NASDAQ listing have few categories, if it is OTC, the regulations is very very loose, it is much much easier.
much much goreng.
The untold fact

NASDAQ listing have few categories, if it is OTC, the regulations is very very loose, it is much much easier.
much much goreng.
The untold fact

Posted by Stocksafeplayer > Jun 23, 2021 1:26 AM | Report Abuse

Announcing EY was chosen and then yest confirmed EY not appointed….confusing betul.

do you think it is confuse?
as someone said, could be EY dont want the appointment?
or SD dont want to do that in the first place? just delaying?
only SD know the best

世霸审计疑云Part 51】“审计符合专业标准” 毕马威:公堂奉陪到底
2021年06月22日
毕马威大厦 KPMG

（吉隆坡22日讯）世霸动力（SERBADK，5279，主板能源股）因审议疑云一事喊告，毕马威在回应《南洋商报》询问的电邮中指出，潜在索赔涉及仍在进行中的法定审计，该公司无法发表任何评论。

“审计是按照相关专业标准进行的。我们认为对方的指控没有任何根据，并将强烈反抗任何的法庭诉讼。


毕马威与安永、普华永道和德勤齐名，是全球四大会计师事务所之一。

根据毕马威公司网站，它从1928年起就进驻马来亚，为商企、政府单位和非盈利机构提供审计、会计和顾问等专业服务。

华人有一句：做戏做全套

thanks 1994 investors
initially i was attracted to the company after reading several promotion blog writings, but after reading latest annual report n have some analysis, yes, some of the projects awarded to the company are RPT, the value seem inflated....
am uneasy with the co revenue and cash flow...
be careful guys, do own due diligence before investing..

PAT margin not as good as last quarter due to normalised of income tax rate..
if same like first quarter, will be around 10m.. mah
short sighted? or want to buy cheap...?

from the FDA list, most of it seem like latex gloves, does it invlove nitrile glove? not sure? if yes hoe many %? and comfort product how many % nitrile?

if you invest in comfort, it is important

one thing for sure, jolow say comfort export to US is 80% is not true,
just less than 35%, whether he is mistake or have other purpose, you all make the decision

FDA list is not unusual think, top gloves inside the list, supermax just 'release' from the list not long before, just few weeks

https://www.theedgemarkets.com/article/comfort-gloves-active-jumps-1067-clarifying-exports-us-not-affected

Price near record high, GG

Aiya, why up so fast

Good, will load more

need pay more than 300m before 31dec2019

REACH have more than 300m liability need pay to corporate share holder in subsidiary, can this consider debt free??

Take all infor with pint of salt.
shall only trust quarter report and annual report information

狮城电子厂大裁员 当场点名 一片哀嚎
http://www.enanyang.my/?p=1190667

狮城电子厂大裁员 当场点名 一片哀嚎
http://www.enanyang.my/?p=1190667

Major customer AMG Singapore factory retrenched more than 600workers as reported by enanyang

please take all promote with pints of salt

the cost $18 pb remind me that when some sifus and REACH management claim that their cost is less than $10 pb, yet Reach made loss when brent $75pb

and the i3 blogger MagicMerlin said Sumatec worth at least 56sen with " sophistigate " calculation, Sumatec raise from 6sen to 12sen, and the MD dispose the share, see what is Sumatec now

the cost $18 pb remind me that when some sifus and REACH management claim that their cost is less than $10 pb, yet Reach made loss when brent $75pb

and the i3 blogger MagicMerlin said Sumatec worth at least 56sen with " sophistigate " calculation, Suma raise from 6sen to 12sen, and the MD dispose the share, see what is Suma now

of cause Hibi is not same compare to Sumatec and Reach, however the profit is not such good as promoted.

Hibi need capex of 100m USD of Anasuria and North Sabah

when invest, please take into also royalty, capex, depreciation, sales and distribution , negative good will, Brent price, finance cost and etc..

just take all promote with pints of salt

cost $18 pb is just production cost at rig

north sabah oil sold from oct 2017 to sep18 is 2093506barrels, divide by 365days, is 5735barrel which is close to net oil production 4797 recorded in qtr end sep18

My sharing on hibi cost

Hibi total production during the quarter ended 30 sep 2018 is 3581x90+4797x90=754020barrels.

total cost is 360m-165m=195m
so all in cost per barrel is rm 195m/754k barrel
so is rm258.60 or $62.30 per barrel

assume did not take into admin & other expenses and ...etc
the cost is rm109m/754k is rm145.35 or $35pb
let say take the average, cost is $49pb

bear in mind that cost for upstream o&g producer is not just the production cost at rig

Hibi total production during the quarter ended 30 sep 2018 is 3581x90+4797x90=754020barrels.

total cost is 360m-165m=195m
so all in cost per barrel is rm 195m/754k barrel
so is rm258.60 or $62.30 per barrel

assume did not take into admin & other expenses and ...etc
the cost is rm109m/754k is rm145.35 or $35pb
let say take the average, cost is $49pb

bear in mind the cost is not just the production cost at rig

thank teoh,
all my sharing is open
i share a lot on reach, you can learn from my previous postings if you find it useful

Posted by teoh1128 > Dec 3, 2018 07:55 PM | Report Abuse

YLR33 please give me your telephone number,I shall call you personally,as Reach is my major part of investment.Tqvm

as someone said, REACH owe tonnes of money, a whooping near 700m
interest expenses around 50m annually

just she owe to subsidiary shareholder MEIH not bank, but money still need to pay, MEIH need serve bond

so is rather miss leading table
please take info with critical mind


Posted by toffeemoose > Dec 3, 2018 07:16 PM | Report Abuse

https://klse.i3investor.com/blogs/muze/184999.jsp

even if Q3 achieve 3500bpd, reach shall made lost 2m, Q4 if achieve 3900bpd, shall loss 2m by IB analyst (at time Brent >$75pb)

i will prefer REACH MD tell us the actual progress of CPF and when can 20000bpd (reach 12000bpd) can achieve

and what is reason why the Q3 production/revenue can be so low?

betul Azman, the oil reserve is valueable, but if the royalty, tax or the like is 40% of revenue (16m vs 40m) then is not so good,
plus you need 1100m in 3 years (capex 800m + borrowing repayment 290m) and yr annual revenue hardly 200m


Posted by Mohd Azman Yaacob > Dec 3, 2018 05:54 PM | Report Abuse

Beritahu itu shahul.. reserve saja no use... kena sedut itu minyak dan jual itu minyak...

teoh, r u asking production rate? here you go, again, just simple math,
entire calculation? do yourself, treat as practice


Posted by YLR33 > Dec 2, 2018 11:49 AM | Report Abuse X

Let see REACH Q3 result:
1) Revenue just 40.8m less than Q2 67m and Q1 42.4m despite appreciation of USD and claimed that daily production will increase.
Assuming Q3 average BRENT $73/m and 90% up time, Q3 production is just 1650bpd , a far cry from projected 3500bpd.

teoh, all my sharing is calculated from QR, you also can calculate youeself, just simple math will do, not rocket science

i am more than happy if you call tell me which part is not true

teoh, just spend 3 hours to read thru the QR throughly, if you really want to success in stock investment.

and next QR, you just need one hour to understand your stock qtr performance

Posted by teoh1128 > Dec 3, 2018 12:04 PM | Report Abuse

Tqvm, that means fake one

all point out during Sep18 just happen in Q3:
1) higher depreciation and armotisation
2) delay in CPF construction resume
3) no avaiable of funding to capex/ increase production,
and high capital requirement next three years
so the 9months 33m cash from operation is just a peanut compare to finance cost and capital commitment and borrowing requirement

although oil reserve is value, but not so when all in cost is so high, plus REACH just dont the finance strengh to tap into that

just recap back some info on the Q2 report

REACH finance cost per year around 84.2m

from Q2R pg 9 item A7 (i) first 3 item, interest at least 36m, prinsipal
payment at least 48.2m9 (total borrowing 627m divide by 13 years : 20yrs-7 yrs in operation)
the higher usd higher finance cost

total operating cost per barrel is high, previously calculated usd$55pb
could be underestimated, base on 1H2018, operating loss is rm1.7m it mean if the realised selling price is $72.55 (take hibi north sabah ASP, as somebody claim Reach quality similar or better than north sabah)
so with 2900bpd and selling price $72.55pb still run into operating lost rm1.7m(page 1 QR)

extract tax, export tax, export duty tax etc is 33% of Revenue, it percentage can only go higher if Brent go higher, which cannot mitigate by bigger scale of production

as CAPEX remain high until year 2023 (commitment, page 10) depreciation cost will go higher

even with current high Brent price, and 12000bpd on year 2020, HLG forecast earning 40m (not yet take Capex and financial cost into consideration)

12000bpd is with assumption CPF completed in 3Q18 (have been delay from 1Q19), and construction work of CPF only will be resume subject to funding avaialbility, part of $100m Reach is looking to raise (HLG report)

Q3 total lost is 18.3m, REACH own 60%, so loss shall be 11m, but just reported 5m, so can any sifu enlighten me on this?

Let see REACH Q3 result:
1) Revenue just 40.8m less than Q2 67m and Q1 42.4m despite appreciation of USD and claimed that daily production will increase.
Assuming Q3 average BRENT $73/m and 90% up time, Q3 production is just 1650bpd , a far cry from projected 3500bpd.
2)high royalty, extraction tax and transport cost, so all in cost could be more than $60pb
(Q2 profit generated from defer of interest payment, Q3 finance cost 5m, but no normalised yet)
3)Capex 139m needed in less than one year
4)Borrong repayment due in 2019 is 294m
5)Q2 report: CPF closed to resume, Q3R, no indication on this, expect further delay on CPF completion and production increment subsequently (could be due to no fund as HLIB mentioned in 3 month ago),

Dyna Neoh SK forecast EPS 17.2sen for FY19, if PE 10, TP rm1.72 almost same to PB invest

After take into consideration of higher production, lower production and logistic cost per barrels, the net profit after deducted for minority interest
quarter profit production (bpd)
1Q2019 RM 1m 5000 bpd
2Q2019 RM 1m 5000 bpd
3Q2019 Rm 8m 12000 bpd
4Q2019 Rm 8m 12000 bpd
total 18m for full year 2019

operating breakeven at more than 4000 bpd with higher depreciation cost and higher Brent come with higher taxes other than income tax per barrel

even with current high Brent price, and 12000bpd on year 2020, HLG forecast earning 40m (not yet take Capex and financial cost into consideration)
shall read as

...(earning befare take CAPEX and borrowing prinsipal payment into consideration)

Posted by Nicholasming91 > Sep 19, 2018 11:03 PM | Report Abuse

U guys can consider this counter REACH.

this is response to some forumer promote Reach here

REACH finance cost per year around 84.2m

from QR pg 9 item A7 (i) first 3 item, interest at least 36m, prinsipal
payment at least 48.2m9 (total borrowing 627m divide by 13 years : 20yrs-7 yrs in operation)
the higher usd higher finance cost

total operating cost per barrel is high, previously calculated usd$55pb
could be underestimated, base on 1H2018, operating loss is rm1.7m it mean if the realised selling price is $72.55 (take hibi north sabah ASP, as somebody claim Reach quality similar or better than north sabah)
so with 2900bpd and selling price $72.55pb still run into operating lost rm1.7m(page 1 QR)

extract tax, export tax, export duty tax etc is 33% of Revenue, it percentage can only go higher if Brent go higher, which cannot mitigate by bigger scale of production

as CAPEX remain high until year 2023 (commitment, page 10) depreciation cost will go higher

even with current high Brent price, and 12000bpd on year 2020, HLG forecast earning 40m (not yet take Capex and financial cost into consideration)

12000bpd is with assumption CPF completed in 3Q18 (have been delay from 1Q19), and construction work of CPF only will be resume subject to funding avaialbility, part of $100m Reach is looking to raise (HLG report)

REACH finance cost per year around 84.2m

from QR pg 9 item A7 (i) first 3 item, interest at least 36m, prinsipal
payment at least 48.2m9 (total borrowing 627m divide by 13 years : 20yrs-7 yrs in operation)
the higher usd higher finance cost

total operating cost per barrel is high, previously calculated usd$55pb
could be underestimated, base on 1H2018, operating loss is rm1.7m it mean if the realised selling price is $72.55 (take hibi north sabah ASP, as somebody claim Reach quality similar or better than north sabah)
so with 2900bpd and selling price $72.55pb still run into operating lost rm1.7m(page 1 QR)

extract tax, export tax, export duty tax etc is 33% of Revenue, it percentage can only go higher if Brent go higher, which cannot mitigate by bigger scale of production

as CAPEX remain high until year 2023 (commitment, page 10) depreciation cost will go higher

even with current high Brent price, and 12000bpd on year 2020, HLG forecast earning 40m (not yet take Capex and financial cost into consideration)

12000bpd is with assumption CPF completed in 3Q18 (have been delay from 1Q19), and construction work of CPF only will be resume subject to funding avaialbility, part of $100m Reach is looking to raise (HLG report)

No, quarter report announcement shall remain, especially so for technology, logistic, cyclical counter, because of fast changes environment
but brief prospect statement like now will do, no need near future earning forecast like American which will consume much time to management

CAPEX itself is neutral. CAPEX also bring along with high depreciation cost in subsequet years. it also depend of finance cost you able to secure for the CAPEX, and how much cash flow it created result from this CAPEX spending.

finance cost is no cheap for reach, unless private placements or right issue which will dilute EPS, and existing shareholders willing???

from 1H18 depreciation cost contribute 36% of Revenue. (Note is Revenue, not profit) and the Brent already average $65-$70 during this period and 2900bpd, ya, the production will increase and Brent may be good, but depreciation will be higher due to the capex around 200m,
then year 2020 you need another 570m, so high depreciate later and it just not end there , page 10 of Qtr Report

in short between 2018-2020 need external fund 1250m

HLG analysis taken into consideration of 12000bpd




Posted by B4b4 > Sep 17, 2018 10:01 PM | Report Abuse

The external funds are needed for CAPEX which is good for drilling new wells, meaning more oil production. Actually, these CAPEX is an advantage for Reach so that the new wells can be explore . That makes Reach Energy an EP stock

B4B4, if you read through the HLG research date 14/9/18, clearly Reach need to pay this fast, otherwise by Nov the interest already 14%. How many percent of PLC have net margin more than 14%?

Or may be MIEH need it before 2019 because of their bond despite Reach owe another 280m due in 2019




Posted by B4b4 > Sep 17, 2018 09:56 PM | Report Abuse

Hi YLR33, I wish to differ. Borrowings RM 177.877M with no fixed repayment period but has interest from 5% to 14% , RM 280.273 M at 5% interest due on 2019, RM 79.79 M at 4.86% interest due on 2036

external fund is needed in Year 2018 rm410m, 2019 is 280m and 2020 is 570m, 2021-2020 is 780m all is fact

is positive for newbie, negative for blow-blow stockrider

my friend just correct me, stockrider blow Heng Yuan TP42.00previously hoho
he loss not condo but condos, sembuyi in cave for few weeks
whole i3 know this
newbies see the true stockrider

most likely maintenance is one month arrange between 15sep to 15oct
so fall in two quarter just like last year anasuria

the PONDAN STOCKRAIDER talk cock
after loss a condo in HY, lengyap for few weeks
those who long in i3 know this well
just let all newbies know the true of hypocrat pondan stockraider

all my talking of reach is fact from QR , news and investment bank

last weeks MD said need usd50m, just less then1 weeks, he told FM need usd100m, this show the management quality

actually i dont want to talk hibi here, just somebody quoted hibi, so need let newcomer know the history

and the commitment is not end there , between 2021-2023 need 263m per annum