ShareJunction - Stock Forum Messages

Rex Intl Last:0.072

-0.002

The next chapter

Anyone mind to share your average price?Dam regret never sell above 0.2.......

I think better to get out and move to other counter for the time being.....

JUNK!!!! Everyday new low....................x hole!!!

11.9, below 12 liao

ahberngh ( Date: 23-Mar-2023 11:20) Posted:

Going down again.

I think may go below 12c soon.

From my observations of management, I think they don' t care two hoots

about retailers concerns.

Just my opinion, please dyodd.

Agree... As explained by Coy.. Volunteers will be slowly increasing after the repairs... Upgrade.. This is necessary to slowly increase the volume of crude being pumped out.. Oif pumping rate is too high.. You may end up with a collapse oil field.. I stand to be corrected

FrancisLim ( Date: 23-Mar-2023 11:11) Posted:

its latest monthly production report for Oman showed its volume dropped by more than half.
Last 6 months of 20222, failed to tcapitalize on the high oil prices - instead exploration costs and impairment costs shot up.
Co ipo on its so called oil finding technology, basically it faded without much success. Recently, acquiring drone intermediary business..
This stcok will be pushed up and down, and everytime it went up, those who received stock grants, etc cashed out.

Time to buy... Jeep Argh

its latest monthly production report for Oman showed its volume dropped by more than half.
Last 6 months of 20222, failed to tcapitalize on the high oil prices - instead exploration costs and impairment costs shot up.
Co ipo on its so called oil finding technology, basically it faded without much success. Recently, acquiring drone intermediary business..
This stcok will be pushed up and down, and everytime it went up, those who received stock grants, etc cashed out.

Nothing has changed for REX except the sentiment on the share after this analyst downgrade the stock.
But actually nothing changes, life and business still goes on as per normal for REX, time to scoop UP the cheaper Rex share now? You decide.

New valuations.. Can someone who knows what analyst doing.. Applied it on RHPETROGAS.. the results will be interesting..

Time to accumulate.. Just because different method of defining value... Kenna shorter..?? What has changed?? Nothing.. Only oil price fluctuating.. So has this analyst applied the so called new vacation on other stocks.. I like to know.. 🥺 🥺

Thanks. Looks like going down again.....

CoolAngler ( Date: 22-Mar-2023 12:42) Posted:

yea some..< .13

kt3152 ( Date: 22-Mar-2023 09:48) Posted:

You sold to them? I sold to local house at 131....

yea some..< .13

kt3152 ( Date: 22-Mar-2023 09:48) Posted:

You sold to them? I sold to local house at 131.....

CoolAngler ( Date: 22-Mar-2023 09:32) Posted:

Big foreign houses sweeping up...

could this be another KRIS ENERGY??.. invest so much of investors money and GOT nothing from it..rem KRIS was a market darling who fall from GRACE.. from $1.10 to ZERO..

Joelton ( Date: 22-Mar-2023 10:29) Posted:

Rex International&rsquo s diversification moves draw doubters

SINGAPORE Exchange Regulation (SGX Regco) appeared to have read the market&rsquo s mind &ndash or misgivings &ndash with its spot-on queries to Rex International Holding on its recent diversification moves.

Although the mainboard-listed company responded to these queries in some detail, Rex is unlikely to erase market doubts quickly enough.

Rex owns oil exploration and production assets in Norway and Oman. The company was listed on the junior Catalist board until March last year, when it ascended to SGX&rsquo s mainboard.

Since then, Rex has announced investments in a commercial drone maker called Xer Technologies, and a Swedish medtech startup called Moroxite T.

The investment in Zurich-headquartered Xer was done over two transactions: Rex first paid US$1 million for a 40 per cent stake, and then another US$1 million to raise its stake to 53 per cent. Rex has committed to inject a further US$3 million, subject to the achievement of certain technical and sales milestones.

Rather glaringly, the latest transaction values the drone maker at a significantly higher price even though it is still loss-making. Xer was in the red by US$189,000 for the six months ended June 2022.

Rex explained that it isn&rsquo t &ldquo uncommon&rdquo for companies developing new technologies to make losses at the initial stage. It also said the acquisition would enable it to become a majority shareholder of Xer, which it believed would be accretive to the group. Rex is hopeful that Xer, which sold its first drone through a tender to the Swedish government, will sell more units this year.

The acquisition of Moroxite T, meanwhile, was at a nominal figure of US$0.10. But it also comes with a commitment to invest up to US$4.12 million, subject to certain conditions. This amount includes a &ldquo non-refundable&rdquo capital contribution of US$900,000 to Moroxite T, even if the transaction fails to get shareholders&rsquo nod at an extraordinary general meeting slated to be held by May 30.

Moroxite T, which is developing a platform for targeted cancer therapy, earned nothing for the six months to June 2022.

Granted, Moroxite T&rsquo s solution is a potential game changer for treating tumours if it eventually comes to market. Yet, there is significant risk for Rex&rsquo s shareholders.

It doesn&rsquo t help that both deals are interested party transactions (IPTs).

Rex&rsquo s controlling shareholders are Swedish brothers Hans Lidgren and Karl Lidgren. The latter is also the company&rsquo s executive director. Both Xer and Moroxite T are being acquired by Rex from Lidgren family members.

&ldquo We have no way of knowing what other assets the Lidgren family would like to inject into Rex. It is not at all clear the Xer and Moroxite deals will maximise value for minority shareholders,&rdquo said Nicolas Van Broekhoven, who publishes on Smartkarma.

In a report issued on Tuesday (Mar 21), UOB Kay Hian deemed Rex&rsquo s recent acquisitions, which could total US$8.2 million, a &ldquo concern&rdquo . It raised questions about the company&rsquo s commitment to its oil and gas businesses. It also said the IPTs could lead to governance-related concerns among some investors.

Not all is fine and dandy at Rex&rsquo s mainstay oil business either. Its recently released report card for FY2022 was disappointing. At a time of elevated oil prices, the group swung into the red with a US$1 million net loss, from a profit of US$67 million in the previous year.

The chief culprits for the weak showing were production stoppages in both Norway and Oman. Rex&rsquo s Malaysian ambition to develop oilfields under a pact with the country&rsquo s state-owned Petronas is also uncertain, given rising equipment costs as a result of high oil prices.

These concerns have clearly weighed on the stock. Deemed a favourite pure oil play on the SGX not too long ago, Rex shares have lost more than 35 per cent this year.

Rex may not be done picking up new non-oil related businesses, but it should expect its next moves on the diversification front to draw greater scrutiny. A burst of positive news or better visibility from the group&rsquo s upstream oil activities could remedy the market&rsquo s souring sentiments over the firm&rsquo s prospects. But for now, this too remains in doubt.