anyone knws how to count average price with bonus issue.
Price divide by 4, multiply by 3?

KUALA LUMPUR (May 15): UMW Oil and Gas Corporation Bhd (UMW-OG) is "cautiously optimistic" of making a turnaround in the current fiscal year if last year’s positive momentum continues.

Chairman Datuk Abdul Rahman Ahmad said the drilling and oilfield services provider recorded positive results in its third and fourth quarters of last year — the first quarterly profits since 2015.

“We believe the company is on a strong trajectory to move forward, and we are pleased with the continuing strength of oil prices.

“We hope this will encourage greater capital expenditure by oil and gas companies, which would mean an increase in demand for our oil rigs,” he told reporters after the company’s annual general meeting here today.

The challenge this year, he said, was to replicate the performance achieved in the third and fourth quarters of 2017.

He noted that although the oil price outlook was improving, charter rates remained depressed.

Meanwhile, President Rohaizad Darus said UMW-OG was optimistic about its operations in the medium-term, as he saw more jobs in the pipeline.

For its seven jack-up drilling rigs, the company achieved about 95% utilisation rate in the third and fourth quarters of last year.

“Currently, five of the seven rigs are under contract serving multiple oil and gas operators, representing 71% utilisation rate, while we expect to secure contracts for the other two rigs by early July. Therefore, we believe we are going to do slightly better this year,” he said.

Rohaizad noted that charter rates were stabilising, with a slow gradual upward movement.

He said the company, which has an order book of RM725 million, was aggressively bidding for additional contracts valued at US$660 million to replace the contracts that would expire.

The President said about 90% of the existing contracts were due to expire by the third quarter of this year while the balance would be carried over to the first quarter of next year.

The company had bid for 15 tenders internationally and another 15 locally, and it hoped to clinch at least six contracts this year, he said.

On its bidding success rate, Rohaizad said the rate was very high for local bids, but internationally, it was below 10% at present.

Among the countries where it is bidding are Vietnam, Indonesia, Thailand and Myanmar.

He pointed out about 90% of the current order book's value would be accounted for in this year's revenue.

At the annual general meeting today, UMW-OG received shareholders’ approval for a proposed change in name to Velesto Energy Bhd following its demerger from UMW Holdings Bhd late last year.

Abdul Rahman said the new name reflected its independence from the previous holding company.

He explained the root word “veles” in the new name meant “dragon “ in the Slovak language, which was an extension of the company’s established brand name for its jack-up drilling rigs, the “Naga” fleet.

Sumatec might be one of the lowest share price we will see in bursa tomorrow.

Its a PNB linked stock, sort of semi-government.
But from what we know UMW had plan to break away their O&G from their other operations.

Plus, oil price is recovering at USD 77 per barrel for June futures with the Iran US conflict still ongoing.

Syed Saddiq Syed Abdul RahmanLike Page

Unspoken hero- Tony Fernandes.
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I’d like to share with you something i have been keeping to myself for a while now. I couldn’t share it before because we were imprisoned by the politics of fear. Activist, politicians and businessmen who were not in line with the ruling party’s ideology were threatened and pushed to a corner.
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I must share this now as i can’t stand witnessing a hero get wrongfully accused.
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This is a story that many don’t know. I had to keep it a secret, but in this new era, an era where your right to speak is being uphold, it is time for change.
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This is about Tan Sri Tony Fernandes.
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He was among the first persons that came to the aid of Tan Sri Muhyiddin Yassin when Tan Sri was punished for speaking truth to power.
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He was once again a hero when AirAsia offered discounted flights and added flights during the election period. This infuriated some people in DS Najib’s circle. It became worse when DS Shafie’s (WARISAN) team uploaded a poster thanking this move as it meant that more WARISAN supporters can fly back home to vote.
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It didn’t stop there. He refused to fire Tan Sri Rafidah Aziz after she spoke openly against Datuk Seri Najib Tun Razak despite being pressured to do so.
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He remained vigilant.
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Those actions came with a cost and he has to pay for it.
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He was pushed to a corner where he had to openly declare his support for the then ruling government. He had to take a video and his staffs had to change their uniforms. Pictures of the whole event were taken without the right context.
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Please Malaysia, don’t label him as a pengkhianat.
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This story is based on my own personal knowledge. TS Tony has helped us from the start, but can’t disclose it to the public due to the fear of repression. I leave it to the Malaysian people to judge.
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But what I can promise you is this.. the start of this new era will ensure that your right to openly criticise the government will be guaranteed. You can openly endorse opposition parties without the fear of being persecuted.
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We want a strong opposition. So businessmen, feel free to support any sides. We are now living in a new Malaysia.
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Happy new Malaysia everyone. Malaysia now belongs to the Rakyat. Thank you Tan Sri Tony Fernandez. Keep on Making Malaysia great.
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SYED SADDIQ

Guys there is in insta post on Syed Saddiq on Tony Fernandes.

Have a read.

Going down... this one wrong move by ceo go blame him

Just asking do you know why china buys soybean from US??
Its not for the oil, it is used as feed for their hogs (pigs). Nothing to do with soyoil or palm oil.

Half of all pigs in the world is in China, and a huge fraction of the soy bean is used for pig feed. Soy bean was discovered by animal nutritionists that 1 part soy bean meal with 4 parts grain, will sharply increase the efficiency with which livestocks and poultry - including the pigs - convert the grain eaten, into animal protein (aka meat).

KUALA LUMPUR: Supermax Corp group managing director Stanley Thai has expressed regret for campaigning for the opposition in the 2013 general election.

In a formal apology to Prime Minister Najib Razak at a press conference here, Thai said he was influenced by the opposition’s propaganda in the previous general election, and realised that it was wrong for him as a businessman to be involved in politics.

“As a member of the business community I like to see political stability. Businesses operating in Malaysia will continue to prosper with the sound economic policy of the ruling government that is led by Prime Minister Datuk Seri Najib.

“Foreign investors will continue to have full confidence to participate and drive the economic growth and continue to expand their investments in Malaysia,” he said.

Thai also expressed his disappointment with the state of Selangor’s management of the water issue, as it had cost Supermax, one of the largest rubber glove makers in the world, millions of dollars and hindered its growth.

“Our last two projects there were delayed for two and a half to three years due to the water supply issues in Selangor, where most of our plants are located,” he said, adding that Supermax has a total of 11 plants nationwide, eight of which are in Selangor.

Thai said he believed that good governance and management are key to industry’s growth, and that he will continue to fully support the government’s policies.


Shameless guy. He is contradicting himself when realized that it was wrong for him as a businessman to be involved in politics. But at the end praise Najib.

Wow, nvr expected change name to drop so much. Why!
Damm i have 100k shares, dont think i have enough to average down now.

Company might buy back if price drops..
Long term investers just ready $$ to average down. The storm will pass. Maybe 1 week maybe 1 quarter who knows

I average down once last week, should have waited abit longer.
with VS nw below RM2. Really too late to cut lose.

Malaysian offshore driller and oilfield services provider UMW has learned the date of the arbitration hearing aimed at resolving its spat with Frontier Oil Corporation related to a rig contract award signed in 2014.

The two companies in 2014 signed a contract under which UMW was to provide a jack-up drilling unit, UMW NAGA 7, and other related services to FOC, for on FOC’s SC50 Block offshore the Philippines.

UMW says the contract had stipulated that Frontier was to have arranged for the issuance of a bank guarantee of $5 million and an advance payment of $5 million within the time stipulated in the contract, ie; on or before December 2015.

The Malaysian driller said that Frontier then “failed to, refused to and/or neglected to arrange for the said bank guarantee and advance payment,” despite repeated reminders.

According to a 2016 article by the Philippine Star, it was UMW who terminated the rig contract after Frontier Oil attempted to negotiate lower rates due to the falling oil prices.

Arbitration notice


UMW Offshore Drilling then in early 2015 served a notice of arbitration on Frontier Oil Corporation to seek, among others, an award for damages and compensation for all losses arising from what UMW described as FOC’s breach of contract “but not limited to the early termination fee amounting to $19.2 million.”

According to UMW, in August 2015, FOC filed a statement of defense saying that UMW was not entitled to the early termination fee, damages, cost, interest or any other sums. FOC at the time did not make any counterclaim against UMW.

FOC in counterattack
However, a year later, UMW has said, FOC served an amended statement of defense and counterclaim seeking its alleged loss and damages on account of alleged non-performance and/or breach.

FOC is seeking $20 million for an alleged loss of revenue or value that FOC would have obtained had UMW not breached the contract, and damages reflecting an alleged loss of the extended well test value in the sum of $9.70 million.

Furthermore, according to UMW, FOC has asked for a compensation for the cost of wasted expenditure of $1.36 million; liquidated damages in the sum of $3.84 million; and interest and costs, fees and expenses associated with the arbitration.

UMW then served its amended response to these claims in October 2016 and April 2017. FOC responded by filing a revised counterclaim on June 2017 and UMW then again submitted revised response in July 2017.

In a statement on Friday, March 30, 2018, UMW said the arbitration hearing was scheduled to be conducted in Singapore from April 2, 2018, to April 6, 2018.

“The company will make further announcements on any material development on this matter,” it added.

Offshore Energy Today Staff



FOC got counter claim so not sure good or not...

I will que at 0.30 after salary, lets hope i can get some.

I'm honestly scared of how bad Huaan will drop on Monday. Dow dropped another 4XX pointss yesterday.

If tomorrow 0.70, i will top up what ever i have into it... I'm serious.
Might drop but probably nothing more than 0.050.

Trump traffic for steel going to start implementation this Friday. Expect all steel counter going to fall more this week. Huaan might follow the same pattern.
I will buy in again next week, after things settle down. I'm regretted that time when i sold all at 0.50, for it to bounce up to 0.60 again but now looking at the price not too bad choice.

I have sold all my shares but I do not understand the last part.

In the event OldTown is unable to comply with the public spread requirement as a result of acceptances received pursuant to the offer, the offeror has no intention of taking any steps to address the shortfall in the public spread requirement," it added. (The Edge)

What does , "the offeror has no intention of taking any steps to address the shortfall in the public spread requirement" mean?

i just bought 80% more shares yesterday to average down.
Should have waited, should have.. hahahaah

Wow, pleasant surprise. I only have some lots never the less, i'm happy.

I just received the offer this morning. Going to wait till the end of this week before i sell.
Just to see their quarter results which should be out soon, if its bad then just sell if its good then might hold awhile more.

whats the tp of this stock? RM0.60?

Almost 40% of my capital in this share, i need it for cny shopping in bursa. Already wait so long, better wait another few more days.

https://www.bloomberg.com/news/articles/2018-02-08/everything-s-a-sell...

“People are aggressively taking profit,” said Innes, Asia Pacific head of trading at Oanda in Singapore. “They just want to unwind risk and take cash. The slide of Chinese equities in the past few days has definitely had an impact on the currency.”

All come and dump money here? or start panic selling here also..

Looks like can close green. Lets hope.

today close unchange, 0.305.
Repeat everyday UMWOG daily cycle.

Top up when ever there is any drop, very strong counter for long term. At least 1 to 2 years to ripe.
For me will buy anything below 0.82

I strongly believe tomorrow will drop some more before going green.

Just sold all my shares in HUAAN. Not much profit bt better than non. Good luck guys.
Will enter again soon depending on DJ tonight.

Only good news, at least we don't need to worry about local funds selling if price around / below 0.30.
Try average down then look out when price 0.325 to 0.335, they gonna sell big time.

If they sell we all kaput.

This is really bad, at 1 point i had 40%+ paper profit from this counter. Now negative. I should really learn to take profit. No point holding so long, sell buy back.
I still believe the companies fundamental but capital protection is equally important.

Need to start buy queue at 0.065 tomorrow if can get good, if cant its okay not loosing anything also. Then hold until result out end of Feb.

Global coffee maker Jacobs Douwe Egberts BV's (JDE) takeover offer for OldTown Bhd has turned unconditional after receiving valid acceptances totalling 238.32 million shares or a 51.45% stake in the company today.

In a filing with Bursa Malaysia today, CIMB Investment Bank Bhd, which represents Jacobs Douwe Egberts Holdings Asia NL BV — the indirect wholly-owned subsidiary of JDE, said the unconditional offer will be kept open for acceptances for at least 21 days from today.

On Dec 11, 2017, OldTown received a pre-conditional voluntary general offer from JDE in a deal that values OldTown at RM1.47 billion or RM3.18 a share. OldTown's shareholders — Old Town International Sdn Bhd (42.58%), OldTown's management director Lee Siew Heng (1.34%) and Mawer Investment Management Ltd (7.52%) — who collectively hold a stake of 51.45% in the group, had provided irrevocable undertakings to accept the cash offer.

JDE does not intend to maintain OldTown's listing status.

Shares in OldTown closed two sen or 0.66% higher at RM3.05 today, for a market capitalisation of RM1.41 billion. Its share price has risen 7% since its announcement, from RM2.85 on Dec 10.

This means all shares goes at RM3.18?? Anyone know if i queue to sell at 3.18 or i just need to wait for them to offer me?

I'm already queuing to buy at 0.320, probably need to change to 0.31. Need to lower down cost. If drop buy again next week.

See tomorrow Amanah throw share again.. Get 1b share at 0.3 throw 100m share good investment plan,throw 0.35. Awesome deal, 5m profit.

PANTECH GROUP HOLDINGS BHD declared Interim Dividend - RM 0.005, the Ex Date on 28-Mar-2018.
Another round of dividend, how did i miss this news. I would say quite a stable price and reasonable dividend. I probably should top up more when it dips a little.

Just checked they(AMANAHRAYA) own another 43% of UMW. They have another 3,036,006,227. If they sell everyday, it will drop all the way

Sold all at 0.115, waiting for drop to collect again. Next time even more.

Is it not the opposite most companies will quote using USD instead of ringgit.

Buying to average down, sure can one.. Mid term.

Bought at 0.445 wanted to get last week but no bullet, better late than nvr. My tp is quite low 0.6 lets go.

Very new to investing in Bursa and i enjoy reading all blogs here and in other sites. Reading is knowledge and thanks for providing your thoughts.

As of now only 1% profit for the past month excluding divides.
If include other investments close to 15% this year. Lets hope we all earn more next year and become better investors.