Velesto Energy is trading at MYR 0.23, down -6.12% now after investors continued reassessing weak second-quarter results and the terminated Naga 3 rig sale.
- Second-quarter profit after tax was only RM531,000, down from RM50.44 million, while first-half net profit fell 72% year-on-year.
- The failed rig sale removed expectations of a potential special dividend, weakening valuation support.
- No clear September 1 company announcement was identified; the move appears linked to continued company-specific repricing.