昔日的 EON，今日的 Shell

Harimau

突然发现，今天的 Shell，和几年前的 EON，有一些共同点：
1. 股息同样高达 65 sen
2. EPS 同样高达 200 sen 以上
3. ROE 同样很高
4. PE 同样很低
5. 股价同样在 RM7-9 的范围
6. 同样在市场是领导地位，但是遭同行的激烈竞争

当然，他们也有不同之处：
- 昔日的 EON 跟 Proton 闹经销权问题；而今日的 Shell 与国际油价共舞
- EON 是本土栽培的企业；Shell 是外资投资的企业
- 昔日的 EON 手持的现金比较多，NTA 比较高

hengcw

虎兄，想请教你....为什么 shell 的PE 那么低? 什么因素造成?
如megan 的PE低是因为负债太高...

Harimau

hengcw 于 24-2-2005 12:03 PM  说 :
虎兄，想请教你....为什么 shell 的PE 那么低? 什么因素造成?
如megan 的PE低是因为负债太高...

Shell 去年的 EPS 只有 60 sen 左右，今年因为开始使用新的炼油技术，加上油价高涨，所以 EPS 一年内开了两番多，PE 自然低了。

PE 是要看未来的。今日的股价，过去的 PE 越高，未来的 PE 越底，就是越厉害的千里马。因为只有高度的成长，才能造就过去高未来低的现象。

kimwah

多的不想，单单股息就拿了65仙，太过瘾了。

我去 bursa malaysia 看他的 annual report, 马来文的， 看不懂。。

S.O.S

EON现在好像没有以前这么风光了。
还是我看错？

怪侠一枝梅

shell今日上到RM10了，为什么突然上到酱够力？请问谁知道原因吗？

shuhjiunho

怪侠一枝梅 于 24-6-2005 05:48 PM  说 :
shell今日上到RM10了，为什么突然上到酱够力？请问谁知道原因吗？

油价一直创新高。

怪侠一枝梅

shuhjiunho 于 24-6-2005 05:56 PM  说 :


油价一直创新高。

先谢谢何老板...原谅我再问：油价创新高为什么会导致shell的股价起？剧我所知：油价创新高会令公司成本提高，而市场上的油价是固定了的，政府的subsidy也是固定了的，那么油价创新高为什么还能令股价起？
油价提高，对公司的盈利有什么影响？
不好意思。。。。

MY1

怪侠一枝梅 于 24-6-2005 06:23 PM  说 :

先谢谢何老板...原谅我再问：油价创新高为什么会导致shell的股价起？剧我所知：油价创新高会令公司成本提高，而市场上的油价是固定了的，政府的subsidy也是固定了的，那么油价创新高为什么还能令股价起？
油价 ...

这个SHELL是开采石油的，和SHELL油站的经营公司没有关系。成本也不会提高。只不过以前卖USD２５一桶而现在卖USD５０。

shuhjiunho

怪侠一枝梅 于 24-6-2005 06:23 PM  说 :

先谢谢何老板...原谅我再问：油价创新高为什么会导致shell的股价起？剧我所知：油价创新高会令公司成本提高，而市场上的油价是固定了的，政府的subsidy也是固定了的，那么油价创新高为什么还能令股价起？
油价 ...

MY1说的对。
Shell上市的集团不包括国供油的油站。公司以开采油田为主。
既然以开采的方式，那么开采成本似乎是固定的，以同样的成本，确能够卖到更高的价格，盈利就会增加。国内Shell的业绩，和我们股市投资的Shell没有任何影响。

很有兴趣的是，Petdag上市的却是国内的油站。然后开采油田的Petronas却不纳入在上市集团中。你说有趣不有趣？呵呵！

guazing

shuhjiunho 于 24-6-2005 08:05 PM  说 :


MY1说的对。
Shell上市的集团不包括国供油的油站。公司以开采油田为主。
既然以开采的方式，那么开采成本似乎是固定的，以同样的成本，确能够卖到更高的价格，盈利就会增加。国内Shell的业绩，和我们股市投 ...

既然如此，星期一我就买１０００ 作投资吧！

不是开玩笑，讲真的！

怪侠一枝梅

shuhjiunho 于 24-6-2005 09:05 PM  说 :


MY1说的对。
Shell上市的集团不包括国供油的油站。公司以开采油田为主。
既然以开采的方式，那么开采成本似乎是固定的，以同样的成本，确能够卖到更高的价格，盈利就会增加。国内Shell的业绩，和我们股市投 ...

谢谢何老板和MY1兄，原来是这样。。
＂Petdag上市的却是国内的油站。然后开采油田的Petronas却不纳入在上市集团中。。＂
何兄，请问为什么会这样？

糊涂

MY1 于 24-6-2005 08:51 PM  说 :
这个SHELL是开采石油的，和SHELL油站的经营公司没有关系。成本也不会提高。只不过以前卖USD２５一桶而现在卖USD５０。

这与我了解的Shell有点出入。
Shell年报中有详细的介绍这间在“大马上市的Shell”主要业务，
若没记错的话，它的主要盈利来源是提炼石油而非开采石油，
它的主要原料才是这个卖USD50元的“原油”，其中的一部分的原油还是得从中东入口呢。


P/s :
投机两个月就拿了它两次的股息，感觉还蛮不错滴。 嘻！
不过它接下来的盈利没有税务回扣护航，下季度的业绩应该会比第一季逊色许多。
所以，只要它再涨一点点，我就会选择出货了。 -> 见好就收嘛。。。

怪侠一枝梅

糊涂 于 25-6-2005 07:54 AM  说 :


这与我了解的Shell有点出入。
Shell年报中有详细的介绍这间在“大马上市的Shell”主要业务，
若没记错的话，它的主要盈利来源是提炼石油而非开采石油，
它的主要原料才是这个[b ...

糊涂兄，我是4月15日买的，可是到现在还没拿到任何的股息，不懂有没有问题？
糊涂兄打算什么价钱出货？如你不介意告诉小弟的话。。

charleschin

http://shell.com.my


Shell in Malaysia

Shell (in Malaysia) comprises a group of wholly-owned, joint-venture and subsidiary companies engaged in the full spectrum of the petroleum, gas and chemical industry. In line with its business objectives, Shell Malaysia have active interests in the following areas:-



Shell Exploration and Production (EP)
Shell Oil Products (OP)
Shell Gas & Power (GP)
Shell IT International (SITI)




Shell Exploration and Production (EP)

Shell has a long history in Malaysia having been in this region for more than 100 years.  We aspire to be the top performer of first choice and uphold honesty, integrity, and respect for people as core values, supported by professionalism, trust, pride in Shell and openness.  There is more to Shell than a famous brand.  In Malaysia, the company has a more than a century old history, which began when it first traded at local and regional ports in the early 1890s.



Shell's vision is to be "THE TOP PERFORMER OF FIRST CHOICE". In line with its business objectives, Shell Malaysia's key operations are focused in three main sectors: namely, Exploration and Production (EP), Oil Products (OP) which comprises Manufacturing, Marketing and Distribution, and Gas and Power.



Shell Malaysia Exploration and Production business has concentrated on the efficient development and extraction of crude oil and - increasingly - natural gas offshore Sarawak and Sabah.  Following the introduction of the Petroleum Development Act (1974), which places the custody of the nation's hydrocarbon resources with the national petroleum corporation, PETRONAS, Shell's EP sector conducted its business through Production Sharing Contracts (PSCs).



Shell Malaysia EP operates as production sharing contractors to PETRONAS, the national petroleum corporation; in some cases, on a joint-venture basis with PETRONAS Carigali (the EP arm of PETRONAS).



Shell Malaysia’s business is entering an era where it operates under a rapidly changing and increasingly complex & competitive environment.  Shell's recent venture into the relatively more challenging - and costly - deepwater exploration and production in Sabah and Sarawak, is an affirmation of its long-term stance in the upstream oil and gas industry.



In addition, its commitment to the pursuit of operational excellence has seen the application of various state-of-the-art, cost efficient technologies in the field. Examples are the application of the region's first multilateral drilling and smart-field technology. In the continuous search for operational excellence, its E&P has successfully implemented many innovative technologies to boost production and drive down operating costs, secured a new production sharing contract (PSC) offshore Sarawak, bringing the total number of PSCs to 15.  Shell Secured Block PM303, offshore Terengganu, which marked Shell's first entry into exploration activities offshore Peninsular Malaysia.



We take pride in our environmental management leadership in the oil and gas industry as many of our environmental management systems are self-initiated and driven; and in instances, even surpass local regulations.  The first oil and gas company to obtain the ISO 14001 certification for sound environmental management of our exploration and production operations.



Shell Oil Products (OP)

Our main activity is in the manufacturing, trading, supply, distribution, marketing and selling of:



Main Fuels : gasoline, aviation fuel, diesel, fueloil
Specialities : LPG, bitumen, lubricants, others
Components and Feedstocks




But we are also increasingly involved in



provision of services and solutions
convenience retailing




And we are a global player



with 50 refineries worldwide
customers in over 125 countries
assets worth US$20 billion
annual sales over US$100 billion




Our business structure consists of 7 classes of business...



LPG - marketing and selling of bulk and domestic LPG
Marine - marketing and selling of fuels and lubes to marine customers
Aviation - marketing of aviation fuels and lubes to airlines
Retail - retailing of fuels, lubes and convenience goods through retail stations
Commercial - marketing and selling of fuels, lubes, bitumen, services and solutions to commercial customers
Trading - trading of crude, fuels, components and feedstocks
MSD - manufacturing, supply and distribution of fuels, components and feedstocks




These businesses are organisations that are either regional or global in nature. For example, Shell Malaysia Oil Products (SM-OP) is part of the Shell Oil Products East Zone organisation that stretches from Middle East to Australia.



In Malaysia we have over 825 retail stations throughout the country. In the commercial business sector we serve over half a million retail customers a day and more than 4000 industrial and commercial customers.



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Shell Gas & Power (GP)

Gas and Power is the growth engine for the Shell group - monetising equity gas, developing new markets, and breaking new ground while capitalising on Shell's technology in Liquid Natural Gas (LNG), Gas-to-Liquids (GtL) and Coal Gasification.



One of the 5 core business in Shell Group; it has strong links with Exploration and Production business and also actively exploit synergies with Oil Products, Chemicals and Renewables.

This business sector comprises local operating companies and offices in several countries whose activities are brought together by Shell International Gas in London.



Our business structure consists of 6 business segments
1) LNG
2) GtL
3) Power Generation
4) Coal Gasification
5) Market Access (terminals, transmission & distribution)
6) Marketing & Trading (power, pipeline gas, LNG trading & shipping)



In Malaysia, the established businesses are LNG and GtL. Shell has equity in each of the 2 LNG plants in Bintulu. The LNG produced is shipped to Japan, Korea and Taiwan. In addition to these, new markets are being targeted for MLNG Tiga production. The Shell Middle Distillate Synthesis (SMDS) plant in Bintulu is the world's first commercial GtL plant which converts natural gas into 470,000 tonnes of high quality liquid fuels, specialty  chemicals and waxes per annum. Shell holds 72% equity in this state-of-the-art plant which is the forerunner of other larger size GtL projects being proposed in various parts of the world.



As both LNG and GtL are international businesses, experienced Malaysian staff stand an excellent chance of being assigned to other Shell locations world-wide. Job skills cover a wide spectrum from business development, project management and operations to disciplines such as finance and marketing.



Shell IT International (SITI)

In January 1998, the IT and business services practices of several Royal Dutch/Shell Group companies were combined to form a separate legal entity with the responsibility to deliver maximum value brought by IT to the Shell businesses.  Now called Shell Information Technology International (SITI), this legal entity became the primary IT service provider for the Royal Dutch/Shell Group.



SITI in Malaysia is an MSC-status company located in Cyberjaya. Having 1000 staff in its employ, it showcases a culturally-diversified and culturally-sensitive work environment of 13 nationalities.



SITI is one of Shell Group's three global IT centres, providing comprehensive desktop support services to Shell companies in over 145 countries.  It is also one of Shell's three Centres of Excellence for eHosting which will initially provide infrastructure and application support for SAP and eBusiness applications.  The other 2 centres are located in Houston and Manchester.  Collectively, these services involve the support of more than 1,500 servers and 100,000 desktops across the Shell Group worldwide.



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Shell Global Solutions

Over the last century, Shell has built up a vast body of knowledge, skills and experience.



Through our Global Solutions network of technology companies, we share our expertise with customers in a wide range of industries - from Automotive Manufacture to Motorsport; and from Chemical Production to Refining.



With over 3000 professionals worldwide, Shell Global Solutions offers a comprehensive range of technical expertise and resources to work with customers to maintain their competitive edge, optimise plant and process performance, formulate and develop new products and manage operational safety and environmental challenges more effectively.



Companies choose to work with us for all sorts of reasons. Some want a fresh set of eyes to look at the barriers between them and their goals. Others want to compare their performance against the rest of their industry, using our unique and extensive databases built up over years of operational experience. Companies often call on us for advice and support to become 'best in class'. Whatever they need from us, our customers are assured of quality services backed by ISO9000 certification.



Asia is poised to experience the largest increase in energy demand of any region in the world over the next 20 years. With a growing customer base, Shell Global Solutions (Malaysia) Sdn. Bhd has been established as an Asia Pacific headquarters in the Petronas Twin Towers to further strengthen its working relationship with customers by ensuring an efficient and highly effective service delivery, and to be the flagship consultancy operation in the region.

糊涂

怪侠一枝梅 于 25-6-2005 08:57 AM  说 :

糊涂兄，我是4月15日买的，可是到现在还没拿到任何的股息，不懂有没有问题？
糊涂兄打算什么价钱出货？如你不介意告诉小弟的话。。

嗯，那你就必须向你的股票经纪查询了，查查看你的CDS Acc的地址可否出了什么差错? 我在三四个星期前就收到35分的终期股息，而10分的终期股息则在这几天里才收到。

我没有设定出货的价钱，只要再出现任何投机的机会我就会把它抛售了。

糊涂

charleschin,
在大马上市的Shell是SHELL REFINING COMPANY (FEDERATION OF MALAYA) BERHAD，它的主要业务如下：
Shell Refining Co (FOM) Berhad(SRC). The Company's principal activities are the refining and manufacturing of petroleum products. The Company's main products include motor gasoline, gas oil (diesel), jet fuel, liquefied petroleum gas, light cycle oil, propylene and tops. The Company operates in Malaysia.

开采石油业务的是Shell Malaysia，而这家在大马交易所上市的Shell可半点也沾不上它的光耶。。

[ Last edited by 糊涂 on 26-6-2005 at 12:27 PM ]

guazing

糊涂 于 26-6-2005 11:25 AM  说 :
charleschin,
在大马上市的Shell是SHELL REFINING COMPANY (FEDERATION OF MALAYA) BERHAD，它的主要业务如下：
Shell Refining Co (FOM) Berhad(SRC). The Company's principal acti ...

谢谢糊涂坛主说明，
这样我要再考虑考虑才买进罗！
不能开玩笑，不能开玩笑！

shuhjiunho

怪侠一枝梅 于 25-6-2005 12:59 AM  说 :

谢谢何老板和MY1兄，原来是这样。。
＂Petdag上市的却是国内的油站。然后开采油田的Petronas却不纳入在上市集团中。。＂
何兄，请问为什么会这样？

对Shell的功课还不是做得很多。怕会说错。
刚刚查了一下，Shell是以提炼生意为主，开采不包括在内。糊涂说得没错。
至于Petronas为什么会这样做。。。我不敢乱乱说，得罪人不好。。。要知道，真正赚大钱的公司，是不上市的。