Possibility is there...let see. Qtr announcement most probably around this week.

Even oil trading at usd100 also no point. The sad thing is veleslow still getting usd90k to 95k for rig renting despite our neighbour countries easily get usd150k/day. Velesto can't stand on their own leg, bagging Petronas for contract that the payment for DCR offered far beyond compared with other. Now add up with another shocking news, PNB looking for buyer. Let see where our friend heading towards.

Wait after the qtr result out. Qtr 50:50.

See how lowest it can go then decide to collect.

As I said 0.23 gone. Look alike it will drop further. As usual veleslow never fail to disappointed us. 🙆

Oil weakness could impact the price further. Brent trading below usd80 and if drop further, this could drag the price due to panic selling...hope this scenario won't happen but as I said earlier in stock market nothing is impossible.

Ya I think this 0.23 wall can break today...let see.

Everytime when it touch 0.23c, there's a huge block..give me some relief..😎

Felix I got more then 500k....🙆

But I'm looking at this way...PNB looking for a buyer to dump the shares that almost crossed 1 bil and who the hell so stu..pid in this world want to take over it if the company performance very bad especially in their qtr financial report. I just think opposite and hope correct lah...just 2c. Not recommendation but trade widely.

Let don't jump into the conclusion fast. RHB % in velesto very tiny compared with hong Leong and great eastern. Whatever the qtr report we need to take the bullet..

Veleslow trend like this qtr good price go down (as you all experienced it before) qtr bad price go up...haha 😂

Don't judge book by its cover. Armada 1st half price drop up to 0.53c but after second half once the qtr announcement, price moved up 0.545c and continued uptrend. IB predict only but they not sure also.

"Blessing in disguise" that's what I can say for now. Hope something good will happen in between bad..stay tuned.

https://www.offshore-energy.biz/infill-drilling-campaign-off-malaysia-almost-done-but-four-more-wells-may-be-on-the-cards/

Oil price inching up but Vele inching down bcoz of PNB news

O&G sector good bet on strong oil prices
Besides a capacity shortage, crude oil prices are expected to remain elevated for a longer time due to the heightened geopolitical risks in Europe and the Middle East.

“Yes, O&G activities are likely to remain robust and not affected by weak consumer sentiment. We foresee oil prices remaining elevated on supply challenges amidst heightened geopolitical tension,” says Azim Faris Ab Rahim, BIMB Securities’ O&G analyst.

Brent crude oil price has averaged at US$82.68 so far this year, peaking at US$96.55 on Sept 27. While this is still far from the US$120 per barrel level seen in 2022, the World Bank Group has warned that crude oil prices could soar to US$150 per barrel.

However, that level can only be reached if the Israel-Hamas war escalates into a regional conflict in the Middle East.

“We think offshore activities will remain robust if oil prices can maintain above US$50 to US$60 per barrel,” says Azim. He is bullish on the upstream services as a whole, with top picks being MISC Bhd, Malaysia Marine and Heavy Engineering Holdings Bhd and Velesto Energy Bhd.

https://www.klsescreener.com/v2/news/view/1232047/pnb-may-be-looking-to-sell-velesto-energy-stake-worth-over-rm1-bil

Another article about PNB looking for buyer...

I know bro no need to remind me...but don't excited quickly, in stock market anything can happen in split seconds...like weather forecast. Stay alert hope for the best 🤑

royalinvestor


Macgyver11
Amanah acquired 70mil

PNB just give the hint the 3rd Quaters will be better from previous results ... my guest s

Amanah acquired 70mil.

https://www.thestar.com.my/business/business-news/2023/11/09/epf-allocates-rm97bil-for-local-market

Always licking Petronas backside for contract...geram betui.

Not PNB only the entire BOD must go and swab with highly capable team. Exciting one don't know how to manage the organisation very...semua tidooo! Useless fella.

Nevermind la big shark throw baby shark bite it...hahaha!

Big shark only PNB..who else other than this fella

This is intentionally bring down...someone in corporate looking for cheap ticket I guess...they target 0.23c to collect. This is our bursa. Bursa boleh!

235c selling like hot cake...😃

Armada and perdana remain strong with this current crude oil. Today crude oil bounced back to usd 80..how come

I think the lower can go 23c or maybe 0.225c....all corporate politic

One bring down the price while another happily collect...😢

Another frustration day....🙆

Good news is foreign fund are actively buying since past few weeks...
1) Fidelity fund - around 163mil of shares , Vanguard invs - around 24mil, RHB asset - 5.5mil and Dimensional fund 2.3mil respectively.

I guess there's no peace of mind until we discover the truth...

Still puzzling who is Velesto next buyer?
I realized not ABL group actually, my assumption is wrong...indeed they're paid to move Velesto rigs out of Malaysia boarder.... like Vietnam and Thailand. Bilis now like walking on thin line...umpama telur dihujung tanduk 🙆🙇

I think ABL group taking over Velesto from PNB. ABL is very good company if I'm not wrong...I think I hv to take back my sell statement....😂

Velesto drilling machine transfer to neighbors within 1 year
(Kuala Lumpur, 6th) Velesto Energy (VELESTO, 5243, Main Board Energy Group) will transfer drilling machines to Vietnam, Indonesia, or Thailand within one year. According to OFFSHORE reports, ABL, an ABL company owned by ABL Group, listed on Oslo, Norway, has obtained a new contract with Velesto Energy. In addition, the report pointed out that ABL also supported Velesto to transfer the rig to Vietnam, Indonesia or Thailand, such as Vietnam, Indonesia or Thailand within one year. "According to the new contract, ABL's drilling machine mobile surveyor in Malaysia is expected to survey the 6 drill rig fleets of Velesto during this period and move about 14 to 16 rigs in offshore."

https://youtu.be/yl8hqWbeNUM?feature=shared

ABL group Oslo Norway...well established O&G company.

I heard ABL group lately.

Earlier than above consider bonus....

Don't worry about upcoming qtr. Velesto must show good qtr result to the new owner, so the qtr going to be good (if not good also our friend PNB can fix it...showing 20mil tarak hal punya after all huge profit waiting for them). Expected TP above 0.30 by Dec..my 2c

To get the free meal, first they must rise up the price (up to the reasonable TP) and we as bilis must take all the advantages from this..don't greedy too much ya.

Agreed with SinGor. But in other hand don't underestimate the BOD. They are filthy rich. Megat Zariman himself owned 11mil shares. He is CEO of the company and if ceo can afford to buy 11mil...think what the BOD can do. This is the reality, new management in old management out...mostly. The ESOS T&C fix the BOD committee. I think no vesting time required for BOD...maybe.

This Esos nothing to do with employees...vesting period is 3 yrs. Which employees got strength to wait up to 3 years whatsoever the amount that they going invest most probably very small. Purely trap to collect free meal under the Employees scheme...who's the culprit behind the scene?

If PNB breakeven price is 0.30c, then my guessing is...PNB will push the price up to 0.29c before the corporate exercise implemented. (if there is any as per rumour).

Top 10 PNB owned shares...
1) Malayan Banking - >48%
2) Sime Darby - >50%
3) Sime Darby plantation - >55%
4) Sime Darby property - >55%
5) SP Setia - >60%
6) UMW - >55% (acquired by Sime Darby)
7) Velesto - >55% (buyer???)
8) Duopharm - >45%
9) MNRB - >55%
10) Sapura Energy - >35%

UMW take over by Sime darby, really...PNB work smart, they still owned majority of Sime Darby shares..

But one thing I'm very sure, PNB won't hand over Velesto to shoplot buyers. Must be well established, strong and dynamic institutional buyers. And, must be hefty rich also or else who willing grab such huge amount...1billion man.

New management..koyak la old BOD. Wonder why Datuk Ling Kien Sing disposed his shares recently.

PNB not interested to let go Velesto shares actually, that's included UMW...this is direct encouragement from Government. Anwar want GLC organisation not solely depend on stock market investment. He want them to expand...

Preferable Saudi Arabia..just guessing since Anwar just back from recent kingdom visit. Maybe the deal is there...