Velesto should expand its fleet of rigs by purchasing from others. There are still existing rigs available from others. Malaysian demand for rigs is booming and Velesto has market requirements more than it can meet.
Petronas and others need more than 10 additional jack-up oil rigs in Malaysian waters. Velesto as the single local supplier has only 3 not employed at the moment. I think all these 3 will be taken up in a few months time.
ASB disposed on the 12th after a 20% gain over their last acquisition on the 4th and having an eye on the BRENT which was showing an evening star bearish reversal. That has now changed and BRENT is looking very bullish so just a matter of time when they re-enter.
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....
cybergreen
2,203 posts
Posted by cybergreen > 2019-03-14 09:37 | Report Abuse
many profit taking today. average buy at 31c.