of valuation.
If you are willing to invest, why not go to tech stocks like Facebook, Alibaba, Google and so on.
There are too many uncertainties during the implementation stage. SKIN is not about high tech but only system reconfiguration and customisation. The more share buyback the more the selling.

You know is falling why not wait for another 20% fall to enjoy cheaper entry.
Never test the depth of the river with both the feet.

So many stuffs on the plate.
They need to borrow why spending money on the share buyback?
They are carrying big project isn't larger capital base is better ... at least to debts rating.
The share buyback definitely reduces its capacity to pay dividend. Good luck all.