UMWOG in its glory days was a 10billion dollar club member (read the edge write up) due to the collaspe of Oil prices and Petronas scale back on rigs utilisation. UMWOG was hit by currency and as well lower rigs rental and utilisation.
Oil prices drop from USD 120 per barrel to below USD 40 per barrel. GST was put in place to replace the sharp drop in revenue. Currently Crude oii has recovered from thier lows and trading at USD 65-USD 70 price range ( much higher than our country budgeted price USD 40 per barrel ) Expect more CAPEX from petronas
Shareholders are blue blooded GLIC. PNB and ASB ( Amanah Saham Bumiputra ) UMWOG parent company is UMW a conglomerate giant in is own right. UMWOG is not a pariah run of the mill. Hopefully we can see better days for UMWOG shares
investors, I believe, generally will not be making too much noise. those on contra, my advice to you...in the long run, chances are high, you'll lose more than you gain...good luck !
Yup noticed too ASB in their filing. this are block or match trades . They operate so many funds ( rebalancing portfolios or between different funds manager )
Analysts said the rise in oil prices this time could be a little different than the past because there are no firm plans that have been announced by Petroliam Nasional Bhd (Petronas) to increase capital spending.
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....
peterchu
582 posts
Posted by peterchu > 2018-01-14 21:08 | Report Abuse
Only hibiscus will trend higher. The rest like umwog saprng limited upside