[VELESTO ENERGY BERHAD：该集团的所有7台自升式钻机都已签约；凭借其目前的20亿令吉订单（包括期权），其钻机利用率预计将在2020年保持下去]
4Q19 vs 4Q18:
这集团的除税前利润为1,460万令吉，较上一季度的1,550万令吉减少。
钻探服务部门：
钻探服务部门的税前利润为2,230万令吉，相比上一季度的1,870万令吉来得高，主要是由于本季度的财务成本降低。
油田服务部门：
该部门在本季录得30万令吉的税前盈利，而去年同期则录得630万令吉的亏损，这主要是由于去年该季度在中国的一家子公司录得的资产减值亏损740万令吉。
其他部门：
其他部门则录得800万令吉的税前亏损，而去年盈利则为310万令吉，主要由于人事相关开支增加，外汇收益减少以及本季度的投资收益减少。
YTD19 vs YTD18：
集团的收入为6亿7080万令吉，比去年的5亿7千380万令吉高16.9％，主要是由于钻探服务部门的业绩改善。配合更高的收入，集团录得4250万令吉的税前盈利，而去年同期则录得1760万令吉的亏损，大幅改善6010万令吉。
钻井服务部门：
收入为6.601亿令吉，比去年的5.566亿令吉高出18.6％，这是由于2019年jack-up rigs和hydraulic workover units (“HWU”)的利用率提高以及日租率提高所致。本年度jack-up rigs的利用率为80％，而去年同期为73％。因此，钻井服务部门的税前利润显着改善，达6850万令吉，而去年同期的税前亏损则为1270万令吉。
油田服务部门：
油田服务部门的税前利润为170万令吉，而去年同期税前亏损则为1370万令吉。
其他部门：
其他部门则录得2780万令吉的税前亏损，而去年同期为880万令吉的税前利润，主要是由于去年提早偿还revolving credit所确认的已实现外汇净收益1820万令吉。
4Q19 vs 3Q19：
该集团在本季录得较低的税前盈利为1,460万令吉，较上季的3,580万令吉减少。
总负债减少了9,460万令吉，主要是由于期内偿还的定期借贷减少以及部分提前偿还了贷款。
前景：
欧佩克+正在考虑进一步削减供应以支持石油价格。随着本地和全球范围内更多的招标和授标活动，钻井活动持续增长。根据最近授予的国内和区域合同，还可以看到有利的日租率和合同期限。
目前，该集团的所有7台自升式钻机都已签约。目前正在进行强制性SPS的NAGA 3计划根据其现有合同恢复工作。凭借其目前的20亿令吉订单（包括期权），其钻机利用率预计将在2020年保持下去。
由于对workover and plug and abandonment作业的需求增加，hydraulic workover units的前景也有所改善，目前正在进行许多招标。jack-up drilling rigs和hydraulic workover units的持续需求有望使该集团受益，因为该集团是拥有良好国内和区域业绩记录的主要参与者。
油田服务业务持续改善。尽管如此，这集团将继续评估该部门中唯一一家位于中国的子公司的生存能力。除非有任何不可预见的情况，基于集团资产的预计利用率和良好的每日租赁费率，董事会预计，集团在2020年的财务业绩将有所改善。
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James Ng Stock Pick Performance:
Since Recommended Return:
a) FRONTKN (FRONTKEN CORP BHD), recommended on 12 Aug 18, initial price was RM0.715, rose to RM2.20 (dividend RM0.025) in 1 year 6 months 23 days, total return is 211.1%
b) KKB (KKB ENGINEERING BHD), recommended on 1 Jul 18, initial price was RM0.795, rose to RM2.22 (dividend RM0.04) in 1 year 8 months 5 days, total return is 184.3%
c) MI (MI TECHNOVATION BERHAD), recommended on 2 Jun 19, initial price was RM1.67, rose to RM4.20 (adjusted)(dividend RM0.055) in 9 months 4 days, total return is 154.8%
d) JAKS (JAKS RESOURCES BHD), recommended on 20 Jan 19, initial price was RM0.575, rose to RM1.22 in 1 year 1 month 15 days, total return is 112.2%
e) PRLEXUS (PROLEXUS BHD), recommended on 25 Aug 19, initial price was RM0.455, rose to RM0.685 in 6 months 10 days, total return is 50.5%
f) PWROOT (POWER ROOT BHD), recommended on 7 Oct 18, initial price was RM1.59, rose to RM2.15 (dividends RM0.113) in 1 Year 4 months 28 days, total return is 42.3%
g) GBGAQRS (GABUNGAN AQRS BHD), recommended on 16 Dec 18, initial price was RM0.80, rose to RM1.06 (dividend RM0.015) in 1 Year 2 months 19 days, total return is 34.4%
h) ELKDESA (ELK-DESA RESOURCES BHD), recommended on 18 Nov 18, initial price was RM1.27, rose to RM1.58 (dividend RM0.105) in 1 Year 3 months 17 days, total return is 32.7%
i) SERBADK (SERBA DINAMIK HOLDINGS BHD), recommended on 29 July 18, initial price was RM3.96, rose to RM4.97 (dividend RM0.13431) in 1 Year 7 months 7 days, total return is 28.9%
j) TSH (TSH RESOURCES BHD), recommended on 30 Jun 19, initial price was RM0.90, rose to RM1.14 in 8 months 6 days, total return is 26.7%
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页面与我联系。
1)【看懂年报和季报】课程:
11a.m. – 7p.m.，免费茶和咖啡
3月21日星期六：Silka Johor Bahru Hotel, Johor Bahru 7份点心
3月29日星期日：Hotel Sri Petaling, KL 3份点心
4月19日星期日：AG Hotel Penang, George Town 2份点心
2)【股票-实际操作班】课程：
10a.m. – 9p.m.，免费午餐和晚餐
3月22日星期日：Silka Johor Bahru Hotel, Johor Bahru
3月28日星期六：Hotel Sri Petaling, KL
4月18日星期六：AG Hotel Penang, George Town
有兴趣的朋友，可以电邮或PM FB page联络我
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这个分享纯属讨论以及领域的分析，买或卖自负。请Like和Share这个post。最终决定永远是你的，谢谢。
James Ng
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[VELESTO ENERGY BERHAD: All seven of the Group’s jack-up drilling rigs are currently contracted; with their current order book of RM2.0 billion including options, their rig utilisation is expected to be sustained in 2020]
4Q19 vs 4Q18:
The Group reported lower profit before tax of RM14.6 million against RM15.5 million profit in the corresponding quarter.
Drilling Services Segment:
Drilling Services segment recorded higher profit before tax of RM22.3 million compared to RM18.7 million in the corresponding quarter, mainly due to lower finance cost in the current quarter.
Oilfield Services Segment:
The segment reported a profit before tax of RM0.3 million in the current quarter compared to RM6.3 million loss recorded in the corresponding quarter, mainly due to RM7.4 million impairment loss on assets recorded for a subsidiary in China in the corresponding quarter.
Others Segment:
Others segment recorded a loss before tax of RM8.0 million as compared to a profit of RM3.1 million mainly due to higher personnel related expenses, lower forex gain and lower investment income in the current quarter.
YTD19 vs YTD18:
Group revenue of RM670.8 million was 16.9% higher than the corresponding year’s revenue of RM573.8 million, mainly due to improved performance in the Drilling Services segment. In line with higher revenue, the Group posted a profit before tax of RM42.5 million against RM17.6 million loss in the corresponding year, a significant improvement of RM60.1 million.
Drilling Services Segment:
Revenue of RM660.1 million was 18.6% higher than the corresponding year’s revenue of RM556.6 million, driven by improvement in utilisation and higher daily charter rates for both jack-up rigs and hydraulic workover units (“HWU”) in 2019. The utilisation rate for jack-up rigs was 80% in the current year as compared to 73% in the corresponding year. As a result, the Drilling Services segment registered a significant improvement to a profit before tax of RM68.5 million against the loss before tax of RM12.7 million reported in the corresponding year.
Oilfield Services Segment:
The Oilfield Services segment recorded a profit before tax of RM1.7 million against a loss before tax of RM13.7 million in the corresponding year.
Others Segment:
Others segment recorded loss before tax of RM27.8 million against profit before tax of RM8.8 million in the corresponding year, mainly due to RM18.2 million net gain on realised foreign exchange recognised from early settlement of revolving credit in the corresponding year.
4Q19 vs 3Q19:
The Group posted a lower profit before taxation of RM14.6 million in the current quarter against RM35.8 million profit before tax reported in the preceding quarter.
Total liabilities reduced by RM94.6 million mainly due to reduction of term borrowings from repayment and partial prepayment of loan during the period.
Prospects:
OPEC+ is considering further supply cuts to support oil price. Drilling activities have continued to increase with more contracts being tendered out and awarded, both locally and globally. Favourable daily charter rates and contract durations are also seen based on recently awarded domestic and regional contracts.
All seven of the Group’s jack-up drilling rigs are currently contracted. NAGA 3, which is currently undergoing the mandatory SPS is scheduled to resume work under its existing contract. With their current order book of RM2.0 billion including options, their rig utilisation is expected to be sustained in 2020.
The outlook for hydraulic workover units is also improving with a number of tenders presently in progress due to the increase in demand for workover and plug and abandonment activities. The continued demand for both jack-up drilling rigs and hydraulic workover units is expected to benefit the Group, being the main player with strong domestic and regional track records.
The Oilfield services operations continued to show improvement. Notwithstanding this, the Group will continuously evaluate the viability of the only subsidiary in this segment which is based in China. Barring any unforeseen circumstances, based on the forecasted utilisation and favourable daily charter rates for the Group’s assets, the Board expects an improved financial performance for the Group in 2020.
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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.
This sharing is purely a discussion and analysis of the sector, buying or selling at your own risk. Please Like and Share this post. Final decision is always yours, thank you.
James Ng
https://klse.i3investor.com/blogs/general/2020-03-08-story-h1484749639.jsp
