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VELESTO (5243) : VELESTO ENERGY BERHAD
CNY2012
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Posts: 111
Joined: Dec 2011
Male, MYS		 25 Feb 2014, 03:36 PMPost #1
CIMB Research upbeat on UMW Oil and Gas

KUALA LUMPUR: CIMB Equities Research is upbeat on UMW Oil and Gas on its record finish for FY13 with core net profit coming in at our forecast and 97% of consensus.

It said on Tuesday the strong financial performance was underpinned by higher charter rate for Naga 2, higher utilisation for Naga 3 and a full-quarter contribution from Naga 4.

“These factors are behind UMW-OG’s fiery record finish for FY13 with core net profit coming in at our forecast and 97% of consensus. In the months ahead, we expect active newsflow as the company secures first contracts for Naga 6, Naga 7 and Naga 8, and a second contract for Naga 5.

“We continue to value UMW-OG at 22.5 times CY15 P/E, a 40% premium over our target market P/E but still within the historical P/E range of the oil & gas big caps. We maintain our contrarian Add call, with the aggressive fleet expansion as a potential re-rating catalyst,” it said.

CIMB Research pointed out an improved charter rate for Naga 2, higher utilisation of Naga 3 and a full-quarter contribution from Naga 4 in 4Q pushed UMW-OG's FY13 core net profit up a blistering 120% on-year to a record RM159mil, after stripping out RM31m gains from a property sale in Singapore.

“Drilling services, which consist of the Naga 1 semi-sub and the Naga 2, Naga 3 and Naga 4 jack-ups, contributed 93% to group pretax,” it said.

CIMB Research said riding on the high demand for jack-ups in Malaysia and other markets in Southeast Asia, UMW-OW is aggressively adding new assets.

It pointed out Naga 5 and Naga 8 are under construction at Keppel's yard in Singapore. Naga 8, which is slated for delivery in Sep 2015, is still without a contract, but Naga 5, which will be rolled out in May 2014, has been contracted to work for Nido Petroleum in the Philippines starting from June 2014 under a US$7mil six-week contract.

Naga 6 and Naga 7 are under construction at China Merchants Heavy Industry’s yard in Shenzen for delivery in September 2014 for Naga 6 and December 2014 for Naga 7. Naga 6 and Naga 7 have yet to be contracted.

“In Malaysia, there are currently 18 jack-ups, of which the two locally-owned ones are Naga 3 and Naga 4. Of the 16 foreign-owned ones, the contracts for 10 will expire this year. This will provide significant job opportunities for UMW-OG,” it pointed out.
LCCHONG
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Posts: 385
Joined: Jan 2014
Male, MYS		 08 Jan 2015, 09:33 PMPost #2
UMWOG analysis - http://lcchong.wordpress.com/2015/01/08/umwog-fundamental-analysis-8-jan-2015/
beh6108
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Posts: 26
Joined: Apr 2017
Male, MYS		 07 Nov 2017, 09:21 AMPost #3

muka kulit tebai minya nik  tapi u tolak tulunyeahyeahyeah
beh6108
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Posts: 26
Joined: Apr 2017
Male, MYS		 07 Nov 2017, 09:27 AMPost #4

lama sikit ppi tak tui u loyeah
wanmustafacheabghani
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Posts: 20
Joined: Aug 2016
Male, MYS		 05 Dec 2017, 09:51 PMPost #5

lu tunggu 0.55yeah
beh6108
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Posts: 26
Joined: Apr 2017
Male, MYS		 13 Dec 2017, 12:04 PMPost #6

bila masa sampai 0.55yeah
azharishere
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Posts: 6
Joined: Dec 2017
Male, MYS		 20 Dec 2017, 03:21 PMPost #7

yeah today still on some....yeahyeahyeahyeah x naik
beh6108
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Posts: 26
Joined: Apr 2017
Male, MYS		 21 Dec 2017, 09:18 AMPost #8

hai jual habis lio ini cm p kantoi punya bye yeahyeahyeah
Kumar888
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Joined: Nov 2017
Male, MYS		 04 Jan 2018, 10:33 AMPost #9

yeahyeahyeahyeahyes yes yes yes yesyeah
beh6108
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Posts: 26
Joined: Apr 2017
Male, MYS		 05 Jan 2018, 06:13 AMPost #10

onny 0.37 mayeahyeah
azharishere
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Posts: 6
Joined: Dec 2017
Male, MYS		 05 Jan 2018, 11:59 PMPost #11

yeahyeahyeahyeahyeahyeahyeahyeahyes yes yes
Sebie_Kelate
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Posts: 746
Joined: Dec 2016
Male, MYS		 06 Jan 2018, 06:27 AMPost #12

Breakout 52 weeks high (FBO)
beh6108
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Posts: 26
Joined: Apr 2017
Male, MYS		 06 Jan 2018, 10:02 AMPost #13

sebie   karate    ini fbo map nak pergi mana cari boleh kasi tahun tak yeah
beh6108
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Posts: 26
Joined: Apr 2017
Male, MYS		 26 Feb 2018, 09:22 AMPost #14

ppi tak tui ini cm lio semua orang pun tak nak beli ini cm lio

 
beh6108
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Posts: 26
Joined: Apr 2017
Male, MYS		 27 Feb 2018, 09:22 AMPost #15

0.30sen punya shera keluar begini 3 call w  ini umwog tipu ppi punya duit i suruh ppi tak nak beli u punya share

 

 

 

 

 
beh6108
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Posts: 26
Joined: Apr 2017
Male, MYS		 27 Feb 2018, 09:22 AMPost #16

0.30sen punya shera keluar begini 3 call w  ini umwog tipu ppi punya duit i suruh ppi tak nak beli u punya share

 

 

 

 

 
mawiLegend
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Posts: 5
Joined: Aug 2015
Male, MYS		 13 Apr 2018, 04:12 PMPost #17

UmwOG is struggling to hit 50 cents..n still far beyond from sapuraNG this week..umw must learn from them to give back investors confidence
mawiLegend
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Joined: Aug 2015
Male, MYS		 19 May 2018, 11:16 PMPost #18

even their optimis this year cant make moneyyeah
an apple
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Posts: 1
Joined: Sep 2018
Male, MYS		 13 Sep 2018, 06:45 PMPost #19

Come on make some profit velesto!!!!!!!
perr
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Joined: Aug 2018
Male, MYS		 02 Oct 2018, 01:11 PMPost #20

ada baik punyayeahtp melepas
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yeah doh drool lol mad notworthy question rant rolleyes sad shutup shy smile star sweat thumbup wub cry


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