Oil drops more than 7% in worst day since September
(PUBLISHED THU, MAR 18 20211:37 AM EDTUPDATED THU, MAR 18 20212:40 PM EDT)
Oil prices sunk for a fifth day running on Thursday on a stronger dollar, a further increase in U.S. crude and fuel inventories and the weight of the ever-present COVID-19 pandemic.
Brent crude slid 6.94% to settle at $63.28 per barrel. U.S. oil settled 7.12%, or $4.60, lower at $60 per barrel, after shedding 0.3% in the previous session. Both contracts are down 6% over the past five days.
“Short-term developments - stuttering vaccine rollouts and the build in U.S. oil inventories - are driving sentiment, but the longer-term oil outlook is still encouraging,” said PVM Oil Associates analyst Tamas Varga.
“Yesterday’s U.S. Federal Reserve meeting provided a boost to equities ... U.S. economic growth has been revised upwards while unemployment is expected to decline.”
A sharp rise in the value of the dollar after the Fed meeting has also driven the oil sell-off.
Government data on Wednesday showed U.S. crude inventories have risen for four straight weeks after severe cold weather forced shutdowns at refineries in the south. An industry report estimating a decline had raised hopes of a halt to the gains.
U.S. crude inventories rose by 2.4 million barrels last week, the U.S. Energy Information Administration (EIA) said on Wednesday, a day after the American Petroleum Institute (API) estimated there had been a 1 million barrel decline.
Varga added the market would be waiting for U.S. manufacturing data next week for further indications on the health of the world’s largest economy.
“Lower crude demand from Asian buyers as a result of upcoming refinery maintenance and probably higher prices is also something not helping crude at the moment,” said UBS commodity analyst Giovanni Staunovo.
A slowdown in some vaccination programmes and the prospect of more restrictions to control the coronavirus have tempered expectations for a recovery in fuel use.
Britain said on Thursday that global supply bumps meant its vaccine rollout would be slower than hoped in the coming weeks but it expects deliveries to increase from May.
A number of European countries have halted use of the AstraZeneca shot because of concerns about possible side effects, though the World Health Organization said Europe should continue to use the vaccine.
oh no...oil prie drop.. most of the oil counter also dropping. zzz...
Record information below for my self ref: I'm not an expert and I'm not calling buy or sell. information may not exactly correct. please don't sue me. hahahahahaha this just for me to reference.
just a surface calculation. like 1+1+=2 based on the project lists provided by above ppl 2019 = 646.7 Mills (impressing) - share price up to 0.4X higher before 3 times PP (Total 16 projects) 2020 = 256.94mills( not bad, as in covid) - share higher price 0.26 ? a lot ESOS? (Total 4 projects) 2021 = 30.22 Mils (hope can get more) - share higher 0.21 after PP and ESOS ?(1 project up to Mar) hope knm can win more projects like 6XXmils projects..so the share price back to 0.3X after PP.
Thank you for sardin information. since the year 2020 to 2021 KNM private placement 3 times. knm higher price 0.46 with 646.7millions on hand before PP .
Use the simple calculation 3 times PP, mean share diluted 30%? 0.46-0.138(30%) = 0.322 <-- in order to reach this share price, atleast need 646.7 mils values project on hand? The easy method is look at the market cap value.
ESOS price at: 0.11 PP price at : 0.17 , 0.167 0.175 ( who is the buyer, until today havent annocemented the name, hope is a power investors) any one got this information?
8 quarters of consecutive profits since 2019. assuming. .....each project contributes revenues in 2 years (assume 1 project needs 2 years to complete). maybe longer? not sure. just assuming, maybe wrong?
Year 2019 (Total 16 projects) 2019 1st quarter report get profit since 2019 and maybe Won project in Jan to Mar 2019 ? 2019 2nd quarter report get profit may be because of Jan-Mar 2019 projects started and plus new project awarded between April -Jun 2019? 2019 3d quarter report get profit may be because of Jan-Jun2019 projea lotstarted and plus new project awards between July to Sept 2019? 2019 4th quarter report get profit may be because of Jan-Sep2019 projects started and plus new project awards between Oct to dec 2019?
Year 2020 ( revenue continue contriution from 2019? ) - Total 4 projects) 2020 1st quarter report get profit may be because of Jan-dec 2019 projects started. no new project ? 2020 2nd quarter report get profit may be because of Jan-dec 2019 projects started and plus new project awarded one project on jun 2020? 2020 3d quarter report get profit may be because of Jan-dec 2019 projects started and plus new project awarded few project between July to Oct 2020? 2020 4th quarter report get profit may be because of Jan-Dec2019 projects started and plus new project awarded one project on Nov 2020?
Year 2021 ( revenue continue contriution from 2019 and year 2020? ) waiting ........
To me fundamentally KNM is good and underrated. However price already stagnant quite sometime despite 8 consecutive good QR and many projectb on hand, making investors lost patient and easy to brainwash by naysayers. hence the best is management look into divident payoiut policy to restore the confident and company image. 1 cent also can make the diff to market sentiment. my only 1 cent view.
Jack Y, not need 10 cent. 1 cent will do. make a diff to company image. I sensed your frustration to keep mocking, Why don't share a bit positive message, thing will be good. Keep mocking doesnt bring good to every one here, tqvm
Why ppl can target rm3 at share price but I can't dream of 10cent dividend? I got high dream in knm hope one day can bring me to billionaire club. In fact I'm waiting knm give me good news so I can share everywhere to boost it.
Some institution only can invest in certain stocks if it pays dividend.profit increasing each qr .future plan of the co is clear.institution have own sop to follow.paying div shows the co appreciate investors.
Majority of shareholders of knm are retail investors.some keep for mid to long term hoping wte uk complete.thailand atenol production to expand to 500,000liter per day to become profitble.even small div from knm management to show they appreciate shareholders might help .Div also might attract more institution to.invest.Maybe 5% div from profit & the rest 95%of profit reinvest back to expand thailand athenol first as it need RM200 million refer to the article from the edge previously .
Instead of cutting down debts from RM 1.5 billion to RM 1.3 billion the RM 200 million this 2 years if i were ceo of knm i rarher expand thailand athenol to full capacity.sometimes in business if we want to earn more or expand we cant avoid to have more debts.As long the co is profitable & they can pay their debts it is not an issue.
When borsig & thailand athenol can give passive income to knm , profit will increase & might attract more institution to invest in knm .need big funding to start wte uk.......
Aware that some countries and giant corporates are setting up JV to develop hydrogen and ammonia as clean fuel. I believe borsig will somehow be benefited.
Shareholder Value (M) Inter Merger Sdn Bhd 26.44 Ooi Cheow Har 12.72 Lee Swee Eng 11.84 Aveda Assets Capital Inc. 11.65 Tokio Marine Life Insurance Malaysia Bhd 11.42 Bank Julius Baer & Co. Ltd. (Singapore Bch) 6.59 Employees Provident Fund Board 5.38 William Desmond York 3.9
Top 25 shareholders own 25.35% of KNM GROUP Swee Lee 3.39% Inter Merger Sdn. Bhd. 3.31% Cheow Har Ooi 2% Aveda Assets Capital Inc 1.83% Tokio Marine Asset Management Co., Ltd. 1.79% Norges Bank Investment Management 1.56% Dimensional Fund Advisors L.P. 1.5% Siew Gan 1.19% Bank Julius Bär & Co Ltd., Asset Management Arm 1.03% Mcdermott International Ltd. 1.02% Employees Provident Fund of Malaysia 0.84% Affin Hwang Asset Management Berhad 0.84% William York 0.61% DBS Group Holdings Limited, Asset Management Arm 0.54% Chai Hoon Tan 0.52% Bank of Singapore Limited, Asset Management Arm 0.44% Soon Puay Er 0.43% Gaik Eng Lim 0.4% UBS Asset Management 0.38% Genting Utama Sdn Bhd 0.32% AIIMAN Asset Management Sdn. Bhd. 0.32% Yau Kong Chin 0.29% Mohd Bin Md Noor 0.28% Ah Loy Tan 0.28% Seng Kian Poh 0.25%
Sardin81 we are on the same boat stuck at KNM. What i hope is the company keep making profit and not to declare impairment lost like Volesto. I know the 2 companies have a different nature of business.
@sardin81: you go lah write a letter to the company secretary offer to take knm private for 80 sen per share. Who cares if you dont have money. put offer first. money can always find later.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
5c0160
1,763 posts
Posted by 5c0160 > 2021-03-18 21:25 | Report Abuse
The most hopeless oil counter.