[HIBISCUS PETROLEUM BHD：SEA Hibiscus售出249,387桶原油，相比之下，上一季度售出611,367桶。本季度平均实现油价为每桶31.79美元，而上一季度为47.72美元]
截至2020年6月30日，集团的流动资产为3亿5340万令吉，较2019年6月30日的4.103亿令吉减少5690万令吉。这主要是由于相比2019年6月30日，现金和银行结存减少了1.257亿令吉。本年度，Anasuria Hibiscus和North Sabah部门的经营活动产生的现金流入净额用于为因资本支出投资超过2亿令吉而产生的债务提供资金。此外，本年度还支付了以下显着款项：
•将Anasuria Hibiscus UK按比例承担的2610万令吉，用于将Anasuria Cluster的设施decommissioning为信托的估计费用；和，
此外，截至2020年6月30日，北沙巴资产的未偿还的与运营相关的应付款项和应计费用比2019年6月30日增加了约3550万令吉。增加是因为St Joseph Infill Drilling，South Furious 30填充钻探和South Furious 30 Water Flood Phase 1项目所造成的。与2019年6月30日相比，截至2020年6月30日的总权益略有减少1,620万令吉。这是由于在本年度确认的油气资产减值拨备达1.963亿令吉。
3D Oil, VIC/L31 & VIC/P57：
在本季度，该部门录得1亿7900万令吉的LAT，而前一季度则为5百60万令吉。本季度较高的LAT是由于2020年6月30日为VIC / P57和VIC / L31作出的减值拨备达1.835亿令吉。
James Ng Stock Pick Performance:
Since Recommended Return:
a. FRONTKEN CORP BHD, recommended on 12 Aug 18, initial price was RM0.715, rose to RM3.65, dividend RM0.052, in 2 years 23 days, total return is 417.8%
b. TOP GLOVE CORP BHD, recommended on 1 July 18, initial price was RM12.14, rose to RM50.28 adjusted, dividend RM0.52, in 2 Years 2 months 3 days, total return is 318.5%
c. MI TECHNOVATION BERHAD, recommended on 2 Jun 19, initial price was RM1.67, rose to RM6.33 adjusted, dividend RM0.055, in 1 Year 3 months 2 days, total return is 283.3%
d. OPENSYS M BHD, recommended on 24 May 20, initial price was RM0.355, rose to RM1.04, dividend RM0.0025, in 3 months 11 days, total return is 193.7%
e. CHIN HIN GROUP BHD, recommended on 2 Feb 20, initial price was RM0.57, rose to RM1.29, dividend RM0.01, in 7 months 2 days, total return is 128.1%
f. KKB ENGINEERING BHD, recommended on 1 Jul 18, initial price was RM0.795, rose to RM1.55, dividend RM0.10, in 2 Years 2 months 3 days, total return is 107.5%
g. KAREX BHD, recommended on 20 Oct 19, initial price was RM0.445, rose to RM0.84, dividend RM0.015, in 10 months 15 days, total return is 92.1%
h. PERAK TRANSIT BHD, recommended on 19 Jul 20, initial price was RM0.18, rose to RM0.27, dividend RM0.0025, in 1 month 16 days, total return is 51.4%
i. POWER ROOT BHD, recommended on 7 Oct 18, initial price was RM1.59, rose to RM2.21, dividend RM0.188, in 1 Year 10 months 28 days, total return is 50.8%
j. PROLEXUS BHD, recommended on 25 Aug 19, initial price was RM0.455, rose to RM0.675, dividend RM0.003, in 1 Year 10 days, total return is 49%
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[HIBISCUS PETROLEUM BHD: SEA Hibiscus sold 249,387 bbls of crude oil in one cargo during the Current Quarter as compared to 611,367 bbls from two cargoes in the Preceding Quarter. Average realised oil price achieved in the Current Quarter was USD31.79 per bbl whilst USD47.72 per bbl was achieved in the Preceding Quarter]
The Group’s current assets amounted to RM353.4 million as at 30 June 2020, a decrease of RM56.9 million from RM410.3 million as at 30 June 2019. This was largely due to the lower cash and bank balances of RM125.7 million compared to 30 June 2019. Net cash inflow from operations in both the Anasuria Hibiscus and North Sabah segments during the Current Year were utilised to finance obligations arising from the investments in capital expenditures in excess of RM200.0 million. In addition, the following notable payments were made during the Current Year:
• RM95.2 million for taxation liabilities across both the North Sabah and Anasuria assets;
• RM66.6 million for the 2019 calendar year’s portion of decommissioning liabilities related to the North Sabah asset in December 2019;
• RM26.1 million for Anasuria Hibiscus UK’s proportionate obligations for the estimated cost of decommissioning the facilities of the Anasuria Cluster into a trust; and,
• RM21.1 million (USD5.0 million) for the second and final tranche of deferred consideration relating to the North Sabah Acquisition in March 2020, per the agreed schedule.
Total liabilities increased from RM1,155.6 million as at 30 June 2019 to RM1,204.8 million as at 30 June 2020. Higher deferred tax liabilities balance as at 30 June 2020 by RM90.5 million was mainly due to additional deferred tax liabilities recognised on capital expenditures invested for both the North Sabah and Anasuria assets.
In addition, as at 30 June 2020, outstanding operations-related payables and accruals for the North Sabah asset increased by approximately RM35.5 million compared to 30 June 2019. The increase was mainly caused by amounts incurred for the St Joseph Infill Drilling, the South Furious 30 Infill Drilling and the South Furious 30 Water Flood Phase 1 projects. Total equity as at 30 June 2020 has decreased marginally by RM16.2 million when compared to 30 June 2019. This was attributable to the provisions for impairment for oil and gas assets recognised in the Current Year amounting to RM196.3 million.
The North Sabah segment recorded an EBITDA of RM98.9 million in the Current Quarter as compared to RM65.3 million in the Preceding Quarter. SEA Hibiscus sold 249,387 bbls of crude oil in one cargo during the Current Quarter as compared to 611,367 bbls from two cargoes in the Preceding Quarter. Average realised oil price achieved in the Current Quarter was USD31.79 per bbl whilst USD47.72 per bbl was achieved in the Preceding Quarter. Accordingly, the segment generated RM36.7 million revenue and RM16.0 million gross profit in the Current Quarter, lower than that in the Preceding Quarter, where revenue and gross profit were RM120.1 million and RM71.3 million respectively.
The Anasuria Hibiscus segment recorded a LBITDA and a LBT of RM6.0 million and RM27.0 million respectively in the Current Quarter as compared to that achieved in the Preceding Quarter, i.e. an EBITDA of RM40.8 million and a PBT of RM19.3 million. No crude oil sales were recorded in the Current Quarter.
3D Oil, VIC/L31 & VIC/P57:
During the Current Quarter, the segment recorded a LAT of RM179.0 million as compared to a LAT of RM5.6 million in the Preceding Quarter. Higher LAT in the Current Quarter was due to the provision for impairment made as at 30 June 2020 for both VIC/P57 and VIC/L31 amounting to RM183.5 million.
Investment holding and group activities:
This segment recorded a LAT in the Current Quarter of RM15.5 million, which was RM8.6 million higher than the LAT of RM6.9 million in the Preceding Quarter. This was caused by the additional provision for impairment made for the Rig of RM8.6 million in the Current Quarter.
In the current environment of COVID-19 and low oil prices, the key focus of the Group is to mitigate risks posed by these events to ensure business continuity and safe operations.
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