suddenly active back the forum ...

ok i go hide myself already

I wouldn't know if it is no longer a SPAC or not.

All I know the quality of Hibiscus as a company sucks.

So if it's not a SPAC, as a oil company (correct ah?) ....
why can't it generate more than 15 million in sales per year?

yeah... with such one sided pusing pusing discussions ..... I might as well go play with my lizards in my corner.

Just read hibiscus detailed disclosures.. indeed their lifting cost is around $28-$31 ... due to mature field.

And Anansuria FPSO is commissioned in 1996.. means it's 19 years old already..

Just facts for thoughts.

Just my 2 cents opinion:

1. Noted that Hibiscs changed their FYE from December to June. So this round we are looking at 18 months results (Jan'14 to June'15) versus previous FYE of 12 months (Jan'13 to Dec'13). I wonder why they didn't try to show a comparison of results for 12 months versus 12 months or 18 months versus 18 months as a separate appendix...
2. Cash and cash equivalent has dropped significantly versus FYE13. Is this a good sign? I guess in some aspect that explains the major private placement coming up. Current year cash = 5.930m = 1% of total assets.
3. Investment in JV = 259.31m which is 47% of total assets.
4. Investment in Associate = 5.022m which is 1% of total assets.
5. Fixed assets = 55.451m = 10% of total assets.
6. Based on Point 3 to 5, are we very sure this assets are generating positive income @ cashflow to Hibiscs business? If you want to be realistic, then for Hibiscs to be in the black, that would take several years for everything to stabilise and for them to be profitable.
7. Based on Point 3 to 5, are we sure that this assets won't be subject to further impairment given current circumstances and perhaps in the future if operations is totally different from management's expectations? This will affect the bottom line even further.
8. Intangible assets = 144.744m which is 26% of total assets. Can make money from that much IA? Seems more like angpao money to me or perhaps to some extend an overestimation of the new assets acquired potential? This is also subject to impairment if things don't work out.
9. What is Hibiscs competitive advantage versus all the other oil players? Really sure they are operating at breakeven or profitable level given current oil prices?
10. Do you see anywhere in the announcement or news by Hibiscs assuring that their business and the prospects they are entering/venturing to will be profitable now or even in the near future (meaning next 1 to 3 years)?

So why invest in something that is still in the red and will take few years to even try to be profitable?

But if you are trading, all the above is pointless.

Some traders do read one la.

unker gark's IDX move until

so free a? minum kopi?

Batu apu !!!!!!!

My previous recommendation.. INCO .. now zoomed up to 2,4XX already...

Man.. I suck at short term trading..

Should have sticked to long term..

This post has been edited by gark: Oct 1 2015, 12:01 PM

Today damn kuat!!!

No eye see .. already..

Eh, just wondering... was there ever a gathering organised by Lowyat or any of the old timers for those interested in investing/trading?

If yes, it would be nice to organise one again to meet up face to face and discuss investing/trading strategies.

Doesn't matter which type of stock or market or investment instrument.

i'm in.

NSK Steamboat sponsored by Pink Spider .. and then onwards to karaoke..

This post has been edited by gark: Oct 1 2015, 12:58 PM

aiya trading talk c0xk only... lol

no need so serious ya guys ...

i talk for fun only...

not twisting ...

you know my style ma.. from the first day until now.. i kaki trade kaki song lol

jio me please lol

i go there sit and listen you all teach me lol

Go NSK? No trading talks liao...all busy...raba raba

Hahahaha all his VN mui is there!