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the ESOS and then resolution 9 that they want to propose on AGM appears to carry an elevated level of risk, what's their plan now? taking greater control at minimal cost?
oh, you jump the gun too quick. Just to clarify, I’m not forecasting long-term decline. My comments are quarter-specific and grounded in Bursa announcements, the board action, and current OSV owners operating realities.
My point is straightforward: without recovery from the recent major asset loss, that asset is well-known as one of their major income. next Q results could be impacted. that’s a near-term risk, not a long-term judgment. cheers.
according to the news, they lost a major asset last year, and if they don't get it back, next quarter's gonna be rough. Plus, a lot of OSV owners are dealing with old fleets, which is costing them a ton. It's not about who owns it, if there's no clear direction, it'll raise doubts, moreover with the recent pump and dump by one of their Board, the small fish will trap on top. There is no technical pattern to be applied here on the candlestick. It's more on Sentiment & Manipulative.
It's gonna be another losing quarter, most of the OSV owners are now facing dilemma of ageing asset, and reaching the limitation, leading them for major repairs. The oil company continues to face uncertainties regarding its strategic direction esp in Borneo, which indirectly affecting the shipowner even to the local players.
The company No 1 professional history (just google it), particularly concerning "pump and dump" schemes, need a thorough investigation. His public statements regarding the Kuala Baram asset also require scrutiny. Same with his last company, with a giant backing him up from the shadow.
their Q4 2024 and Q1 2025 will be poor, this would be the trend for other OSV player as well. The long-term project from the Petronas/PAC will kick off in Q2 2025 for most of offshore vessel operators.
