Just beware of con man preying on retailers !

Just be careful of sharks swimming in the market.

Beware of sharks swimming in the market! You may be eaten up .

Brent drop another $2 to $93! Brent will go to $60 , the pre pandemic level .Uncle koon writing to lure you to take over his hot potatoes. Dump your shares while price is still good .

Plan to appeal to SC is the usual thing to do . Meanwhile, the management may resort to share buybacks at cheap price to take up shares of impatient investors. Very cheap to buy back at $1.50 for the benefit of SA eventually.

Now deal is completed and money is in , share buybacks shall starts …

Ya. Interim dividend 5sen to be paid this month . I guess there will be good final dividend?
40sen capital repayment in Oct or Nov as soon as the court approved it.

Brent drop $10 just in 2 days !

Ular, kau punya kawan baik MM sudah lari dari Hib…
Buat apa kau datang balik …. Hahaha

Posted by MoneyMakers > 38 minutes ago | Report Abuse

Anyway oil price dropping hard (WTI usd97 tuesday - now crazy drop below usd90 again @ just 2days)

Ular, ini MM bagi tahu punya.
Haha

Posted by UlarSawa > 2 hours ago | Report Abuse

If that the case why 60sen. why not 70sen or 80sen leh. Must be 60sen kah. You are abit bias leh. Die die must be 60sen kah. You can decide the price one kah. Haiyoh. Correct?

Johnzhang

I think Hib will drop to 60sen when crude down to pre pandemic level of $60 .

Brent drop another $4 ! Brace for storm

Why you so scared to know the truth ah?
Brent plunged $6 last night is a truth. By early 2023 , Brent will drop to pre pandemic level of usd60 is declared by Petronas’s chief yesterday is also a truth .

Sudah lah Stockraider. What you do doesn’t help you and others!

Only you and God knows ! Hahaha


Posted by stockraider > 2 hours ago | Report Abuse

No need lah!

Raider just want to save innocent here from getting kon mah!

If you don’t understand the accounting for derivatives , better shut your mouth lah. It’s embarrassing to yourself.

In past qtrs, there were also $200-300 expenses in comprehensive income . HY didn’t lose money in the following qtr . They were very profitable in the following qtr instead . Go and research lah…


Posted by MoneyMakers > 17 minutes ago | Report Abuse

Q3 how to survive - need swallow 1.07Bil hedging loss

They alrdy highlight 1.07Bil hedging loss in ‘other comprehensive expense’ as WARNING of HY’s overall weakness

I think Hib will drop to 60sen when crude down to pre pandemic level of $60 .

KUALA LUMPUR, Aug 30 — Crude oil prices are likely to correct from 2023 but would normalise to pre-pandemic level, Petroliam Nasional Bhd (Petronas) said.

Pre pandemic level price is usd60-70

Is absolutely free to syiok sendiri.

Hahaha.. wishful thinking.

HY pay 10sen 1st interim dividend leh.
Petron no interim dividend leh.

What liquidity?
Trade receivables is only one of sales .
Can the government not pay the subsidy? Shortage of petrol and diesel see how they rakyat going to respond? Haha..
Posted by Ayoyo > 11 minutes ago | Report Abuse

one thing is certain though, the enormous increase in receivables, be it Hy, petron or petdag...... probably domino effect of government paying the oil companies the subsidies.... in fact, petdag even warned of liquidity concerns if situation persists

Correct. HY income tax payable for Q2 is $230 mil which is 26% on PBT of $897 mil !
if no real profit, why pay $230 mil tax ?


Posted by Sharewire > 45 minutes ago | Report Abuse

All I know Chinamen didn't shiphoned profit like some claim.
I see no reason for hengyuan to jackup profit!
They can declare losses
No one can do anything
No sharebuy back as they don't care about share price

I tend to agree with you. There are a total of 16 CWs remain outstanding. Total unit adds up to 1.130 bil CW and average excercise price is $6.16 and average conversion ratio is 9.50.
If HY shot up to $15, IBs collective theoritical loss is 1,130,000,000 unit x(($15 - $6.16)/9.50)
=$1,051494,737 ie $1.05 billion !!!

IBs die die employing naysayers to spam fake news, create doubt to scare off buying interest on one hand and to do IDSS to depress price which is quite easy in the absence of buying interest yet.

----------------------------
Posted by BoomBerg > 7 hours ago | Report Abuse

Beware of Ib lackey pouring negative info so that price won’t go up
Or else their cw will make them lost their pants off

KUALA LUMPUR, Aug 30 — Crude oil prices are likely to correct from 2023 but would normalise to pre-pandemic level, Petroliam Nasional Bhd (Petronas) said.

Pre pandemic level price is usd60-70?

Brent plunge almost usd6 last night ! May see short sellers dumping and retailers taking money off the table when market returns.

This news in the Edge is not fake

KUALA LUMPUR (Aug 30): Hengyuan Refining Co Bhd posted an all-time high net profit of RM667.49 million in the second quarter ended June 30, 2022 (2QFY22) compared to a net loss of RM59.38 million a year ago.

The crude oil refiner attributed the remarkable achievement to its improved refining margin, contributed by better cracks for motor gasoline (mogas), gasoil and jet fuel, as well as stockholding gains fuelled by market sentiments over the oil supply and demand imbalance.

On the heel of this, quarterly earnings per share shot up to 222.49 sen versus a loss per share of 19.79 sen last year, the group’s bourse filing showed.

Ya loh. Someone can read but can not interpret the report correctly.
Good night Mike. Don't waste your time trying to interpret. hehehe....
Posted by Mikecyc > 1 minute ago | Report Abuse

Haha Stop for tonight … later laugh until i cant sleep …. Hahahaha

Ya i want to learn. Mike, please teach me lah .

Posted by Mikecyc > 12 seconds ago | Report Abuse

Haha Ssllee do teach yr friend in Bplant how to Read QR Report … hahaha :


Posted by Johnzhang > 28 minutes ago | Report Abuse

Can anyone show which page of the QR is showing NTA 5.2546 ? I can't find it !
NTA of the company represented by Share capital + retained earnings

But aren't these cash flow hedge reserve, cost of hedging reserve and exchange translation reserves temporary differences will eventually match to profit when the respective transaction closed ? Appreciate your sharing.

Posted by Rabbit2 > 52 seconds ago | Report Abuse

@johnzhang
Net assets per share is available at the face of Bursa template. For computation, just simply use shareholders’ equity divided by 300 m shares then you will get the number.
The drop in NA per share is mainly attributable to the losses in cash flow hedge reserves and cost of hedging reserves.

Come on lah Stockraider ! Derivative accounting treatment is not so simple as you describe.

Posted by stockraider > 16 minutes ago | Report Abuse

Dear John,

Explain as below loh;

For Hengyuan accounting reporting...To put it in proper perspective base on share investment reporting is that all realised share disposal profit u book in the account but all your existing mark to market losses u just ignore loh!

Is it true ? kindly should us the accounting entries. We are happy to learn .

Posted by sense maker > 1 hour ago | Report Abuse

What’s there to argue on classification of profits and losses of different items? They all flow down invariably to net assets aka shareholders’ fund, regardless. RM1.27 per share of net assets have left the company. It’s a huge net loss suffered by the company during the quarter.

Mikecyc, No point posting derivative asset and liability without you explaining what are there , how there arise and what implication to BS and Income statement .
Pls at least attempt to provide some professional explaination lah

Posted by Mikecyc > 29 minutes ago | Report Abuse
Referred to Latest Q2 Report ended June 2022 :
1. Non Current Asset :
Derivative financial assets. RM 14,363,000
2. Current Asset :
Derivative financial assets. RM 247,598,000
3. Non Current Liabilities :
Derivative financial liabiliti RM 480,908,000
4. Current Liabilities :
Derivati financial liabilitie RM 1,305,569,000
Referred to Q1 Report ended March 2022 :
1. Non Current Asset :
Derivative financial assets. RM 2,976,000
2. Current Asset :
Derivative financial assets. RM 158,102,000
3. Non Current Liabilities :
Derivative financial liabiliti RM 42,581,000
4. Current Liabilities :
Derivati financial liabilitie RM 1,452,913,000

Can anyone show which page of the QR is showing NTA 5.2546 ? I can't find it !
NTA of the company represented by Share capital + retained earnings .

@ 30/6/2022 Total is 300 mil + 2,725.5 mil = 3,035.5 mil
NTA is 3,035.50/300 mil share = $10.12 per share !

@ 31.12.21 Total is 300 mil + 2,020.6 mil = $2,320.6 mil
NTA @31/12/21 = $2,320.6/300 = $7.74 mil

From 31/12/21 to 30/6/22 , NTA increase from $7.74 to $10.12 ie $2.38/share
The increase match to the YTD EPS of $2.38.
----------------------------
Posted by Mikecyc > 3 hours ago | Report Abuse

Haha why ah NTA is dropped ??

AS AT END OF CURRENT QUARTER
AS AT PRECEDING FINANCIAL YEAR END
7
Net assets per share attributable to ordinary equity holders of the parent ($$)
5.2546
6.8399

Dear Stockraider,
Are you sure you understood the accounting treatment for derivatives before you join others casting doubts about HY's financials ??

As little as I understand, the $1,079,600,000 derivative LOSSES are temporary fair value change for outstanding contracts and park as other comprehensive expense in the income statement until the actual sales/transactions occur and it will be transferred to the income statement to offset the actual GAINS on these transactions. Please note the key words are derivative LOSSES match to GAINS on the transaction when they occur.
That means we can expect next qtr sales to generate extraordinary GP than spot market rate and the extraordinary GP shall offset the temporary derivative losses. I believe HY will still do very very well in Q3.


Posted by stockraider > 1 minute ago | Report Abuse

Please do not get kon by Hengyuan manipulative Accounts loh!

Actually Hengyuan is in deep trouble loh!

Correctloh....!!
This time mike ....talk some sense loh!

If Hengyuan use the same way of recognising profit like Petron, it would have reported a loss of Rm 412m instead of rm 667m profit mah! That means q2 HRC should report an EPS loss of Rm 1.37 instead of positive eps of Rm 2.22 loh!

Why Petron treatment is the correct approach leh ?
The hedging losses of Rm 1,078M should not classified as a comprehensive income & expenses, it should flow to Profit & Loss Account mah!

Why leh ?? Hedging is mean to smooth out the earning volatility of business, thus the hedging derivative impact should be matched against the Profit & Loss account....thus the computation of EPS should be amended loh!


Posted by Mikecyc > 3 hours ago | Report Abuse

Haha why ah NTA is dropped ??

AS AT END OF CURRENT QUARTER
AS AT PRECEDING FINANCIAL YEAR END
7
Net assets per share attributable to ordinary equity holders of the parent ($$)
5.2546
6.8399

Aug 29): Goldman Sachs Group Inc urged investors to pile into commodities as most recession risks coursing through global markets are overblown in the near term, arguing that raw materials stand to rebound amid a profound energy crisis and tight physical fundamentals.

“Our economists view the risk of a recession outside Europe in the next 12 months as relatively low,” analysts including Sabine Schels, Jeffrey Currie and Damien Courvalin wrote in a note. “With oil the commodity of last resort in an era of severe energy shortages, we believe the pullback in the entire oil complex provides an attractive entry point for long-only investments.”

Note : I am bullish on food/CPO and energy

Aug 29): Goldman Sachs Group Inc urged investors to pile into commodities as most recession risks coursing through global markets are overblown in the near term, arguing that raw materials stand to rebound amid a profound energy crisis and tight physical fundamentals.

“Our economists view the risk of a recession outside Europe in the next 12 months as relatively low,” analysts including Sabine Schels, Jeffrey Currie and Damien Courvalin wrote in a note. “With oil the commodity of last resort in an era of severe energy shortages, we believe the pullback in the entire oil complex provides an attractive entry point for long-only investments.”

Note : I am bullish on food/CPO and energy

Aug 29): Goldman Sachs Group Inc urged investors to pile into commodities as most recession risks coursing through global markets are overblown in the near term, arguing that raw materials stand to rebound amid a profound energy crisis and tight physical fundamentals.

“Our economists view the risk of a recession outside Europe in the next 12 months as relatively low,” analysts including Sabine Schels, Jeffrey Currie and Damien Courvalin wrote in a note. “With oil the commodity of last resort in an era of severe energy shortages, we believe the pullback in the entire oil complex provides an attractive entry point for long-only investments.”

Note : I am bullish on food/CPO and energy

Aug 29): Goldman Sachs Group Inc urged investors to pile into commodities as most recession risks coursing through global markets are overblown in the near term, arguing that raw materials stand to rebound amid a profound energy crisis and tight physical fundamentals.

“Our economists view the risk of a recession outside Europe in the next 12 months as relatively low,” analysts including Sabine Schels, Jeffrey Currie and Damien Courvalin wrote in a note. “With oil the commodity of last resort in an era of severe energy shortages, we believe the pullback in the entire oil complex provides an attractive entry point for long-only investments.”

Note : I am bullish on food/CPO and energy

(Aug 29): Goldman Sachs Group Inc urged investors to pile into commodities as most recession risks coursing through global markets are overblown in the near term, arguing that raw materials stand to rebound amid a profound energy crisis and tight physical fundamentals.

“Our economists view the risk of a recession outside Europe in the next 12 months as relatively low,” analysts including Sabine Schels, Jeffrey Currie and Damien Courvalin wrote in a note. “With oil the commodity of last resort in an era of severe energy shortages, we believe the pullback in the entire oil complex provides an attractive entry point for long-only investments.”

Note : I am bullish on food/CPO and energy

2Q EPS could have been much higher if not for the $20 mil charge for fair value change of biological assets which is non operational.

Swkpltn should at least pay 10sen interim dividend lah. Taann is paying 15sen 3rd interim!

I can believe it ! 15sen 3rd interim dividend! I am very happy.

Good thing always come last . Hahaha

@OTB,

I concur your point.

There is good chance the Q3 results be as good or even surpass Q2 due to expected lower derivative loss and write back of derivative loss provision as discussed with Probability and Sslee just a few days ago.
Finger crossed.

OTB, Sslee, Probability ,

I feel that for HY and Petron, after this qtr results which may either be above or below one’s expectation, there is next exciting qtr to look forward to. I like the excitement. Haha…

Thank you Sslee. I waited for your answer for so long .

US interest rate 15-20%? World economy including US would collapse .

Don’t worry lah . Next year inflation ( which is measured yoy) will be much lower due to high base effect. If Oil price next year stay around usd100 as it is now , inflation will be significantly lower and Powell will hold off interest hike .

$5.59 crossed!

Yes！ looking good !

Nobody is always right and nobody is always wrong. None has the crystal balls to see the future accurately.
————————-
Wow! Both Petron and HY up leh! Very surprising.

I can pocket good amount of intraday gain now if I want to .