Bursa Malaysia Stock Watch
AmResearch maintains overweight on O&G sector
kltrader
Publish date: Wed, 13 Oct 2010, 03:30 PM
kltrader
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AMRESEARCH has maintained it overweight recommendation on oil and gas (O&G) sector after the US government lifted the moratorium on deepwater drilling before its original Nov 30 deadline.
It said while this was positive news for global offshore operations, the momentum for fresh orders was brighter in Malaysia given Petroliam Nasional Bhd's (Petronas) capex rollout, which it estimates could amount to over RM10 billion over the next six months.
"Hence we maintain our overweight view on the sector with buy calls on SapuraCrest, Kencana Petroleum, Alam Maritim Resources and Petronas Gas," it said.
It said while this was positive news for global offshore operations, the momentum for fresh orders was brighter in Malaysia given Petroliam Nasional Bhd's (Petronas) capex rollout, which it estimates could amount to over RM10 billion over the next six months.
"Hence we maintain our overweight view on the sector with buy calls on SapuraCrest, Kencana Petroleum, Alam Maritim Resources and Petronas Gas," it said.
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