so what is the correlation in your view in regard to POO?
believe it or not, it has absolutely NOTHING to do with the margin that CTX makes!
the whole dilemma with margins is just the price CTX pays for Singapore oil and that is totally determined by cross rates in the $.
add to that, the local refinery also plays a small part in affecting the margin.
ps- the main problem with CTX is that VEA has emerged as a public float which is diluting super fund interest. if VEA did not have the massive float, CTX would be at least $33.
you must remember that they are going to increase divvy and probably do an off-market share buyback with a massive FF divvy component as 'hinted' in the latest notice, which is very attractive to me as i ponder Buying In..
ps- also, a major problem is fuel volumes sold is constantly declining. who the hell knows why, but at least they are neutralizing the effect with the extra sales of premium grades, which gives them much more margin.
also, the retail tie-up with Foodary and WOW seems to be progressing OK!
cheers crazypunter
so what is the correlation in your view in regard to POO?...
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