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Business 22 May 2019 | 12:00 AM

Velesto posts RM22mil Q1 net loss

PETALING JAYA: Velesto Energy Bhd has posted a net loss of RM22.22mil in its first quarter ended March 31 compared with a net profit of RM5.02mil in the previous corresponding period, mainly due to a net foreign-exchange (forex) gain of RM18.2mil a year earlier that resulted from the early settlement of revolving credit.

Corporate News 04 Jul 2018 | 12:00 AM

Velesto gets Roc Oil job

KUALA LUMPUR: Velesto Malaysian Ventures Sdn Bhd’s (VMV) wholly-owned subsidiary, Velesto Drilling Sdn Bhd, was awarded a US$31.04mil (RM125.7mil) contract by Roc Oil (Sarawak) Sdn Bhd.

Business 17 May 2019 | 12:00 AM

Velesto Energy 'buy', Gadang 'buy', Three-A 'outperform', Pentamaster 'add'

VELESTO ENERGY BHD: OPERATING seven jack-up (JU) rigs in Malaysian waters, Velesto is in a sweet spot, benefitting from a surge in Petronas’ yearly JU rig requirement from six to 10 and 16 to 19 for 2019 to 2021.

Analyst Reports 21 Aug 2018 | 12:05 AM

Velesto to shrug off net loss, to pick up in H2 of FY18

KUALA LUMPUR: Oil and gas services company Velesto underperformed CIMB Equities Research’s expectations with a 1H18 core net loss of RM3.8mil, as a result of a 2Q18 loss on weak utilisation versus its small profit forecast.

Business 23 Apr 2019 | 12:00 AM

Velesto bags RM432.3mil jobs from Petronas Carigali

KUALA LUMPUR: Velesto Energy Bhd’s subsidiary, Velesto Drilling Sdn Bhd, has been awarded four contracts worth a total of RM432.33mil from Petronas Carigali Sdn Bhd for the provision of jack-up drilling rig services.

Business 21 May 2019 | 10:29 AM

Velesto posts net loss of RM22m in Q1 of FY19

KUALA LUMPUR: Velesto Energy Bhd swung into the red with net losses of RM22.22mil in the first quarter ended March 31, 2019 compared with a year ago due to weaker drilling services.

Analyst Reports 18 Jul 2018 | 1:02 AM

Trading ideas: Advancecon, Hiap Teck, Velesto, KPS, MAHB

KUALA LUMPUR: Advancecon Holdings Bhd, Hiap Teck Venture Bhd, Velesto Energy Bhd, Kumpulan Perangsang Selangor Bhd (KPS) and Malaysia Airports Holdings Bhd are among the stocks to watch, according to JF Apex Research.

Business 30 May 2019 | 12:00 AM

Velesto sees stronger earnings in H2

KUALA LUMPUR: Velesto Energy Bhd expects to record stronger earnings in the second half (H2) of this year, leveraging on better utilisation of its jack-up rigs.

Business 23 Apr 2019 | 1:04 AM

Trading ideas: Bina Puri, Gadang, CCM, Velesto, IWC, Ekovest

KUALA LUMPUR: Bina Puri Holdings Bhd, Gadang Holdings Bhd, Chemical Company of Malaysia Bhd (CCM), Velesto Energy Bhd, Iskandar Waterfront City Bhd (IWCity) and Ekovest Bhd are among the stocks to watch on Tuesday, according to JF Apex Research.

Analyst Reports 13 Feb 2019 | 1:03 AM

Trading ideas: Serba Dinamik, Kerjaya Prospek, Econpile, Velesto

KUALA LUMPUR: Serba Dinamik Holdings Bhd, Kerjaya Prospek Group Bhd, Econpile Holdings Bhd and Velesto Energy Bhd are among the stocks to watch on Wednesday following their latest news, according to JF Apex Research.