Permodalan Nasional Berhad (PNB) hold 4,348,186,695 shares while Hong Leong Asset Management Bhd. 639,934,700 shares.
Just figure out how much dividend payment they get...

I am unsure of under which revenue or expenses they declared. Perhaps this is the management expenses that missing in 1st qtr...maybe.

The dividend payment is expected to be between $25 million and $30 million, according to my rough calculation.

27 may 2022 trading @ 0.12.

In and out 3× in just a short period. Wonder why you can't make money dispite the rest can. Velesto for mid to long term investors. You need patience and holding power at lease up to Nov to get the pay off.

In the next 2 quarters, FCF surpasses debt with this type of profit return.

I expected their FCF to exceed 350 million, my rough estimate.

Maybe run away from tax..😂

Sabar sabar. Bagi time kpd abg abdillah...baru take over tu.

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.

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.

Net profit 46.8mil.

Emma cantekkk kah..cantek klu saya pun masuk.

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.

Excellent qtr coming. Get ready..

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

Sorry type error. I mean it will give positive earning for Financial year ended 31 March 2024 (4th qtr). Buckle up...one more week for the announcement.

This is part of it..more contract to come.

Yes true. Minetech gets contract extension 230mil this year and read this press released..

The company said the contract is from Jan 1, 2024 until Dec 31, 2026.

“The contract is expected to contribute positively to the revenue, earnings and net assets of the company and its subsidiaries for the financial year ending March 31, 2024 onwards to March 31, 2027,” it said.

They said the newly awarded contract will give positive revenue for 1st qtr ended 31 March. 2nd qtr will be much better...fingers crossed, hope for the best. Good luck guys.

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.

Buy buy. You wont regret buy this counter. Restructuring with new management team. Even this 1st qtr not promising but future earning is invisible...abg Abdillah boleh..😀

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

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.

She's buying also..

EMMA YAZMEEN YIP BINTI MOHD JEFFREY YIP ( Finance Director)...from stock market experience background. You all fikir2 lah.

Selling due to Choy Sen (the founder of minetech) and family member now in midst disposing their shares after Abang Abdillah Izzarim Bin Tan Sri Datuk Patinggi Abang Haji Abdul Rahman Zohari was appointed as Minetech’s Executive Chairman on 3 January 2024. Abang Abdullah owned majority of the Minetech shares now...healthy. Let the Choy Sen family dispose their shares first..later the real game start.

Still got hope...big winning hope. All you need is patience to buy, hold and harvest it when the time comes. Company under restructuring with new shareholders.

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.

Hidup..mana ada finish.

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).

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.

What in annual report guys. Pls share ?

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

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

We can see more dividend this year.

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

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..

https://www.nst.com.my/business/corporate/2024/04/1037612/hlib-recommends-investors-eye-velesto-potential-rebound

Energy stocks bull run coming soon.

Oil prices expected to remain high

Analysts said that according to the current trends, along with the shortage in the oil market, oil inventories are expected to further decrease, which in turn will push oil prices to continue to remain high this year.

"Based on IEA forecasts, we believe Brent crude oil prices could rise to US$95 to US$105 per barrel in the near term."

Throughout the year, analysts continued to maintain their earlier forecast, which was to remain unchanged at $85 per barrel.

Year-to-date, Brent crude oil prices have averaged $82.3 per barrel, which is roughly the same level as at the same time last year.

In general, analysts continue to give an "overweight" rating to the oil and gas sector, and in addition to the companies listed above, the preferred stocks include Malaysian International Shipping (MISC, 3816, main board transportation and logistics stocks), Maritime Heavy Industry (MHB, 5186, main board energy stocks) and Velesto Energy (VELESTO, 5243, main board energy stocks).

They bring former ceo/president back. Back in 2019, Velesto, Sapura and sp setia doing good under his realm...This is part of Govn initiative to boost bumi companies.

https://www.klsescreener.com/v2/news/view/1306207/abdul-rahman-said-to-return-to-pnb-team-up-with-raja-arshad-again
Velesto maju kedepan. Don't miss the boat.

Relax lah bro..no dirty words. Just ask only. Doesn't matter if your correct, just want to verified only. Just normal conversation..pls Respect

Statens pensjonsfond utland disposed ready..zero fran.

This is 31st March 2022 announcement lorr..now 2024 ready..biar betui

RJ87
53.8% from PnB. Just matter of time they push all the way up.

RJ, Where you get this info?

I believed yours not yet update?

Are you sure Urusharta Jemaah this hold the portion?

Cannot find any data of it, that's why asked you...

Dont bother them, they all same guy with fake ID.

IB TP setting..
HLIB - 0.35 (buy)
Maybank - 0.35 (buy)
Kenanga - 0.34 (o/perform)
BIMB - 0.34 (buy)
Affin Hwang - 0.33 (buy)
TA - 0.33 (buy)
OGC - 0.31 (hold)
UOB - 0.29 (hold)

Remember what TP kenanga give previously..

Hahaha! All same guy change name only...nice try.

Velesto Energy Berhad's estimated fair value is RM0.52 based on 2 Stage Free Cash Flow to Equity

Velesto Energy Berhad's RM0.28 share price signals that it might be 46% undervalued

The RM0.33 analyst price target for VELESTO is 38% less than our estimate of fair value