Bursa Malaysia Stock Watch

SapuraKencana Petroleum: Maintain Buy - Growing contract wins

kltrader
Publish date: Fri, 10 Aug 2012, 09:43 AM
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SKPETRO: Maintain Buy - Growing contract wins
  • Maintain BUY. SapuraKencana has won a MYR106m HUC services contract from Kebabangan Petroleum Operating Company Sdn Bhd (KPOC).
  • This new job raises its order book by 7% and provides extended earnings visibility. We expect the group to be a major winner from PETRONAS's domestic E&P capex programme, which should ramp up in 2H12.
  • Our MYR2.68 TP pegs the stock to 20x FY1/14 EPS, supported by its robust growth prospects and lean balance sheet.
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Source: Maybank Research - 10 August 2012
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