HLIB Tells Investors to Buy Velesto on Weakness

Hong Leong Investment Bank (HLIB) has advocated investors buy Velesto Energy Bhd (KL:VELESTO) on weakness, in anticipation of strong earnings in the coming quarters amid persistent jack-up (JU) rig crunch in Southeast Asia.

The Edge Markets20:47 ET

Local Oil Services Industry Gains Momentum Amid Rising Petronas Capex

Kenanga Investment Bank (Kenanga), in its Oil & Gas sector update on July 2, 2024 (Tuesday), affirmed an OVERWEIGHT rating, citing favourable conditions in mid-stream and upstream opportunities.

Business TodayJul 1 22:11 ET

HLIB Stays Overweight on Oil and Gas Sector, Names Dialog, Armada, Velesto as Top Picks

Hong Leong Investment Bank (HLIB) Research has maintained its "overweight" rating on the oil and gas sector with unchanged average Brent oil price forecasts at US$85 (RM400.96) per barrel (bbl) for 2024/2025.

The Edge MarketsJul 1 21:24 ET

Investors in Velesto Energy Berhad (KLSE:VELESTO) Have Seen Impressive Returns of 113% Over the Past Three Years

Yahoo FinanceMay 27 19:40 ET

Velesto Energy Profit Soars in Q1

Velesto Energy (KLSE:VELESTO) posted a profit attributable to owners of 46.8 million ringgit in the first quarter, much higher than 14.2 million ringgit a year earlier. Diluted earnings per share went

MT NewswiresMay 24 04:26 ET

Velesto's 1Q Earnings More Than Triple on Higher Rig Utilisation, Charter Rates

Velesto Energy Bhd's (KL:VELESTO) first quarter net profit more than tripled year-on-year, driven by higher utilisation and average daily charter rates for jack-up rigs.

The Edge MarketsMay 23 07:39 ET