Posted by Gen2 > 2016-10-27 09:59 | Report Abuse

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The huge jump in ping investment is derived by equity method, therefore it is not continuous but one off item.

Posted by klsetitan > 2016-10-27 10:11 | Report Abuse

it would be great if author can delve more into the Anasuria oil field (cash generating investment), the cost (mostly in British Pound) and the production rate of the field. coming new contribution will be from OGPC, NSW, on top of 30% in Ping Petroleum, rental ard 300k a day from Bakers Hugh, Drilling contract from Petronas.

Posted by Gen2 > 2016-10-27 12:29 | Report Abuse

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klsetitan@

You seems like having some insights with this company. Might to share your advise for long term ? Electric vehicle is a definite disruption and do you think the future of O&G would so be intact with the going forward of DNEX ?
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Posted by alvinchiam > 2016-10-27 13:20 | Report Abuse

buy

Posted by klsetitan > 2016-10-27 18:22 | Report Abuse

Most of what I know is from the sources shared by other authors. I'll relist what others have shared:
-OGPC has a increasing profit record for 4 yrs (2012-2015) of 17m-23m continuously (this shows that it has solid moat, believe to be monopoly in supplying equipment and valves for new and maintenance to O&G especially petronas). 2016 net profit shd not be less than 17m
-National Single Window (NSW) just renewed for another 2 yrs. A lucrative monopoly business
-30% in Ping Petroleum. Ping and Hibiscus each own 50% of Anasuria oil field in North Sea. Anasuria is a oil producing asset therefore cash generating asset. If u believe the valuation of Anasuria cluster it is worth RM840+m with its reserve (new estimate by 3rd party). daily production rate ard 6000-7000 barrels, cost of production abt USD23 per barrel (could be lower due to lower Pound Sterling). You can do the maths with the average oil price lately average USD40-45+-. Most cost are in British Pound as it's in British water. However, the profit is highly dependent on how many times the oil is offload from the FPSO. Last qtr only 2 offloads, if more this qtr profit will be more. For more detail pls refer Hibiscus report, u js need to focus on Anasuria part.
-average 330k rental receive from Baker Hugh. Contract period 4+2 yrs, starting frm June 2015
-Dnex Oilfield recently won a 3+1yr contract from Petronas Carigali starting from April 2016-2019.
-VEP contract. Another lucrative monopoly business, commission for each car entry -to Malaysia initially started at Singpore-Malaysia border , now project extend to Thailand border. Can u imagine how many cars in and out of msia?
-Renewable Energy with China Everbright, Broadgate ENgineering & Hydro China (so far no contribution). Pls google China EverBright and Hydro China
-E commerce (Global Halal Exchange)

Hope you enjoy reading.. :)

Posted by Wonder88 > 2016-10-31 05:10 | Report Abuse

Hi klsetitan,
Thanks that you have provided some simple but good information. Anyway, I have extracted some good information from the Theedge Financial Daily (published on 31/10/16) and updated into my article, probably you and interested investors can go through the article.