Post Reply
9321-9340 of 9826
Reversal heading back 0.10
all on the bola coy shd have responded to this wk allegations by now.. really tone deaf.. something very wrong @ board, mgt level..
moneynoenough ( Date: 23-Mar-2023 17:54) Posted:
|
SGX should initiate a thorough investigation and determine whether there is any punishable wrong doing given
so many valid points brought out by various investors. Don' t wait for the possible depletion of the company' s cash
for whatever reasons before doing so.
so many valid points brought out by various investors. Don' t wait for the possible depletion of the company' s cash
for whatever reasons before doing so.
FrancisLim ( Date: 25-Mar-2023 12:26) Posted:
|
UOBKH 21 March 2023
" Despite being an oil producer, REX&rsquo s net profit does not appear to have any correlation to the oil price as shown in the chart on RHS. We calculate that the correlation of REX&rsquo s net profit to the oil price at 0.07 and thus investors looking for an &ldquo oil price play&rdquo should look elsewhere.
In addition, the technology behind the company&rsquo s Rex Virtual Drilling does not appear to have added any shareholder value since the company&rsquo s IPO in 2013 at S$0.50. Over the 2014-22 period, the company recorded cumulative net losses of US$72m, with four out of the nine years being profitable. &bull
Dividend. The company declared a final dividend of S$0.005 per share for 2022. "
This Company has snooked the investors over its injected proprietary oil detection software - supposedly to be its main revenue generator selling this to 3rd parties. Turned out to be a flop.
It collected funding from IPO and listings.
Note over its years of operations - the Company recorded accumulated net losses of US$72 million.
Meanwhile paying the BOD well in terms of remunerations and stock options and cashing out when prices were being pushed up.
Now. worst selling its unrelaetd oil & gas businesses to the Co. Give the failure of the oil detection technology, investors are wary.
This reminds us of the Korean Co - Spackman and also the DBS led IPO of Eagle Hospitality Trust.
" Despite being an oil producer, REX&rsquo s net profit does not appear to have any correlation to the oil price as shown in the chart on RHS. We calculate that the correlation of REX&rsquo s net profit to the oil price at 0.07 and thus investors looking for an &ldquo oil price play&rdquo should look elsewhere.
In addition, the technology behind the company&rsquo s Rex Virtual Drilling does not appear to have added any shareholder value since the company&rsquo s IPO in 2013 at S$0.50. Over the 2014-22 period, the company recorded cumulative net losses of US$72m, with four out of the nine years being profitable. &bull
Dividend. The company declared a final dividend of S$0.005 per share for 2022. "
This Company has snooked the investors over its injected proprietary oil detection software - supposedly to be its main revenue generator selling this to 3rd parties. Turned out to be a flop.
It collected funding from IPO and listings.
Note over its years of operations - the Company recorded accumulated net losses of US$72 million.
Meanwhile paying the BOD well in terms of remunerations and stock options and cashing out when prices were being pushed up.
Now. worst selling its unrelaetd oil & gas businesses to the Co. Give the failure of the oil detection technology, investors are wary.
This reminds us of the Korean Co - Spackman and also the DBS led IPO of Eagle Hospitality Trust.
Have you guys looked at the remuneration of Rex management and board? It' s ridiculous for a company with a market capitalisation of S$150m!
From its 2021 annual report, we can see that its CEO is paid between S$5.75-6m (no exact number given, only a band) and the company made S$67m in net profit that year. Compare this to Keppel which made S$1.b that year, but CEO " only" paid a measly $6.9m! Also in 2021, Rex' s three independent directors were paid between $280,000-330,000 which is equivalent to DBS' s independent directors!!!
Rex' s head of corporate communications is paid between S$750,000 to $1m! Seriously man - what a joke.
From its 2021 annual report, we can see that its CEO is paid between S$5.75-6m (no exact number given, only a band) and the company made S$67m in net profit that year. Compare this to Keppel which made S$1.b that year, but CEO " only" paid a measly $6.9m! Also in 2021, Rex' s three independent directors were paid between $280,000-330,000 which is equivalent to DBS' s independent directors!!!
Rex' s head of corporate communications is paid between S$750,000 to $1m! Seriously man - what a joke.
Rex is really becoming a T-Rex i.e. becoming extinct. Unless there are management changes to weed out the incompetence.
George' s article on 23 March 2023 in BT.
share buyback - unless the Co allocates a sum of money to do share buyback, most buybacks are meaningless and ineffective.
Probably hyped for interested parties to offload in most cases in this market.
interest expense on the Co' s borrowing is shooting up, the Norwegian floating rate has more than doubled since the bond was launched
Co has more cash than the borrowing - should not the Co try to do early redemption of its bonds to optimise its interest expense
Co in its presentation, indicated that it would pay quarterly 0.5 cents dividend per quarter and 2 cents for 2023?
Not easy to read the Oil Co' s cashflow...
Also what the cash flow requirements for the Provisioning on Decommissioning?
The Co' s made huge profit from its partnered oil fields in 2021.
Of concern, the declining production volume from its Oman oilfield and not to mention production stoppage.
The foray into drone and concern over IPT, is a distraction.
The Co IPO on its oil detection technology and supposedly to provide this to other oil exploration cos. It did not sustain.
As George pointed it is better to invest in funds that invest in drones than IPTs. Although the amount may not be huge, it is a distraction raises queries on governance, on strategy, etc...
Co has an investment portolio.. are they more profitable than offseting the bond increasing interest expenses??
What are Co' s investors looking for? Besides trading in the stock volatility?
Oil Exploration Technonlogy - did not take off as hyped.
Oman oil fields - declining oil production
Drone ventures?
DYODD
share buyback - unless the Co allocates a sum of money to do share buyback, most buybacks are meaningless and ineffective.
Probably hyped for interested parties to offload in most cases in this market.
interest expense on the Co' s borrowing is shooting up, the Norwegian floating rate has more than doubled since the bond was launched
Co has more cash than the borrowing - should not the Co try to do early redemption of its bonds to optimise its interest expense
Co in its presentation, indicated that it would pay quarterly 0.5 cents dividend per quarter and 2 cents for 2023?
Not easy to read the Oil Co' s cashflow...
Also what the cash flow requirements for the Provisioning on Decommissioning?
The Co' s made huge profit from its partnered oil fields in 2021.
Of concern, the declining production volume from its Oman oilfield and not to mention production stoppage.
The foray into drone and concern over IPT, is a distraction.
The Co IPO on its oil detection technology and supposedly to provide this to other oil exploration cos. It did not sustain.
As George pointed it is better to invest in funds that invest in drones than IPTs. Although the amount may not be huge, it is a distraction raises queries on governance, on strategy, etc...
Co has an investment portolio.. are they more profitable than offseting the bond increasing interest expenses??
What are Co' s investors looking for? Besides trading in the stock volatility?
Oil Exploration Technonlogy - did not take off as hyped.
Oman oil fields - declining oil production
Drone ventures?
DYODD
Lousy company lah. Ang mohs taking minority Singapore shareholders and their hard earned money for granted and " spending it like they stole it" . Here' s a long/short idea - long RH Petrogas and short Rex. Guarantee make money one...
george morgan cfa is woke...
more nids to awake to these folly pet projects!
ratz... the mgt still very quiet aft such a noisy wk in the public domain... tone deaf... or respond only in swedish media... or ... total bo chap..?
more nids to awake to these folly pet projects!
ratz... the mgt still very quiet aft such a noisy wk in the public domain... tone deaf... or respond only in swedish media... or ... total bo chap..?
moneynoenough ( Date: 21-Mar-2023 12:37) Posted:
|
Yes.. most of the shareholder would like to understand what is happen that so call unexpected stop production from June to November 2022.
the director need to explain it and provide more detail on it.. because the income from the company is the oil field.
For the diversified to other field like drone and medical.. for drone i have not comment on it as this technology is good and have future market especialiy trade war between US and China.
the director need to explain it and provide more detail on it.. because the income from the company is the oil field.
For the diversified to other field like drone and medical.. for drone i have not comment on it as this technology is good and have future market especialiy trade war between US and China.
Today' s BT
https://www.businesstimes.com.sg/opinion-features/open-letter-rex-international-holdings-directors-and-management
At the same time, the appalling production stoppages in 2022 when oil was at over US$100 a barrel have never been satisfactorily explained. This seems to indicate a pressing need to upgrade skills and personnel in the production area to ensure that this type of disruption never happens again.
https://www.businesstimes.com.sg/opinion-features/open-letter-rex-international-holdings-directors-and-management
At the same time, the appalling production stoppages in 2022 when oil was at over US$100 a barrel have never been satisfactorily explained. This seems to indicate a pressing need to upgrade skills and personnel in the production area to ensure that this type of disruption never happens again.
Over the last 2 years period, the daily production at Oman oil field declined from 14k stb per day to now 5.5k.
One has to recognise Oman is old used oilfield.
Also, look at last 6 months results - exploration costs shot up, impairment shot up. It means that the cost of extraction and the value of the mines will impact negatively on the results.
One has to recognise Oman is old used oilfield.
Also, look at last 6 months results - exploration costs shot up, impairment shot up. It means that the cost of extraction and the value of the mines will impact negatively on the results.
Will it turn green?......
boyboy61 ( Date: 23-Mar-2023 14:44) Posted:
|
Now 12.6....hmmmmmm
kt3152 ( Date: 23-Mar-2023 13:59) Posted:
|
The Norwegians are taking REX as their private company buying non-related businesses from its shareholders and directors.
Such shareholders and directors are running all over us the small investors in Singapore
Such shareholders and directors are running all over us the small investors in Singapore
boringguy ( Date: 23-Mar-2023 14:41) Posted:
|
i think overrall should be fine.. Now the important is on the 6 months production volume.
if management able to recover to 60 to 80 percentage production volume.. Rex will be in good position.
i do check with my friend who in production line, yes,, after upgrade and change.. the production volume need to take time to recover cannot immediate full force it will cause major issues.
he also said no right and bad time to do the upgrade on the production.. it will depend on the management to take on the risk and luck..
if management able to perform change and upgrade during oil at high price and able to on the profit.. it will be safe otherwise will cause fianncial trouble to the company.
this is because raw material, equipement and man power is no longer cheap and operation cost will getting higher plus fluaction on the currency will increase a lot cost.
if management able to recover to 60 to 80 percentage production volume.. Rex will be in good position.
i do check with my friend who in production line, yes,, after upgrade and change.. the production volume need to take time to recover cannot immediate full force it will cause major issues.
he also said no right and bad time to do the upgrade on the production.. it will depend on the management to take on the risk and luck..
if management able to perform change and upgrade during oil at high price and able to on the profit.. it will be safe otherwise will cause fianncial trouble to the company.
this is because raw material, equipement and man power is no longer cheap and operation cost will getting higher plus fluaction on the currency will increase a lot cost.
2021 crude oil average is $70.8..
But Rex still make good money
YeH.. So bad..
Average annual Brent crude oil price from 1976 to 2023 (in U.S. dollars per barrel)
Characteristic Average crude oil price in U.S. dollars per barrel
2021 70.86
2020 41.96
2019 64.3
2018 71.34
9 more rows?15 Feb 2023
2021..oil price.. Rex loose pants??
ahberngh ( Date: 23-Mar-2023 14:00) Posted:
|
Oil price up, now 76.69
But for Rex, oil above 100 can hardly make money, so at 76.69 can make
money or not?
But for Rex, oil above 100 can hardly make money, so at 76.69 can make
money or not?
Wow who so desperate, throw 500 lots 11.9.....