Posted by jenabchen123 > 2 months ago | Report Abuse

Hong Leong and Maybank said 0.35. But 0.45 more logical with Hurricane Category 5 now attacking USA and Maxico oil facility can supply cutting by OzPEC members. Oil heading to $100 per barrel giving more money chance to Velesto. And the company now in black with more dividend payout to be given! Off you go, Velesto!

Posted by prudentinvestor > 2 months ago | Report Abuse

Wow! So easy to make $800k. Is it in Zimbabwe currency?

Posted by Macgyver111 > 2 months ago | Report Abuse

If you want to pull the crowd..you hv to say something...🤣😂

Posted by Expertise > 2 months ago | Report Abuse

You go in,get slaughtered kaw kaw …caution caution

Posted by ronaldotheGOAT > 2 months ago | Report Abuse

slowly wash away!

Posted by hafizfizor90 > 2 months ago | Report Abuse

and fly

Posted by Macgyver111 > 2 months ago | Report Abuse

I feel like still not fundamental yet..velesto price rise due oil price sentiment. Hv to wait till 2d qtr.

Posted by Macgyver111 > 2 months ago | Report Abuse

KUALA LUMPUR (July 3): Hong Leong Investment Bank (HLIB) has advocated investors buy Velesto Energy Bhd (KL:VELESTO) on weakness, in anticipation of strong earnings in the coming quarters amid persistent jack-up (JU) rig crunch in Southeast Asia.

In a technical tracker note on Wednesday, the research house said that for the second quarter of financial year 2024 (2QFY2024), it expects Velesto’s JU rig utilisation to remain above 90%, with full-year utilisation projected at 85%, slightly higher than FY2023’s 83%.

“Additionally, the renewal of the umbrella contract with Petronas Carigali, featuring a higher daily charter rate of approximately US$140,000 (RM660,766) — up from US$100,000 — will contribute positively to Velesto’s earnings from 2Q2024 (second quarter of 2024) onwards.

“We project Velesto’s earnings to surge 89% in FY2024, with an additional 9.6% increase in FY2025.

“All in, we maintain a 'buy' call on Velesto, with a target price of 35 sen,” it said.

HLIB said that technically, Velesto is trading near its long-term support region of 25 sen to 27 sen with indicators showing uptick bias.

“A successful breakout above 28.5 sen will signal a new uptrend and spur the price toward 30 sen-32 sen-34 sen levels.

“Cut loss at 24.5 sen,” it said.

Posted by Macgyver111 > 2 months ago | Report Abuse

Wow! Petronas paying them DCR usd 140,000. I strongly believed they going to come out with excellent 2nd qtr result. 🚀🚀🚀

Posted by EAGLE > 2 months ago | Report Abuse

Walao tomorrow fly

Posted by bullrun168 > 2 months ago | Report Abuse

Walaoeh, what happend ?
Super damn hot man Velesto today !
Now Velesto was traded at @0.29 (+0.01) (+3.6 %)
Heng ah, Ong ah, Huat ah !

Posted by hafizfizor90 > 2 months ago | Report Abuse

confirm fly

Posted by SinGor > 2 months ago | Report Abuse

Last Qr average day rate is $107,000 per day----So increase Per rig is RM145,200 X 76day (per Qr assuming 85%
run-time )----Per Rig based on $140,000 is RM 11,107,800 Extra compare to last 1Q24
How many Rigs get $140,000 Day Rate?? Your Guess is as Good as mine----I say 3 out of 6 Rigs Or another
Rm33 mil revenue extra for 2Q24----As i say 2Q24 is Good---very Good

Posted by Baby Shark > 2 months ago | Report Abuse

Orang lari lu beli.. boloh

Posted by Neoh10855 > 2 months ago | Report Abuse

Lousy back to 0.27 🤭Perdana 0.46✌️

Posted by Expertise > 2 months ago | Report Abuse

Veleslow Lousy ,so stubborn always pull back to 265,when want jump to moon..perdana make me few round already

Posted by Macgyver111 > 2 months ago | Report Abuse

Sometimes Velesto really tests our limits. But I always persuade myself by saying, 'No matter is their day, tomorrow might be Velesto's day.' I still believe (no doubt on that) that once it starts giving you, it's going to be unlimited.
Question is when????
Sabar.Cool 😎

Posted by hafizduhari > 2 months ago | Report Abuse

I just put 1k unit for TP 0.265 🤣then same like parkson liao. Hopefuly pak tua comingg tut tuttt

Posted by RJ87 > 2 months ago | Report Abuse

sigh last time I enter both perdana and velesto at 21.5sen. Took profilt from perdana and buy velesto at 31.5sen.
This f*ckka stuck 25-30sen since making me missed all the opportunity at perdana.

Posted by Macgyver111 > 2 months ago | Report Abuse

Velesto Energy Berhad had debt of RM350.3m at the end of March 2024, a reduction from RM565.6m over a year. However, because it has a cash reserve of RM159.7m, its net debt is less, at about RM190.6m.

Posted by Macgyver111 > 2 months ago | Report Abuse

According to the last reported balance sheet, Velesto Energy Berhad had liabilities of RM427.3m due within 12 months, and liabilities of RM236.4m due beyond 12 months. On the other hand, it had cash of RM159.7m and RM424.8m worth of receivables due within a year. So it has liabilities totalling RM79.3m more than its cash and near-term receivables, combined.
Of course, Velesto Energy Berhad has a market capitalization of RM2.26b, so these liabilities are probably manageable. But there are sufficient liabilities that we would certainly recommend shareholders continue to monitor the balance sheet, going forward.
We use two main ratios to inform us about debt levels relative to earnings. The first is net debt divided by earnings before interest, tax, depreciation, and amortization (EBITDA), while the second is how many times its earnings before interest and tax (EBIT) covers its interest expense (or its interest cover, for short). This way, we consider both the absolute quantum of the debt, as well as the interest rates paid on it.
Looking at its net debt to EBITDA of 0.45 and interest cover of 5.4 times, it seems to us that Velesto Energy Berhad is probably using debt in a pretty reasonable way. But the interest payments are certainly sufficient to have us thinking about how affordable its debt is. Notably, Velesto Energy Berhad's EBIT launched higher than Elon Musk, gaining a whopping 937% on last year. There's no doubt that we learn most about debt from the balance sheet. But ultimately the future profitability of the business will decide if Velesto Energy Berhad can strengthen its balance sheet over time.

Posted by Macgyver111 > 2 months ago | Report Abuse

Warren Buffett famously said, 'Volatility is far from synonymous with risk.' When we think about how risky a company is, we always like to look at its use of debt, since debt overload can lead to ruin.

Posted by bullrun168 > 2 months ago | Report Abuse

Walaoeh, what happend ?
Super damn hot man Velesto today !
Now Velesto was traded at @0.275 (+0.005) (+1.9 %)
Heng ah, Ong ah, Huat ah !

Posted by Macgyver111 > 2 months ago | Report Abuse

Some IB give bad coverage on Velesto. Same issues brought forward again and again. This gives a negative impact on share price. Actually, the middle east suspended rigs nothing to do as Velesto have already secured solid contract with Petronas till 2025. Very sad to see certain IB purposely downgrade Velesto.
Armada and Perdana get the credit...

Posted by hzboi > 2 months ago | Report Abuse

Tangan ghaib suppressing this stock price. Oh well

Posted by Neoh10855 > 2 months ago | Report Abuse

Huat Ah 🤣

Posted by Macgyver111 > 2 months ago | Report Abuse

It's stressful to see Velesto lagging like this. But remember this famous quote: Be fearful when others are greedy, and be greedy when others are fearful. Velesto is being cursed and feared by everyone, despite the fact that they have a strong track record for revenue. The exact time to collect and hold until the time comes. Agreed, it might be late, but you will be rewarded big.

Posted by hafizfizor90 > 2 months ago | Report Abuse

everyday going down better go to Perdana

Posted by Neoh10855 > 2 months ago | Report Abuse

Don't la.. U will miss the reward later 🤭

Posted by Macgyver111 > 2 months ago | Report Abuse

Stock market unpredictable..😂🤣

Posted by EAGLE > 2 months ago | Report Abuse

Opportunity to buy cheap. Must be good 2nd quarter, IB spreading negative news to collect. Setting the stage for tapau ikan bilis.

Posted by bhza2012 > 2 months ago | Report Abuse

Haiyo, turun lagi. Nasib baik support kuat.

Posted by 8u29song > 2 months ago | Report Abuse

unpredictable.

Posted by 8u29song > 2 months ago | Report Abuse

Haiyo

Posted by Farmost88 > 2 months ago | Report Abuse

What happen to this stock?

Posted by prudentinvestor > 2 months ago | Report Abuse

Trump should be elected President of the US come November. The war in Ukraine is likely to end and price of gasoline will come down.

Posted by brandon99 > 2 months ago | Report Abuse

If Trump loses, US will be facing a civil war.

Posted by leeabraham > 2 months ago | Report Abuse

what happened today

Posted by 8u29song > 2 months ago | Report Abuse

turun lagi

Posted by leeabraham > 2 months ago | Report Abuse

very depressed me but my colleague lagi as kena margin call

Posted by hzboi > 2 months ago | Report Abuse

this volume is very crazy

Posted by specializedvenge > 2 months ago | Report Abuse

What is this.
Lower high and lower low

Posted by surviver > 2 months ago | Report Abuse

The trade volume is very high. This could be a good sign.

Posted by Michael Kwok > 2 months ago | Report Abuse

Velesto 24.5 cents
If 15-17 july no go back 26 cents,a must throw.
15/7/24 11.55am

Posted by Expertise > 2 months ago | Report Abuse

Volume high easily play by IB and shark..I lose few cent too..2 week red red manage get few at 0.24…haiyaa velesslow

Posted by bullrun168 > 2 months ago | Report Abuse

Walaoeh, what happend ?
Super damn hot man Armada today !
Now Armada was traded at @0.585 (+0.015) (+2.6 %)
Heng ah, Ong ah, Huat ah !

Posted by bullrun168 > 2 months ago | Report Abuse

Sailang all my belongings till underwear to buy-in Velesto at @0.24
Heng ah, Ong ah, Huat ah !

Posted by RJ87 > 2 months ago | Report Abuse

Accidentally sapu another 500K shares at 0.250 let's see how next month QR.

Posted by bhza2012 > 2 months ago | Report Abuse

Wait for the best price to collect more

Posted by RJ87 > 2 months ago | Report Abuse

Strange strange, if they want to take profit. They do quietly at high price.

Shakeup like this, with such big volume; really no idea what they upto. Battle of the giant. Someone taking on PNB manipulator. Big volume with no news no nothing.