Is it time to bet on O&G?


Please, bet on IGL.

Dateline 2018-06-18, The Edge:

With the stock market, particularly construction counters, roiled by major policy changes under the new Pakatan Harapan administration, the oil and gas (O&G) sector may be ripe for a relook as crude oil prices have been maintained at fairly decent levels.

Pong Teng Siew, the head of research of Inter-Pacific Securities Sdn Bhd, told The Edge Financial Daily there could be selective gems, especially in the O&G space, which could benefit from stronger oil prices as the worst appears to have passed.

Recent financial results pointed to an improvement, and for some even a turnaround in their performance.
Velesto Energy Bhd is one, posting a net profit of RM5 million for the first quarter ended March 31, 2018, compared to a net loss of RM104.1 million in the corresponding quarter a year ago. In the preceeding quarter ended December, its loss was a whopping RM980.5 million.

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