Bursa Malaysia Stock Watch
SapuraKencana Petroleum: Maintain Buy - Arbitration Proceedings Against ONGC
kltrader
Publish date: Mon, 24 Sep 2012, 10:02 AM
kltrader
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- Reiterate BUY, TP of MYR2.68. SapuraKencana is seeking claims of USD124m plus INR1.06t (totaling MYR440m) from ONGC for a job undertaken in 2006. This case is currently being pursued through the arbitration procedure. We maintain our earnings forecasts and TP for now, on 20x CY2014 EPS.
Source: Maybank Research - 24 Sep 2012
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