Bursa Malaysia Stock Watch

SapuraCrest Petroleum (Buy): Lands a USD100m subsea job in Vietnam

kltrader
Publish date: Wed, 11 Jan 2012, 09:24 AM
kltrader
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Regional aspiration shaping up. JV SapuraAcergy's recent win of a USD100m subsea construction job is a positive and should contribute about 6% to FY12 net profit (pre-merger). The merger with Kencana is on track, and we expect the Newco to secure more local jobs this year, which could include a new marginal field Risk Sharing Contract (RSC). Maintain Buy with a RM5.60 target price.

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