. Thanks, goldentriangle I am still holding this counter but "wait & see" very closely for further pick!. Though oil price seemed to support at USD50, UMWOG needs to sort out is coming debts ( http://www.theedgemarkets.com/en/node/299805). Just have to wait for next turn-around
. Holding company keeps pumping in cash to help, but for how much/long? Holding has other capital expenditure commitment as well!
Recap.....(published on 5Sep16 at the edge)
“It will be difficult for UMWOG to borrow to refinance its short-term debt because banks wouldn’t want to risk exposure to the sector. The only way to do it would be at the holding company level. Note that UMW has already advanced the oil and gas unit an inter-company loan this year,” observes an analyst.
"In total, UMWOG has RM2.26 billion of debt that is due this year. UMW’s fundraising is thus expected to help ease UMWOG’s financial stress."
. hope so umwog just need to run the left over dragons with contracts! today, looks like some BIG FISH supporting (to buy) at 0.850 while last minutes clearing up at 0.855 should be on track now after 82c...
Finished for contra traders. Buy on fear. 0.85 will be supported. November is bullish for this and another news will be announce in the corner and return to black soon. My 2 cts view.
Haha ! This counter need to pay more than one billion debt soon , I'm curious they able to pay ? If can't another falling down oil n gas counter ! Becareful ! Happy trading ! Haha !
0008, waseh, you brave person, dare question UMWOG's ability to pay??? Few months back when I pose the same question, someone gave me a long lecture and hentam me left, right and centre!!!!!
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....
sayangawak
540 posts
Posted by sayangawak > 2016-10-21 06:32 | Report Abuse
Tham,comment on c7 what is the tp?