May 30, 2017 10:02 AM ET

Oil, Gas and Consumable Fuels

Company Overview of Hibiscus Petroleum Berhad

Company Overview

Hibiscus Petroleum Berhad explores, develops, and produces oil and gas. It operates through Investment Holding and Group Activities, Lime, 3D Oil, VIC/L31 & VIC/P57, Anasuria, and HIREX segments. The company holds interests in the Anasuria Cluster producing fields located in the Central North Sea, United Kingdom; and operates VIC/P57 exploration permit and VIC/L31 production license in the Australia, as well as invests in 3D oil. It also invests in and operates exploration assets located in the Middle East, Norway, and Malaysia. In addition, the company provides project management, technical, and other services related to the oil and gas exploration and production industry. Hibiscus Petroleu...

Syed Kechik Foundation Building

2nd Floor

Jalan Kapas

Bangsar

Kuala Lumpur,  59100

Malaysia

Founded in 2007

Phone:

60 3 2092 1300

Fax:

60 3 2092 1301

Key Executives for Hibiscus Petroleum Berhad

Hibiscus Petroleum Berhad does not have any Key Executives recorded.

Hibiscus Petroleum Berhad Key Developments

Hibiscus Petroleum Berhad Announces Resignation of Vincent Jacob Lee Nam Sang as Chief Financial Officer

Hibiscus Petroleum Berhad announced resignation of MR. VINCENT JACOB LEE NAM SANG as Chief Financial Officer, to pursue personal career objectives. The date of change is 31 March 2017.

Hibiscus Petroleum Berhad Reports Un-Audited Consolidated Earnings Results for the Quarter and Year to Date Ended December 31, 2016

Hibiscus Petroleum Berhad reported un-audited consolidated earnings results for the quarter and year to date ended December 31, 2016. For the quarter, the company reported revenue of MYR 62,821,000 compared to MYR 955,000 a year ago. Profit before taxation was MYR 10,032,000 compared to loss before taxation of MYR 164,157,000 a year ago. Profit after taxation attributable to owners of the company was MYR 10,675,000 or 0.76 sen per basic and diluted share compared to loss after taxation attributable to owners of the company of MYR 164,166,000 or 16.32 sen per basic and diluted share for the last year. For the year to date, the company reported revenue of MYR 117,566,000 compared to MYR 1,200,000 a year ago. Profit before taxation was MYR 17,513,000 compared to loss before taxation of MYR 159,398,000 a year ago. Profit after taxation attributable to owners of the company was MYR 90,958,000 or 6.54 sen per basic and diluted share compared to loss after taxation attributable to owners of the company of MYR 159,417,000 or 16.18 sen per basic and diluted share a year ago. Net assets per share were MYR 0.52. Net cash generated from operating activities was MYR 37,094,000. Purchase of equipment was MYR 9,000. Acquisition of intangible assets MYR 98,000. The profit before taxation in the current period is primarily due to the sale of oil and gas products from the Anasuria Cluster, which generated revenue and gross profit of MYR 115.5 million and MYR 73.7 million respectively.

Hibiscus Petroleum Is Not Seeking Acquisitions

Hibiscus Petroleum Berhad (KLSE:HIBISCS) is not seeking acquisitions. Chairman, Zainul Rahim Mohd Zain said, "We will look at opportunities as they come. But we are not going to hunt for new assets as we did before, because the idea now is to consolidate our current assets and maximize its value."

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
October 12, 2016
2011 North Sabah Enhanced Oil Recovery Production Sharing Contract
 

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