Posted by Macgyver11 > 2021-04-16 22:11 | Report Abuse

The biggest mistake that our govn do is to allowed pasar Ramadan open. Very hard to control human being especially in the crowded area....this will increase the c19 cases.

Posted by lancefire > 2021-04-17 03:12 | Report Abuse

Next week sell on rally guys.

Posted by Plantermen > 2021-04-17 09:04 | Report Abuse

The huge spike in New cases is a good reason for the PN government is not to reconvene Parliament sittings on 1st August

Posted by Expertise > 2021-04-17 10:12 | Report Abuse

same tactic by PN gov，no parliament and elecetion until 20222

Posted by Flybythenite > 2021-04-19 10:10 | Report Abuse

Herd immunity je... immune naturally like past past pandemics. Then OnG will skyrocket!

Posted by Flybythenite > 2021-04-19 10:12 | Report Abuse

Just keep. Wait for next new contract! ;)

Posted by Mabel > 2021-04-19 12:08 |

Post removed.Why?

Posted by Jjkcl > 2021-04-19 16:14 | Report Abuse

Fake buy queue appear and disappear often

Posted by Macgyver11 > 2021-04-19 17:12 | Report Abuse

Let see which one break the 0.20 first...knm or velesto

Posted by Flybythenite > 2021-04-19 19:03 | Report Abuse

Just now my neighbour told me he sold OnG becos yesterday read about EV! I asked ehhh, bila? Tomorrow ke? Next year, Next next year ke all cars and planes will be fuelled by electricity! And we all throw away all our old cars? Laugh die me!

Posted by Macgyver11 > 2021-04-19 19:22 | Report Abuse

Hahaha imagine and see how plane going to run using electricity...lol.

Posted by Expertise > 2021-04-19 19:35 | Report Abuse

EV only rich people can afford

Posted by Flybythenite > 2021-04-19 19:57 | Report Abuse

Can la, if whole world can afford supercars like Owl, or BMW, Audi ....
https://www.caranddriver.com/news/g29994375/future-electric-cars-trucks/
Survey suggests only 10% EV in 5 years. Too optimistic also I think... cos there’s huge semiconductor shortage right now. Some car makers even tutup kedai cos shortage of parts. Foundries capacity ady fully booked for next couple of years.

Posted by obakh222 > 2021-04-20 07:43 | Report Abuse

Today can go 0.21?

Posted by JuliusCeasar > 2021-04-20 08:29 | Report Abuse

May be Need brent oil price hit again USD 70 and stable hover USD 70 and above.... Then stock price would go up again....

Posted by Flybythenite > 2021-04-20 11:16 | Report Abuse

OnG no need worry. Esp, at this rock bottom price.

Posted by Expertise > 2021-04-20 12:30 | Report Abuse

75 bpd above just warming up engine,otherwise no chance to go above 20cts

Posted by Mabel > 2021-04-20 14:30 | Report Abuse

Jom let's cross 20....

Posted by JuliusCeasar > 2021-04-20 14:41 | Report Abuse

Steady VELESTO

Posted by Flybythenite > 2021-04-20 18:46 | Report Abuse

Oil
Day's Range: 66.99 - 68.06

Posted by Flybythenite > 2021-04-20 18:47 | Report Abuse

$70 anytime now! :)

Posted by obakh222 > 2021-04-21 21:50 | Report Abuse

Brent drop sommore how now?

Posted by Macgyver11 > 2021-04-21 22:18 | Report Abuse

Ok lah itu if oil price able to sustain usd 60 and above. For our local players is more than good enough and profitable. Usd 66 is about RM 272 per barrel. If Velesto can survived during oil price trading @ usd 30/40 per barrel...now more better ma....

Posted by SleepingForest > 2021-04-21 23:16 | Report Abuse

Velesto is not an oil company . Its rig service company . The oil price does not influence its earning .

The among of rig used translates to revenue . Recently naga 4 and 6 rig was used . So that profit will be reflected at next quarter

Posted by JoshuaMS7 > 2021-04-22 08:43 | Report Abuse

buy buy buy!

Posted by Flybythenite > 2021-04-22 19:07 | Report Abuse

Yup Rig service. But we noticed oil price does influence its up/downs

Posted by Flybythenite > 2021-04-22 19:10 | Report Abuse

Next QR surely profitable. Esp. With Impairments loss taken care off last Q.

Posted by Mendown > 2021-04-22 20:01 | Report Abuse

Any comment on the latest announcement?

Posted by Ron90 > 2021-04-22 20:49 | Report Abuse

rig business just cukup makan only, enough to sustain fat salaries BOD and top exec, dont ecpect profit big. ..OPEx very big, rig got limited age some more require lots of pm, testing, certification, etc...better invest some where else.

Posted by SleepingForest > 2021-04-22 21:04 | Report Abuse

Ron90 , like which counter ? This is the only rig leasing and servicing counter in Malaysia . The price will touch 0.3 once covid is controlled

Posted by Macgyver11 > 2021-04-22 21:10 | Report Abuse

Flybythenite Yup Rig service. But we noticed oil price does influence its up/downs
22/04/2021 7:07 PM

I think there's correlation in between oil price and local rigs operators. Read they article after the 2020 final qtr released....

KUALA LUMPUR (March 24): Oil rig operator Velesto Energy Bhd sank into the red in the fourth quarter ended Dec 31, 2020 (4QFY20), reporting a net loss of RM493.29 million from a net profit of RM10.2 million a year earlier.

This was largely impacted by an impairment loss of RM460.6 million for the rig assets, which were impacted by the volatility in oil prices and global economy compounded by the Covid-19 pandemic, said Velesto in a filing with Bursa Malaysia today.

They mentioned "VOLATILITY IN OIL PRICE"

Do you all notice that during oil price trading below usd 50 /barrel, there is no contract awarded to non of the rigs operator or upstream player. Contracts awarded when oil break usd 60. Oil price playing crucial role to determine or bidding for contract. In other hand stock price moves up/down aligned with to the crude oil maybe due to fear selling by investors.

Posted by hafizisolehah88 > 2021-04-22 22:14 | Report Abuse

aiyoo winding up la

Posted by JuliusCeasar > 2021-04-23 08:09 | Report Abuse

Steady VELESTO....

Posted by bullmarket1628 > 2021-04-23 08:31 | Report Abuse

Wow, Oil price continue to rise !
Brent closed at $6‪5.58 +0.50 +0.77%‬

Huat ah, Heng ah, Ong ah !

Posted by JoshuaMS7 > 2021-04-24 04:08 | Report Abuse

Oil price back to 66 usd! It is the time for fly on monday! Hold tight!

Posted by bullmarket1628 > 2021-04-24 07:33 | Report Abuse

‪Wow, oil price continue to uptrend !‬
Brent closed at $65.99 ‪+0.59 +0.90%‬

‪Huat ah, Heng ah, Ong ah !‬

Posted by Flybythenite > 2021-04-24 23:27 | Report Abuse

Velesto's sustainability push
April 19, 2021 @ 6:26pm
https://www.nst.com.my/news/nation/2021/04/683577/velestos-sustainability-push

KUALA LUMPUR: Velesto Energy Bhd will continue to focus on sustainability efforts, keeping intact its corporate responsibility towards environmental, social and governance (ESG).

President and executive director Rohaizad Darus said given the nature of the oil and gas (O&G) industry, there were three factors that are most important to look after.

"Given the nature of our industry, the upstream value chain of exploration and production, and our business model, operations and activities, Velesto's approach to sustainability remains driven by a strong focus on three key aspects ­— the protection of everyone's health and safety, enhancing people's lives, and environment preservation.

"Health and safety of our people are the most important aspects of our operations and last year, we had zero lost time incidents and zero recordable incident cases."

Rohaizad said that with regards to people, the company's priorities remained on local talent recruitment and development, and enhancing organisation culture. Velesto recruits mostly Malaysians and these employees are further developed via various in-house structured programmes.

Since 2014, Velesto has collaborated with Institut Teknologi Petroleum PETRONAS (INSTEP) via Velesto-INSTEP Drilling Academy, which provides internationally accredited training and certification to develop qualified drilling professionals.

"We also aim to improve the welfare and livelihoods of people around us through our community investments in education, safety and environmental awareness. We have been providing tuition classes and study aids for students from rural and suburban schools taking major examinations, working with fishermen on safety at sea, and cleaning beaches with university students," he told the New Straits Times in an interview recently. "This year, we are also making some contributions to Tabung Cerdik and MyStep initiatives.

"From the economic angle, we are increasing our product and service sourcing from local vendors and last year we have sourced about RM120 million locally, or about 70 per cent of our total procurement expenditures.

"In addition, our environmental priorities are in minimising pollution, specifically in the prevention of major spills and management of oil or waste, reducing our GHG (Greenhouse Gas) emissions, while ensuring the biodiversity of the environment is not harmed by our operations.

"These focus areas, together with our iLEAP corporate Core Values and continued strong emphasis on corporate governance, provide a firm base for the development of a robust organisation that is well suited to sustain itself, protect against possible future risks and generate enduring stakeholder value over the long-term amid a competitive operating environment," he added.

According to Velesto's 2019 Sustainability Report, the company has strengthened its practice of corporate governance.

It has also bolstered its commitment to anti-corruption and bribery with the establishment of Integrity Governance Unit under the guidance of Malaysian Anti-Corruption Commission on Jan 1 last year — an independent function to assist the board in driving integrity strategy and compliance for the group.

In addition to being included in FTSE4Good Bursa Malaysia Index, Velesto has been upgraded to Tier 1 (Setting the Pace) and is in the top-quartile for sustainability disclosures by FTSE Russell and Bursa Malaysia.

Rohaizad said while it was not easy to prove the correlation between sustainability and financial performance, this would materialise over longer term and will help to improve the business.

The group will continue to pursue further change and improvement.

"It must always be remembered that financial performance and sustainability go together. We will continue to uphold sustainability as key to Velesto and as such, will look to further integrate sustainability into our business model and operations."

This will entail further aligning sustainability policies, initiatives and action plans with business strategy, and to develop a stronger long-term perspective to enable a strategic response to emerging risks and opportunities, external trends and developments and other macro-factors.

"Guided by our sustainability conscience, we shall continue to operate in accordance with global best practices towards delivering long-term stakeholder value while securing Velesto group's future," he added.

He said the issue of sustainability was also one of the focus of its shareholders, especially with the company now focusing to woo and get more international investors.

"Even local funds like the Employees Provident Fund are putting high priority on sustainability and this trend is increasing going forward. Shareholders

Posted by Macgyver11 > 2021-04-25 09:55 | Report Abuse

https://www.thestar.com.my/news/nation/2021/04/23/dr-wee-mutually-recognised-vaccine-passport-needed-for-malaysia-eu-economic-recovery

Posted by Macgyver11 > 2021-04-26 17:57 | Report Abuse

Investors are sceptic on oil price as covid case in india plunged up at highest since vaccination. India 3rd largest crude oil importer/consumer. Price react to the sentiment. In other hand some of the European countries in the midst of planning to reopen their border with strict SOP, especially...for those who want to travel must vaccinated first and vaccination is mandatory for travelling. Weak holders eventually surrender strong holders gain...sabar tu Indah.

Posted by KAQ4468 > 2021-04-26 23:25 | Report Abuse

Pasti mariiiiii

Posted by KAQ4468 > 2021-04-26 23:25 | Report Abuse

Ada bullet... Kasi collect

Posted by bullmarket1628 > 2021-04-27 14:29 | Report Abuse

Wow, oil price continue to spike up to sky high !‬
Brent now at $65.69 ‪ +0.66 +1.01%‬

‪Huat ah, Heng ah, Ong ah !‬

Posted by bullmarket1628 > 2021-04-27 18:34 | Report Abuse

Oil rebounds to US$66 ahead of OPEC+ meeting, India's Covid-19 surge weighs
Tuesday, 27 Apr 2021 5:00 PM MYT
https://www.thestar.com.my/aseanplus/aseanplus-news/2021/04/27/oil-rebounds-to-us66-ahead-of-opec-meeting-india039s-covid-19-surge-weighs

LONDON, April 27 (Reuters): Oil rebounded to $66 a barrel on Tuesday on speculation that a meeting of producer group OPEC+ may tweak oil output policy to address India's coronavirus crisis that could dent fuel demand.

OPEC and allies will hold a monitoring meeting on Tuesday instead of April 28 as planned earlier.

Posted by Flybythenite > 2021-04-27 18:40 | Report Abuse

Read news wealthy Indians all booking jet planes lari to other countries with low covid rates. Meaning private planes started flying ady! Up up oil price!

Posted by Flybythenite > 2021-04-27 19:37 | Report Abuse

Malaysia launches 10-year blueprint to revive oil and gas sector
Demand for energy and transportation tanked during the pandemic.

Shannon Teoh
Malaysia Bureau Chief
PUBLISHED1 HOUR AGO
FACEBOOKTWITTER
KUALA LUMPUR - Malaysia is seeking to rescue its ailing oil and gas ecosystem with an ambitious 10-year plan after fuel prices were battered last year by the Covid-19 pandemic.

The National Oil & Gas Services and Equipment (OGSE) Industry Blueprint 2021-2030 comes after nearly two-thirds of over 4,000 vendors fell off the radar, victims of a "double whammy".

Demand for energy and transportation tanked during the pandemic and this came on top of the rout in oil markets between 2014 and 2016.


State oil giant Petronas was forced to slash a third of its initial RM50 billion (S$16.2 billion) capital expenditure budget for 2020, most of which was dedicated to the domestic market. Last year, crude oil prices averaged about US$40 per barrel, down from over US$60 the year before.

Local OGSE players' reliance on Petronas - a key problem the blueprint will try to address - meant that over 700 companies went dormant last year, leaving just 1,563 players in the field.

Oil and gas have been a crucial plank of both the Malaysian economy and government revenue, making up to a fifth of the country's pre-Covid-19 gross domestic product. The supporting OGSE sector, which accounted for nearly half of that contribution, has lagged in adopting new technologies and inefficient businesses suffered during last year's crash.

"It is hoped that this blueprint will result in them scaling up the operations. We want them to go overseas as well. By merging with each other... they can do more research and development... You need to be on the ball in terms of the latest technology," Economic Planning Minister Mustapa Mohamed told reporters after Tuesday's (April 27) launch.

The blueprint outlines incentives for mergers, consortium-building and technology adoption, alongside an RM25 million OGSE Development Grant to help smaller firms commercialise innovative solutions.

Malaysia's OGSE sector generates about US$16.4 billion (S$21.7 billion) in revenue annually, with less than a third coming from exports.

This compares unfavourably with Norway - which Malaysian Petroleum Resources Corporation (MPRC), the lead agency tasked with developing the OGSE landscape, calls the "gold standard" - as well as the United Kingdom.

Both countries in Europe reap over US$35 billion a year from a less fragmented industry of just 1,200 firms each. Norway's OGSE sector also filed 960 patents in the last five years, and the UK had 381, compared with a paltry 36 for Malaysia.

Among the blueprint's targets are to see the OGSE sector contribute up to RM50 billion to Malaysia's GDP by the end of the decade, up from RM21 billion last year, and provide 60,000 highly-skilled jobs, 1,000 more than the existing largely semi-skilled workforce. In line with long-term plans for Petronas to increasingly expand its footprint internationally, OGSE players will also be expected to derive half of their revenue overseas, similar to their Norwegian counterparts currently.

Another crucial push will be to diversify revenue streams, with a quarter of billings by 2030 to come from outside oil and gas. MPRC chief executive Yazid Ja'afar pointed to "adjacent" industries such as renewable energy, where public-listed Eversendai Corp has bagged several offshore wind deals.

Datuk Seri Mustapa said it was imperative that OGSE players create low-carbon solutions with the ongoing push to "decarbonise" receiving a boost from the Leaders Summit on Climate hosted by United States President Joe Biden last week.

"We are encouraging the industry to explore the ESG (environmental, social and governance) element," Mr Yazid told a press conference. "Once you comply with the requirements, you will open up a whole world of US$59 trillion (of investment funds) by 2025."

Posted by Flybythenite > 2021-04-27 19:39 | Report Abuse

OnG up up up!

Posted by Jonathan Keung > 2021-04-28 07:33 | Report Abuse

Hard to move after touching a high of 19 sen now back to 16 -17 price

Posted by JuliusCeasar > 2021-04-28 11:15 | Report Abuse

I think it's about time O&G counter share price to go higher again..... The main reason is because the oil price look like on uptrend.

Posted by bullmarket1628 > 2021-04-28 19:09 | Report Abuse

Oil price continue it’s uptrend !
Brent now at $66.12 ‪ +0.25 +0.38%‬

‪Like that oil price definitely will break above ‬
‪$70 per barrel by this month and above $80 per barrel by May 2021 already liao lah !‬

‪Huat ah, Heng ah, Ong ah !‬

Posted by JoshuaMS7 > 2021-04-28 20:37 | Report Abuse

yaya the ONG is coming soon! The oil price is uptrend to 70 USD soon!