Bursa Malaysia Stock Watch
Oil & Gas: Maintain Overweight - PETRONAS' 1H12 Report Card
kltrader
Publish date: Mon, 10 Sep 2012, 09:31 AM
kltrader
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- A challenging period ahead. PETRONAS anticipates a weaker 2H12 performance vis-''-vis 1H12 on domestic and global headwinds. As a result, it may miss its FY12 pretax profit target of MYR90b and its MYR30b dividends payment to the Government. Also, it plans to reduce its payout ratio to a more reasonable 30% from 2013 to support its long-term capex plans and sustain growth. We remain positive on the service providers. Overweight.
Source: Maybank Research - 10 Sept 2012
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