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    HIBISCS   MYL5199OO004

HIBISCUS PETROLEUM BERHAD

(HIBISCS)
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Malaysia's Hibiscus Petroleum buys Repsol assets, enters Vietnam market

06/04/2021 | 08:06am EDT

KUALA LUMPUR (Reuters) - Malaysian oil and gas exploration and production company Hibiscus Petroleum Bhd has acquired Spanish energy major Repsol Exploración, S.A.'s upstream assets in Malaysia and Vietnam for a cash consideration of $212.5 million, it said in a stock exchange filing on Friday.

The acquisition comprises five production-sharing contracts, one of which is in Vietnam, a new market for Hibiscus. It already has producing assets in the UK and Malaysia, and assets in Australia at a development stage, according to its website.

Hibiscus unit Peninsula Hibiscus Sdn Bhd entered a conditional sale and purchase agreement on Tuesday for the entire equity interest in Fortuna International Petroleum Corporation.

It will assume Repsol's role as operator for the assets, which are expected to yield earnings before interest, tax, depreciation and amortisation of $135 million next year, the company said.

"We will be enhancing our geographical footprint and entering Vietnam and thus we look forward to developing a strong working relationship with PetroVietnam, both as a regulator and as our new partner," Managing Director Kenneth Pereira said.

(Reporting by Liz Lee; Editing by Kirsten Donovan)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
HIBISCUS PETROLEUM BERHAD -1.56% 0.63 End-of-day quote.8.62%
INTERNATIONAL PETROLEUM CORPORATION -3.15% 5.85 Delayed Quote.108.19%
LONDON BRENT OIL -0.04% 70.24 Delayed Quote.41.61%
PETROVIETNAM FERTILIZER AND CHEMICALS CORPORATION - JSC 0.18% 27200 End-of-day quote.44.68%
REPSOL S.A. -0.83% 9.346 Delayed Quote.14.30%
WTI -0.07% 68.02 Delayed Quote.48.11%
All news about HIBISCUS PETROLEUM BERHAD
07/15HIBISCUS PETROLEUM : Receives Waiver/Expiry of Pre-Emption Rights for Repsol Acq..
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07/02TRANSACTIONS (CHAPTER 10 OF LISTING : Non related party transactions
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06/27Rex International Defers Completion of Global Settlement Deal with Hibiscus P..
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06/25HIBISCUS PETROLEUM : Others
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06/04TRANSACTIONS (CHAPTER 10 OF LISTING : Non related party transactions
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06/04HIBISCUS PETROLEUM : HIBISCS - Resumption of Trading
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06/04HIBISCUS PETROLEUM : Others
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06/04Malaysia's Hibiscus Petroleum buys Repsol assets, enters Vietnam market
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06/04Hibiscus Petroleum Unit Buys Repsol’s Assets in Malaysia, Vietnam
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06/04HIBISCUS PETROLEUM : Announces the Transformative Acquisition of High-Quality Oi..
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More news
Financials
Sales 2021 695 M 165 M 165 M
Net income 2021 90,8 M 21,5 M 21,5 M
Net Debt 2021 - - -
P/E ratio 2021 12,5x
Yield 2021 1,32%
Capitalization 1 264 M 299 M 300 M
Capi. / Sales 2021 1,82x
Capi. / Sales 2022 1,42x
Nbr of Employees 5
Free-Float 76,1%
Chart HIBISCUS PETROLEUM BERHAD
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Hibiscus Petroleum Berhad Technical Analysis Chart | HIBISCS | MYL5199OO004 | MarketScreener
Technical analysis trends HIBISCUS PETROLEUM BERHAD
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TrendsBearishBullishBullish
Income Statement Evolution
Consensus
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Mean consensus BUY
Number of Analysts 4
Last Close Price 0,63 MYR
Average target price 0,91 MYR
Spread / Average Target 44,4%
EPS Revisions
Managers and Directors
Kenneth Gerard Pereira Managing Director & Executive Director
Chee Yeong Yip Chief Financial Officer
Zainul Rahim bin Mohamad Zain Non-Independent Non-Executive Chairman
Syarifah Aliza bin Syed Azauddin Vice President-Corporate Governance
Roushan Arumugam Independent Non-Executive Director
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