remember the short sell need to cover at the end of day, so the price will push up again...

fundamental is strong.

@ kelvin_ik4u
On top of it, lower oil price and deferred tax cause it to further drop. Also hibiscus spend alot of Capex to expand its oil production facilities to improve its current oil production volume of 7.6mil barrels oil to 20mil barrels oil in 2021.
===================

I think the statement is misleading, the target of 2021 is 20,000 bbl/day (7,3 million bbl/year), current is 12,000 bbl/day. They don't have the oil producing asset for the gap of 8,000 bbl/day, hence potentially they are looking to purchase more asset (quick fix) to cover the gap. Don't be caught out if they are raising capital via share dilution (via private placement)

of course oil price is an important factor, but it is a variable that is beyond the control of the management. What management can do is to manage risk regarding the expense cost (to increase production but not to expand too quickly) and the cost per barrel (which is what the management is doing really well). The management also did well of production expansion by having a sharing cost mechanism with other partners, thus reducing the risks involved in the investment.

their goal is to ramp up the production of oil, hence their increase of expenses for these activities, also with the EXPECTED planned maintenance and low oil price last quarter, the net profit dropped. fundamentally nothing changed, the FA is good, profit making company with 0 debt, key figures to check out is the oil production per day, also take note of the sale of their per quarter, which is not consistent every quarter but looked from an annual report perspective. some above have already state the obvious. if you follow the webcast and their thick annual report book, you will understand their operation.

you can trade with etrade. just open a trading account outside...just be aware that trading involve the risk of "currency exchange" on top of the stock performance.

oh noe, i miss out on 0.915

@sorry superpanda, i was pulling stockkeepers leg.

profit should be around 1 mil only

@rioy707,
Dericlock @miz raya, dont need to wait for them or dont even need to care them at all (or maybe all just imaginative).
Look at the value/cash added by hibiscus alone, ignore the price (aka noise). The cash/asset growth alone already cukup makan (8 cent per year), sleep soundly when u know got a company everyday printing money for you. haha

like i said, the girl is hot and you said it is not. i am looking for a wife but you are looking for one night stand...

@mitchu, you buy la sapura energy and reach. your investment horizon will be different if you invest 10k vs 100k.

@Money122 oil price is volatile day to day, as super panda said is uptrend month. new sources tend to report it as major news...

management has no much control on the pricing, what we want is to understand the business (transparent reporting), how management deliver the numbers, and the financial numbers from the quarterly report (ROE, ...,etc). Bear in mind, Hibiscus is a growth stock, not yet an dividend stock, so we should pay particular attention on the strategy of the management to grow the business (how they utilize the gearing, borrowing, vs the profit), etc. Eventually, the financial numbers keep going up until it is hard to ignore by mr. market. If you tell me that Hibiscus declares dividend now, and at the same time borrow some money to expand, then that it not so smart (like some funds that declare high dividend and keep on borrowing to provide the dividend).

and EPF is stupid?

you mean SM is stupid??

Revenue % is dropping much faster QoQ, also the operating expenses is still too high, hence the recent retrenchment announcement to mitigate the revenue decrease. Their loss income QoQ is eating on their cash pile...if care is not taken, it wont survive in the coming quarters.

maybe an announcement for a new aaset ;)

thanks dex!

the quarter report will be so so i think we just play attention to oil production numbers and their upcoming plans to increase the numbers, that will change yhe company fundamentally. as for ir oil price, its hardly saudi alone to control the prices with US in balance.

idss some mote in the morning need to pay back now...

at least MEDIA can minimize the loss since utusan malaysia readership has gone to other newspaper like BH, Metro, etc.

low gearing, ~20 + roe, potential growth on oil volume, 0 debt, enterprise value < market capital ... compared to other oil and gas companies... no brainer unless there is something wrong fundamentally wrong the company... transparent reporting.

https://www.thestar.com.my/business/business-news/2019/11/02/media-prima-undertakes-internal-restructuring

i agree with dericlock, that should be no dividend as they need the capital to increase production. as a matter of effect. i think thry will neec to source for funding...

Based on the Annual Report, I am pretty sure that management is looking to grow beyond12,000bbl/day:

We foresee that for our sector:
• There will be new venture opportunities emanating in
Malaysia as the fields in the Malay Basin mature and
established players review their portfolios;

https://www.theedgemarkets.com/article/exxonmobil-exiting-malaysia-focus-permian-basin

7719+1600+900+2000(forecast) =12219bblday.

dropping to 70 cents is about pe ~ 4 to 5, which is hard to ignore with thwir production stabilizing at 12000 bbls per day, not considering full effect on earnings...

i agree, they still need money to develop the marigold field, ans i think the looking at fundings be it private placements, etc.

roe ~ 20%, pe ~ 6, 0 debt, forecast eps ~ 18 sen vs 14.7 sen f19 ...

@Dericlock, it seems that you are long enough in this counter, could you give me overview what happen 3 years back with the lawsuit against Lime Petroleum? I read that Hibiscus lose quite some money over there due to dilution of their stake that they purchased.

GUA-P1 side track is a little bit overdue.

I believe we are due an announcement this Nov for SF30 infill drilling (4000bbls/2) if you look at the target completion date in the slide presentation.

For F20, Forecast barrels (from webcast) = (7,719 * 365days) + (3200/2 * 30day * 9mth) + (4000/2 * 30days * 6mth) = 2817435 + 432000 + 360000 = 3,600,000bbls.

F19 was at ~3 300 000 bbls.

just listen to the webcast to understand the long term goal.

if you read carefully, Q3 is going to be worse as ASP for Q3 is still low and MSM needs to service high Interest rate of the buiding the new refinery. going back the Q2 report where revenue barely covers the cost of sale on top operating expenses + loan interests, hence the disposal of the chuping land.

please listen to webcast it was planned.

next quarter profit report expect to drop due to planned maintenance, but remember that they ramp up production with 2 well enhancing activities to boost production by 4000bpd estimates, should be some news this coming nov.

this quarter is expected to drop due to plan maintenance but should have some update on sf30 infill drilling next month to boost production by 4000bpd and also GUA P1 side track.

i can see the motivation is todo side way trading but fundamentals of the company does not change.

collect la pchem

TAN Sri Syed Mokhtar Albukhary is said to be hatching up a plan to buy a 20% stake in FGV Holdings Bhd, which could see him eventually take control of the company, sources familiar with the matter tell The Edge... sources say this, sources say that...

https://www.thestar.com.my/business/business-news/2019/10/01/palm-closes-at-near-8-week-low-on-weaker-related-oils

shouldnt it be sell on rumor?

old news

this is impacted by msm holdings + palm oil ASP

thank you pchem

dividend payment today?

egm today