Trading Forex in Malaysia 2020 - Our Complete Guide

Have any of you radically changed your political views since childhood?

I grew up in a typical conservative middle-class household in the 90s. Like most conservative families, I grew up hearing about how horrible Sheikh Mujib became after 71, and how people were so relieved after he was murdered in 1975. This is something I heard from everyone, relatives, friends, etc. I, too, used to hate Sheikh Mujib. I thought he was a dictator, pro-India, anti-Islam, traitor, just wanted to be Pakistan's PM, etc.
Of course, I was a teenager in the 2001-2006 period when the BNP-Jamat government rammed the entire country into the ground. There were hartals and oborodhs all the time, electricity used to go off every other hour, terrorist would blast a bomb every other week while the government would term it all as a "conspiracy", there was no development and we would stagger from one crisis to another. Mullahs would carry out misils all the time calling for Shariah law, and attacking Ahmadiyya houses. Khaleda Zia had zero control over the country. She just didn't have any leadership qualities. I felt that I wanted to leave this shithole as soon as I got the first opportunity.
The BNP regime was interrupted by the caretaker government. Full of "highly educated" bureaucrats, I naturally supported them. But their "Minus 2" plan went nowhere, and they weren't being able to handle the country either. Fakhruddin Ahmed and Moinuddin Ahmed just didn't' have any leadership qualities either. Facing an unfavourable situation, they at least had the decency to organize elections and arrange a respectable exit for themselves.
Then we the Awami League get power in 2008. I still hated them back then. Their first term, 2009-2013 was full of turmoil, with the "Shahbag movement" and the "ICT Tribunal" and the hanging of the senior Jamat leaders. But the country gradually started getting into shape. If you look at the economic indicators we started taking off in 2010. By 2014 political stability was re-established. This was all possible due to Sheikh Hasina's leadership qualities, which others lack. The Awami League's electricity reforms paid off, and loadshedding is largely over in Dhaka. Awami League drastically reduced prices of broadband internet, and we got access to bufferless YouTube for the first time. BNP was jumping up and down screaming that government was looting crores of taka under the name of quick rental power plants. But our forex reserves zoomed from 10 billion to 30 billion. New roads were being built everywhere and Bangladesh's Debt-to-GDP ratio remains one of the lowest in South Asia, and in the world.
So I was really forced to re-evaluate my hatred of Awami League, Sheik Hasina and Sheikh Mujib. When I looked back at the life of Sheikh Mujib, I found that he dedicated his life to the people of East Bengal. He was a part of the Muslim League to get independence for us, and after witnessing the bloody religious riots changed his worldview to secular democratic socialism. That's something very admirable! That's not anti-Islam at all! And then he joined forces with India to free East Pakistan. That's not treason, his loyalty was to the people of East Pakistan. He single-handedly united 60 million very backward and uneducated people and led them to independence. After that, he presided over the creation of a Constitution that was secular, in a overwhelmingly rural, uneducated Muslim country. He could easily have given in to Saudi Arabia in return for oil, like so many Muslim countries, but did not compromise. He could have chosen to recognize Israel, and have gotten instant recognition and support from the West, but stayed firm to his principles of loyalty to the Palestinian people. All of his actions point towards the qualities of a great leader. Sheikh Mujib did not allow the Indians to stay in Bangladesh and ensured their withdrawal.
Just have a look at countries around the world today. Look at Syria, where they have a bastard dictator who murders his own people, and an opposition full of traitors and terrorists. Look at Libya, where the people have no leadership. Look at India, where they are under the thrall of a fascist religious dictator Modi. Sudan is only establishing secularism in their constitution in 2020, while Bangladesh did it 50 years ago!!! Look at Iran, where people are all trying to escape their religious government. Look at Pakistan with their blasphemy laws and their mullahs trying to oppose any law against child marriage! We bypassed all of this thanks to Sheikh Mujib and his foresight!!!
The closest leader who resembles Sheikh Mujib would be Mustafa Kemal Ataturk. While Ataturk was objectively greater than Sheikh Mujib, since he was an accomplished military leader who led the actual Turkish War of Independence himself, Ataturk also modernized a backward, rural, uneducated nation overnight into a modern, secular and democratic state. Of course, Ataturk has many haters. They also accuse him of being a dictator. But his achievements greatly overshadow any sacrifices that may have been required to achieve the goal of a modern independent Turkey. The same goes for Shiekh Mujib. Whatever are his faults, Rakkhi Bahini, BAKSAL, I am willing to forgive him for his leadership during our independence and his creation of a secular and democratic Bangladesh.
Today we are blessed to have his daughter Sheikh Hasina in power. Lots of you might call her "fascist". That's such a lazy and pathetic position to take. Trust me, if there was any other leader other than SH as PM the government would be just as "fascist" as her government is now. Its so easy to sit back behind a PC and cry "fascist fascist fascist". YOU try organizing a political party in a nation of 165 million people, and then successfully leading that country on the path towards economic development. Without a doubt, if those crying 'fascist fascist' were put into power as PM they would be 100 times more fascistic than Sheikh Hasina is right now.
Without a doubt, human rights abuses occur under her. Abrar was beaten to death by BCL thugs (which was fully supported by the 'humanist' Taslima Nasrin btw). But those BCL thugs are in jail now. Major Sinha Rashed Khan was murdered by OC Liakat and Prodip. Both of them are in jail. If SH was as fascist as people claim, they would be out in the streets, like the Hindu thugs who carried out the Delhi riots in February, or the terrorist Mullahs in Pakistan who forcibly convert and kidnap Christian girls.
So, from what I have seen, Awami League is an organic political party of the people of East Bengal. They have deeper roots in the hearts of the people than any other political movement. And they should be lauded because they have established secularism and inclusive nationalism where there is space for Bangladeshis of all religions and ethnicities in a united Bangladesh. While sometimes they have acted in a fascist manner, it is excusable because there is no other alternative in Bangladesh who can win elections and be more liberal than BAL. Instead of pathetically criticizing them, those who want the best for Bangladesh should work with them in order to reduce the human rights abuses which do still occur. BAL will be remembered in history like the PAP of Singapore, or the UMNO of Malaysia, or the Chinese Communist Party; all of whom were authoritarian, who were accused of being fascist, but ultimately ensured the evolution of their societies from backward uneducated agricultural societies to modern, secular democratic industrial ones.
submitted by bgd_guy to bangladesh [link] [comments]

Hibiscus Petroleum Berhad (5199.KL)


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Download PDF of this article here: https://docdro.id/6eLgUPo
In light of the recent fall in oil prices due to the Saudi-Russian dispute and dampening demand for oil due to the lockdowns implemented globally, O&G stocks have taken a severe beating, falling approximately 50% from their highs at the beginning of the year. Not spared from this onslaught is Hibiscus Petroleum Berhad (Hibiscus), a listed oil and gas (O&G) exploration and production (E&P) company.
Why invest in O&G stocks in this particularly uncertain period? For one, valuations of these stocks have fallen to multi-year lows, bringing the potential ROI on these stocks to attractive levels. Oil prices are cyclical, and are bound to return to the mean given a sufficiently long time horizon. The trick is to find those companies who can survive through this downturn and emerge into “normal” profitability once oil prices rebound.
In this article, I will explore the upsides and downsides of investing in Hibiscus. I will do my best to cater this report to newcomers to the O&G industry – rather than address exclusively experts and veterans of the O&G sector. As an equity analyst, I aim to provide a view on the company primarily, and will generally refrain from providing macro views on oil or opinions about secular trends of the sector. I hope you enjoy reading it!
Stock code: 5199.KL
Stock name: Hibiscus Petroleum Berhad
Financial information and financial reports: https://www.malaysiastock.biz/Corporate-Infomation.aspx?securityCode=5199
Company website: https://www.hibiscuspetroleum.com/

Company Snapshot

Hibiscus Petroleum Berhad (5199.KL) is an oil and gas (O&G) upstream exploration and production (E&P) company located in Malaysia. As an E&P company, their business can be basically described as:
· looking for oil,
· drawing it out of the ground, and
· selling it on global oil markets.
This means Hibiscus’s profits are particularly exposed to fluctuating oil prices. With oil prices falling to sub-$30 from about $60 at the beginning of the year, Hibiscus’s stock price has also fallen by about 50% YTD – from around RM 1.00 to RM 0.45 (as of 5 April 2020).
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While the company is domiciled in Malaysia, its two main oil producing fields are located in both Malaysia and the UK. The Malaysian oil field is commonly referred to as the North Sabah field, while the UK oil field is commonly referred to as the Anasuria oil field. Hibiscus has licenses to other oil fields in different parts of the world, notably the Marigold/Sunflower oil fields in the UK and the VIC cluster in Australia, but its revenues and profits mainly stem from the former two oil producing fields.
Given that it’s a small player and has only two primary producing oil fields, it’s not surprising that Hibiscus sells its oil to a concentrated pool of customers, with 2 of them representing 80% of its revenues (i.e. Petronas and BP). Fortunately, both these customers are oil supermajors, and are unlikely to default on their obligations despite low oil prices.
At RM 0.45 per share, the market capitalization is RM 714.7m and it has a trailing PE ratio of about 5x. It doesn’t carry any debt, and it hasn’t paid a dividend in its listing history. The MD, Mr. Kenneth Gerard Pereira, owns about 10% of the company’s outstanding shares.

Reserves (Total recoverable oil) & Production (bbl/day)

To begin analyzing the company, it’s necessary to understand a little of the industry jargon. We’ll start with Reserves and Production.
In general, there are three types of categories for a company’s recoverable oil volumes – Reserves, Contingent Resources and Prospective Resources. Reserves are those oil fields which are “commercial”, which is defined as below:
As defined by the SPE PRMS, Reserves are “… quantities of petroleum anticipated to be commercially recoverable by application of development projects to known accumulations from a given date forward under defined conditions.” Therefore, Reserves must be discovered (by drilling, recoverable (with current technology), remaining in the subsurface (at the effective date of the evaluation) and “commercial” based on the development project proposed.)
Note that Reserves are associated with development projects. To be considered as “commercial”, there must be a firm intention to proceed with the project in a reasonable time frame (typically 5 years, and such intention must be based upon all of the following criteria:)
- A reasonable assessment of the future economics of the development project meeting defined investment and operating criteria; - A reasonable expectation that there will be a market for all or at least the expected sales quantities of production required to justify development; - Evidence that the necessary production and transportation facilities are available or can be made available; and - Evidence that legal, contractual, environmental and other social and economic concerns will allow for the actual implementation of the recovery project being evaluated.
Contingent Resources and Prospective Resources are further defined as below:
- Contingent Resources: potentially recoverable volumes associated with a development plan that targets discovered volumes but is not (yet commercial (as defined above); and) - Prospective Resources: potentially recoverable volumes associated with a development plan that targets as yet undiscovered volumes.
In the industry lingo, we generally refer to Reserves as ‘P’ and Contingent Resources as ‘C’. These ‘P’ and ‘C’ resources can be further categorized into 1P/2P/3P resources and 1C/2C/3C resources, each referring to a low/medium/high estimate of the company’s potential recoverable oil volumes:
- Low/1C/1P estimate: there should be reasonable certainty that volumes actually recovered will equal or exceed the estimate; - Best/2C/2P estimate: there should be an equal likelihood of the actual volumes of petroleum being larger or smaller than the estimate; and - High/3C/3P estimate: there is a low probability that the estimate will be exceeded.
Hence in the E&P industry, it is easy to see why most investors and analysts refer to the 2P estimate as the best estimate for a company’s actual recoverable oil volumes. This is because 2P reserves (‘2P’ referring to ‘Proved and Probable’) are a middle estimate of the recoverable oil volumes legally recognized as “commercial”.
However, there’s nothing stopping you from including 2C resources (riskier) or utilizing 1P resources (conservative) as your estimate for total recoverable oil volumes, depending on your risk appetite. In this instance, the company has provided a snapshot of its 2P and 2C resources in its analyst presentation:
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Basically, what the company is saying here is that by 2021, it will have classified as 2P reserves at least 23.7 million bbl from its Anasuria field and 20.5 million bbl from its North Sabah field – for total 2P reserves of 44.2 million bbl (we are ignoring the Australian VIC cluster as it is only estimated to reach first oil by 2022).
Furthermore, the company is stating that they have discovered (but not yet legally classified as “commercial”) a further 71 million bbl of oil from both the Anasuria and North Sabah fields, as well as the Marigold/Sunflower fields. If we include these 2C resources, the total potential recoverable oil volumes could exceed 100 million bbl.
In this report, we shall explore all valuation scenarios giving consideration to both 2P and 2C resources.
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The company further targets a 2021 production rate of 20,000 bbl (LTM: 8,000 bbl), which includes 5,000 bbl from its Anasuria field (LTM: 2,500 bbl) and 7,000 bbl from its North Sabah field (LTM: 5,300 bbl).
This is a substantial increase in forecasted production from both existing and prospective oil fields. If it materializes, annual production rate could be as high as 7,300 mmbbl, and 2021 revenues (given FY20 USD/bbl of $60) could exceed RM 1.5 billion (FY20: RM 988 million).
However, this targeted forecast is quite a stretch from current production levels. Nevertheless, we shall consider all provided information in estimating a valuation for Hibiscus.
To understand Hibiscus’s oil production capacity and forecast its revenues and profits, we need to have a better appreciation of the performance of its two main cash-generating assets – the North Sabah field and the Anasuria field.

North Sabah oil field
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Hibiscus owns a 50% interest in the North Sabah field together with its partner Petronas, and has production rights over the field up to year 2040. The asset contains 4 oil fields, namely the St Joseph field, South Furious field, SF 30 field and Barton field.
For the sake of brevity, we shall not delve deep into the operational aspects of the fields or the contractual nature of its production sharing contract (PSC). We’ll just focus on the factors which relate to its financial performance. These are:
· Average uptime
· Total oil sold
· Average realized oil price
· Average OPEX per bbl
With regards to average uptime, we can see that the company maintains relative high facility availability, exceeding 90% uptime in all quarters of the LTM with exception of Jul-Sep 2019. The dip in average uptime was due to production enhancement projects and maintenance activities undertaken to improve the production capacity of the St Joseph and SF30 oil fields.
Hence, we can conclude that management has a good handle on operational performance. It also implies that there is little room for further improvement in production resulting from increased uptime.
As North Sabah is under a production sharing contract (PSC), there is a distinction between gross oil production and net oil production. The former relates to total oil drawn out of the ground, whereas the latter refers to Hibiscus’s share of oil production after taxes, royalties and expenses are accounted for. In this case, we want to pay attention to net oil production, not gross.
We can arrive at Hibiscus’s total oil sold for the last twelve months (LTM) by adding up the total oil sold for each of the last 4 quarters. Summing up the figures yields total oil sold for the LTM of approximately 2,075,305 bbl.
Then, we can arrive at an average realized oil price over the LTM by averaging the average realized oil price for the last 4 quarters, giving us an average realized oil price over the LTM of USD 68.57/bbl. We can do the same for average OPEX per bbl, giving us an average OPEX per bbl over the LTM of USD 13.23/bbl.
Thus, we can sum up the above financial performance of the North Sabah field with the following figures:
· Total oil sold: 2,075,305 bbl
· Average realized oil price: USD 68.57/bbl
· Average OPEX per bbl: USD 13.23/bbl

Anasuria oil field
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Doing the same exercise as above for the Anasuria field, we arrive at the following financial performance for the Anasuria field:
· Total oil sold: 1,073,304 bbl
· Average realized oil price: USD 63.57/bbl
· Average OPEX per bbl: USD 23.22/bbl
As gas production is relatively immaterial, and to be conservative, we shall only consider the crude oil production from the Anasuria field in forecasting revenues.

Valuation (Method 1)

Putting the figures from both oil fields together, we get the following data:
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Given that we have determined LTM EBITDA of RM 632m, the next step would be to subtract ITDA (interest, tax, depreciation & amortization) from it to obtain estimated LTM Net Profit. Using FY2020’s ITDA of approximately RM 318m as a guideline, we arrive at an estimated LTM Net Profit of RM 314m (FY20: 230m). Given the current market capitalization of RM 714.7m, this implies a trailing LTM PE of 2.3x.
Performing a sensitivity analysis given different oil prices, we arrive at the following net profit table for the company under different oil price scenarios, assuming oil production rate and ITDA remain constant:
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From the above exercise, it becomes apparent that Hibiscus has a breakeven oil price of about USD 41.8863/bbl, and has a lot of operating leverage given the exponential rate of increase in its Net Profit with each consequent increase in oil prices.
Considering that the oil production rate (EBITDA) is likely to increase faster than ITDA’s proportion to revenues (fixed costs), at an implied PE of 4.33x, it seems likely that an investment in Hibiscus will be profitable over the next 10 years (with the assumption that oil prices will revert to the mean in the long-term).

Valuation (Method 2)

Of course, there are a lot of assumptions behind the above method of valuation. Hence, it would be prudent to perform multiple methods of valuation and compare the figures to one another.
As opposed to the profit/loss assessment in Valuation (Method 1), another way of performing a valuation would be to estimate its balance sheet value, i.e. total revenues from 2P Reserves, and assign a reasonable margin to it.
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From the above, we understand that Hibiscus’s 2P reserves from the North Sabah and Anasuria fields alone are approximately 44.2 mmbbl (we ignore contribution from Australia’s VIC cluster as it hasn’t been developed yet).
Doing a similar sensitivity analysis of different oil prices as above, we arrive at the following estimated total revenues and accumulated net profit:
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Let’s assume that the above average of RM 9.68 billion in total realizable revenues from current 2P reserves holds true. If we assign a conservative Net Profit margin of 15% (FY20: 23%; past 5 years average: 16%), we arrive at estimated accumulated Net Profit from 2P Reserves of RM 1.452 billion. Given the current market capitalization of RM 714 million, we might be able to say that the equity is worth about twice the current share price.
However, it is understandable that some readers might feel that the figures used in the above estimate (e.g. net profit margin of 15%) were randomly plucked from the sky. So how do we reconcile them with figures from the financial statements? Fortunately, there appears to be a way to do just that.
Intangible Assets
I refer you to a figure in the financial statements which provides a shortcut to the valuation of 2P Reserves. This is the carrying value of Intangible Assets on the Balance Sheet.
As of 2QFY21, that amount was RM 1,468,860,000 (i.e. RM 1.468 billion).
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Quite coincidentally, one might observe that this figure is dangerously close to the estimated accumulated Net Profit from 2P Reserves of RM 1.452 billion we calculated earlier. But why would this amount matter at all?
To answer that, I refer you to the notes of the Annual Report FY20 (AR20). On page 148 of the AR20, we find the following two paragraphs:
E&E assets comprise of rights and concession and conventional studies. Following the acquisition of a concession right to explore a licensed area, the costs incurred such as geological and geophysical surveys, drilling, commercial appraisal costs and other directly attributable costs of exploration and appraisal including technical and administrative costs, are capitalised as conventional studies, presented as intangible assets.
E&E assets are assessed for impairment when facts and circumstances suggest that the carrying amount of an E&E asset may exceed its recoverable amount. The Group will allocate E&E assets to cash generating unit (“CGU”s or groups of CGUs for the purpose of assessing such assets for impairment. Each CGU or group of units to which an E&E asset is allocated will not be larger than an operating segment as disclosed in Note 39 to the financial statements.)
Hence, we can determine that firstly, the intangible asset value represents capitalized costs of acquisition of the oil fields, including technical exploration costs and costs of acquiring the relevant licenses. Secondly, an impairment review will be carried out when “the carrying amount of an E&E asset may exceed its recoverable amount”, with E&E assets being allocated to “cash generating units” (CGU) for the purposes of assessment.
On page 169 of the AR20, we find the following:
Carrying amounts of the Group’s intangible assets, oil and gas assets and FPSO are reviewed for possible impairment annually including any indicators of impairment. For the purpose of assessing impairment, assets are grouped at the lowest level CGUs for which there is a separately identifiable cash flow available. These CGUs are based on operating areas, represented by the 2011 North Sabah EOR PSC (“North Sabah”, the Anasuria Cluster, the Marigold and Sunflower fields, the VIC/P57 exploration permit (“VIC/P57”) and the VIC/L31 production license (“VIC/L31”).)
So apparently, the CGUs that have been assigned refer to the respective oil producing fields, two of which include the North Sabah field and the Anasuria field. In order to perform the impairment review, estimates of future cash flow will be made by management to assess the “recoverable amount” (as described above), subject to assumptions and an appropriate discount rate.
Hence, what we can gather up to now is that management will estimate future recoverable cash flows from a CGU (i.e. the North Sabah and Anasuria oil fields), compare that to their carrying value, and perform an impairment if their future recoverable cash flows are less than their carrying value. In other words, if estimated accumulated profits from the North Sabah and Anasuria oil fields are less than their carrying value, an impairment is required.
So where do we find the carrying values for the North Sabah and Anasuria oil fields? Further down on page 184 in the AR20, we see the following:
Included in rights and concession are the carrying amounts of producing field licenses in the Anasuria Cluster amounting to RM668,211,518 (2018: RM687,664,530, producing field licenses in North Sabah amounting to RM471,031,008 (2018: RM414,333,116))
Hence, we can determine that the carrying values for the North Sabah and Anasuria oil fields are RM 471m and RM 668m respectively. But where do we find the future recoverable cash flows of the fields as estimated by management, and what are the assumptions used in that calculation?
Fortunately, we find just that on page 185:
17 INTANGIBLE ASSETS (CONTINUED)
(a Anasuria Cluster)
The Directors have concluded that there is no impairment indicator for Anasuria Cluster during the current financial year. In the previous financial year, due to uncertainties in crude oil prices, the Group has assessed the recoverable amount of the intangible assets, oil and gas assets and FPSO relating to the Anasuria Cluster. The recoverable amount is determined using the FVLCTS model based on discounted cash flows (“DCF” derived from the expected cash in/outflow pattern over the production lives.)
The key assumptions used to determine the recoverable amount for the Anasuria Cluster were as follows:
(i Discount rate of 10%;)
(ii Future cost inflation factor of 2% per annum;)
(iii Oil price forecast based on the oil price forward curve from independent parties; and,)
(iv Oil production profile based on the assessment by independent oil and gas reserve experts.)
Based on the assessments performed, the Directors concluded that the recoverable amount calculated based on the valuation model is higher than the carrying amount.
(b North Sabah)
The acquisition of the North Sabah assets was completed in the previous financial year. Details of the acquisition are as disclosed in Note 15 to the financial statements.
The Directors have concluded that there is no impairment indicator for North Sabah during the current financial year.
Here, we can see that the recoverable amount of the Anasuria field was estimated based on a DCF of expected future cash flows over the production life of the asset. The key assumptions used by management all seem appropriate, including a discount rate of 10% and oil price and oil production estimates based on independent assessment. From there, management concludes that the recoverable amount of the Anasuria field is higher than its carrying amount (i.e. no impairment required). Likewise, for the North Sabah field.
How do we interpret this? Basically, what management is saying is that given a 10% discount rate and independent oil price and oil production estimates, the accumulated profits (i.e. recoverable amount) from both the North Sabah and the Anasuria fields exceed their carrying amounts of RM 471m and RM 668m respectively.
In other words, according to management’s own estimates, the carrying value of the Intangible Assets of RM 1.468 billion approximates the accumulated Net Profit recoverable from 2P reserves.
To conclude Valuation (Method 2), we arrive at the following:

Our estimates Management estimates
Accumulated Net Profit from 2P Reserves RM 1.452 billion RM 1.468 billion

Financials

By now, we have established the basic economics of Hibiscus’s business, including its revenues (i.e. oil production and oil price scenarios), costs (OPEX, ITDA), profitability (breakeven, future earnings potential) and balance sheet value (2P reserves, valuation). Moving on, we want to gain a deeper understanding of the 3 statements to anticipate any blind spots and risks. We’ll refer to the financial statements of both the FY20 annual report and the 2Q21 quarterly report in this analysis.
For the sake of brevity, I’ll only point out those line items which need extra attention, and skip over the rest. Feel free to go through the financial statements on your own to gain a better familiarity of the business.
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Income Statement
First, we’ll start with the Income Statement on page 135 of the AR20. Revenues are straightforward, as we’ve discussed above. Cost of Sales and Administrative Expenses fall under the jurisdiction of OPEX, which we’ve also seen earlier. Other Expenses are mostly made up of Depreciation & Amortization of RM 115m.
Finance Costs are where things start to get tricky. Why does a company which carries no debt have such huge amounts of finance costs? The reason can be found in Note 8, where it is revealed that the bulk of finance costs relate to the unwinding of discount of provision for decommissioning costs of RM 25m (Note 32).
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This actually refers to the expected future costs of restoring the Anasuria and North Sabah fields to their original condition once the oil reserves have been depleted. Accounting standards require the company to provide for these decommissioning costs as they are estimable and probable. The way the decommissioning costs are accounted for is the same as an amortized loan, where the initial carrying value is recognized as a liability and the discount rate applied is reversed each year as an expense on the Income Statement. However, these expenses are largely non-cash in nature and do not necessitate a cash outflow every year (FY20: RM 69m).
Unwinding of discount on non-current other payables of RM 12m relate to contractual payments to the North Sabah sellers. We will discuss it later.
Taxation is another tricky subject, and is even more significant than Finance Costs at RM 161m. In gist, Hibiscus is subject to the 38% PITA (Petroleum Income Tax Act) under Malaysian jurisdiction, and the 30% Petroleum tax + 10% Supplementary tax under UK jurisdiction. Of the RM 161m, RM 41m of it relates to deferred tax which originates from the difference between tax treatment and accounting treatment on capitalized assets (accelerated depreciation vs straight-line depreciation). Nonetheless, what you should take away from this is that the tax expense is a tangible expense and material to breakeven analysis.
Fortunately, tax is a variable expense, and should not materially impact the cash flow of Hibiscus in today’s low oil price environment.
Note: Cash outflows for Tax Paid in FY20 was RM 97m, substantially below the RM 161m tax expense.
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Balance Sheet
The balance sheet of Hibiscus is unexciting; I’ll just bring your attention to those line items which need additional scrutiny. I’ll use the figures in the latest 2Q21 quarterly report (2Q21) and refer to the notes in AR20 for clarity.
We’ve already discussed Intangible Assets in the section above, so I won’t dwell on it again.
Moving on, the company has Equipment of RM 582m, largely relating to O&G assets (e.g. the Anasuria FPSO vessel and CAPEX incurred on production enhancement projects). Restricted cash and bank balances represent contractual obligations for decommissioning costs of the Anasuria Cluster, and are inaccessible for use in operations.
Inventories are relatively low, despite Hibiscus being an E&P company, so forex fluctuations on carrying value of inventories are relatively immaterial. Trade receivables largely relate to entitlements from Petronas and BP (both oil supermajors), and are hence quite safe from impairment. Other receivables, deposits and prepayments are significant as they relate to security deposits placed with sellers of the oil fields acquired; these should be ignored for cash flow purposes.
Note: Total cash and bank balances do not include approximately RM 105 m proceeds from the North Sabah December 2019 offtake (which was received in January 2020)
Cash and bank balances of RM 90m do not include RM 105m of proceeds from offtake received in 3Q21 (Jan 2020). Hence, the actual cash and bank balances as of 2Q21 approximate RM 200m.
Liabilities are a little more interesting. First, I’ll draw your attention to the significant Deferred tax liabilities of RM 457m. These largely relate to the amortization of CAPEX (i.e. Equipment and capitalized E&E expenses), which is given an accelerated depreciation treatment for tax purposes.
The way this works is that the government gives Hibiscus a favorable tax treatment on capital expenditures incurred via an accelerated depreciation schedule, so that the taxable income is less than usual. However, this leads to the taxable depreciation being utilized quicker than accounting depreciation, hence the tax payable merely deferred to a later period – when the tax depreciation runs out but accounting depreciation remains. Given the capital intensive nature of the business, it is understandable why Deferred tax liabilities are so large.
We’ve discussed Provision for decommissioning costs under the Finance Costs section earlier. They are also quite significant at RM 266m.
Notably, the Other Payables and Accruals are a hefty RM 431m. What do they relate to? Basically, they are contractual obligations to the sellers of the oil fields which are only payable upon oil prices reaching certain thresholds. Hence, while they are current in nature, they will only become payable when oil prices recover to previous highs, and are hence not an immediate cash outflow concern given today’s low oil prices.
Cash Flow Statement
There is nothing in the cash flow statement which warrants concern.
Notably, the company generated OCF of approximately RM 500m in FY20 and RM 116m in 2Q21. It further incurred RM 330m and RM 234m of CAPEX in FY20 and 2Q21 respectively, largely owing to production enhancement projects to increase the production rate of the Anasuria and North Sabah fields, which according to management estimates are accretive to ROI.
Tax paid was RM 97m in FY20 and RM 61m in 2Q21 (tax expense: RM 161m and RM 62m respectively).

Risks

There are a few obvious and not-so-obvious risks that one should be aware of before investing in Hibiscus. We shall not consider operational risks (e.g. uptime, OPEX) as they are outside the jurisdiction of the equity analyst. Instead, we shall focus on the financial and strategic risks largely outside the control of management. The main ones are:
· Oil prices remaining subdued for long periods of time
· Fluctuation of exchange rates
· Customer concentration risk
· 2P Reserves being less than estimated
· Significant current and non-current liabilities
· Potential issuance of equity
Oil prices remaining subdued
Of topmost concern in the minds of most analysts is whether Hibiscus has the wherewithal to sustain itself through this period of low oil prices (sub-$30). A quick and dirty estimate of annual cash outflow (i.e. burn rate) assuming a $20 oil world and historical production rates is between RM 50m-70m per year, which considering the RM 200m cash balance implies about 3-4 years of sustainability before the company runs out of cash and has to rely on external assistance for financing.
Table 1: Hibiscus EBITDA at different oil price and exchange rates
https://preview.redd.it/gxnekd6h9br41.png?width=670&format=png&auto=webp&s=edbfb9621a43480d11e3b49de79f61a6337b3d51
The above table shows different EBITDA scenarios (RM ‘m) given different oil prices (left column) and USD:MYR exchange rates (top row). Currently, oil prices are $27 and USD:MYR is 1:4.36.
Given conservative assumptions of average OPEX/bbl of $20 (current: $15), we can safely say that the company will be loss-making as long as oil remains at $20 or below (red). However, we can see that once oil prices hit $25, the company can tank the lower-end estimate of the annual burn rate of RM 50m (orange), while at RM $27 it can sufficiently muddle through the higher-end estimate of the annual burn rate of RM 70m (green).
Hence, we can assume that as long as the average oil price over the next 3-4 years remains above $25, Hibiscus should come out of this fine without the need for any external financing.
Customer Concentration Risk
With regards to customer concentration risk, there is not much the analyst or investor can do except to accept the risk. Fortunately, 80% of revenues can be attributed to two oil supermajors (Petronas and BP), hence the risk of default on contractual obligations and trade receivables seems to be quite diminished.
2P Reserves being less than estimated
2P Reserves being less than estimated is another risk that one should keep in mind. Fortunately, the current market cap is merely RM 714m – at half of estimated recoverable amounts of RM 1.468 billion – so there’s a decent margin of safety. In addition, there are other mitigating factors which shall be discussed in the next section (‘Opportunities’).
Significant non-current and current liabilities
The significant non-current and current liabilities have been addressed in the previous section. It has been determined that they pose no threat to immediate cash flow due to them being long-term in nature (e.g. decommissioning costs, deferred tax, etc). Hence, for the purpose of assessing going concern, their amounts should not be a cause for concern.
Potential issuance of equity
Finally, we come to the possibility of external financing being required in this low oil price environment. While the company should last 3-4 years on existing cash reserves, there is always the risk of other black swan events materializing (e.g. coronavirus) or simply oil prices remaining muted for longer than 4 years.
Furthermore, management has hinted that they wish to acquire new oil assets at presently depressed prices to increase daily production rate to a targeted 20,000 bbl by end-2021. They have room to acquire debt, but they may also wish to issue equity for this purpose. Hence, the possibility of dilution to existing shareholders cannot be entirely ruled out.
However, given management’s historical track record of prioritizing ROI and optimal capital allocation, and in consideration of the fact that the MD owns 10% of outstanding shares, there is some assurance that any potential acquisitions will be accretive to EPS and therefore valuations.

Opportunities

As with the existence of risk, the presence of material opportunities also looms over the company. Some of them are discussed below:
· Increased Daily Oil Production Rate
· Inclusion of 2C Resources
· Future oil prices exceeding $50 and effects from coronavirus dissipating
Increased Daily Oil Production Rate
The first and most obvious opportunity is the potential for increased production rate. We’ve seen in the last quarter (2Q21) that the North Sabah field increased its daily production rate by approximately 20% as a result of production enhancement projects (infill drilling), lowering OPEX/bbl as a result. To vastly oversimplify, infill drilling is the process of maximizing well density by drilling in the spaces between existing wells to improve oil production.
The same improvements are being undertaken at the Anasuria field via infill drilling, subsea debottlenecking, water injection and sidetracking of existing wells. Without boring you with industry jargon, this basically means future production rate is likely to improve going forward.
By how much can the oil production rate be improved by? Management estimates in their analyst presentation that enhancements in the Anasuria field will be able to yield 5,000 bbl/day by 2021 (current: 2,500 bbl/day).
Similarly, improvements in the North Sabah field is expected to yield 7,000 bbl/day by 2021 (current: 5,300 bbl/day).
This implies a total 2021 expected daily production rate from the two fields alone of 12,000 bbl/day (current: 8,000 bbl/day). That’s a 50% increase in yields which we haven’t factored into our valuation yet.
Furthermore, we haven’t considered any production from existing 2C resources (e.g. Marigold/Sunflower) or any potential acquisitions which may occur in the future. By management estimates, this can potentially increase production by another 8,000 bbl/day, bringing total production to 20,000 bbl/day.
While this seems like a stretch of the imagination, it pays to keep them in mind when forecasting future revenues and valuations.
Just to play around with the numbers, I’ve come up with a sensitivity analysis of possible annual EBITDA at different oil prices and daily oil production rates:
Table 2: Hibiscus EBITDA at different oil price and daily oil production rates
https://preview.redd.it/jnpfhr5n9br41.png?width=814&format=png&auto=webp&s=bbe4b512bc17f576d87529651140cc74cde3d159
The left column represents different oil prices while the top row represents different daily oil production rates.
The green column represents EBITDA at current daily production rate of 8,000 bbl/day; the orange column represents EBITDA at targeted daily production rate of 12,000 bbl/day; while the purple column represents EBITDA at maximum daily production rate of 20,000 bbl/day.
Even conservatively assuming increased estimated annual ITDA of RM 500m (FY20: RM 318m), and long-term average oil prices of $50 (FY20: $60), the estimated Net Profit and P/E ratio is potentially lucrative at daily oil production rates of 12,000 bbl/day and above.
2C Resources
Since we’re on the topic of improved daily oil production rate, it bears to pay in mind the relatively enormous potential from Hibiscus’s 2C Resources. North Sabah’s 2C Resources alone exceed 30 mmbbl; while those from the yet undiagnosed Marigold/Sunflower fields also reach 30 mmbbl. Altogether, 2C Resources exceed 70 mmbbl, which dwarfs the 44 mmbbl of 2P Reserves we have considered up to this point in our valuation estimates.
To refresh your memory, 2C Resources represents oil volumes which have been discovered but are not yet classified as “commercial”. This means that there is reasonable certainty of the oil being recoverable, as opposed to simply being in the very early stages of exploration. So, to be conservative, we will imagine that only 50% of 2C Resources are eligible for reclassification to 2P reserves, i.e. 35 mmbbl of oil.
https://preview.redd.it/mto11iz7abr41.png?width=375&format=png&auto=webp&s=e9028ab0816b3d3e25067447f2c70acd3ebfc41a
This additional 35 mmbbl of oil represents an 80% increase to existing 2P reserves. Assuming the daily oil production rate increases similarly by 80%, we will arrive at 14,400 bbl/day of oil production. According to Table 2 above, this would yield an EBITDA of roughly RM 630m assuming $50 oil.
Comparing that estimated EBITDA to FY20’s actual EBITDA:
FY20 FY21 (incl. 2C) Difference
Daily oil production (bbl/day) 8,626 14,400 +66%
Average oil price (USD/bbl) $68.57 $50 -27%
Average OPEX/bbl (USD) $16.64 $20 +20%
EBITDA (RM ‘m) 632 630 -
Hence, even conservatively assuming lower oil prices and higher OPEX/bbl (which should decrease in the presence of higher oil volumes) than last year, we get approximately the same EBITDA as FY20.
For the sake of completeness, let’s assume that Hibiscus issues twice the no. of existing shares over the next 10 years, effectively diluting shareholders by 50%. Even without accounting for the possibility of the acquisition of new oil fields, at the current market capitalization of RM 714m, the prospective P/E would be about 10x. Not too shabby.
Future oil prices exceeding $50 and effects from coronavirus dissipating
Hibiscus shares have recently been hit by a one-two punch from oil prices cratering from $60 to $30, as a result of both the Saudi-Russian dispute and depressed demand for oil due to coronavirus. This has massively increased supply and at the same time hugely depressed demand for oil (due to the globally coordinated lockdowns being implemented).
Given a long enough timeframe, I fully expect OPEC+ to come to an agreement and the economic effects from the coronavirus to dissipate, allowing oil prices to rebound. As we equity investors are aware, oil prices are cyclical and are bound to recover over the next 10 years.
When it does, valuations of O&G stocks (including Hibiscus’s) are likely to improve as investors overshoot expectations and begin to forecast higher oil prices into perpetuity, as they always tend to do in good times. When that time arrives, Hibiscus’s valuations are likely to become overoptimistic as all O&G stocks tend to do during oil upcycles, resulting in valuations far exceeding reasonable estimates of future earnings. If you can hold the shares up until then, it’s likely you will make much more on your investment than what we’ve been estimating.

Conclusion

Wrapping up what we’ve discussed so far, we can conclude that Hibiscus’s market capitalization of RM 714m far undershoots reasonable estimates of fair value even under conservative assumptions of recoverable oil volumes and long-term average oil prices. As a value investor, I hesitate to assign a target share price, but it’s safe to say that this stock is worth at least RM 1.00 (current: RM 0.45). Risk is relatively contained and the upside far exceeds the downside. While I have no opinion on the short-term trajectory of oil prices, I can safely recommend this stock as a long-term Buy based on fundamental research.
submitted by investorinvestor to SecurityAnalysis [link] [comments]

Concerns on DeFi

Hello,
Just wanted to share some of my legitimate concerns around decentralised finance with the broader community. To be quite clear - I am a huge fan of Ethereum and DeFi and believe this could lead to the future of finance. However, I do worry if there is a circle jerk within the community that could lead to a lack of adoption in the coming months. I will try and keep this as short as possible. By all means, do understand I am coming from the pov of sharing constructive criticism and not dissing on the efforts of those building.
If you are solving for these problems in particular, please ping me and I'd love to talk further with you
  1. On-ramps The largest problem for much of the developing world is the fact that while DAI can without doubt give dollar exposure, acquiring them is quite a difficult task. In fact if DAI demand goes up substantially in a region, it could have premiums of upto 25% which makes it a bad on-ramp tool without necessary liquidity in place. (check Wazir X p2p USDT rates in India for context). This problem is not endemic to DAI alone but is applicable to stable tokens of all kinds. With regional regulations in nations like Thailand, Vietnam, Indonesia, Phillipines, Malaysia and India not being clear on stable tokens in particular, it becomes an uphill task for developers to build on it. More importantly, it becomes less appealing for the average individual to use. Now typically this wouldnt matter if the point of DeFi was to be a niche project aimed at a small community. However, DeFi has the power to be the first mass market blockchain tool for the world. Consider it to be the "e-mail" or "napster" moment for blockchain based applications. IF we are to scale then on-ramps and off-ramps need to be solved for. This can happen only and if the community begins engaging with regional regulators and exchanges begin providing solutions. In an ideal world, acquiring stable tokens should be as easy as venmo'ing someone $10 dollar and receiving say $9.90 (1% fee) in Incento (incento.io seems interesting, not shilling but do check them out!)
  2. Incumbent Efficiency In order for a system to scale past a certain point, the value add it brings needs to be considerably higher than the incumbent. Depending on the size of the remittance market, there exists multiple payments and wire transfer corridors set up by startups today to solve for quick transfers. In fact during times when a blockchain like those of Ethereum's or Bitcoin's are clogged - transferwise can prove to be a cheaper, better alternative than tokens. This is not to diss on the fact that decentralisation and immutability has a price attached to them, but for the average user today alternatives are far better than token based products. The challenge when it comes to scaling - especially towards L2 is whether products can be incrementally better than their incumbents in exchange for some trade offs (eg: relative centralisation in lightning for minimal fees and quicker confirmation). Today's DeFi apps have to make a call between being ideological and efficient because it seems there is a price attached to ideology and retail users aren't willing to pay that price.
  3. Slippage Much props to Kyber and Uniswap for solving for this on most DeFi apps but there remains challenges in how settlements for defi instruments today happen. As the scale of volume on products like DyDx and Nuo increase and the expected accuracy at which trade settlements are anticipated to be limited to, there will come a point in time where traditional market-makers will have to enter the system. At $500 million the DeFi space's largest traders constantly reel from price slippages and a lack of liquidity. How can we scale to $10 billion or $1 trillion without the kind of liquidity that could instill confidence in large whales. In order to solve this, there will come a point in time where hedge funds and dark pool service providers from traditional markets begin targetting DeFi instruments. The community will likely see this as an all out assault on the principles DeFi has been built upon but to be honest, this will be a quintessential requirement for the space to grow. We are seeing an early variant of this already with the likes of Cred raising $50 million to re-issue as debt (yes, not entirely DeFi) or with MakerDAO having VC partners that come from traditional backgrounds. Even in the case of products like Dharma and compound, the market-makers are hedge funds. We will see a convergence of traditional market products and DeFi soon. That will be an exciting phase imo.
  4. Product-Market Fit Debt is one of the oldest financial innovations in the markets. Quite literally. Some of the first ever tablets recorded debt obligations and as such have been quintessential to the growth of human civilisation. MakerDAO's proposition of issuing token backed debt is by all means revolutionary but in order to see true scale, DeFi has to grow beyond the individuals that can give assets as collateral. I reckon there will be a new layer of growth for DeFi soon that will be powered with open-data and AI. One where an individual's credit worthiness could be checked with the individual's permission on basis of on-chain tx activity and self sovereign identity. I also see a market for AI based lending rate predictions and forex management by central banks. Autonomous agents can realistically analyse tx's in and out of a country, account for macro-economic indicators and optimise internal lending rates and foreign currency reserves. Ofcourse it is too early for any of this to take place but within the next decade our markets will be far more (i) closer due to globalisation and (ii) automated due to improvements in AI. DeFi is all well and good but if we are going to beat the same old drums of economic instruments that were created thousands of years back, there may be no real value proposition here. LsDAI, rDAI, CDAI, DAI... are all interesting but the average user sees no value yet. Which makes me wonder if we are sitting around patting each other's back before we see something productive (a unicorn from the DeFi ecosystem perhaps?)
  5. Scale 4.5 billion. That's the number of unbanked individuals that can be catered to with an L2 payments solution powered by Ethereum. Challenges? On-ramp, storage of private keys, user education and bloody hell - marketing and user education. Emphasis on the last 2 because I feel not much focus is given on it. We can no longer build and hope the markets come. We are in an era of Zombie startups where startups with north of $100 million+ valuations in Mcap, that raised north of $10million in 2017 from ICOs are sitting on ~1000 users a month. People think the alts blood seepage is done but it is likely that that bleeding wont stop until we find users. And when we do find users, we cant expect them to be using a gazillion tokens, each with weird token economics and even more complex functioning to be using them. Standardising of token interactions through wallets and interoperability will solve for these challenges but its time we asked what are the biggest problems DeFi can solve today? Here are some hints.. NFT based Income share agreements -Non collateralised debt for gig economy corporations that are registered as DAOs -DAO treasury management -Forex off-ramps for tourists (P2P) More on these later..
Just wanted to share my $0.02.
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Exchanging Malaysian ringgit to INR - The Deets you must know!

Malaysian ringgit is the official currency of Malaysia. Earlier the currency was denoted in Dollars. Do you need to convert MYR to INR? Then you can do it in various ways. The purpose could be emergency remittance, trip to Malaysia or paying educational fees.
The exchange process through banks and moneychangers is a bit traditional. Banks don't offer you Malaysia currency at a flexible rate. You'll get it according to day option, unlike forex sites.
Also, moneychangers charge extra on MYR to INR so it can indeed cost you more. Online forex sites offer great deals on the exchange of RM to INR.
Online Forex site
Online forex site like Bookmyforex.com offers you the best rates on exchange. MYR to INR on BookMyForex can help to save your money and effort both. As the rates are updated after every three seconds, you'll get to freeze the rates for three days.
By paying an upfront charge of 2%, you'll be able to use the same rate for your transaction. The site also offers a unique rate alert feature which notifies you when your desired rate matches the rate on the site. Getting a fair rate will help you get the best deal on ringgit to INR.
The rate advantage
Bookmyforex.com is the most popular online marketplace for currency exchange. The site lets you compare the rates and also use a converter. The site has partnered with more than 100 banks and moneychangers to give you a fair rate advantage.
It offers a home delivery option in more than 650+ locations in India. Ringgit to INR exchange is easy when you enter a location and amount. You need to set your rate for exchange and make payment.
It also offers a facility of same-day delivery in emergencies. If you book your order before 12 in the noon, you'll get same-day delivery on exchange.
MYR Forex cards
Applications in smartphones have surely changed the way you work. Everything can be done in seconds with the use of apps. In the same way, you can opt for a smart currency option if you are traveling to Malaysia.
Buy an MYR Forex card from Bookmyforex.com and have a great time on your trip. You can preload Malaysia currency in the card and use it to make purchases including the ones on online websites.
The site also offers traveler's cheque and MYR money transfer. Traveler's cheque can be encashed in an emergency and money transfer takes about twenty-four hours.
Get the best deal,
Who doesn't wish to get the best deal on the exchange? Exchanging ringgit to INR is easy with Bookmyforex.com. There is no hidden charge or fee that you have to pay on exchange.
The process is simple, you just need to log on to the site. Choose MYR to INR exchange option. Enter the amount and rate and get your payment done. The order will be delivered at your home.
The exchange process has never been this simple. With Bookmyforex.com you can expect complete transparency and expediency. You'll also get the benefit of loyalty programs and customer service from the site. MYR to INR on BookMyForex is the best way to exchange.
submitted by ankitasharmaa to u/ankitasharmaa [link] [comments]

13 Ways to Maximise your IVF Success & Minimise your IVF Cost

13 Ways to Maximise your IVF Success & Minimise your IVF Cost

https://preview.redd.it/fx11dz312u041.jpg?width=720&format=pjpg&auto=webp&s=bf4535866826b05ac61e65dbbfff5a84a435a1b5
“Only 30-35% of couples going for IVF get successful in their journey but with the right approach and expertise the success rate can be increased upto two folds”– Dr. Neha Jain The field of IVF has seen tremendous growth in the past few years. India is one of the countries which has witnessed a tremendous development in the field of infertility treatments. According to NARI (National ART Registry of India) and the Indian Council of Medical Research (ICMR), the infertility number has increased significantly. The success rate of the treatment is associated with the age, lifestyle, genetic factors of the conceiving mother and many other factors. According to the CDC (Centre for Disease Control), the success rate varies from 35 to 38 percent.. Lower rates are observed with patients of higher age bracket. One of the factors impacting success is stress. The knowledge and acceptance of infertility take a toll on the couple's mental health. Like any other medical procedure, maintaining the proper health of the couples involved is inevitable to obtain expected results in IVF. It is crucial especially for the mothers conceiving through IVF. The health care should begin as soon as you decide to choose the assisted reproductive technology to get pregnant. Let us discuss measures to increase the chances of a successful IVF treatment and minimize your billing while you are going through the most crucial phase of your life. This blog aims to introduce ways to minimize the treatment costs, reduce stress and maximize the chances of a safe and successful procedure.
So, let’s take a look at How to Increase Your Chances of IVF Success and minimize your IVF cost
Feel free to skip ahead if one topic catches your eye:
  1. Do your homework
  2. Don’t wait until it’s too late
  3. Nutrition and weight balance
  4. Ensure you have adequate levels of vitamin D
  5. Gender specific supplements to add in your routine
  6. Don’t ignore the male. Optimize sperm health
  7. Egg donation program
  8. Travel for IVF
  9. Check your insurance
  10. How Can You Pay for IVF?
  11. Smoking and Alcohol
  12. Relaxation
  13. Acupuncture
https://preview.redd.it/x336tfab2u041.jpg?width=658&format=pjpg&auto=webp&s=fd03ebf60f7994cf50dc7268e5197f86b014d7a6
Do your homework-Find the right fertility clinic for you Ask about the certifications of the doctor and the labs you are planning on getting your IVF done at,look for an IVF center that is being run by a team of experts and not by an individual practitioner.Individually run IVF centers lack transparency and well defined standard operating protocols”-Dr. Shilpa Gupta IVF is an expensive treatment that is demanding both financially and emotionally. You cannot compromise with the quality of treatment which majorly depends on the clinic’s facilities and success rate and the doctor who is going to treat you. Make extensive research for selecting the best doctor and clinic for the treatment Ask about the certification of the doctors and accreditation of the labs,look for the best IVF center near you that is being run by a team of expert rather than an individual. Individually run centers lack transparency and well defined functioning work protocols
The center should have a 24X7 available working staff especially a Doctor and an Embryologist, you may come across centers who do not have a full time available staff,The Doctors and Embryologist are available only on call as per requirement which leads to poorly managed operation theater and infrastructure
Ask for the expertise of doctors and ensure that the doctor has high conversion rates in IVF and area expertise in the particular field of IVF.Discuss their experience with the women of your age and similar medical and health conditions
The center should be well equipped with world class advanced technology,The field of IVF is advancing every day which is ensuring better success rate of the procedure The center should have a protocol to treat each case individually,It has been observed that many IVF center combine many IVF cases all together and perform IVF on all of them at once which results into poor results of all cases,Every case is unique and it needs to be treated individually Evaluating the best IVF center near you is the first step towards successful parenthood
https://reddit.com/link/e1g0mh/video/e113vypj2u041/player
Don’t wait until it’s too late " The best age for women for a successful IVF treatment is between 20 and 35 years – Dr.Neha Jain
Does my age is going to affect the success of IVF? Well! Yes, it does. Your chances of conceiving and giving birth to a child are closely linked with your age in both natural and IVF pregnancies.The ability to conceive begins to decline at approximately 28 years of age. This has a direct impact on the success of IVF treatment. Aging deteriorates the quality and quantity of eggs which reduces the chances of successful treatment. The data from the Society of assisted reproductive technology (SART) suggests that the chances of live birth in women under 35 are around 47 percent while for women between 80 and 40, it is 38 percent. For the above-mentioned reasons, it is advised to consult the best IVF doctor as soon as you decide to conceive through IVF and your doctor clears you for the procedure.
Nutrition and weight balance
Taking proper nutrition and maintaining a healthy body weight is essential not only during the treatment but also during the preparation. You should begin self-care a couple of months before the embryo transfer. Your doctor will guide you about the diet. There are also fertility diet programs that improve the health of your reproductive organs and promote the success of the treatments. A balanced diet and adequate nutrition also help in the supply of good quality blood to the uterus. This provides better nutrition to the embryo and helps in its growth. Your male partner should also take up a specific diet to improve the quality and quantity of the sperms. Also, healthy body weight is a boon to the IVF treatment. While being right weight increases the time of conception, excess weight increases the chances of complications and makes monitoring more difficult.To know more about it, it's recommended to talk to an IVF expert.
Ensure you have adequate levels of vitamin D About forty percent of individuals are deficient in Vitamin D, and there are upcoming data on its relation with infertility and poor IVF outcomes.Most commonly vitamin D is produced when your skin is exposed to sunlight. For that reason, most women who are from colder regions or who stay indoors are mostly vitamin D deficiency. Many studies and theories have linked vitamin D with the success of IVF treatment. A woman with vitamin D deficiency is more likely to face pregnancy-induced hypertension, lower birth weight, and gestational diabetes. Ensure that you take ample sunlight and strive for food like fatty fish (tuna, mackerel, salmon), egg yolk, cheese, and other vitamin D fortified food like orange juice, soy milk, and cereals, etc.
Gender specific supplements to add in your routine
Along with a balanced diet, supplements are also important for the success of IVF treatment. Supplements are a must for both female and male partners. Women need supplements for vitamins A, B, C, and E. Zinc, magnesium, iron, and folic acid provide great help in fertilization and implant processes. These also help in preventing neural tube defects. Women should also take enough fatty acids to keep FSH under control and provide nourishment for eggs. Men should also take antioxidants with these vitamins and supplements. These reduce the chances of sperm damage and ensure normal sperm production, sperm count and motility. Coenzyme Q10 improves blood flow and increases the chances of fertilization.
Don’t ignore the male. Optimize sperm health
"Malefactor influence nearly two-third of infertility cases.” – Dr. Jagatjeet Singh
Many a time people misunderstood the IVF treatment as a procedure that is done with the female partner only. However, the contribution of the male partner is vital. Almost two-thirds of the couples who choose IVF could not normally conceive due to male infertility. Common problems related to sperm production are about the quantity, movement, and shape. These problems arise usually due to excess of alcohol, tobacco or other drugs, high temperature in a hot bath, and excessive workout. Men should also take a healthy and balanced diet rich in vitamins and antioxidants. Your doctors may also prescribe supplements for your male partner. Maintaining a healthy body weight is also important for treatment. You should do moderate exercise regularly. You should undertake the semen analysis before going for the IVF treatment. This would help you and your doctor to identify and understand the cause of male infertility and take the necessary steps to address these issues and obtain a successful outcome of the treatment.You can get an infertility examination to know where you stand on your fertility journey.
Egg donation program
“Egg donation can increase the chances of success of IVF treatment by more than 42 percent.” – Dr. Shilpa Gupta
Egg donation programs are a boon to the parents who want to take up IVF treatment but are constrained by the budget.The process involves taking high quality fertile and healthy eggs from a female done of age between 21 to 29 years, The donors have to go through a well defined and strict screening process to ensure that the practice gives fruitful results.The donor needs to have a healthy lifestyle,good educational background,right weight and height ratios and willing to undergo all medical and background screening processes.It needs to be ensured that the center you are availing the egg donation program follows guidelines provided by ICMR (Indian Council of Medical Research) . Egg received from the young female are fertilized with the sperm of the husband and the resulting embryo is then transferred to the womb of the recipient women
Travel for IVF
“The overall cost of the treatment in India including travel cost is nearly one third of the treatment costs in other countries.” – Dr. Jagatjeet Singh
Should I travel to a different country for IVF treatment? If you are looking for excellent treatment at the minimum possible cost, you should. The cost of IVF treatment is high and is extremely subjective. It depends on your age, fertility history, duration of the marriage and the location. Different countries offer treatment at greatly varying prices. The cost of the treatment in the US is $19,200 whereas it is much lower in other countries. In Malaysia, it is $4,500 and in Thailand, it is $7500. Cost of IVF treatment in India is just ₹51000 which approximately $700,you can get the world-class treatment done. Lesser cost does not always mean poor quality. This variation in cost is based on the cost of living in the country and the burden on the doctors. You also get world-class facilities and internationally trained doctors supporting you 24/7. Clinics also provide support for the visa, travel, and Forex exchange. We provide high-quality treatment with excellent success-rate at the most reasonable pricing.
https://preview.redd.it/kj92q2or2u041.jpg?width=1024&format=pjpg&auto=webp&s=6f7c51e7711418192334a31b002ce2011fc853cd
Check your insurance
Fertility treatments are not considered medically necessary so insurance companies and they do not usually cover them. But if you have a certain condition like endometriosis, polycystic ovarian disease, etc. that cause infertility, you may be able to get the insurance to pay for the treatment.
If you are still unable to get your insurance to cover it, see if your company offers some kind of employee benefit that allows you to use part of your pre-taxed income for medical uses that insurance provider won’t cover.
How to pay for IVF procedures
Among the top 10 IVF centers in Delhi Baby Joy IVF clinic allows you to pay through various payment options. You can make the payment online which speeds up and simplifies the procedure. We also allow you to pay in installments. Our costing and payment are highly transparent. We provide “World-class Yet Economical” IVF Fertility Treatment in Delhi.
Additional Offers Only for This Week on Cost of IVF in Delhi at Baby Joy
  • Spl. Discounted IVF Packages.
  • Easy EMIs available; Payment can be made in parts.
  • Register nw to avail cheap IVF Price, IVF Cost in Delhi & Start treatment later.
  • Your age, years of marriage & fertility history will help us guide you better on overall IVF Cost, Cost of IVF.
  • No Hidden Charges; No Expensive Tests; Transparent IVF Pricing.
  • Customized Packages available.
  • Money Back Guarantee
https://reddit.com/link/e1g0mh/video/6ojc83vx2u041/player
Smoking and Alcohol detox
Both smoking and alcohol reduce the success rate of IVF treatment. Smoking in men can lead to low sperm count and poor sperm quality causing miscarriage. Women can also face miscarriage due to smoking as it ages the eggs and depletes the uterus lining. Taking alcohol more than ten units a week also decreases the chances of successful IVF treatment.
Relaxation
Many studies have proved that stress adversely affects the results of IVF treatment. It messes up with your cycle timing and can reduce sperm count in males. Cortisol and other hormones secreted due to stress interfere with the implantation process. It may also lead to miscarriage. You can opt for activities like light yoga, meditation, spa, etc for relaxation. You should talk to your doctor and your partner about your apprehensions. Consult a professional counselor if needed.
Acupuncture
Acupuncture is a science that treats various health conditions by putting tiny needles precisely in your body. Presently it is one of the most preferred alternative treatments. Acupuncture is highly effective in managing stress. It enhances the blood flow to the reproductive organs and improves their function. Taking acupuncture sessions for three months before the embryo transfer can dramatically increase the chances of successful treatment.
All the couples who are commencing their journey of IVF may initially find it challenging and demanding. Although it is not completely untrue, a little research, precautions, and teaming with an excellent doctor and fertility clinic like the baby joy IVF can make it safe and smooth. Our doctors compassionately discuss the details of infertility and the procedure to be followed. We provide personalized care to all our patients and provide them both medical and psychological support.
Best wishes from Baby Joy If you are commencing their journey of IVF and find it challenging and demanding, you are not alone. Although the fear is not completely unjustified, a little research, precautions, and teaming with an excellent doctor and fertility clinic can make it safe and smooth. Find the best IVF doctor who compassionately discusses the details of infertility and the procedure to be followed. Personalized care and world-class medical and psychological support can ensure your success through the journey of IVF.
We understand, there cannot be a stronger human emotion than the desire ‘to have Your Little One!’ “Baby Joy” is our endeavour to be part of your journey towards parenthood.
It is our VISION to set benchmarks in the field of Fertility management globally, through cutting edge technology, most advanced treatment protocols, & a highly acclaimed team of doctors, embryologists & support staff.
It is our MISSION to achieve high success rates at lowest cost, through highly customised fertility care, internationally accepted protocols & best global practices. We strongly believe in bringing transparency & honesty to Fertility care in India. We carry out egg donation & surrogacy through our sister concern WSC. This makes Baby Joy a comprehensive Fertility Centre providing 360 degree fertility solutions under 1 roof. We are one of the few recognised professionally run healthcare centres in India. Baby Joy offers comprehensive Infertility, Surrogacy and Test Tube Baby Solutions in India
At Baby Joy, we strive to ‘touch your lives’ by helping you ‘create life!’
Hoping to transform your dreams into reality, your desires into accomplishments & your Hope into Joy !
Source URL:- https://www.babyjoyivf.com/13-ways-to-maximise-your-ivf-success-minimise-your-ivf-cost/
submitted by babyjoy1 to u/babyjoy1 [link] [comments]

13 Ways to Maximise your IVF Success & Minimise your IVF Cost

13 Ways to Maximise your IVF Success & Minimise your IVF Cost
“Only 30-35% of couples going for IVF get successful in their journey but with the right approach and expertise the success rate can be increased upto two folds”– Dr. Neha Jain The field of IVF has seen tremendous growth in the past few years. India is one of the countries which has witnessed a tremendous development in the field of infertility treatments. According to NARI (National ART Registry of India) and the Indian Council of Medical Research (ICMR), the infertility number has increased significantly. The success rate of the treatment is associated with the age, lifestyle, genetic factors of the conceiving mother and many other factors. According to the CDC (Centre for Disease Control), the success rate varies from 35 to 38 percent.. Lower rates are observed with patients of higher age bracket. One of the factors impacting success is stress. The knowledge and acceptance of infertility take a toll on the couple's mental health. Like any other medical procedure, maintaining the proper health of the couples involved is inevitable to obtain expected results in IVF. It is crucial especially for the mothers conceiving through IVF. The health care should begin as soon as you decide to choose the assisted reproductive technology to get pregnant. Let us discuss measures to increase the chances of a successful IVF treatment and minimize your billing while you are going through the most crucial phase of your life. This blog aims to introduce ways to minimize the treatment costs, reduce stress and maximize the chances of a safe and successful procedure.
ivf clinic in delhi
So, let’s take a look at How to Increase Your Chances of IVF Success and minimize your IVF cost
Feel free to skip ahead if one topic catches your eye:
  1. Do your homework
  2. Don’t wait until it’s too late
  3. Nutrition and weight balance
  4. Ensure you have adequate levels of vitamin D
  5. Gender specific supplements to add in your routine
  6. Don’t ignore the male. Optimize sperm health
  7. Egg donation program
  8. Travel for IVF
  9. Check your insurance
  10. How Can You Pay for IVF?
  11. Smoking and Alcohol
  12. Relaxation
  13. Acupuncture


https://preview.redd.it/szlz45fdeu041.jpg?width=658&format=pjpg&auto=webp&s=f44481182f0376e1d2353e1fed601d0ab3182015
Do your homework-Find the right fertility clinic for you Ask about the certifications of the doctor and the labs you are planning on getting your IVF done at,look for an IVF center that is being run by a team of experts and not by an individual practitioner.Individually run IVF centers lack transparency and well defined standard operating protocols”-Dr. Shilpa Gupta IVF is an expensive treatment that is demanding both financially and emotionally. You cannot compromise with the quality of treatment which majorly depends on the clinic’s facilities and success rate and the doctor who is going to treat you. Make extensive research for selecting the best doctor and clinic for the treatment Ask about the certification of the doctors and accreditation of the labs,look for the best IVF center near you that is being run by a team of expert rather than an individual. Individually run centers lack transparency and well defined functioning work protocols
The center should have a 24X7 available working staff especially a Doctor and an Embryologist, you may come across centers who do not have a full time available staff,The Doctors and Embryologist are available only on call as per requirement which leads to poorly managed operation theater and infrastructure
Ask for the expertise of doctors and ensure that the doctor has high conversion rates in IVF and area expertise in the particular field of IVF.Discuss their experience with the women of your age and similar medical and health conditions
The center should be well equipped with world class advanced technology,The field of IVF is advancing every day which is ensuring better success rate of the procedure The center should have a protocol to treat each case individually,It has been observed that many IVF center combine many IVF cases all together and perform IVF on all of them at once which results into poor results of all cases,Every case is unique and it needs to be treated individually Evaluating the best IVF center near you is the first step towards successful parenthood
Watch - 5 Most important things to consider while selecting an IVF centre
Don’t wait until it’s too late " The best age for women for a successful IVF treatment is between 20 and 35 years – Dr.Neha Jain
Does my age is going to affect the success of IVF? Well! Yes, it does. Your chances of conceiving and giving birth to a child are closely linked with your age in both natural and IVF pregnancies.The ability to conceive begins to decline at approximately 28 years of age. This has a direct impact on the success of IVF treatment. Aging deteriorates the quality and quantity of eggs which reduces the chances of successful treatment. The data from the Society of assisted reproductive technology (SART) suggests that the chances of live birth in women under 35 are around 47 percent while for women between 80 and 40, it is 38 percent. For the above-mentioned reasons, it is advised to consult the best IVF doctor as soon as you decide to conceive through IVF and your doctor clears you for the procedure.
Nutrition and weight balance
Taking proper nutrition and maintaining a healthy body weight is essential not only during the treatment but also during the preparation. You should begin self-care a couple of months before the embryo transfer. Your doctor will guide you about the diet. There are also fertility diet programs that improve the health of your reproductive organs and promote the success of the treatments. A balanced diet and adequate nutrition also help in the supply of good quality blood to the uterus. This provides better nutrition to the embryo and helps in its growth. Your male partner should also take up a specific diet to improve the quality and quantity of the sperms. Also, healthy body weight is a boon to the IVF treatment. While being right weight increases the time of conception, excess weight increases the chances of complications and makes monitoring more difficult.To know more about it, it's recommended to talk to an IVF expert.
Ensure you have adequate levels of vitamin D About forty percent of individuals are deficient in Vitamin D, and there are upcoming data on its relation with infertility and poor IVF outcomes.Most commonly vitamin D is produced when your skin is exposed to sunlight. For that reason, most women who are from colder regions or who stay indoors are mostly vitamin D deficiency. Many studies and theories have linked vitamin D with the success of IVF treatment. A woman with vitamin D deficiency is more likely to face pregnancy-induced hypertension, lower birth weight, and gestational diabetes. Ensure that you take ample sunlight and strive for food like fatty fish (tuna, mackerel, salmon), egg yolk, cheese, and other vitamin D fortified food like orange juice, soy milk, and cereals, etc.
Gender specific supplements to add in your routine
Along with a balanced diet, supplements are also important for the success of IVF treatment. Supplements are a must for both female and male partners. Women need supplements for vitamins A, B, C, and E. Zinc, magnesium, iron, and folic acid provide great help in fertilization and implant processes. These also help in preventing neural tube defects. Women should also take enough fatty acids to keep FSH under control and provide nourishment for eggs. Men should also take antioxidants with these vitamins and supplements. These reduce the chances of sperm damage and ensure normal sperm production, sperm count and motility. Coenzyme Q10 improves blood flow and increases the chances of fertilization.
Don’t ignore the male. Optimize sperm health
"Malefactor influence nearly two-third of infertility cases.” – Dr. Jagatjeet Singh
Many a time people misunderstood the IVF treatment as a procedure that is done with the female partner only. However, the contribution of the male partner is vital. Almost two-thirds of the couples who choose IVF could not normally conceive due to male infertility. Common problems related to sperm production are about the quantity, movement, and shape. These problems arise usually due to excess of alcohol, tobacco or other drugs, high temperature in a hot bath, and excessive workout. Men should also take a healthy and balanced diet rich in vitamins and antioxidants. Your doctors may also prescribe supplements for your male partner. Maintaining a healthy body weight is also important for treatment. You should do moderate exercise regularly. You should undertake the semen analysis before going for the IVF treatment. This would help you and your doctor to identify and understand the cause of male infertility and take the necessary steps to address these issues and obtain a successful outcome of the treatment.You can get an infertility examination to know where you stand on your fertility journey.
Egg donation program
“Egg donation can increase the chances of success of IVF treatment by more than 42 percent.” – Dr. Shilpa Gupta
Egg donation programs are a boon to the parents who want to take up IVF treatment but are constrained by the budget.The process involves taking high quality fertile and healthy eggs from a female done of age between 21 to 29 years, The donors have to go through a well defined and strict screening process to ensure that the practice gives fruitful results.The donor needs to have a healthy lifestyle,good educational background,right weight and height ratios and willing to undergo all medical and background screening processes.It needs to be ensured that the center you are availing the egg donation program follows guidelines provided by ICMR (Indian Council of Medical Research) . Egg received from the young female are fertilized with the sperm of the husband and the resulting embryo is then transferred to the womb of the recipient women
Travel for IVF
“The overall cost of the treatment in India including travel cost is nearly one third of the treatment costs in other countries.” – Dr. Jagatjeet Singh
Should I travel to a different country for IVF treatment? If you are looking for excellent treatment at the minimum possible cost, you should. The cost of IVF treatment is high and is extremely subjective. It depends on your age, fertility history, duration of the marriage and the location. Different countries offer treatment at greatly varying prices. The cost of the treatment in the US is $19,200 whereas it is much lower in other countries. In Malaysia, it is $4,500 and in Thailand, it is $7500. Cost of IVF treatment in India is just ₹51000 which approximately $700,you can get the world-class treatment done. Lesser cost does not always mean poor quality. This variation in cost is based on the cost of living in the country and the burden on the doctors. You also get world-class facilities and internationally trained doctors supporting you 24/7. Clinics also provide support for the visa, travel, and Forex exchange. We provide high-quality treatment with excellent success-rate at the most reasonable pricing.
ivf clinic in india
Check your insurance
Fertility treatments are not considered medically necessary so insurance companies and they do not usually cover them. But if you have a certain condition like endometriosis, polycystic ovarian disease, etc. that cause infertility, you may be able to get the insurance to pay for the treatment.
If you are still unable to get your insurance to cover it, see if your company offers some kind of employee benefit that allows you to use part of your pre-taxed income for medical uses that insurance provider won’t cover.
How to pay for IVF procedures
Among the top 10 IVF centers in Delhi Baby Joy IVF clinic allows you to pay through various payment options. You can make the payment online which speeds up and simplifies the procedure. We also allow you to pay in installments. Our costing and payment are highly transparent. We provide “World-class Yet Economical” IVF Fertility Treatment in Delhi.
Additional Offers Only for This Week on Cost of IVF in Delhi at Baby Joy
  • Spl. Discounted IVF Packages.
  • Easy EMIs available; Payment can be made in parts.
  • Register nw to avail cheap IVF Price, IVF Cost in Delhi & Start treatment later.
  • Your age, years of marriage & fertility history will help us guide you better on overall IVF Cost, Cost of IVF.
  • No Hidden Charges; No Expensive Tests; Transparent IVF Pricing.
  • Customized Packages available.
  • Money Back Guarantee
Watch - How to select an IVF centre
Smoking and Alcohol detox
Both smoking and alcohol reduce the success rate of IVF treatment. Smoking in men can lead to low sperm count and poor sperm quality causing miscarriage. Women can also face miscarriage due to smoking as it ages the eggs and depletes the uterus lining. Taking alcohol more than ten units a week also decreases the chances of successful IVF treatment.
Relaxation
Many studies have proved that stress adversely affects the results of IVF treatment. It messes up with your cycle timing and can reduce sperm count in males. Cortisol and other hormones secreted due to stress interfere with the implantation process. It may also lead to miscarriage. You can opt for activities like light yoga, meditation, spa, etc for relaxation. You should talk to your doctor and your partner about your apprehensions. Consult a professional counselor if needed.
Acupuncture
Acupuncture is a science that treats various health conditions by putting tiny needles precisely in your body. Presently it is one of the most preferred alternative treatments. Acupuncture is highly effective in managing stress. It enhances the blood flow to the reproductive organs and improves their function. Taking acupuncture sessions for three months before the embryo transfer can dramatically increase the chances of successful treatment.
All the couples who are commencing their journey of IVF may initially find it challenging and demanding. Although it is not completely untrue, a little research, precautions, and teaming with an excellent doctor and fertility clinic like the baby joy IVF can make it safe and smooth. Our doctors compassionately discuss the details of infertility and the procedure to be followed. We provide personalized care to all our patients and provide them both medical and psychological support.
Best wishes from Baby Joy If you are commencing their journey of IVF and find it challenging and demanding, you are not alone. Although the fear is not completely unjustified, a little research, precautions, and teaming with an excellent doctor and fertility clinic can make it safe and smooth. Find the best IVF doctor who compassionately discusses the details of infertility and the procedure to be followed. Personalized care and world-class medical and psychological support can ensure your success through the journey of IVF.
We understand, there cannot be a stronger human emotion than the desire ‘to have Your Little One!’ “Baby Joy” is our endeavour to be part of your journey towards parenthood.
It is our VISION to set benchmarks in the field of Fertility management globally, through cutting edge technology, most advanced treatment protocols, & a highly acclaimed team of doctors, embryologists & support staff.
It is our MISSION to achieve high success rates at lowest cost, through highly customised fertility care, internationally accepted protocols & best global practices. We strongly believe in bringing transparency & honesty to Fertility care in India. We carry out egg donation & surrogacy through our sister concern WSC. This makes Baby Joy a comprehensive Fertility Centre providing 360 degree fertility solutions under 1 roof. We are one of the few recognised professionally run healthcare centres in India. Baby Joy offers comprehensive Infertility, Surrogacy and Test Tube Baby Solutions in India
At Baby Joy, we strive to ‘touch your lives’ by helping you ‘create life!’
Hoping to transform your dreams into reality, your desires into accomplishments & your Hope into Joy !
Source URL:- https://www.babyjoyivf.com/13-ways-to-maximise-your-ivf-success-minimise-your-ivf-cost/
submitted by babyjoy1 to u/babyjoy1 [link] [comments]

What it Takes to Have a Forex Trading Career?

Foreign exchange currency market is a very volatile market. For new or beginner Bitcoin Revolution 2 Review currency traders who have not attended any foreign exchange trainings, fx courses or technical analysis classes before, it is very easy to lose a lot of money trading in the online forex market!There are many forex training courses being conducted, but you have to beware of those courses that only teach some forex strategies, or provide some forex signals or indicators to the students, but do not really equip these beginners with the necessary knowledge of the core fundamentals to forex trading. The situation is worse if the forex strategies are provided by unauthorized forex brokers.

A good forex course should cover the following:A scientifically proven and tested forex trading strategy. These fx strategies should have more than 60% to 70% winning chances in all the different market conditions. Also, these trading methods should have been back tested for a long period of time, with at least 5-10 years of scientific testing. Not many self-taught currency traders can afford to test their foreign exchange strategies with this approach due to the lack of facilities, expertise and resources.

An effective money or risk management system. Warren Buffet's number 1 rule on investment is "Do not lose your money!" It is very important to preserve your capital. A good forex strategy consists of good money management. Do not risk more than 5% of your capital on any one trade. If a forex trader has a forex strategy with 60-70% chances of winning out of 100 trades in the online currency market, the fx trader will win more and lose less if the same amount of money is traded all the time.Developing the right trading mindset. For adults, it is very difficult to learn through memorizing strategies, because adults learn by participation. In a good forex course, it would help to develop the right trader's mindset by having plenty of activities during the training course to reinforce the principles of trading.

Do not use the slow track method to learn although it is cheap, like listening to CDs, reading books or participating in foreign exchange forums. It could cost you an arm and a leg, if you try to trade and learn through trial and error. The fast track to success is to learn from a successful currency trader who has the passion to help beginner forex traders to trade for living and never work again.Get a good forex training course for a beginner forex trader. Register for free Forex Course in Malaysia worth USD48, and discover the power of forex.For the small investor there is only one way to trade Forex. Learn this simple trading method that works every time.My assumption for the purposes of this writing is that you the reader have at least a general knowledge of Forex and a bit of Forex trading experience. Also you know that Forex is the largest market on the planet, and although one can quickly make a ton of cash; one can also lose everything in less than a flash.

https://healthreviewfactory.com/bitcoin-revolution-2-review/
submitted by steffandevin11 to u/steffandevin11 [link] [comments]

WIBSON MARKETPLACE

WIBSON MARKETPLACE
https://preview.redd.it/i8fzp3rrp0h21.jpg?width=300&format=pjpg&auto=webp&s=7f9c28704785379fa35bedc7f4157cb8614d9978
Wibson is a blockchain-based, decentralized data marketplace that provides the infrastructure for individuals to securely and anonymously sell private information that is validated for accuracy. Wibson is built up on a set of core principles: transparency, anonymity, fairness, censorship resistant, and the individual’s ultimate control over the use of their personal information.
The Wibson data marketplace provides infrastructure and financial incentives for individuals to securely sell private information that is validated for accuracy, all without sacrificing personal privacy.The Wibson platform and utility token are giving consumers, for the first time, an easy way to get something back in return for the mountains of personal data they are continually creating.As a reminder to our users, your data remains on your device until you decide to share it, and only then is your data encrypted and sent directly to the Data Buyer. Wibson never receives consumers’ data nor stores it on our servers. The Wibson marketplace orchestrates the transactions based on the terms of the Data Buyers offer. Once a data transaction is confirmed through the blockchain-managed smart contract, you receive your payment in Wibson tokens directly to your Wibson token wallet.
Exchange:
the Wibson token (WIB) is now listed for trading on the BitForex exchange. Bitforex is a resource trading platform headquartered in Singapore with offices in Germany, Estonia, Hong Kong, Malaysia, and the Philippines, as well as other countries, and is dedicated to providing users with safe, professional and convenient digital currency trading services. Bitforex provides two-factor authentication (2FA) and IP detection on login to make sure that only the intended users can access the account balances.
This is second listing for the Wibson token since the Coinsuper debut last week and provides users with an additional pathway into the Wibson consumer data marketplace.
https://wibson.org/
https://t.me/wibsoncommunity
Bounty0x username: Itsify
submitted by Itsify to CryptocurrencyICO [link] [comments]

THE WIBSON PROJECT IS ALWAYS PROGRESSING:

Wibson combines the most promising online opportunities that make each of the platform user to benefit maximally. Some of these opportunities are as followings:
MarketPlace: You can buy and sell data in the Wibson Marketplace and earn/using WIB tokens.
Mobile App: The Wibson App is very simple to use and user friendly. Also, you can buy and sell data on the App and earn more WIB tokens.
WHAT'S NEW?
In just one month since the release of Wibson app and launched the Wibson data marketplace, this project already surpassed 5,000 data sellers. This is a very important milestone for Wibson and shows the tremendous interest individuals have in a secure and easy way to monetize their personal data. As its user base continues to grow, Wibson will attract more Data Buyers, providing Wibson users more opportunities to profit from their data.
Wibson has successfully launched in Uruguay. This is the fourth country where the Wibson marketplace is live, and the community there is fast growing.
The team of Wibson is pleased to announce that the Wibson token (WIB) is now listed for trading on the BitForex exchange. Want to know more about the BitForex exchange? Then read more below.
Bitforex is a resource trading platform headquartered in Singapore with offices in Germany, Estonia, Hong Kong, Malaysia, and the Philippines, as well as other countries, and is dedicated to providing users with safe, professional and convenient digital currency trading services. Bitforex provides two-factor authentication (2FA) and IP detection on login to make sure that only the intended users can access the account balances.
CONCLUSION
Wibson is saying thank you to all of the Wibson data sellers who have supported this project and shared valuable feedback to help improve Wibson.
I can tell you that Wibson is a nice Project that you would like to key into. Join its community Today and become WIB Token holder!
Useful Links to the Wibson project are given below:

WEBSITE: https://wibson.org/
TWITTER: https://twitter.com/WibsonOrg
REDDIT: https://www.reddit.com/wibson
FACEBOOK: https://www.facebook.com/WibsonOrg/
LINKEDIN: https://www.linkedin.com/company/wibson/


Bounty0x Username: hiboat
submitted by blessingsdrop to ICOAnalysis [link] [comments]

Andanar's and Ablan's ~~brain farts~~ speeches in London

Salamat the thread: https://twitter.com/JRDCastillo24
Andanar claims many families of OFWs become dysfunctional due to drugs.
Andanar claims that the govt spoke w/ 150 OFWs in Dubai who were maltreated by their employers. Dubai OFWs earn up to 1500 dirhams only.
Andanar: Most of you here in the UK are from middle class families. He said OFWs in London are lucky and have better wages.
  • ...
Andanar enumerated the latest SWS&PulseAsia surveys and said that Duterte is supported by a great majority of the Filipinos.
  • The SWS Survey showed a drastic drop in both approval and trust ratings for the president.
Andanar calls @TrillanesSonny & @SenLeiladeLima as “maiingay”. He asked: Bakit hindi nakukulong si Trillanes? Crowd erupts in laughter. Andanar claims that Trillanes is not in jail because Duterte respects his freedom of speech.
Andanar: Kung maingay si Trillanes, mas mag-ingay din tayo. Kung ginagago ni Trillanes ang pangulo, gaguhin din natin siya.
Andanar talked about planned destabilisation against the Duterte government and cited EDSA 1 & 2 as examples of destabilisation. Martin Andanar, head of the PCOO, calls EDSA 1 & 2 as destabilisation.
  • Uh. Ano daw ulit sinabi niya? Did he forget that EDSA 1 gave rise to Duterte in politics?
Andanar: Kaya nga kayo nag-Brexit di ba dahil wala na kayong tiwala sa EU? Hindi kami nakikialam sa EU, bakit sila nakikialam sa atin?
Andanar to EU: Bahala na sila sa buhay nila. Mag-iyot na lang sila. Crowd laughs and chants “Duterte! Duterte!”.
  • Pag kabastusan, si Duterte agad ang tinatawag. Bakit kaya?
Andanar: Napakagaling ng ating pangulo. Siya lang ang pangulo sa SEA ang naka-talo sa ISIS in 140+ days. Andanar claims that Duterte managed to defeat “ISIS & Maute” even though the terrorists were supported by ISIS in the middle east.
  • Thank you brave men and women of the AFP. Duterte didn't fire a single shot towards the Maute. And is in fact on record telling the Maute to burn Marawi
Andanar: Yung mga maiingay na pala-iyot, ang problema sa kanila hanggang ingay lang. Wala naman silang napatunayan.
  • ...
Andanar: Yung mga Prime Ministers and Presidents of other countries are all supportive of President Duterte.
  • Teka, diba galit kayo sa EU kasi nakikialam?
  • READ: Other countries = China.
Andanar: Yung mga nasa baba lang ang maiingay dahil nga kulang sila sa iyot.
  • ...
Andanar enumerates all SEA countries and said that all those countries have no complains about President Duterte.
Andanar: Donald Trump believes in President Duterte.
Andanar: Agrabyado tayo sa Western media. Wala tayong pera. Ayaw gumastos ni presidente sa PR.
Martin Andanar thanks Malcolm Conlan, an ambulance crew in the UK, for his support of President Duterte.
  • Libre yan, hindi katulad ke sass. Pero akala ko ba ayaw niyo ng may foreigner na nakikialam?
Andanar on @TrillanesSonny: Panahon pa ni Gloria, inaway niya. Inaway nyasi Angie Reyes. Walang nirerespeto si Trillanes.Aabutin din ng karma si @TrillanesSonny. Kakarmahin din yan. Yung kanyang bunganga, hindi talaga mapigilan.
  • Wag pahalata Andanar.
Andanar said the government is doing its best to reform the country for the betterment of all.
Andanar: Kapag mga dilaw at si tita Cory ang nag-RevGov, ok lang. Kapag ang gobyerno ngayon ang mag-RevGov, ayaw nila. Double Standards.
  • Wag tanga Andanar. The RevGov under Cory was a necessity, designed to bring the Philippines back to democracy after Marcos's Martial Law. Ilalagay mo ang powers na yan kay Duterte? Magisa ka.
Andanar claims that a lot of the problems the government is solving now like the MRT and Yolanda housing were made by the previous admin.
  • Which Duterte said was EASY TO SOLVE, tapang at malasakit (political will) lang ang kelangan.
Andanar claims P800k was used to build Yolanda houses while the current government spent only P200k for Marawi temporary housing.
Andanar: Mismanagement like Yolanda will not happen under this government.
  • So how is Duterte managing the War on Drugs? the MRT?
Andanar: 3k deaths are from legit police ops. 10k deaths, halo-halo na yan.
  • ...
Andanar: Bine-brainwash tayong lahat ng media sa ating paligid. They don’t want to believe the PNP. They have a different agenda.
Andanar: Media is turning a blind eye on the truth.They simply don’t like Du30. Liberal-left don’t want him, maybe they’re hiding something.
  • Ang daming tao ang "don't like Duterte." Natanong mo na ba sa self mo bakit?
Andanar hits Human rights groups. He claims they’re more concerned with the human rights of Maute and Hapilon.
  • ...
Andanar: Duterte doesn’t like legalisation of drugs. He doesn’t want the country to go to the dogs.
Andanar: Itong Human Rights, ayaw ipaglaban ang human rights ng mga pulis at sundalo. May kinikilingan ang human rights.
  • ...
Now it's Kris Ablan's turn.
Kris Ablan: Get your facts/news from PNA, PIA and PTV.
  • Diosko Lei, please reangle this!
Kris Ablan: @nytimes didn’t publish our point by point responses to the negative articles they wrote about President Duterte.
  • Maybe it's because the NYT doesn't publish lies? Baka lang ha, di ko sure.
Kris Ablan said that Press Attaches will be reactivated in London, US, Singapore and Middle East once they get the budget.
  • Fire Mocha and Badoy, para mas maraming ma-reactivate na press attaches.
Kris Ablan said that the govt is doing consultations across the country about federalism but the media isn’t reporting it comprehensively.
  • Kasi wala naman. Bakit di kayo magreport, di ba, PNA, PIA, and PTV. hahahaha Kahit state controlled walang reports di ba? Edi wala.
submitted by merdionesmondragon to Philippines [link] [comments]

70Trades: The Reason It’s good Broker You Can Invest With

70Trades: The Reason It’s good Broker You Can Invest With

https://preview.redd.it/uzcflkw6jbg21.jpg?width=548&format=pjpg&auto=webp&s=5cb31e0a472fe0a2a4d2e7bbdc0e7111fc7d982d
With the increasing number of scam brokers in the Forex industry today, it has become even more difficult to believe there could be any reliable broker to trust in the journey of trading online. It has not only made many lose their trust in the whole online trading thing but has also discouraged many away from it.
Does it mean there aren’t reliable brokers out there one can trust when the decision to invest online comes? How can you be sure a company is trustworthy before you choose them? When you have more control over your investments, how can you be sure you are making the right investment choices? If you don’t have a clear-cut answer to these questions, then having a broker like 70Trades will be a perfect decision you could ever make.
Either you are an active trader looking to try your hand at beating the market, or just starting out in the online trading journey, you probably have a good idea of what you want in a brokerage; low costs, innovative strategy, premium research and a comprehensive trading platform. What if I tell you that you can find all of this in just a broker? Yes. Now, you know why many people want to invest with 70trades.
So, let’s get into business. Let me tell you some things about 70trades to help you decide if you are going to be choosing 70trades or not.

What Exactly is 70Trades?
If you are going to be choosing your broker, you surely should know who they are. 70Trades is a website that acts as a forex broker. They have dedicated themselves to helping traders have the best experience trading online. Even without any knowledge, you can trade like a pro with 70Trades by your side (many of 70Trades reviews agree with this).
This is a very reliable broker every Forex trader will like to partner with – both beginners and the experienced ones.
One great thing that has also made them a go-to broker for beginners is their commitment to ensuring beginner investors have a good understanding of how online trading works to help them make the best decisions for themselves when the time comes.

Wonder Why They Are Called 70Trades?
These brokers are fully committed to making sure their clients succeed when trading with them, and this commitment has led them to discover that it takes around 70Trades to gain a better understanding of how trading works and become a more experienced trader. That way, it becomes easy for them to help their traders keep their money rather than lose it due to lack of knowledge in trading.
Most traditional robo-advisors do ask their clients some questions in order to help them build their portfolios. 70Trades takes this a step further by helping their traders refine their portfolios so that making the most from their investment could become a realizable dream.

Every Beginner Investor Wants to Trade with Them
Irrespective of your trading experience or level, 70Trades provides quality and educative online courses, training sessions, and one-on-one coaching for their users. It is one of the ways 70Trades get to educate their traders. There is more! They also provide different webinars with other investors throughout the whole world in the bid to provide help and support to their traders.

https://preview.redd.it/an8xzpiejbg21.jpg?width=800&format=pjpg&auto=webp&s=4cf3e325865e0e9bb5a872c9365236e568654ac6

70Trades Made Trading Much Easier
Either you have little or no experience about how online works, you can always count on 70trades. Not only is reaching 70Trades very easy and free, but they also offer 24/7 multilingual customer service to their users.
Withdrawing on the platform is super easy and traders have complete control and access to their accounts. To keep things simple and easy to use, they also offer one-click trading to cater for your trading needs right away.

How Protected Are You with 70Trades?
Of course, trading comes with many risks which is why protection cannot be taken for granted. In order to ease fears and keep traders from losing their hard-earned money, 70Trades offers some protections for their traders. A very good example of such ways they ensure the safety of your money is through their partnership with several banks.
They have verified RBI authorized banks as their partners. What this means is that deposit will be very easy and simple, and your capital will be separated from the company’s capital. Your money will be secure and there won’t be any need for paying large commission rates or deal with unnecessary intermediaries, of which many of them are fake and fraud.

70Trades Offers A Demo Account to Further Help Beginners Learn the Rope
70Trades also offers a demo account for people who just started training and are still learning and want to see how everything works. This type of account will allow you to practice your trading skills until you have fully mastered the rope – becoming an account manager. That way, you can build confidence and then move to the deep end of the pool once you are ready.

https://preview.redd.it/1h3kgxbhjbg21.jpg?width=740&format=pjpg&auto=webp&s=775f1b2ca38c398b28dc30040490926274f8d88d

What About Predicting Currency Behavior?
This is another thing that might interest you about 70Trades which will also help you be more assured they aren’t scam. They allow you to predict currency behavior so you can make smart investments. What this means is that it will help you calculate the value of the currencies you are trading with, so you will be able to buy when the price goes down and sell when the price is high. That is a pretty smart way to make a quick return on your money.

You Can Be Sure of Getting Your Needs Met
Unlike some traditional brokers that give up on traders immediately they go from being new and inexperienced to advanced or professional, 70Trades provides professional training courses and investor guides. That way, they offer a hand of help to traders as they move up the ladder even to investments that come with higher risk. 70Trades is not come scam, fraud, or fake. They are a very reliable broker every young trader can trust.

You can also give 70Trades a try
Even though there may be tons of shady brokers in forex trading and online trading today, you can always trust 70trades to help you get what you deserve out of trading. The broker already got lots of amazing reviews from satisfied users, and many won’t want to continue trading without having 70trades by their sides.
70Trades aren’t scam but a reliable online broker you can trust. They are licensed and committed to ensuring your success. They offer many great informative courses to help you get started and afloat in the game. You can learn more about this broker in this video.
submitted by Aditya207 to u/Aditya207 [link] [comments]

News Update - 08.02.18

1) Do you remember the B2BX Roadmap? Of course you do! Our company reputation, White Paper and Roadmap are the aspects most ICO participants pay attention to.
The roadmap for the B2BX ICO included options for action depending on the amount of funds collected.
🔥 Now it's time to present the actual B2BX development plan!
The B2BX Roadmap: https://medium.com/@b2brokeb2broker-past-present-future-f2876c406a7c
We marked on the map the most important events for the company, not just plans for 2018-2019, but a short review of the past. The most important events of the future, of course, are obtaining licenses, developing our own technologies and opening offices in strategically important locations on the financial map of the world. All this brings us closer to the moment when B2BX becomes Prime Broker in the market of cryptocurrency liquidity! Full version on Medium.
2) Integration with ONEZERO
We ordered the placement on servers of Equinix - LD4. This data center hosts the largest European banks and brokers. Given that B2BX will have a cross-connect with liquidity providers, the speed of obtaining prices from providers and the speed of execution of orders will be as high as possible! New working conditions with OneZero will reduce the cost of services for our customers and increase our attractiveness for new customers. Recall that in B2BX will be able to nominate margin accounts in any currency, including cryptocurrencies.
3) CRYPTOCURRENCY PAYMENT GATEWAY
There is also the possibility of accepting a B2B coin with zero commission. We have started integration with 10 merchants and have begun to develop a site for B2B coin, which will accumulate information about all crypto-brokers, exchanges and other customers that will start to accept the B2B coin for payment. As we launch each merchant, we will send out a newsletter. We have also implemented the support of tokens based on Ethereum standard ERC20. Now every merchant can start receiving any token/coin issued on the Ethereum platform. Please note that if you have a website, an online store, a broker company, crypto-exchange or a marketplace, and you want to expand payment methods you should connect B2Broker crypto gateway. To do this, you just need to select the cryptocurrencies from the list that you want to accept (BTC, BCC, ETH, LTC, DASH, XMR, B2B, BTG (bitcoin gold) and hundreds of tokens released on the Ethereum platform), provide purse addresses and make an easy integration with your site. In just an hour your customers will be able to pay for goods or services using cryptocurrency with low commission rates every day, free installation, no monthly fee, no freeze period, no banks and no any third intermediaries.
4) INVESTMENT PLATFORM
To date, this product is used by 11 brokers, two of which have become our customers this year. The investment platform allows brokers to popularize cryptocurrency trading products while customers have the opportunity to subscribe to the signals of professional traders and earn. Also for professional traders it is possible to create PAMM accounts or portfolios of cryptocurrencies. The IT department has redesigned the back-end platform to make the MT5 work more stable.
5) Work with clients
The B2Broker account department adjusts business processes to improve operational efficiency. For example, improving the interaction with the development department will positively affect the speed of working with customers. Of course, the number of our employees is growing, but we understand that without optimizing business processes, we can not build an effective company! We are expanding the product line and preparing knowledge bases to quickly train employees.
Our clients comprise 72 companies, 25 of which use B2Broker’s cryptocurrency solutions!
The team is also developing new standards of service which will correspond to the status of Prime Broker.
6) PLATFORM FOR ICO
To date, our platform for ICO has benefited 4 companies. Of course, all payments go through our crypto gateway leaving these companies to concentrate on their marketing. Such a collaboration has proved its effectiveness. Large ICOs prefer this model, choosing a solution that is ready, tested and constantly updated. A demo version is available by clicking on the link.
Oh, and by the way!
This week in Finance Magnates there was a press release about the opening of office in Malaysia. https://www.financemagnates.com/forex/technology/b2broker-extends-asian-expansion-malaysian-office/
🔜 In mid-May, a summit on blockchain technology will take place in New York. https://www.coindesk.com/events/consensus-2018/sponsors/
submitted by b2bx to u/b2bx [link] [comments]

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