Affin Hwang Capital Research Highlights
Alam Maritim: Alam secured US$10m contract
Alam Maritim has secured a contract from a local oil & gas services company for the provision of demobilisation of a floating storage facility for a total contract sum of US$9.6m (RM31.7m). The contract is expected to commence on 6 October 2014 until 15 November 2014. (Source: Bursa Malaysia)
Comment: We are positive on the contract win – it is Alam’s first major offshore installation and construction (OIC) contract win in 2014. That said, the contract value is within our 2014E OIC contract win assumption of RM50m and hence, no changes to our earnings forecast, BUY rating and price target of RM1.82.
Source: Affin Hwang Capital Research - 4 Nov 2014
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