Velesto's Sale of Workover Services Unit Looks Positive -- Market Talk

Dow Jones

2025/12/30

0209 GMT - Velesto Energy's plan to sell its unit, Velesto Workover, to Enviros Survey & Consultancy for 16.5 million ringgit looks strategically sensible and operationally positive, TA Securities analyst Lee Yun Leon says in a note. The disposal of the noncore, unprofitable unit removes an earnings drag while allowing management to reallocate resources toward higher-return activities, he says. Proceeds will be used mainly for working capital, and the transaction is expected to generate a small gain of about 0.4 million ringgit, he adds. TA Securities maintains a hold rating on Velesto and its target price of MYR0.26. Shares are 1.8% higher at MYR0.28. (yingxian.wong@wsj.com)

(END) Dow Jones Newswires

December 29, 2025 21:09 ET (02:09 GMT)

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The disposal of the noncore, unprofitable unit removes an earnings drag while allowing management to reallocate resources toward higher-return activities, he says. Proceeds will be used mainly for working capital, and the transaction is expected to generate a small gain of about 0.4 million ringgit, he adds. TA Securities maintains a hold rating on Velesto and its target price of MYR0.26. Shares are 1.8% higher at MYR0.28. 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The disposal of the noncore, unprofitable unit removes an earnings drag while allowing management to reallocate resources toward higher-return activities, he says. Proceeds will be used mainly for working capital, and the transaction is expected to generate a small gain of about 0.4 million ringgit, he adds. TA Securities maintains a hold rating on Velesto and its target price of MYR0.26. Shares are 1.8% higher at MYR0.28. (yingxian.wong@wsj.com) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  December 29, 2025 21:09 ET (02:09 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK6045","symbol_name":"建築與工程","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2595757624","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2595757624","pubTimestamp":1767060540,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0209 GMT - Velesto Energy's plan to sell its unit, Velesto Workover, to Enviros Survey & Consultancy for 16.5 million ringgit looks strategically sensible and operationally positive, TA Securities analyst Lee Yun Leon says in a note. 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The disposal of the noncore, unprofitable unit removes an earnings drag while allowing management to reallocate resources toward higher-return activities, he says. Proceeds will be used mainly for working capital, and the transaction is expected to generate a small gain of about 0.4 million ringgit, he adds. TA Securities maintains a hold rating on Velesto and its target price of MYR0.26. Shares are 1.8% higher at MYR0.28. (yingxian.wong@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  December 29, 2025 21:09 ET (02:09 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}