This is sort of expected scenario when you invest in VT shares.
Thats why dont all in and sell some when you have decent profit.
He can afford to play like this for few years and he has been doing it already.
I holding around 1 year + or more and hand chance at easy 30+% profit but nvr sold.
Next time i will sell half and keep another half for privatization or dividend.

Sold all.. short but very good profit..

Results should be out in a month.
Results wont be red and this will improve PE ratio and allow share to move. Lets hope!

https://www.thestar.com.my/business/business-news/2020/04/21/uob-kay-hian-low-termination-risk-for-velesto

UOB Kay Hian: Low termination risk for Velesto

PETALING JAYA: As the termination risk on global jack-up rigs due to Covid-19-related issues will weigh negatively on sentiment, local contracts for foreign rigs have a higher risk of termination.

As such, UOB KayHian assumes that the termination risk on Velesto Energy Bhd’s rigs will be low as they are locally owned.

The research house assumes a lower utilisation rate for Velesto’s rigs for 2020 to 2022, especially this year, as it accounts for operational setbacks such as the risk of suspension or standby modes due to lockdowns and Covid-19-related logistical issues.

“We expect utilisation to recover in 2021, but rate recovery to only be from the second-half of 2021.

“This is assuming that Petroliam Nasional Bhd (Petronas) exercises the one-year extensions from mid-2020 but negotiates at low rates of less than US$60,000.

“Currently, four of Velesto’s rigs are up for extension from mid-2020.

“We assume Velesto will respond with some operating expenditure savings, and our 2020 to 2021 earnings before interest, tax, depreciation and amortisation (EBITDA) forecasts are cut by 25% to RM300mil levels, ” said UOB KayHian, adding that the EBITDA forecast for 2020 to 2021 is still healthy and consistent with 2019.

In addition, Velesto’s future principal repayment is small and net gearing is set to decline.

Overall, UOB KayHian does not see material risk on Velesto’s balance sheet.

The research house said Petronas has yet to issue guidance on capital expenditure (capex) cuts or contract renegotiations.

“Petronas recently said it will strive to retain its domestic capex of an expected RM26bil to RM28bil for 2020.

“Although Westwood Global highlighted force majeure scenarios, we note that this is a case-by-case basis and not necessarily enforced in Malaysia.

“We believe the affected rig activities may be placed under standby or suspension mode, for at least a 14-day quarantine period, and in this case at reduced rates.

“According to Westwood, active jack-up rigs in Malaysia fell from a peak of 15 in January 2020 to about 10 in April 2020, ” said UOB KayHian.

Westwood Global highlighted that oil majors may cut planned 2020 capex by more than 20% and are increasingly using force majeure declarations on confirmed Covid-19 cases, as well as rig downtime due to logistical issues.

Good that i went it a few days ago, but bad thing only small position.
Now to 2.40

Just topped up some today at a higher price than my earlier holdings. Hope for the best at least 10-30% profit.

MCO update. To date, VSI has halted its production for over two weeks. VSI has submitted its application to MIDA in order to operate during the MCO period. At this juncture, the resumption of operation seems a bit far-fetched, even that materialises, VSI will have to be running at 50% capacity. With the assumption that their plant will be closed until 14 Apr, management guided that bottom line will be impacted by RM20-30m quartering 3QFY20.

I dont think they are operating during MCO unless there are given approval over the last few days. Also, at half capacity. Info taken from HL Research.

I believe the new buy backs so they can give share dividend for next quarter instead of cash dividend.
Currently they have bought back 1.04820%. They will need app. 1.405% for 0.005 cent dividend.

BJ land share buyback.. I guess now is time! ini kali lah

NORTH DAKOTA
Williston Sweet 9.750 -1.500 -13.33% (2 Days Delay)
Williston Sour 1.390 -1.500 -51.90% (2 Days Delay)

Wow, that price of oil is so so incredibly cheap. No wonder first to go.

(The actual cost of pumping is about $10 a barrel, so even at a sales price of $20, there’s still some cash flow.)

start engine already, maybe can buy in soon.
boss buying.

Thanks for sharing.
According to Yinson’s website FPSO Abigail-Joseph sets sail for Nigeria.
Not sure if Anker will cover the cost.

I think can start buying in already with extra money, although i bought small amount already.
But dont all in la, still have alot of better stock available in the market.

Yes, back door will always be back door.

Just saying probably no new stock as they are distributors and not makers. All N95 stock at the moment mostly going to US.
Dont just buy for their 3M, think of their printing business also.

3M Makes Respirators for Pandemic's Front-Line Responders

Household products maker 3M (MMM) - Get Report said it has been churning out millions of much-needed respirators that are making their way to front-line doctors, nurses and other first responders as North America gets hits hard by the coronavirus pandemic.

The Saint Paul, Minn.-based company said it was now producing the equivalent of 35 million respirators a month, with more than 500,000 of its bug-looking respirators on the way to New York and Seattle, respectively, with arrivals expected to begin in each of those areas on Tuesday.

In a statement, 3M CEO Mike Roman said the company has ramped up to “maximum production levels of N95 respirators, and doubled our global output to a rate of more than 1.1 billion per year, or nearly 100 million per month.”

https://www.thestreet.com/investing/3m-n95-respirators-coronavirus-pandemic

AirAsia Group Bhd is weighing options for its long-haul unit AirAsia X Bhd including introducing a financial investor to help shore up the unit’s finances, according to people familiar with the matter.

The budget carrier is also studying alternatives including getting support from Khazanah Nasional Bhd, Malaysia’s sovereign wealth fund, or integrating AirAsia X into the group, the people said. Shuttering AirAsia X could also be one of the options, said the people, who asked not to be identified as the discussions are private.

If they close AirasiaX, wow.
Buy out all shares? Investor take huge lost?

if covid touch wood never get better in 6 months then how?

Honestly, i think anything below 25 cents in cheap and good value for Velesto.
Below 15 cents is steal, what you waiting for.
I been trying to que at 10.5 and not matching. Will try again tomorrow.

I dont plan to buy but looks funny.
I mean they have buy back clause i just check and 2.4 ringgit cash.
Why dont buy back?? Their books inaccurate?

Or their cash is for Pan Borneo? can one one explain.

This company so much cash dont tell me they dont have buy back clause?

Executive Director Demised - DATIN GAN CHU CHENG on 19-Mar-2020.

That means she passed away?

Damm son, this is madness..

Hibiscus Opex for Anasuria was USD 23 and USD 12 for North Sabah, another 10% lower and Anasuria will be loosing money if they continue pumping oil. If things prolong Hibiscus can even make lost.

If got chance Hibiscus should try see if they can loan and purchase oil asset at super low cost.

Pbbank looks more worth to invest in than HLbank atm.

2 weeks shut down of production line. Maybe also shortage of material according to earlier analysis report.

PNB staring at massive paper loss in O&G counters

Its investment in Sapura Energy alone would see PNB recording a paper loss of about RM1.1b in the last 3 months

by DASHVEENJIT KAUR / pic by TMR FILE PIX

PERMODALAN Nasional Bhd (PNB) is seeing billions of its investment in the oil and gas (O&G) sector vanish as oil prices tumble, punishing related stocks with Sapura Energy Bhd’s share price plunging to a new record low.

Oil prices fell to as much as 34% on Feb 9, which was the biggest single-day plunge of the commodity since the US invaded Iraq in 1991.

The Russia-Saudi Arabia oil price war and the coronavirus pandemic led to the crash of global oil prices, triggering alarm bells and dragging O&G counters.

PNB has a substantial shareholding in Sapura Energy, Velesto Energy Bhd and Dialog Group Bhd. Collectively, the three companies have witnessed their total market value dropping about RM6.3 billion since December.

In 2017 and 2018, PNB injected more than RM800 million into Velesto and RM2.68 billion in Sapura via two separate rights issues.

PNB’s investment in Sapura Energy alone would see the country’s largest fund manager recording a paper loss of about RM1.1 billion in the last three months.

At the end of December 2019, Sapura’s share price was trading at 27 sen a share. The counter settled at 10.5 sen or 61.1% lower last Friday, valuing the company at only RM1.68 billion.

In the last 12 months, Sapura Energy’s share has tanked to a new low of eight sen from a high of 37 sen. At its peak, the share reached a high of RM4.94 at the end of 2013 when Brent was trading at above US$100 (RM427.92).

But the global oil crash, which began in early 2015, has taken a toll on the company.



Sapura Energy raised about RM4 billion from a rights issue early last year and turned PNB and its associated funds into its largest shareholder with a combined 40% interest from 12.6% previously. The rights issue price was set at 30 sen.

The unsubscribed portion or 1.85 billion units were taken by joint underwriters — Maybank Investment Bank Bhd, CIMB Investment

Bank Bhd and RHB Investment Bank Bhd — who would also be reeling with paper losses.

PNB also has a 62% equity interest in Velesto. The stock fell from 38.5 sen early this year to RM1.52 billion as of last Friday.

Velesto’s debt risk has risen five levels, according to a Bloomberg Model. PNB’s market value in the rig operator has thinned by about RM700 million.

Velesto returned to profitability in its financial year ended Dec 31, 2019 (FY19), after four consecutive years of losses. Sapura Energy, however, remains in the red, with its third straight quarterly loss recorded in December.

Sapura Energy’s orderbook stands at RM15.1 billion with cumulative new contract wins to date in FY20 of RM3.7 billion.

As for Velesto, analysts are mostly upbeat of the company’s prospects on the prospects of dividends. Velesto has proposed to undertake a capital reduction exercise to offset RM2.2 billion of its issued share capital against its accumulated losses of RM2.1 billion as at FY19.

Analysts view this in a positive light as it sets the company up for potential future dividend payment in view of its return to profitability and positive cashflow.

MIDF Amanah Investment Bank Bhd said the sharp plunge in oil price will definitely hit the upstream exploration and production players like Sapura Energy, given that oil productions are directly correlated to the oil price.

“In a prolonged oil price war environment, globally, we anticipate oil majors to cut or delay some portion of their planned capital expenditures for 2020, which in turn could potentially result in delayed contract awards for the O&G service providers,” it said.


Lot of good things said for Velesto, even possible dividend payment.
If got spare cash can top up.

Long term loans 270.4 million USD,
Short term borrowings, 76.15 million USD.

Interest rate from 1.25% to 0.25% will certainly help Velesto but can they get new high value contract wins, or they need to reduce their daily price.

I was thinking to average down but still holding for it to drop more.
The reason is because the last time VS dropped so much the directors and owner was purchasing and supporting the price. This time round, they have not started buying in yet.

Thanks Jeffery. I translated with another app.
That means they are containing the construction of hospital and maybe reduce cash reward?

▶ Attention is drawn to whether the owners of the hundreds of billions of won compensation suits will find a way to solve the problem of the residential complex.

JDC Chairman Moon Dae-rim, celebrating his first year in office, says he is in last-minute talks with the group to reach an agreement.

Oh Seung-cheol's report.


The construction of the Yerae Recreation Housing Complex has been suspended since the Supreme Court ruled that the land expropriation was invalid in 2015.

Berjaya, the operator of the project, filed a 350-billion-won damages suit for the JDC error, and last year submitted a 4.4 trillion-won letter of intent to mediate an international investment dispute.

The Seoul Central District Court delayed the sentencing date of the compensation suit twice, saying it would wait and see the results of the consultation between the two sides.

---

JDC Chairman Moon Dae-rim expressed hope for a solution to the problem, saying, "We have reached an agreement with Chairman Berjaya Tan Sri in a big way, leaving virtually the final phase of the court's mediation process."

JDC Chairman Moon Dae-rim said, "We need a guarantee process that goes beyond our agreement with Chairman Tan Sri"

While declining to elaborate, it appears the two sides have begun to fine-tune the extent of the damages the JDC should pay and the withdrawal of related lawsuits.

Healthcare Town also says it is considering using the hospital building, saying the second phase of construction will resume soon as investors pay back the unpaid bills.

▶INT ▶ JDC Chairman Moon Dae-rim said, "It's true that we're also thinking about how to smoothly resolve the case through external means. You have to give cause to do and you have to give cause to green groups."

Moon said he will improve the completion of existing core projects and offer the Future of the Jeju International Free City Award, which is centered on peace, human rights and the environment, away from the way it is developed.

Oh Seung-cheol, MBC News.

Although expected the results would not be good but never expect that the share buyback is only 10k lots. Why, does management expecting share price to drop even more??

The Proposals are expected to result in a share of estimated profit of about RM201.9 million at the
BLand Group. wow!

If Japan really cancel their Olympics then Kyoto 4 seasons hotel value would not have its current premium attached to it.

AntheMz myeg didnt drop much even it link to politic, why?

A deputy managing director Chew Ben Ben of Datasonic Group Berhad (DGB) told the High Court that he would not have recommended for the company to contribute RM6mil in political funds to Barisan Nasional if Datuk Seri Dr Ahmad Zahid Hamidi was not the deputy prime minister and home minister then.

If they manage to acquire a 8k barrel per day oil producing asset with right price, will be very exciting actually. From their target is by this year end, so may be they have already have 1 insight.

My mistake so NTA is also same.

Did not see there was a separate announcement only looked at annual report.

Lower revenue! Higher dividend!

The sun is owned by Berjaya Media, this is why media should be transparent. What they say is not wrong they made 11.19 million profit is pre tax profit but excluding depreciation and their impairment.

RM11.2m for GMOC arbitration and RM 3.2 for building and equipment. Profit become lost, power of accounting.

looking at the results, no face see. Need to dissect the report to see what depreciation or where they hide stuff.

ROHAS TECNIC BERHAD

Type Announcement
Subject OTHERS
Description AWARD OF CONTRACT
Rohas Tecnic Berhad (“RTB” or the “Company”) is pleased to announce that HG Power Transmission Sdn. Bhd. (“HGPT”), a subsidiary of the Company, had on 18 February 2020 accepted two (2) letters of award from Power Grid Company of Bangladesh Ltd. for contracts (“Contracts”) with details as follows:-

The Seoul Central District Court will resume its hearing on the compensation suit filed by Burjaya Jeju Resort against JDC at 10:10 am on March 20.

So need to wait until March 20 for resumption of case?

I have no idea why VS can drop so much in a day..
If not because of the last minute 1.4m buy there price would have been 1.34..

flexibt EGM incoming... Gone case

Although i have invested in AA for sometime but never gone to any AGM. I think, i'm going to take leave and go for this. Going to be interesting.. April / May GM here we come.

It also cited an angry email from one of the executives to a senior Airbus official.

“You owe me four million already and I’m owed 16 million in total. This should have been paid ages ago when I bought the first 60 aircraft. I want my money,” the paper quoted the email.

According to a Guardian report in November 2015, Tan Sri Tony Fernandes and Datuk Kamarudin Meranun, respectively Group CEO and executive chairman of Air Asia Group Bhd, and major shareholders are listed as shareholders of Queens Parks Rangers. Fernandes and Meranun were also co-chairmen of F1 team Caterham.

Lol, Tony and Kamruddin think this is pasar is it.. Look at the email.. So opening asking for bribe money.

Okay to steal on transportation's of the land, sea and now sky.

Hope MACC calls them in, even if its not in Malaysia and fine the individual.

It means that, there was a chance that AirAsia could have bought planes for USD 105M @ RM 450m cheaper than its current price.
Big revelation actually because thats around 23% of AA current quaterly revenue. Imagine how much it could affect on profit, if it was taken to account then how much of earnings per share. Even more bigger if its on AAX which has been lost making.

Dividend is 0.05sen * 4 = 0.02
0.02/0.495 = 4.04%

Still the highest FD for 12 months now is 3.9% by Affin bank.
Investing in Pantech at current price is still better than FD.

If the last dividend for the year is 1 sen then even higher dividend yield.
A good price to enter would be below 0.49 i guess.

Not sure what the management is trying to do with the buy backs.
Does not seem like they are very interested to buyback more like for show with 3k , 6k shares out of 400k volume.

Need to wait for results next quarter and maybe extension of naga contracts or gait orders.

The Transport Ministry says it will review the handling charges for e-commerce parcels imposed by the airport operator next week, in a bid to make Malaysia more competitive in the industry.

Minister Anthony Loke Siew Fook said the handling charges are constantly brought up by logistics players.

"Right now, when we conduct e-commerce in KLIA (Kuala Lumpur International Airport) or in any airport in Malaysia, for every parcel that comes out from the airport, there is a charge of RM5 imposed by the airport operator.

"We want to re-look at that and we want to review, and we are in discussions with MAHB (Malaysia Airports Holdings Bhd) on how to make that more streamlined and more competitive," he told media after the launch of the GTR Air Cargo Hub here today.

Loke said the government plans to review the handling charges to reduce the overall cost of every parcel.

"The nature of e-commerce (is that) sometimes a parcel is not very high in value. For example you buy a t-shirt which might only cost you RM30-RM40.

"By the time you buy the t-shirt and it reaches here and is posted to you, if the charges are too high then that makes your whole e-commerce activity not too competitive," he said.


Good one. Play volume and lower price!

Ended the day flat even with contract win.. Kind of sad case actually, when it was such a green day..