After reading thoroughly the result of UMWOG, in conclusion this 4th Q results showed significant improvement in revenue and gross profit vs previous year and preceeeding Q results. If you take away the impairment losses, there is actually a profit of RM 13.5mil vs a loss of RM 135.5mil in the 2016 Q4. In addition, there was increase in the drilling segment with 95% utilization rate currently vs 90% ( preceeding Q) vs 19% (last year 4Q) due to stabilizing crude oil prices of $60. The heavy impairment losses of RM 980mil this Q is already been expected and predicted by other research houses eg TA enterprise . According to UMWOG, the additional impairment was crucial this Q of RM 982mil vs RM 780mil. As at 31st December 2017, the Group impaired its assets by RM982.1 million mainly due to revision
in basis and assumptions including charter rates, utilisation rates and discount factors, to take into
account the latest developments in the drilling industry. The revision has resulted in lower projected
discounted net cash inflows from the Group’s asset.
As at 31st December 2017, the United States Dollar had weakened against the Ringgit Malaysia by
about 9.5% compared with the exchange rate as at 31st December 2016. This had affected assets
and liabilities upon translation of the Group’s assets and liabilities denominated in USD to RM, the
presentation currency of the Company. The net impact to equity as at 31st December 2017 was a
loss of RM232.4 million. As a summary, i think UMWOG is growing and able to utilize its jack rig to 95% currently and able to generate cash of RM 693mil vs RM 330mil previous year. It has also able to par down its borrowings to RM 1.85bil from RM 3.772 bil. Operating cash flow is positive at RM 83mil vs RM 55mil. UMWOG is affected by volatility in global crude oil prices and forex rates, which will affect the translaton of the group's liabilities and assets which is denominated in USD to MYR. For myself,after considering the above growth potentials, i will continue to keep UMWOG, but will not buy more of this shares. I will not invest alot of money in this stock, but keep my investment in it to the minimum. For sure, there are larger room for UMWOG share price to grow and limited down sides due to 1) increasing global crude oil prices 2) political play for GE 14 3) Big funds EPF KWAP as major share holders will help cushion the price from falling further. 4) More umbrella projects to be awarded by Petronas

Buy as much as posible

Good results but yet price went down? Something not right

TP at RM 4.40 by UOB Kayhian

Buy as much as possible, share bonus issue coming

What England are you talking about @ragrag?

Posted by ragrag > Feb 27, 2018 12:10 AM | Report Abuse

Company make more than 100 mio a quarter, EPS 24c and abandon contract in hand plus right industry.......

"abandon" --> to leave/ to give up

Terrible results

It will not be impossible for GKENT to touch RM 5.00. Time will tell when the HSR project is revealed

Why must you worry when there is growth?

Good set of results from Padini

Wonderful results by Serba; there is growth in all segments.

Buy as much as possible

wow suddenly so many comments in Econpile with new facies here.

Wonderful set of results from Inta, EPS 0.92 sen!

Wonderful results for Econpile. Congrats everyone

pls buy as much as possible...good news coming tomorrow

Buy as much as possible...good news coming

As long as there is still growth, the company still good

Wonderful results by Kerjaya, revenue and net profit up 10.5% respectively..

26/2 announcement of Q4 results which is expected to be very good.

Good stock, buy as much as possible, hear say the HSR project will be most likely be awarded to Gkent group this March together with a share bonus 1:3

Hopefully there are good news coming for GKent

Hopegfully Inta will follow HSSEB footsteps

up up up

There are counters which are priced at PE of 88 e.g. Msia Airports and Axiata. Many of USA shares are also priced at PE of 30-50x. It's the growth momentum which are supporting the company.

Buy as much as possible Nestle.

Congrats to all holders of Nestle, net profit up 99%, Div RM 1.35

up up up 40sen

Wishing all share holders of NESTLE a Happy and Propsperous CNY . May abundance and wealth be with you always!

Wishing all share holders of INTA a Happy and Propsperous CNY . May abundance and wealth be with you always!

Wishing all share holders of GKENT a Happy and Propsperous CNY . May abundance and wealth be with you always!

Wishing all share holders of Serba a Happy and Propsperous CNY . May abundance and wealth be with you always!

Wishing all share holders of Kerjaya Prospek a Happy and Propsperous CNY . May abundance and wealth be with you always!

Wishing all share holders of Econpile a Happy and Propsperous CNY . May abundance and wealth be with you always!

Huat ahh! sold all my holdings in HSSEB RM 1.96 today with a cost price of 75sen.

Gong Xi Fa Cai everyone!

New fund buying into Econpile yesterday

My cost price for Nestle just RM 18.00 in year 2008/09

The coming results for Econpile will be very good.

CEO keeps buying yesterday and today from price 3.41

up up up!

Buy as much as possible, the coming results will be very good

@ You+ Mee : why are u still in this forum when u had just sold all your holdings in Econpile?

up up up 1.17 now

CEO keeps buying back Serba shares lately...the Q results mustbe very good

Fund manager selling Econpile shares, but its good for me to buy.

Good opportunity to collect when goes lower

TA enterprise revised its TP For Serba RM 4.16

Up up up!!

Pls buy from the news stand...only RM 5.30 per copy

The shares are placed out today, will see some resistances here and there, but support at 3.20-3.30. Dont worry, buy on weakness