Journey to Wealth
Sapurakencana Petroleum Bhd- Secures USD9.2m Rig Contract Extension
THE BUZZ
SapuraKencana Petroleum (SKPETRO) announced on Bursa Malaysia yesterday that it has secured a three month extension for the utilization of its self-erecting tender rig, the T-6, valued at approximately USD9.2m (RM28.1m) from Carigali Pttepi Operating Company and Carigali-Hess Operating Company.
OUR TAKE
More about the contract. The contract was initially awarded to SKPETRO for a duration of 28 months commencing 21 Dec 2010, with an option for two three-month extensions. The extension of the contract will be for 3 months commencing 21 April 2013 till 20 July 2013.
No change to our earnings forecast. Assuming a net margin of 10%-15%, the impact to our earnings forecast is minimal at <1%. We are therefore retaining our FY14 forecast.
Maintain BUY. We continue to like SKPETRO, one of our top oil and gas (O&G) picks, and value the stock at RM2.88, pegged to 20x FY14 EPS. We believe the company is poised to beef up its orderbook further in 2H12 as Petronas is expected to dish out more contracts very soon.
Source: OSK
More articles on Journey to Wealth
Ekovest: No plan to launch another offer for Iskandar Waterfront City
Created by kiasutrader | Mar 29, 2018
Kenanga Research - On our Portfolio - Parliament dissolution around the corner?
Created by kiasutrader | Mar 25, 2013
Plantation Sector - Proposed accounting standard scrapped OVERWEIGHT
Created by kiasutrader | Mar 25, 2013
Pavilion Reit - Limited upside, earnings upside have been priced in HOLD
Created by kiasutrader | Mar 25, 2013
Discussions
Be the first to like this. Showing 0 of 0 comments
Post a Comment
Featured Posts
Introducing MY's First IPO Fund for Sophisticated Investors!
New Update. Discover investment communities that resonate with your ideas
M & A Value Partners IPO Equity Fund has been launched - Targeted 13% Return p.a
Latest Videos
Apps
Top Articles
2
3
BFM Podcast
4
5
BFM Podcast
6
Koon Yew Yin's Blog
CPO price is rising rapidly as shown by chart below - Koon Yew Yin
7
Axcapital's investment blog
KAB - Executing its way to a record quarter. Could more Petronas contracts be coming?
8
Mercury Securities Research
#
Stock
Score
Daily Stocks
Stock Name
Last
Change
Volume
Stock Name
Last
Change
Volume
Stock Name
Last
Change
Volume
MQ Trading Signals
Stock
Time
Signal
Duration
No trading signals available.
Stock
Time
Signal
Duration
No trading signals available.
Featured Advertisers / Partners
Ride The Bull Short The Bear
CS Tan
4.9 / 5.0
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
