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DATE: 08 DECEMBER 2017
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THE STOCK : SAPNRG - Sapura Energy Berhad (RM0.965)
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Target Price : RM1.10 (immediate)
Warrant : SGT members ONLY
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WHAT KIM SAY?
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"Nothing to say much.. watch and see.. hows good their plans! Today change -20.3% ,,soon who knows..will give you back 30-50% .." - Kim Spartan
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THE PROFILE
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Sapura Kencana Petroleum Berhad, is an integrated oil and gas services and solutions provider. Formerly, Sapura-Kencana Petroleum Berhad, the company is engaged in providing end-to end solutions and services to the upstream petroleum industry and covers services in the area of development and production, drilling, EPCIC, marine services, operations and maintenance. SapuraKencana has business in Malaysia, China, Brazil, America, and the Middle East.
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THE KEYNOTE (Jan - current 2017)
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2017
Sapura Energy Bhd has bagged five contracts worth a combined RM1.47 billion.
Despite a view that many Malaysian oil and gas (O&G) companies are not out of the woods yet following the 2014 collapse in oil prices, investor interest in some companies remains strong.
Sapura Energy Bhd is expected to be more aggressive in bidding for new jobs from next year after getting full ownership of the heavy-lift and pipelay vessel Sapura 3000, said analysts.
Sapura Energy Bhd and Subsea 7 SA have mutually agreed to discontinue the SapuraAcergy joint venture.
Sapura Energy Bhd’s net profit plunged 74.23 per cent to RM28.93 million in the second-quarter ended July 31, 2017 from RM112.27 million in a year ago.
Upstream oil and gas service provider Sapura Energy Bhd, which has secured new jobs worth RM6.3 billion this year, expects activity levels to remain subdued in the near term and competition to remain intense, despite a rebalancing of supply and demand dynamics triggering a return in investment appetite.
If 2016 was a year of tough decisions for the oil and gas (O&G) industry, then 2017 could be the road to recovery, says Deputy Prime Minister Datuk Seri Dr Zahid Hamidi.
Sapura Energy Bhd’s (SEB) wholly-owned Australian unit Sapura Energy Australia Pty Ltd has completed the Shell Prelude Light Well Intervention (LWI) Campaign-Plug Removal Activity for Shell Australia Pty Ltd in Western Australia in the Browse Basin in Western Australia.
Malaysian player keeps plans for start-up of domestic offshore gas field on track.
- SAPURA ENERGY SCORES USD$206 MILLION IN NEW OFFSHORE CONTRACTS
Malaysian offshore contractor Sapura Energy Berhad, formerly known as Sapura Kencana, has secured four separate international contracts worth around USD$206 million.
Sapura Energy Bhd, Malaysia's largest oil and gas service provider, said it was beginning to see interest building in upstream projects following sharp rollbacks in recent years from lower oil prices.
Sapura Exploration & Production is the quiet achiever of the Malaysian upstream sector, staying out of the spotlight while it progresses its plan to become a major gas producer.
Sapura Energy Bhd’s earnings turnaround for the full year of financial year 2017 (FY17) has caught several research houses by surprise.
Sapura Energy Bhd, formerly known as SapuraKencana Petroleum Bhd, has posted a pre-tax profit of RM385 million for financial year ended Jan 31, 2017 (FY17), compared with a pre-tax loss of RM713 million a year ago.
SapuraKencana Petroleum Bhd has been awarded four engineering and construction contracts with a total value of about US$97.4mil (RM433.4mil).
SapuraKencana Petroleum Bhd has signed a seven-year multi-currency financing facilities of about US$1.5 billion, equivalent with a consortium of Malaysian, regional and international banks.
SapuraKencana Petroleum Bhd and global technology services firm Proserv are joining forces to provide enhanced technology services offerings to clients in Asia Pacific.
SapuraKencana Petroleum Bhd has bagged five contracts totalling US$300mil or RM1.34bil including to provide its underwater services, offshore installation work and rigs.
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THE FINANCIAL
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THE SHAREHOLDING CHANGES
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Regards,
Kim Stockwatch
Telegram : https://www.telegram.me/kimstock (Real live time trading)
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