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18,834 comment(s). Last comment by i3lurker at Nov 29, 2022 8:16 PM
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newbird33
149 posts

Posted by newbird33 > Nov 14, 2022 4:52 PM | Report Abuse

Confirmed go Holland


Sslee
164 posts

Posted by Sslee > Nov 14, 2022 8:33 PM | Report Abuse

Will send out below email tomorrow.
Dear MR. MANOJ DEVADASAN
General Counsel / Company Secretary / Manager-Human Resources/Compliance Office
Shahidah Aris
Senior Legal Advisor/Assistant Company Secretary

I refer Petron Malaysia holding company: Petron Corp Q3 financial result

Year-on-year prices of Dubai grew by 59% to $95.6/bbl in 1Q 2022 vs. $60.0/bbl in the same period last year, due to the continued geopolitical tensions surrounding Russia’s invasion of Ukraine and a further draw in US crude and distillate inventories added to the price support. Ytd- March 2022 product cracks improved with strong demand as supply tightens.
Q12022
Prices of Dubai crude $ 95.6/bbl
Gasoline cracks increased from $7.1/bbl in 1Q 2021 to $17.8/bbl in 1Q 2022.
Diesel cracks from $5.8/bbl to $21.6/bbl.
kero-jet cracks from $3.3/bbl to $16.2/bbl.

Year-on-year prices of Dubai grew by 60.4% to $101.8/bbl in 1H 2021 vs. $63.5/bbl in the same period last year, as supply concerns continue resulting from the ongoing geopolitical conflicts amid recovering global demand. 1H 2022 product cracks also reached record-high level Q2. Average refining cracks of gasoline cracks increased from $8.5/bbl in 1H 2021 to $26.4/bbl in 1H 2022, diesel cracks from $6.4/bbl to $36.6/bbl, and kero-jet cracks from $3.9/bbl to $27.7/bbl.
Q2 2022
Prices of Dubai crude $ (101.8X2- 95.6) = 108
Gasoline cracks $ (26.4X2-17.8) = 35
Diesel cracks $ (36.6X2-21.6) = 51.6
Kero-jet cracks $(27.7X2-16.2) = 39.2

Dubai prices grew by 51.3% to $100.2/bbl as of ytd-September vs. $66.2/bbl in the same period last year, as supplies remained tight because of the sanctions on Russian oil after its invasion of Ukraine. Ytd-September 2022 product cracks have also been elevated with gasoline cracks increasing from $9.6/bbl in the same period last year to $22.0/bbl, diesel cracks from $6.9/bbl to $38.1/bbl, and kero-jet cracks from $4.4/bbl to $29.3/bbl.
Q3 2022
Prices of Dubai crude $ (101.2X3- 95.6-108) = 100.3
Gasoline cracks $ (22X3-17.8-35) = 13.2
Diesel cracks $ (38.1X3-21.6-51.6) = 41.1
Kero-jet cracks $(29.3X3-16.2-39.2) = 32.5

From Q3 end 30 Sept 2022
Net income attributable to non-controlling interest: 95 million Peso
Petron Corp owned 73.4% Petron Malaysia hence Petron Malaysia net income is 95/0.266 = 357.14 million Peso;
On 30th Sept 2022 MYR to Philippine Peso was 12.6426.
Q3 Petron Malaysia net income: RM 357.14/12.6426 = 28.25 million.
Q2 Petron Malaysia net income: RM 183.479 million
Q1 Petron Malaysia net income: RM 106.377 million

I am very disappointed with the projected Petron Malaysia Q3 net income of RM 28.25 million (from Petron Corp Q3 financial result) when Petron Malaysia petrol stations should be doing very well and Q3 refining crack spread as of below should also bring in the refiner profit. I just can’t understand how Q3 net income is lower than Q1 net income?
Gasoline cracks $ (22X3-17.8-35) = 13.2
Diesel cracks $ (38.1X3-21.6-51.6) = 41.1
Kero-jet cracks $(29.3X3-16.2-39.2) = 32.

For your information I had posted my previous email to you in i3investor and the blog had generated 20,747 views, 6 likes and 17 comments.
https://klse1.i3investor.com/blogs/Sslee_blog/2022-10-31-story-h165109...

The 20.747 views can only mean the investing public have very high expectations on Petron Malaysia Business and profitable moving forward. I believe the Petron Board will meet in the next few days before the Petron Malaysia Q3 result is released to the public. It is my hope the Board will consider to give investors’ briefings to Kenanga IB analyst and the briefing minutes published at Petron Malaysia website

Thank you
Have a good day

Best Regards
Lee Soon Sheng


i3lurker
12199 posts

Posted by i3lurker > Nov 14, 2022 9:15 PM | Report Abuse

Open Letter To Mr Lee Soon Sheng

FAQ
Q1 How do you know that Petron petrol stations are doing very well?
Answer
Ask yourself how many Petron petrol stations you have been to? In some Petron Stations the Bangla will come and stand without any social distancing at all very very near to you and breathe bad breath into your face within inches. I guess your wife will love this type of petrol stations?

Q2 How are posted website crack rates related to sales by Petron?
Answer
Oil Sales are based on willing buyer willing seller basis. Oil sales prices are not fixed and or guaranteed by United Nations European Union UNCTAD, OECD WTO ASEAN G20 G7 Quad Group RIMPAC Allied Powers and or Axis Powers based on crack rates posted on websites. Please refer to willing buyer willing seller basis, parri passu with transactions with your friendly Jalan Alor mini-skirt friends waving next to lamp posts.

Q3 Any other things I should know about?
Answer
Dealers at some Petron shops have dimmed their ceiling lights to reduce costs and or make it more romantic. This attracts some love deprived or love challenged women like your wife to go shopping there. However in the retail line, bright lights transfer happiness so some depressed people like MikeCheatYouCrazy and qqq3 will generally avoid such romantic shops. On the balance of probabilities net sales usually suffer more often than gain purely due to lack of relevant love deprived or love challenged women like your wife.

Hope the above is helpful in your pursuit of Happiness.


i3lurker
12199 posts

Posted by i3lurker > Nov 14, 2022 9:38 PM | Report Abuse

errata
NATO is also included in above Guarantee Organizations.
Any inconvenience caused is much regretted.


i3lurker
12199 posts

Posted by i3lurker > Nov 15, 2022 7:40 AM | Report Abuse

Crack rates are just wild guesses to revenues, usually wrong guesses.


Sslee
164 posts

Posted by Sslee > Nov 15, 2022 8:36 AM | Report Abuse

https://klse1.i3investor.com/blogs/Sslee_blog/2022-11-15-story-h1651990549-Petron_Malaysia_projected_net_income_from_Petron_Corp_Q3_financial_resu.jsp

Petron Malaysia projected net income from Petron Corp Q3 financial result announced on 14th Sept 2022.


BobAxelrod
5543 posts

Posted by BobAxelrod > Nov 15, 2022 8:37 AM | Report Abuse

Already can almost see and taste their reply to Mr Lee....
"Thank you for your kind concern and venting of grouses. Please stay tuned and await the Q3 release in a few more days. Your kind support is much appreciated"


hng33
18640 posts

Posted by hng33 > Nov 15, 2022 9:34 AM | Report Abuse

Upcoming Q3 PetronM result only expect to deliver EPS 11sen, is 86% decrease compared Q2 to Q3.

https://klse1.i3investor.com/blogs/Sslee_blog/2022-11-15-story-h1651990549-Petron_Malaysia_projected_net_income_from_Petron_Corp_Q3_financial_resu.jsp


kebling98
96 posts

Posted by kebling98 > Nov 15, 2022 11:14 PM | Report Abuse

Commodity Swaps. The Group has outstanding swap agreements covering its oil requirements, with various maturities. Under the agreements, payment is made either by the Group or its counterparty for the difference between the hedged fixed price and the relevant monthly average index price. Total outstanding equivalent notional quantity covered by the commodity swaps were 14.3 million barrels and 24.6 million barrels as of June 30, 2022 and December 31, 2021, respectively. The estimated net pay- outs for these transactions amounted to (P2,448) and (P543) as of June 30, 2022 and December 31, 2021, respectively.

Commodity Swaps. The Group has outstanding swap agreements covering its oil requirements, with various maturities. Under the agreements, payment is made either by the Group or its counterparty for the difference between the hedged fixed price and the relevant monthly average index price. Total outstanding equivalent notional quantity covered by the commodity swaps were 16.8 million barrels and 24.6 million barrels as of September 30, 2022 and December 31, 2021, respectively. The estimated net pay-outs for these transactions amounted to (P249) and (P543) as of September 30, 2022 and December 31, 2021, respectively.


kebling98
96 posts

Posted by kebling98 > Nov 15, 2022 11:20 PM | Report Abuse

page 43 , 45 show something about derivative lah
Since 2021 , Only Q3 can see derivatives assets more than derivatives liabilities lei
Good sign?


kebling98
96 posts

Posted by kebling98 > Nov 15, 2022 11:21 PM | Report Abuse

Macam Q4 baru can make derivatives gains


kebling98
96 posts

Posted by kebling98 > Nov 15, 2022 11:22 PM | Report Abuse

Meaning Q4 is yummy


kebling98
96 posts

Posted by kebling98 > Nov 15, 2022 11:27 PM | Report Abuse

Alamak meaning hedging pending loss 1000m for hy will reduce to 100 m ? macam ni means hy Q2 PAT 667m is real one lei. Any sifu can interpret boh? Like that must buy back hy lei.


kebling98
96 posts

Posted by kebling98 > Nov 16, 2022 7:33 AM | Report Abuse

28.25 m profit ( 30m ) was due to higher handling cost of oil and finished product

Petron pay 19% of oil price for the handling cost loh
Is too much lei
Normal rate is 5~9% only lah

Really disappointed lei

Means petron net margin is 124 - 119 = 5only lah

Gross profit 190 m only lah


AzlanIshtiqal
203 posts

Posted by AzlanIshtiqal > Nov 17, 2022 11:26 AM | Report Abuse

Minggu depan Petronm akan mengumumkan keputusan Q3nya?


King_trader_shadow
173 posts

Posted by King_trader_shadow > Nov 20, 2022 2:52 PM | Report Abuse

Let's not anticipate very much, wait till the ER is out then we react accordingly.

Let's participate more rather than anticipate.


AzlanIshtiqal
203 posts

Posted by AzlanIshtiqal > Nov 21, 2022 11:38 AM | Report Abuse

Betul cakap anda, King_trader_shadow. Tunggu Jumaat ni dan tengok Petronm ada keluar keputusan Q3nya tak


King_trader_shadow
173 posts

Posted by King_trader_shadow > Nov 21, 2022 11:40 PM | Report Abuse

Sslee,

Do you get personal reply from IR on the IB degrade the TP of petronm?


Jerichomy
3332 posts

Posted by Jerichomy > Nov 22, 2022 10:32 PM | Report Abuse

Otb dan sslee dah banklap in petronm and HY haha


AzlanIshtiqal
203 posts

Posted by AzlanIshtiqal > Nov 23, 2022 11:49 AM | Report Abuse

Kekalahan parti perjuang tak banyak memberi kesan negatif kepada kaunter ni


Jerichomy
3332 posts

Posted by Jerichomy > Nov 23, 2022 11:21 PM | Report Abuse

Azlan mesti otb macai

AzlanIshtiqal
Kekalahan parti perjuang tak banyak memberi kesan negatif kepada kaunter ni
11 hours ago


King_trader_shadow
173 posts

Posted by King_trader_shadow > Nov 24, 2022 10:15 AM | Report Abuse

Earning good leh!


King_trader_shadow
173 posts

Posted by King_trader_shadow > Nov 24, 2022 10:15 AM | Report Abuse

Earning good leh!


AzlanIshtiqal
203 posts

Posted by AzlanIshtiqal > Nov 24, 2022 12:00 PM | Report Abuse

Belum keluar belum tahu keputusannya...


Jerichomy
3332 posts

Posted by Jerichomy > Nov 24, 2022 11:15 PM | Report Abuse

Jerichomy

Jerichomy
Haha based in current situation
Zhu pak/otb will become top 10 sharegholders of HY and PetronM soon

Haha


Jerichomy
Jerichomy

Jerichomy

Jerichomy
Haha

AYS is 38 cents and hiap teck is 22 cents 1/10/2022

But otb said will hiap teck will be rm1.16 hahaha

HY and PetronM will be like AYS and Hiap Teck haha


From hiap teck forum



onhands
Blog: Why is Mr Ooi Teck Bee’s Rm 1.16 target for Hiap Teck easily achievable? Koon Yew Yin

2021-10-24 21:48 | Report Abuse
2 weeks ago

onhands
Blog: Hiap Teck will shoot like a rocket - Koon Yew Yin

2021-08-29 21:31 | Report Abuse

Shoots up like SpaceX Starship rocket?
2 weeks ago

onhands
it is Space Shuttle Challenger
2 weeks ago

dompeilee
Whatever old con KYY tells u 2 buy...u SELL!
2 weeks ago

TreeTopView
Hiap Teck's 4Q net profit tumbles 59.53% on lower profit margin despite revenue jump.

https://www.theedgemarkets.com/article/hiap-tecks-4q-net-profit-tumbles-5953-lower-profit-margin-despite-revenue-jump
2 weeks ago

Phoebe
Die standing. Rest in peace.
Don't worry. As a consolation, You will soon receive sorry, sorry, sorry.
Sorry....poof!!! 100k loss
Another Sorry.....pooof!!! Another 100k gone
Sorry.....poof!!!.....rest in peace Capital
2 weeks ago
10 hours ago
2 weeks ago
18 hours ago
6 hours ago
1 day ago
1 day ago
0 seconds ago
2 days ago
23 hours ago
25 minutes ago
2 weeks ago


Jerichomy
3332 posts

Posted by Jerichomy > Nov 24, 2022 11:17 PM | Report Abuse

brightsmart
even analyst says they don't cover HY Petron because they don't want to be embarrassed.
2 hours ago

BobAxelrod
Not want to argue over the PetronM Taxation but it's throwing us a big sign.

Yes, salaries to employees are deducted and paid to LHDN........that's what I said.

And PetronM has no Earnings yet which is why a negative PBT, accurals can be deferred.

P/S already with a few shots of Bourbon.....good talk, talk again tomorrow.....

2 hours ago


Sslee
164 posts

Posted by Sslee > Nov 25, 2022 9:24 AM | Report Abuse

Draft questions for Petron Malaysia Q3 financial result:
Any comments

OSP of Malaysia Tapis blend per barrel
July: USD 119.59
Aug: USD 111.75
Sept: USD 102.58
Average July to Sept: USD (119.59 + 111.75 +102.58)/3 = USD 111.307

Q3 Dated Brent dropped by 11% to USD 101/barrel in Q3 from the USD 114/barrel in Q2
Q3 Financial result:
Revenue: RM 4,684,552,000
Cost of sales: RM 4,821,552,000
Sales volume: 8.6 million barrels

Average USD to MYR July to Sept: 4.45
Revenue per barrel: USD 4,684,552,000/(8,600,000 x4.45) = USD 122.408
Cost of sales per barrel: USD 4,821,552,000/(8,600,000x4.45) = USD 125.988
Derivatives
Realized gain: RM 139,957,000 or USD 139.957,000/(8,600,000x4.450)= USD 3.66/barrel
Unrealized gain RM 7,588,000

Q2 Financial result:
Revenue: RM 5,596,062,000
Cost of sales: RM 5,180,442,000
Sales volume: 8.7 million barrels

Average USD to MYR April to June: 4.35
Revenue per barrel: USD 5,596,062,000/(8,700,000 x4.35) = USD 147.868
Cost of sales per barrel: USD 5,180,442,000/(8,700,000x4.35) = USD 136.886
Derivatives
Realized loss: RM 207,862,000 or USD 207,862,000/(8,700,000x4.35)= USD 5.49/barrel
Unrealized loss: RM 166,799,000


My questions
Question 1: Please explain why Q3 revenue per barrel is USD 122.408 a sharp dropped of USD 25.460 from Q2 USD 147.868 when International price of fuels as reported by Petron Corp for Q2 and D3 as below excluded the retail petrol stations fixed margin per barrel?
Q2 2022
Prices of Dubai crude USD (101.8X2- 95.6) = 108/barrel
Gasoline cracks USD (26.4X2-17.8) = 35. Price USD (108 + 35) = USD 143/barrel
Diesel cracks USD (36.6X2-21.6) = 51.6. Price USD (108 + 51.6) = USD 159.6/barrel
Kero-jet cracks USD (27.7X2-16.2) = 39.2. Price USD (108 + 39.2) USD 147.2
Q3 2022
Prices of Dubai crude USD (101.2X3- 95.6-108) = USD 100.3/barrel
Gasoline cracks $ (22X3-17.8-35) = 13.2. Price USD (100.3 + 13.2) = USD 113.5/barrel
Diesel cracks $ (38.1X3-21.6-51.6) = 41.1. Price USD (100.3 + 41.1) = USD 141.4/barrel
Kero-jet cracks $(29.3X3-16.2-39.2) = 32.5. Price USD (100.3 + 32.5) = USD 132.8/barrel

Question 2: How many barrels did Petron Malaysia PD refinery processed in Q3?

Question 3: Retail Petrol stations sales volume and the PBT?

Question 4: Please explain the cost of sales in Q3 USD 125.988/barrel when Dated Brent is USD 101/barrel in Q3 and OSP of Malaysia Tapis blend per barrel average Q3 is USD 111.307?


brightsmart
1621 posts

Posted by brightsmart > Nov 25, 2022 9:31 AM | Report Abuse

Unfortunately I don't think that's how it works, sslee... Setting yourself up for disappointment


AzlanIshtiqal
203 posts

Posted by AzlanIshtiqal > Nov 25, 2022 11:27 AM | Report Abuse

Sangka harga saham Petronm akan turun banyak selepas mengumumkan keputusan Q3 yg lemah...


Jerichomy
3332 posts

Posted by Jerichomy > Nov 26, 2022 8:19 AM | Report Abuse

Otb diamnya so dia dah banklap


MoneyMakers
7105 posts

Posted by MoneyMakers > Nov 28, 2022 2:12 PM | Report Abuse

Not surprised worst QR in 2yrs - crack spread alrdy collapse (Mogas crack negative)

Guess petron share price 2yrs ago - rm3.5 (now 30% overvalue @ rm4.5)


Jerichomy
3332 posts

Posted by Jerichomy > Nov 29, 2022 7:50 PM | Report Abuse


Haha otb/sslee/johnzhang….semua otb macai mai lari tapi takda buyer…

Banklap otb geng

MoneyMakers
Walao crazy (-600Mil) loss

Just yesterday explain possible see huge QR loss (got laughed away by sslee/bob) kikiki
1 hour ago
0 seconds ago


Jerichomy
3332 posts

Posted by Jerichomy > Nov 29, 2022 7:52 PM | Report Abuse


Jerichomy
Jerichomy

Jerichomy
Haha based in current situation
Zhu pak/otb will become top 10 sharegholders of HY and PetronM soon

Haha


Jerichomy
Jerichomy

Jerichomy

Jerichomy
Haha

AYS is 38 cents and hiap teck is 22 cents 1/10/2022

But otb said will hiap teck will be rm1.16 hahaha

HY and PetronM will be like AYS and Hiap Teck haha


From hiap teck forum



onhands
Blog: Why is Mr Ooi Teck Bee’s Rm 1.16 target for Hiap Teck easily achievable? Koon Yew Yin

2021-10-24 21:48 | Report Abuse
2 weeks ago

onhands
Blog: Hiap Teck will shoot like a rocket - Koon Yew Yin

2021-08-29 21:31 | Report Abuse

Shoots up like SpaceX Starship rocket?
2 weeks ago

onhands
it is Space Shuttle Challenger
2 weeks ago

dompeilee
Whatever old con KYY tells u 2 buy...u SELL!
2 weeks ago

TreeTopView
Hiap Teck's 4Q net profit tumbles 59.53% on lower profit margin despite revenue jump.

https://www.theedgemarkets.com/article/hiap-tecks-4q-net-profit-tumbles-5953-lower-profit-margin-despite-revenue-jump
2 weeks ago

Phoebe
Die standing. Rest in peace.
Don't worry. As a consolation, You will soon receive sorry, sorry, sorry.
Sorry....poof!!! 100k loss
Another Sorry.....pooof!!! Another 100k gone
Sorry.....poof!!!.....rest in peace Capital
2 weeks ago
10 hours ago
2 weeks ago
18 hours ago
6 hours ago
1 day ago
1 day ago
0 seconds ago
2 days ago
23 hours ago
25 minutes ago
2 weeks ago
4 days ago


i3lurker
12199 posts

Posted by i3lurker > Nov 29, 2022 8:16 PM | Report Abuse

sslee

calculations as follows

$101 is for 1 barrel of crude...

you need to do the Total complete barrel crack by percentages

ie

30% of output A => Total output in barrels X Selling price A ie ask qqq3
76% of output B => Total output in barrels X Selling price B ie 138.86
[example output gain 6% for WTI]

minus

Total input in MikeCheatYouCrazy barrels X cost of crude. ie $101

= Gross Profit

otherwise you will get cracko cracked Tanjung Rambutan MikeCheatYouCrazy RM Trillions in Invisible Virtual Profits.

Posted by Sslee > 17 minutes ago | Report Abuse

NYMEX Singapore GASOIL PLATTS Futures Historical Data
Time Frame:
Daily
07/01/2022 - 09/30/2022
Highest: 165.88
Lowest: 127.33
Difference: 38.55
Average: 138.86
Change %: -26.98

From Petron Malaysia on brent crude:
Q3 Dated Brent dropped by 11% to USD 101/barrel in Q3 from the USD 114/barrel in Q2.

So qqq3 the diesel crack spread should be USD (138.86- 101) = USD 37.86 per barrel.

Do I answered your question on where is fat diesel fuel oil margins?

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