https://www.youtube.com/watch?v=Mm6bX_W6CCk
Some info about future oil market..seems more relevant. Good to listen.

All the manipulating guys who tried to tarnish this counter will go for hibernation temporary...

Wow! Oil back to usd 75. Pak tha loo!

Crucial moment for Velesto and brent..go up or go down. Entire i3 members waiting thrillingly. Hope for the best.

Someone keep on posting old news about oil price to tarnish the velesto credibility and reputation...come on guys, aren't you got better things to do.

Goldman Sachs has already revised its oil price forecast for the rest of the year. Previously expecting Brent to hit $100 in the second half, now the investment bank expects the international benchmark to only rise to $94 per barrel in the coming 12 months. For 2024, Goldman analysts see Brent crude at $97 per barrel.

“Oil prices have plunged despite the China demand boom given banking stress, recession fears, and an exodus of investor flows,” Goldman said in a note last week, as quoted by Bloomberg. “Historically, after such scarring events, positioning and prices recover only gradually, especially long-dated prices.”

Indeed, as far as events go, this one left a serious scar. Brent crude went from over $80 per barrel to less than $75 per barrel, and West Texas Intermediate slipped down close to $65 per barrel. And this happened while authoritative forecasters such as the IEA and OPEC recently said they expect stronger demand growth than supply growth.

Even though Goldman Sachs revised crude oil price yet it still at high side...usd 97. Anything (crude oil) above usd 60 already good enough to generate income for o&g counters. Usd 97 is excellent

Goldman Sachs has already revised its oil price forecast for the rest of the year. Previously expecting Brent to hit $100 in the second half, now the investment bank expects the international benchmark to only rise to $94 per barrel in the coming 12 months. For 2024, Goldman analysts see Brent crude at $97 per barrel.

“Oil prices have plunged despite the China demand boom given banking stress, recession fears, and an exodus of investor flows,” Goldman said in a note last week, as quoted by Bloomberg. “Historically, after such scarring events, positioning and prices recover only gradually, especially long-dated prices.”

Indeed, as far as events go, this one left a serious scar. Brent crude went from over $80 per barrel to less than $75 per barrel, and West Texas Intermediate slipped down close to $65 per barrel. And this happened while authoritative forecasters such as the IEA and OPEC recently said they expect stronger demand growth than supply growth.

Even though Goldman Sachs revised crude oil price yet it still at high side...usd 97. Anything (crude oil) above usd 60 already good enough to generate income for o&g counters. Usd 97 is excellent

Crude oil bounced strongly. I don't think tomorrow can drop further. If drop then good time to collect more. Banking crisis calmed down as per today news. But investors still worried the aftershock will put bursa remained at bottom for time being.

Oil bounced back to usd 72. Hopefully can touch back usd78 and all the way up back to usd 80.

Apasal you tarak jilat pong.gong I tak blh tidur kah . Sdh lah you manipulating many here to sell so that you can collect cheap ticket.

08127059

Where is Mr.Mac sdh sembunyi belakang Warren Buffet or Paul Krugmen ...?

Oil bounced back. Usd 72. Banks crisis already factored in now. Hopefully can touch back usd 75

The company shareholders also keep quiet. The big2 institutional that hold the Armada shares also keep quiet. AK also relax even his stock price plummeted . You all ikin bilis why shouting each others quarrel others..relax lah.

If your dream come true and the shares price go lower then collect lah..we collect since velesto trading @ 0.10c mah. Haha!

Hahaha! If you think I'm manipulating then why you are here reading. You see this is my principle if I were not interested in any stock or I dumped it out, I won't wasting my time posting and commenting in that blog again...for what wasting my time only, non value added job for me. I rather use that time to do analyst and studying another profitable counter. We're predicting the market movement and non of us can ensure accurately otherwise everyone becomes millionaire. We gather data and share information. Sometimes the information might correct sometimes it won't. If it working then fine if not we have find alternative solution. Nobody forcing anyone to buy or to sell. Do it on your own interest. Relax my young padawan

Nobel economist Paul Krugman says the Silicon Valley Bank collapse has led to 'apocalyptic rhetoric' in markets, but almost none of it is true


Paul Krugman. REUTERS/Brendan McDermid

The collapse of Silicon Valley Bank has bred "apocalyptic" fears in markets, but most are unfounded, Paul Krugman said.

The Nobel economist refuted myths about SVB's failure and rescue in an op-ed for the NYT.

But he remained concerned about one issue: SVB's impact on the Fed's mission to lower inflation.

The collapse and rescue of Silicon Valley Bank has led to some bleak rhetoric in markets, but almost none of the most commonly voiced fears are correct, according to Nobel economist Paul Krugman.
"The fallout from banking problems has made a murky economic situation even murkier, and it will be a while – maybe forever – before we know whether policymakers made the right call. But I'm hearing a lot of apocalyptic rhetoric right now, none of which seems justified by the available facts," Krugman said in an op-ed for the New York Times on Thursday.
The tech-focused bank failed a week ago, and was taken over by the FDIC to mark the largest bank collapse since the 2008 crisis. Regulators stepped in to fully back SVB's depositors, even those over $250,000, breaking the long standing FDIC threshold for deposit insurance. 
Biden has promised the policy move was not a bailout and would come at no cost for taxpayers – but while that's wrong, and that it is a bailout, according to Krugman, he said markets are also off base in their fears that SVB's collapse and rescue could lead to economic doom, refuting four myths about the bank's demise. 

SVB failed because it was too "woke"

First is the idea that SVB failed because it was too concerned with diversity and inclusion to conduct proper risk management, which is "ludicrous," Krugman said. SVB was environmentally similar to other banks – so "woke" culture isn't ruining the banking system, the top economist said.
"Banks have been going bust for centuries, since long efore HR departments began including boilerplate language about social responsibility in their mission statements. So the talk about wokeness tells us nothing about bank failures – but a lot about the intellectual and moral bankruptcy of the modern American right," he added.

Regulators didn't need to rescue SVB

Second is the criticism that regulators didn't need to step in, as the bank's collapse was more due to its unique problems rather than a systemic banking issue.
While Krugman believes SVB's collapse wasn't another Lehman Brothers moment, the bank was still a crucial part of the tech sector, which justifies its rescue. He compared it to the bailout of General Motors and Chrysler in 2009, when regulators chose to rescue key players in the auto industry and the economy.

The SVB bailout will increase irresponsible risk-taking at banks

Third are concerns that the SVB bailout could lead to a moral hazard dilemma for bankers, as insuring all depositors could remove the incentive for banks to moderate their risk taking. In fact, the opposite is true, Krugman said:
"Policymakers explicit didn't guarantee all deposits everywhere, and at least so far, we're seeing an outflow of funds from smaller banks to more tightly regulated large banks," he said. "On balance we seem to be seeing the financial system move toward reduced, not increased risk taking."

SVB's collapse will undermine the Fed's inflation fight

The fourth unfounded fear, Krugman says, is that the collapse of Silicon Valley Bank could interfere with the Fed's inflation fight. In the last year, central bankers have raised interest rates 450 basis-points to lower high prices, but markets have dialed back their rate hike expectations, as the Fed is unlikely to raise interest rates aggressively to avoid putting pressure on a fragile-looking banking system.
Krugman remains concerned about inflation, but banking troubles naturally slow the economy – so it's a good thing markets are pricing in lower interest rates, as the Fed no longer has to raise rates as high to lower inflation, he said.

"I'm seeing some people saying that banking problems will cause a recession, and also that financial dominance, by preventing rate hikes, will doom the fight against inflation. You can't believe both things!" Krugman said in a Twitter thread on Friday.
Investors are now pricing in a 76% chance the Fed raises rates by just 25 basis-points next week, and a 24% chance it pauses rate hikes altogether. 













 



 



 


 



 



 

Really..I didn't know that. Stock market is all about manipulating otherwise it won't called stock market..lol

Wonder why this Oracle of Omaha piling up his shares in o&g

Hope with the above news will easing the falling crude oil price and market selloff will u-turn.

Biden in the midst of negotiating with great legendary investor. He is the saviour now. Bailout the crisis bank is small matter for Warren Buffet as he had do it before and he will do it again, no doubt on it. Hopefully the recession worried will calm down.

Warren buffet is the saviour. Just one call from this legendary investor can change USA economy.

Warren Buffet, the CEO of Berkshire Hathway, is reportedly in talks with the Biden administration after the collapse of Silicon Valley Bank, Signature Bank, and Silvergate Capital Corp this month.

Buffett's contribution to support US banks during the financial instability has a long history. The Oracle of Omaha's frugal decision has helped two big banks overcome the crisis during their worst period.

Investment of $5 billion to Goldman Sachs

In 2008, at the peak point of the global financial crisis, the legendary investor invested $5 billion in Goldman Sachs to strengthen the firm's capitalisation and liquidy in turbulent times.
The then decision of Buffett has generated a return of roughly $3.1 billion for him. Buffett had placed his bets on Goldman Sachs soon after the collapse of the Lehman Brothers. In 2020, Berkshire Hathaway Inc sold 84% of its Goldman Sachs.

Buffett's one magical call may have helped save the US economy:

In October 2008, Buffett made a late-night call to the then Treasury Henry "Hank" Paulson with an idea of how the US government might be able to turn the economy around.
According to the documentary "Panic: The untold Story of the 2008 Financial Crisis", Buffett shared his idea when the biggest banks failed --Wachovia and Washington Mutual.
Buffett told Paulson, "It might make more sense to put more capital in the banks than it would to try and buy these assets. "
At thet time, CEOs of major banks--including John Mack of Morgan Stanley, Jamie Dimon of J.P. Morgan, Lloyd Blankfein of Goldman Sachs.

Warren Buffet, the CEO of Berkshire Hathway, is reportedly in talks with the Biden administration after the collapse of Silicon Valley Bank, Signature Bank, and Silvergate Capital Corp this month.

Buffett's contribution to support US banks during the financial instability has a long history. The Oracle of Omaha's frugal decision has helped two big banks overcome the crisis during their worst period.

Investment of $5 billion to Goldman Sachs

In 2008, at the peak point of the global financial crisis, the legendary investor invested $5 billion in Goldman Sachs to strengthen the firm's capitalisation and liquidy in turbulent times.
The then decision of Buffett has generated a return of roughly $3.1 billion for him. Buffett had placed his bets on Goldman Sachs soon after the collapse of the Lehman Brothers. In 2020, Berkshire Hathaway Inc sold 84% of its Goldman Sachs.

Buffett's one magical call may have helped save the US economy:

In October 2008, Buffett made a late-night call to the then Treasury Henry "Hank" Paulson with an idea of how the US government might be able to turn the economy around.
According to the documentary "Panic: The untold Story of the 2008 Financial Crisis", Buffett shared his idea when the biggest banks failed --Wachovia and Washington Mutual.
Buffett told Paulson, "It might make more sense to put more capital in the banks than it would to try and buy these assets. "
At thet time, CEOs of major banks--including John Mack of Morgan Stanley, Jamie Dimon of J.P. Morgan, Lloyd Blankfein of Goldman Sachs.

https://m-economictimes-com.cdn.ampproject.org/v/s/m.economictimes.com/markets/stocks/news/biden-says-banking-crisis-has-calmed-down/amp_articleshow/98747244.cms?amp_js_v=a6&amp_gsa=1&usqp=mq331AQIUAKwASCAAgM%3D

https://markets.businessinsider.com/news/stocks/warren-buffett-berkshire-hathaway-blackrock-goldman-sachs-energy-stocks-shares-2023-3

https://markets.businessinsider.com/news/stocks/warren-buffett-berkshire-hathaway-blackrock-goldman-sachs-energy-stocks-shares-2023-3

The number one stock preference for foreign investors is O&G and plantation.

KUALA LUMPUR: Malaysia berada dalam kedudukan yang baik untuk meraih manfaat kemasukan semula dana asing ke pasaran Asia berikutan ketidaktentuan yang dicetuskan krisis perbankan di Amerika Syarikat (AS) dan Eropah, demikian kata penganalisis.

Ketua Penyelidik Rakuten Trade, Kenny Yee, berkata pihaknya percaya dana asing akan membuat pusingan 'U' untuk kembali memasuki pasaran Asia bagi mencari pulangan yang lebih baik.


Beliau berkata, pelabur asing akan mempelbagaikan portfolio kewangan mereka dengan bank Asia menjadi sasaran utama berikutan kerapuhan kedudukan bank di negara Barat berikutan kemerosotan sektor perbankan di AS.

"Malaysia akan menikmati beberapa kesan limpahan itu, justeru memberikan banyak kecairan yang diperlukan dalam pasaran.


"Kami menjangkakan FBM KLCI mungkin mencapai 1,630 menjelang akhir 2023 berdasarkan nisbah pendapatan harga (PER) 15.5 kali," katanya pada taklimat media mengenai tinjauan suku kedua 2023.

Yee berkata, Rakuten Trade percaya pegangan asing dalam pasaran tempatan dijangka lebih baik tahun ini dengan jangkaan mereka mengambil kesempatan daripada penilaian harga yang rendah dan mata wang yang murah.

Beliau berkata, pegangan asing sebenarnya telah mencecah paras terendah pada akhir 2021 dengan berada pada paras 11.35 peratus.

Namun, katanya, situasi itu mencatatkan kemajuan dengan aliran masuk asing bersih pada 2022.


"Selepas aliran masuk bersih RM3.1 bilion pada 2022, aliran asing dilihat kurang memberangsangkan 2023.

"Walaupun kami tidak mengharapkan aliran masuk dalam jangka pendek, kami percaya keadaan itu akan lebih baik menuju ke depan di tengah-tengah pasaran AS yang tidak menentu berikutan kemelut perbankan," katanya.

Mengenai penyertaan pelabur runcit, Yee berkata, penyertaan runcit mungkin sedikit terkesan oleh bilangan tawaran awam permulaan (IPO) yang tinggi.

Beliau berkata, berikutan 35 IPO pada 2022 dengan RM11.5 bilion permodalan pasaran, tahun ini mungkin melihat lagi 39 IPO bernilai RM10 bilion dalam permodalan pasaran.

"Bagi 2023, walaupun kami amati jumlah dagangan harian bertambah baik dalam kalangan saham bermodal kecil untuk dua bulan pertama tetapi telah berkurangan kebelakangan ini," katanya.

In 2019 average crude oil is usd 56.99. Glory year for Velesto as trading at 0.40c. See the qtr earning
1st loss 22mil (after that its pickup)
2nd qtr gained 11.9mil
3rd qtr gained 33.3mil
4th qtr gained 10.2mil (last profit gain before the covid pandemic strike the nationwide). Now oil trading above usd 60 and Petronas agreed to revised DCR. Rigs utilization already reached 90% and expected one or two more contracts winning...what else want to say. Think good, Hope best.

Looking at the above news, you can see clearly that there's still very good prospect for O&G companies at lease another 2 to 3 years (perhaps more)...otherwise the world great investor, buffet won't stack up his portfolio in O&G. Buffet and his team, Berkshire got all the sophisticated art of technology and methods to analyse, predict the future of stock market precisely. Logically speaking, If oil price going to crash then why Berkshire taking so much trouble or risks to buying huge numbers of shares in Occidental. Remember, buffet is not short terms trader, he is investor (long terms trader). You might ask, dont compared Occidental with velesto...yes you are correct it is not relevant as the both annual projection is different but we must remember this, both company relying on crude oil price. If crude oil price crashes then it is doesn't matter either Occidental or velesto or Petronas...very thing will go to Holland. Bottom line is crude oil price. Buffet believed that crude oil will continues to elevated higher for 2023 and 2024. Just 2c.

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What banking crisis? Warren Buffett's Berkshire Hathaway spends close to $500 million on Occidental stock in 3 days
Theron Mohamed
Warren Buffett newspaper toss
Warren Buffett. Rick Wilking/Reuters
Warren Buffett doesn't seem rattled by recent bank failures and mounting fears of a market meltdown.
Buffett's company invested about $467 million in Occidental this week, raising its stake to 23.1%.
Berkshire Hathaway has piled more than $11 billion into the energy giant in just over 12 months.
A trio of bank failures last week may be fanning fears of market meltdowns and financial crises, but that hasn't stopped Warren Buffett from buying stocks.

The elite investor's Berkshire Hathaway piled about $467 million into Occidental Petroleum over the past three days, a Securities and Exchange Commission filing revealed on Wednesday. Buffett's conglomerate scooped up 7.9 million shares of the oil-and-gas company, boosting its stake to 208 million shares or 23.1%.

Berkshire has now poured about $11.1 billion into Occidental in just over 12 months, a Markets Insider analysis shows. Buffett's interest helped propel the energy stock nearly 120% higher last year, making it the S&P 500's best performer of 2022.

The 92-year-old billionaire resumed buying Occidental shares earlier this month after a five-month hiatus. The bargain hunter is likely pouncing because the stock has tumbled 26% from its November peak of $77, to $57 as of Wednesday's close. Berkshire's position is worth $11.8 billion at that price.

Occidental's stock price has slumped 9% over the past five trading days alone, likely because Silvergate, Silicon Valley Bank, and Signature Bank have all folded in recent days, fueling concerns that other banks could follow. Buffett famously recommends investors "be greedy when others are fearful," and appears to be taking his own advice.

The Berkshire chief prizes Occidental's domestic foothold and the fact it's paying off debts, distributing dividends, and repurchasing shares, CEO Vicki Hollub has said. The spike in energy prices last year, fueled by the Russia-Ukraine war, has also inflated Occidental's profits.

Buffett and his team won approval from regulators in August to increase their Occidental ownership to 50%, signaling they're not done building their stake. They also piled around $20 billion into Chevron last year, securing a stake in the fossil-fuel giant worth $30 billion at the end of 2022. Those two bets indicate Berkshire is bullish on the energy sector.

On top of its 23.1% stake, Berkshire holds $10 billion of Occidental's preferred stock, which generates $800 million in annual dividends. Moreover, it owns warrants it can exercise to buy around 84 million additional common shares at a fixed cost of $5 billion. Berkshire received both the preferred stock and warrants in return for financing Occidental's takeover of Anadarko Petroleum in 2019.

Berkshire reported $258 million of Occidental's after-tax earnings as its own last year, as it passed 20% ownership of the company in August and started accounting for its stake under the equity method.

Main content
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HOME NEWS STOCKS
What banking crisis? Warren Buffett's Berkshire Hathaway spends close to $500 million on Occidental stock in 3 days
Theron Mohamed
Warren Buffett newspaper toss
Warren Buffett. Rick Wilking/Reuters
Warren Buffett doesn't seem rattled by recent bank failures and mounting fears of a market meltdown.
Buffett's company invested about $467 million in Occidental this week, raising its stake to 23.1%.
Berkshire Hathaway has piled more than $11 billion into the energy giant in just over 12 months.
A trio of bank failures last week may be fanning fears of market meltdowns and financial crises, but that hasn't stopped Warren Buffett from buying stocks.

The elite investor's Berkshire Hathaway piled about $467 million into Occidental Petroleum over the past three days, a Securities and Exchange Commission filing revealed on Wednesday. Buffett's conglomerate scooped up 7.9 million shares of the oil-and-gas company, boosting its stake to 208 million shares or 23.1%.

Berkshire has now poured about $11.1 billion into Occidental in just over 12 months, a Markets Insider analysis shows. Buffett's interest helped propel the energy stock nearly 120% higher last year, making it the S&P 500's best performer of 2022.

The 92-year-old billionaire resumed buying Occidental shares earlier this month after a five-month hiatus. The bargain hunter is likely pouncing because the stock has tumbled 26% from its November peak of $77, to $57 as of Wednesday's close. Berkshire's position is worth $11.8 billion at that price.

Occidental's stock price has slumped 9% over the past five trading days alone, likely because Silvergate, Silicon Valley Bank, and Signature Bank have all folded in recent days, fueling concerns that other banks could follow. Buffett famously recommends investors "be greedy when others are fearful," and appears to be taking his own advice.

The Berkshire chief prizes Occidental's domestic foothold and the fact it's paying off debts, distributing dividends, and repurchasing shares, CEO Vicki Hollub has said. The spike in energy prices last year, fueled by the Russia-Ukraine war, has also inflated Occidental's profits.

Buffett and his team won approval from regulators in August to increase their Occidental ownership to 50%, signaling they're not done building their stake. They also piled around $20 billion into Chevron last year, securing a stake in the fossil-fuel giant worth $30 billion at the end of 2022. Those two bets indicate Berkshire is bullish on the energy sector.

On top of its 23.1% stake, Berkshire holds $10 billion of Occidental's preferred stock, which generates $800 million in annual dividends. Moreover, it owns warrants it can exercise to buy around 84 million additional common shares at a fixed cost of $5 billion. Berkshire received both the preferred stock and warrants in return for financing Occidental's takeover of Anadarko Petroleum in 2019.

Berkshire reported $258 million of Occidental's after-tax earnings as its own last year, as it passed 20% ownership of the company in August and started accounting for its stake under the equity method.

Velesto steady and strong. Those dream for 0.10c taraaak! I can feel the burning smell..wakakaka!

Not velesto only red the entire oil counters also red. Bumi Armada, dialog, hibiscus, yinsoon and many more. All this companies making double profit in last qtr and they even drop up to 0.08c per share. Velesto just 0.015c.

Strong demand for oil is still there especially from china. A small pullback only due credit Suisse issues. World facing shortage of oil now. Not everyone can effort to buy EV cars as the price far to expensive. To replaced EV battery also is double the price, almost can buy one new car...filthy rich can buy lah. Oil Usd 100 per barrel imminent. Don't absolute to minor pullback or negative minded people post. Do research your own.

Yahoo
Oil regains a bit of ground as Credit Suisse secures lifeline
Laura Sanicola and Muyu Xu
Thu, March 16, 2023, 9:54 AM GMT+8·2 min read
In this article:

FILE PHOTO: A view shows oil terminal Kozmino near Nakhodka
By Laura Sanicola and Muyu Xu

-Oil prices clawed back some ground on Thursday after sliding to 15-month lows in the previous session as markets calmed somewhat after Credit Suisse was thrown a financial lifeline by Swiss regulators.

But battered by fears of a deepening crisis for banks worldwide, market sentiment remained fragile with both benchmarks giving up some early Thursday gains that saw Brent climb by more than $1.

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As of 0427 GMT, Brent crude futures were up 58 cents or 0.8% to $74.27 per barrel. West Texas Intermediate crude futures (WTI) rose 51 cents, also 0.8%, to $68.12 a barrel.

On Wednesday, the third straight day of declines, U.S. crude fell below $70 a barrel for the first time since December 20, 2021.

Brent has lost nearly 10% since Friday's close, while U.S. crude is down about 11%.

Credit Suisse on Thursday said it would borrow up to $54 billion from the Swiss central bank to shore up its liquidity and investor confidence after a slump in its shares intensified fears about a global financial crisis.

"Market sentiment deteriorated as the banking crisis expanded to Europe from the U.S...The future trend will depend on the level of market angst even if fundamentals are not necessarily showing much in the way of bearish signs," analysts from Haitong Futures said in a note to clients.

OPEC's rosier outlook for China oil demand also supported oil prices, said Lim Tai An, analyst at Phillip Nova Pte.


OPEC increased its Chinese demand forecast for 2023 earlier this week and a monthly report from the International Energy Agency (IEA) on Wednesday flagged an expected boost to oil demand from resumed air travel and China's economic reopening after abandoning its zero-COVID policy.

But oversupply concerns remain.

The IEA said in the report that commercial oil stocks in developed OECD countries have hit an 18-month high, while Russian oil output stayed near pre-war levels in February despite sanctions on its seaborne exports.

U.S. crude oil stockpiles also rose last week by 1.6 million barrels, exceeding analysts' expectation of a 1.2 million barrels rise, the Energy Information Administration said on Wednesday.


Later on Thursday, European Central Bank policymakers are seen leaning towards a half-percentage-point rate hike as the euro zone economy is picking up strength and inflation is set to remain high for years.

Higher interest rates can lead to depressed demand for oil as economic growth slows, but concerns about a widenening financial crisis for the banking sector could also weigh on oil demand.

(Reporting by Laura Sanicola and Muyu Xu; Editing by Edwina Gibb

Hahaha! Really. Hope your dream come true. Don't touch first if test to 17c, why don't wait for 0.08c ...hahaha! Dream dream dream

KUALA LUMPUR (March 14): RHB Research is positive over Petroliam Nasional Bhd’s (Petronas) projected RM300 billion capital expenditure (capex).

The national oil company has guided its capex spending for 2023-2027 at RM300 billion or on average RM60 billion per annum, which is a 43% increase from RM208.5 billion over the previous five years, or RM41.7 billion per annum.

The increase in capex is to cater for additional investments in the core business, clean energy and lowering emissions.

“We are positive over Petronas’ guidance of the RM300 billion capex. Our 2023-2024 forecast crude oil prices are still at US$88-80 per barrel,” the research house said in a note on Tuesday (March 14).

Quoting independent research and business intelligence Rystad Energy, RHB Research said on the global front, the annual greenfield capex has surpassed the US$100 billion (RM448 billion) level in 2022 and continues to grow in 2023 and 2024.

RHB Research has maintained an overweight call on the oil and gas (O&G) sector with top picks Yinson, Dayang Enterprise and Malaysia Marine and Heavy Engineering.

It also viewed the O&G sector outlook to remain positive with more room for services players to demand higher rates amidst tight supply.

Meanwhile, Kenanga Research has set a neutral call on the national oil company.

“With anticipated further ramp-up in capex by Petronas, we are expecting the upcoming quarters to see continued recovery trajectory in local activity levels.

“Earlier, in our read-through of Petronas’ latest activity outlook, we highlighted Dayang Enterprise Holdings Bhd to be one of the key beneficiaries, given the planned increase in offshore maintenance, construction and modification, and hook-up and commissioning works,” Kenanga said in a note.

It also said that Uzma Bhd could also benefit from the increased level of brownfield activities, especially in an environment of higher oil prices as producers would be more incentivised to enhance well production.

Additionally, demand for jack-up rigs is also expected to improve in the second half of 2022 and going into 2023, benefitting rig provider Velesto Energy Bhd, it added.

Kenanga has downgraded Petronas to neutral from overweight as it sees limited upside catalysts for big-cap Petronas names, for example, PCHEM, PETDAG (MP; TP: RM24.00), MISC (MP; TP: RM7.50), although it continues to see selective opportunities in smaller equipment and service contractors (ARMADA (OP; TP: RM0.75), DAYANG, WASEONG (OP; TP: RM0.97), YINSON (OP; TP: RM3.65)).

Additionally, it is expecting oil prices to gradually trend lower over the long term from their 2022 high.

Meanwhile, HLIB believes that Petronas’ profits and cash flows would normalise in 2023, in tandem with lower average crude oil price assumptions throughout the year.

“We believe that the dividend commitment of RM40 billion is highly doable. The net cash position of Petronas continued to improve, further growing to RM97.1 billion as at end-December 2022 from RM56.7 billion as at end-December 2021,” it said in a note.

Petronas posted its strongest financial performance with a net profit of RM101.6 billion in the financial year ended Dec 31, 2022 (FY2022), up 51% against RM50.9 billion a year ago, on the back of favourable market conditions last year.

The national oil company recorded an all-time high revenue of RM375.3 billion in FY2022 from RM248 billion year-on-year, a jump of 100%, mainly due to the favourable price impact for major products aligned with higher benchmark prices.

Definitely. That's why we're here for in stock market...our goal is to earn money, others I won't be here test messaging you all. Elon negotiating to take over SVB, indeed it is good news. Yesterday market red due to market sentiment drag it all. See Today PBB rise back...

pang72

Let's you all earn the money.
I am learning from sideline

Relax. Got money why worried. Collect lah. Nothing permanent things might change unexpectedly. If scared too much then I suggest keep in FD je ler...lol

pang72

Macg,
Hope you doing well..
It is not 23c but may back to 18c

Sewa sdh naik ni tahun..you tak baca news kah

Still got future. Tomorrow SAP might shot up. USA federal might stop interest rate hiking. More banks in USA closed shop after previous interest hike. Federal will held meeting on tomorrow, they might stop interest rate and inject fund to bailout. If this materialize then likely recession can be contain...

The Federal Reserve Board of Governors announced that it will hold an emergency closed-door meeting under expedited procedures at 11:30 a.m. on March 13, 2023.

Matters to be considered at the emergency meeting will be: "Review and determination by the Board of Governors of the advance and discount rates to be charged by the Federal Reserve Banks."

It is likely that the sudden collapse and FDIC seizure of SVB Financial Group (SIVB) on Friday is driving the expedited Fed meeting.



SVB was the largest bank failure since the 2008 financial crisis. Its collapse has sent shockwaves throughout the banking system. The status of billions of dollars of uninsured deposits is unknown heading into Monday.

# recession

Now only usa federal realised the out come of interest rate increased. More and more banks going to close shop. They might stop the interest rate and help to bailout those banks in financial problem. If this happens then ressession likely will be contain...

The Federal Reserve Board of Governors announced that it will hold an emergency closed-door meeting under expedited procedures at 11:30 a.m. on March 13, 2023.

Matters to be considered at the emergency meeting will be: "Review and determination by the Board of Governors of the advance and discount rates to be charged by the Federal Reserve Banks."

It is likely that the sudden collapse and FDIC seizure of SVB Financial Group (SIVB) on Friday is driving the expedited Fed meeting.



SVB was the largest bank failure since the 2008 financial crisis. Its collapse has sent shockwaves throughout the banking system. The status of billions of dollars of uninsured deposits is unknown heading into Monday.

Correct just add "y" and change it to right track to holyland (prosperity land)...hahaha! Lol

Forget about what bimb said. Don't bother either it's bs company or bumi company whatever etc etc. The important is Petronas agreed to revised DCR this year and next year. The DC Rate might increase up to usd90k to 100k in daily basis, perhaps more. This will give positive earning in up coming month..confirm. Any new contract that Velesto receive this year onward will be revised DCR price. Utilization rate already exceed 90% another positive sign. In 2019 Velesto in same position as today (pls go and refer back 2019 records). Not only Velesto but most of the rigs service companies will benefit from this (except sapura - sapura suffering from high debt., all the IB chasing them not good). Velesto clean balance sheet and debt manageable. Focus on investment, do your own research. If think velesto is not good then go to other counters (if there's any at this current economic situation). Don't blame others in this blog. Be responsible on your own act. No point pointing fingers to other when price drop. When price shot up everybody in this blog turns hero. TP rm 1.00 lah 2.00 lah. Price go down cursed people. This is karma not good. I still believed velesto in right track.

We remain optimistic on Velesto Energy (Velesto) given a tightening rig market. As of January 2023, marketed utilization rate stood at 91% which is near the peak of previous cycle.
Note that Petronas has approved a revised rate for Velesto’s jack-up rig effective March 2023. We believe this will offset against the impact of rising opex and thus pushing the company back into profitability beginning 1Q23.
Following recent stock price weakness, we upgrade Velesto to a BUY with unchanged TP of RM0.30 pegged at 1x P/B to FY23F.
Rig Market is Getting Tighter

Velesto remains optimistic with its business outlook amidst a tighter rig market. As of January 2023, there were 393 contracted rigs versus marketed supply of 431 rigs. This implies marketed utilisation rate (i.e., sector utilisation rate) of 91% which is near the peak of the previous cycle of 94% in 2013 (Chart 3). This is driven by limited supply of rigs (which involved scrapping of old rigs) and rising demand. According to management, newbuilding of rigs by competitor remains muted at the moment. As such, we think market condition will not ease significantly in the near future.

I believed they also need to pay some brokerage fees for the transaction, nothing free mah in this world. I do rough calculation and find out that the brokerage fees for each transaction is about 120k...what this guy trying to do.

I'm wondering how Amanah can earn profit just by doing transaction buy and sell 90,000,000mil shares on same day...if you observed carefully the number of shares held after the both transaction totally different...eeeeem!

Good luck.

pang72

Macg, hv you sell your armada?

Disposed ready. Temporary i will stay away from Bumi Armada. Federal going to increase interest rate very soon. Armada loan mostly from oversea bank. Quite risky once the interest rate hike up. I will consider to buy unless price drop below 0.55. Play safe. Velesto safe...