Rex Intl    Last:0.074    -0.005

The next chapter

Hongkong stock has more liquidity and the prices action fast up and fast down, easier to play than Singapore stock which are more boring

wooncs8870      ( Date: 29-Nov-2022 16:29) Posted: The volume today is rather pathetic and not much interest  wooncs8870      ( Date: 29-Nov-2022 13:58) Posted: Oil prices might trend lower after the situation stablised which may not be good for Re

 

The volume today is rather pathetic and not much interest 

wooncs8870      ( Date: 29-Nov-2022 13:58) Posted: Oil prices might trend lower after the situation stablised which may not be good for Rex boyboy61      ( Date: 29-Nov-2022 13:54) Posted: Not far from it's 52-week low of 21.

 

Oil prices might trend lower after the situation stablised which may not be good for Rex

boyboy61      ( Date: 29-Nov-2022 13:54) Posted: Not far from it's 52-week low of 21.5 wooncs8870      ( Date: 29-Nov-2022 13:37) Posted: Rex no movement for quite a long while, what is happening the stock?

 

Not far from it's 52-week low of 21.5

wooncs8870      ( Date: 29-Nov-2022 13:37) Posted: Rex no movement for quite a long while, what is happening the stock?

 

Rex no movement for quite a long while, what is happening the stock?

 

Brent now at 81+, Rex still at 23 cents.......Good support

 

I think oil price of 90 and above cannot last for long and it is coming to an end.

I hope to see oil stabilise in the 70-80 region.

If Rex can maintain a daily production of 20,000 bpd (or more as new fields come into play), 

as they targetted, we can expect very good propfits.

 

Brent $83 liao

 

Rex management so far quite open to share their operation issues with share holder, hope this is the sincere effort and able to make the share price reflect its good value. Don't end up like hyflux and other bad company. I ever kana Alast, the company keep making good new, then change ownership then suddenly said they are insolvent and passed the company to the "creditor" as $1, my share holding kana suspended till today, and likely not able to gain back my hard-earned money from these crooks.

finjungle      ( Date: 24-Nov-2022 13:20) Posted: There is nithing good or bad. The numbers don' t change. As long as there is accounting profit and cash dividend can be paid. In Singapore there is no law to state that you must make good past losses before you can pay dividend. Just wonder what the management is up to  ?  wehuattogether88      ( Date: 24-Nov-2022 09:30) Posted: I think its good for REX moving forward as past losses will be cancelled and they can declare dividend easily in the coming quarters

 

Where did the buyers suddenly come from....10mil

 

There is nithing good or bad. The numbers don' t change. As long as there is accounting profit and cash dividend can be paid.

In Singapore there is no law to state that you must make good past losses before you can pay dividend.

Just wonder what the management is up to  ? 

wehuattogether88      ( Date: 24-Nov-2022 09:30) Posted: I think its good for REX moving forward as past losses will be cancelled and they can declare dividend easily in the coming quarters. Joelton      ( Date: 24-Nov-2022 09:25) Posted: Rex International plans capital reduction of US$168.1 million Rex International plans to undergo a capital reduction exercise to reduce accumulated losses. Specifically, the company plans to cancel some US$168.1 million in capital, but without reducing the share base.   &ldquo This serves to rationalise the balance sheet of the company to reflect more accurately the value of its underlying assets, and thus the financial position of the company,&rdquo says executive chairman Dan Broströ m on Nov 23.   &ldquo In addition, the company would be in a better position to retain profits and enhance its ability to declare dividends, where appropriate, if the accumulated losses are written off,&rdquo he adds.   Under the proposal, the company&rsquo s share capital would be reduced from US$257.7 million as of Dec 31 2021, to US$89.6 million.   &ldquo The directors will take into consideration the present and future funding needs of the company and its subsidiaries before declaring any dividends,&rdquo says Broströ m.

 

I think its good for REX moving forward as past losses will be cancelled and they can declare dividend easily in the coming quarters.

Joelton      ( Date: 24-Nov-2022 09:25) Posted: Rex International plans capital reduction of US$168.1 million Rex International plans to undergo a capital reduction exercise to reduce accumulated losses. Specifically, the company plans to cancel some US$168.1 million in capital, but without reducing the share base.   &ldquo This serves to rationalise the balance sheet of the company to reflect more accurately the value of its underlying assets, and thus the financial position of the company,&rdquo says executive chairman Dan Broströ m on Nov 23.   &ldquo In addition, the company would be in a better position to retain profits and enhance its ability to declare dividends, where appropriate, if the accumulated losses are written off,&rdquo he adds.   Under the proposal, the company&rsquo s share capital would be reduced from US$257.7 million as of Dec 31 2021, to US$89.6 million.   &ldquo The directors will take into consideration the present and future funding needs of the company and its subsidiaries before declaring any dividends,&rdquo says Broströ m.

 

 

Bought some at 23...CP house 7 and 20......

 

I think nothing bad, in fact could be positive. I googled and got this answer: "The net effect of a capital reduction if you have accumulated losses is to effectively wipe out those losses and put the company back into profit. This means that the directors will be able to declare a dividend." I think in Rex's case, the accumulated losses were from earlier years when it was suffering losses.

 

Hibiscus Petroleum also doing capital reduction to remove past accumulated losses.
The accounts presentation will look better, but no material effect on share value.
Shows the management wants to better present the company and increase the share price of Rex Intl.

 

I read the announcement about capital reduction. Not quite sure what it means, but seems to me cleaning up the book. No change to anything, no money to shareholders. Hope it will not affect the share price.

 

Capital deduction, Omg I cut Liao than come out this type on news Dont know heng orsweay

 

Brent currently 88.61, up 1,16.

 

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