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 [VELESTO ENERGY BERHAD:新的钻探合同数量有所增加,集团正在积极竞标和谈判新合同以取代即将到期的合同,通过出售及关闭没贡献的附属公司]

这集团于二零一八年第三季录得1,340万令吉的税前亏损,而2017年同季则录得盈利300万令吉。

钻井服务部门:
钻探服务部门于二零一八年第三季度产生的税前亏损为1,890万令吉,而2017年同季则录得盈利1,010万令吉。

油田服务部门:
油田服务部门于2018年第三季度贡献收入490万令吉,占总收入1亿5,030万令吉的3.3%,较2017年同期的410万令吉增加80万令吉或19.5% 。增长的原因是他们在中国天津和纳闽的子公司需求增加。

尽管2018年九个月期间钻机利用率较高,但收入减少主要是由于2018年美元兑换马来西亚的平均汇率较2017年同期下降。但是,截至2018年九月三十日止九个月期间,这集团的税前亏损显着减少到3310万令吉,而2017年同期则录得税前亏损1.532亿令吉,较去年同期增加1.201亿令吉或78.4%。这是由于较低的经营成本,利息费用和折旧以及该期间的净外汇收益所致。

钻井服务部门:
平均资产利用率为67%,而2017年同期为61%。因此,钻井服务部门在截至2018年9月30日的九个月期间的税前亏损为6600万令吉,而2017年同期的亏损为1.283亿令吉,增加6,230万令吉或48.6%。较低的运营成本,利息费用和折旧有助于降低当期的损失。

油田服务部门:
油田服务部门截至2018年9月30日止九个月期间的税前亏损为690万令吉,而2017年同期则录得亏损380万令吉,增加了税前亏损310万令吉或81.6%,主要是由于纳闽一家子公司的裁员补助金约为400万令吉。

2018年第三季度的集团收入为1.503亿令吉,高于2018年第二季度的1.118亿令吉,由于钻井平台利用率提高,增加3850万令吉或34.4%。虽然所有七个自升式钻井平台在2018年第三季度投入运营,但只有两个钻井平台的利用率达到100%,因此平均季度资产利用率为75%,而2018年第二季度为59%。结果,这集团于2018年第三季度录得较低的亏损1,340万令吉,而二零一八年第二季的亏损为2,470万令吉,较上一季度增加1,130万令吉或45.7%。

前景:
钻井服务部门:
由于人们普遍认为油价将在较长时间内处于高位,因此该行业的活动持续增加。钻井平台的全球利用率持续改善,预计在中期内将进一步改善。根据目前的展望,从2019年第二季度开始,新的钻探合同数量有所增加。集团正在积极竞标和谈判新合同以取代即将到期的合同。

油田服务部门:
油田服务业的复苏仍不足以改善对他们服务的需求。这集团通过出售及关闭没贡献的附属公司,以减少其在该部门的参与,并将持续评估其余业务的可行性。由于该部门对这集团的贡献相当小,因此对这集团的财务影响微乎其微。

集团:
预计下半年自升式钻井平台和液压修井钻机的利用率将提高,会改进2018年这集团的财务表现。
------------------------------------------------
James Ng Stock Pick Performance:
Since Recommended Return:

a) BAUTO (BERMAZ AUTO BHD), recommended on 14 Oct 18, initial price was RM1.89, rose to RM2.11 in 2 months 13 days, total return is 11.6%

b) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM0.875 in 5 months 26 days, total return is 10.1%

我希望将我的策略分享给读者,希望他们在阅读后能够表现出色。我正在使用基本面分析(Fundamental Analysis):

预计公司每年的增长率必须> 14%

我想说服读者学习基本面分析FA以便能从股市赚钱。

我为想从马来西亚股票市场赚钱的读者提供STOCK PICK服务。想订阅我的邮件以从股票市场获取良好回报的人,可以通过 jamesngshare@gmail.com 或我的FB页面 https://web.facebook.com/jamesshareinvest/ 与我联系

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日期:3月3日星期日
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有兴趣的朋友,可以电邮或PM FB page联络我
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James Ng
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[VELESTO ENERGY BERHAD: increased number of new drilling contracts are available starting from the second quarter of 2019, the Group is aggressively bidding and negotiating for the new contracts to replace expiring ones, disposing and closing non-contributing subsidiaries]

The Group recorded a loss before tax of RM13.4 million in the third quarter of 2018 against a profit of RM3.0 million recorded in the same quarter of 2017.

Drilling Services Segment:
The Drilling Services segment incurred a loss before tax of RM18.9 million in the third quarter of 2018 compared to a profit of RM10.1 million reported in the same quarter of 2017.

Oilfield Services Segment:
The Oilfield Services segment contributed revenue of RM4.9 million or 3.3% of the total revenue of RM150.3 million in the third quarter of 2018, an increase of RM0.8 million or 19.5% from the RM4.1 million registered in the same quarter of 2017. The increase was due to higher demand from their subsidiaries in Labuan and Tianjin, China.

Despite a higher rig utilisation achieved for the nine-month period of 2018, the lower revenue is due mainly to lower average foreign exchange rate used for the conversion of US Dollar to Ringgit Malaysia in 2018 as compared to the same period of 2017. However, the Group posted a significantly lower loss before tax of RM33.1 million for the nine-month period ended 30th September 2018 against the RM153.2 million loss recorded in the same period of 2017, an improvement of RM120.1 million or 78.4%. This was due to lower operating cost, interest expense and depreciation, as well as a net foreign exchange gain recorded for the period.

Drilling Services Segment:
The average asset utilisation rate was 67% as compared to 61% in the same period of 2017. As a result, the Drilling Services segment incurred a lower loss before tax of RM66.0 million for the nine-month period ended 30th September 2018 compared to the loss of RM128.3 million reported in the same period of 2017, an improvement of RM62.3 million or 48.6%. Lower operating cost, interest expense and depreciation contributed to the lower loss during the current period.

Oilfield Services Segment:
The Oilfield Services segment reported a higher loss before tax of RM6.9 million for the nine-month period ended 30th September 2018 versus a loss of RM3.8 million recorded in the same period of 2017, an increase of RM3.1 million or 81.6% due mainly to a provision for retrenchment benefit amounting to approximately RM4.0 million for a subsidiary in Labuan.

Group revenue of RM150.3 million for the third quarter of 2018 was higher than the RM111.8 million achieved in the second quarter of 2018 by RM38.5 million or 34.4% as a result of higher rigs utilisation. Whilst all seven jack-up drilling rigs were operational in the third quarter of 2018, only two rigs have 100% utilisation, resulting in an average quarterly asset utilisation rate of 75% compared to the 59% for the second quarter of 2018. As a result, the Group posted a lower loss of RM13.4 million in the third quarter of 2018 compared to a loss of RM24.7 million reported in the second quarter of 2018, an improvement of RM11.3 million or 45.7%.

Prospects:
Drilling Services Segment:
The increasing activities in the industry are continuing due to the general consensus that oil price will be in high range for longer period. The global utilization of drilling rigs continues to improve and is expected to improve further in the medium term. Based on current outlook, an increased number of new drilling contracts are available starting from the second quarter of 2019. The Group is aggressively bidding and negotiating for the new contracts to replace expiring ones.

Oilfield Services Segment:
The recovery in the oilfield services sector is still insufficient to improve the demand for their services. The Group is reducing its involvement in this segment by disposing and closing non-contributing subsidiaries and will continuously evaluate the viability of the remaining business. The financial impact to the Group is minimal as this segment’s contribution to the Group is considerably small.

Group:
A higher utilisation of both jack-up drilling rigs and hydraulic workover rigs in the second half of the year is expected to improve the financial performance of the Group for 2018.
------------------------------------------------
James Ng Stock Pick Performance:
Since Recommended Return:

a) BAUTO (BERMAZ AUTO BHD), recommended on 14 Oct 18, initial price was RM1.89, rose to RM2.11 in 2 months 13 days, total return is 11.6%

b) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM0.875 in 5 months 26 days, total return is 10.1%

I wish to share my strategy to readers, hope that they can perform well after reading this. I am using Fundamental Analysis:

the forecasted growth of a company must > 14% per year

I wish to convince readers to learn FA in order to make money from stock market.

I am providing STOCK PICK SERVICE for readers who want to make money from Malaysian stock market. Those who want to subscribe to my mailing list to achieve a good return from stock market, you can contact me at jamesngshare@gmail.com or PM me in my FB page https://web.facebook.com/jamesshareinvest/



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James的股票投资James Share Investing Blog: https://klse.i3investor.com/blogs/general/

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James Ng

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