INVESTMENT HIGHLIGHTS

• Sapura Energy secured contracts worth RM760m

• Contracts won for its drilling and E&C segments

• Contracts are for both the Angolan and Malaysian waters

• Earnings estimates for FY19-20F maintained

• Maintain Trading Buy with an unchanged TP of RM0.60

New contracts secured worth RM760m. Sapura Energy Bhd’s (SEB) announced that it has secured several contracts and contract extensions worth approximately RM760m. The contracts secured are for its drilling as well as; engineering and construction (E&C) segments which brings its total contract wins for the current FY to RM9.3b.

Source: MIDF Research - 8 Jan 2019