If the Malaysia's fund managers support the new issuance of shares, Perisai may continue uptrend after quarter result out by 2-3pm.

Buybackma, I am not being inform the buy up from HK.

I believe it is from Malaysia's fund managers after Perisai spoke with them that Perisa might issue new shares to EOC for Levek Ar at range of RM1.60 to RM1.68 per share.

Alam will annnouce more project soon from Petronas or SapuraKencana.

A fund manager started to accumulate since last week.

Market talk, Alam will reach RM0.78 in near term.

Market Talk, Perisai intend to issue share to EOC for the Lewek Arunothai at RM1.60. Will they push it up?

Many people selling at RM1.14 and RM1.15. After all this selling, next level likely to reach RM1.20

October a boom month for O&G contracts

Oil and gas sector

Maintain positive: Year-to-date (YTD) more than RM8 billion worth of contracts have been awarded to locally listed oil and gas (O&G) players. In October, about RM363 million worth of new jobs were awarded, down by close to 50% month-on-month, to Bumi Armada Bhd, SapuraKencana Petroleum Bhd and Alam Maritim Resources Bhd.

With nine contracts awarded, October saw the highest number of contracts in one month for the year, a similar number to June’s. However, most contracts were for the charter of anchor handling tug supply vessels, and barges which are smallish in value.

The fourth quarter of calendar year 2012 (4QCY12) has kicked off on a positive note with a good number of contracts, albeit small in value. We are anticipating that many more contracts will be dished out until year-end, coupled with positive corporate exercises, which we are already seeing in early November from SapuraKencana.

The investment community’s dream of a floating production, storage and offloading (FPSO) job was not disappointed as Bumi Armada had secured an extension for its Armada Perkasa FPSO in Africa.

Contracts under the Pan Malaysia HUC (hook-up and commissioning) umbrella project, which were called for tender in July, are also being dished out. The umbrella project worth in the region of RM10 billion is made up of nine HUC contracts which will benefit many local HUC players. Key beneficiaries include Dayang Enterprise Holdings Bhd, SapuraKencana and Petra Energy Bhd.

SapuraKencana has won underwater servicing jobs worth RM700 million for a few of Petroliam Nasional Bhd’s (Petronas) O&G offshore assets. In addition, the North Malay Basin, which has seen a commitment of RM16.4 billion from Petronas and Hess Oil and Gas Sdn Bhd, is likely to see some awards being dished out.

Further north of that region is the Thai-Malaysia Joint Development Area, where we are already seeing contracts awarded. SapuraKencana recently won an engineering, procurement, construction and commissioning job for the Kamelia-A wellhead platform there.

Local exploration and production has also borne fruit, with Petronas and Sweden-based Lundin Oil striking oil off Pahang, the first strike in the state. Production is estimated to be around 20,000 barrels per day and production will likely begin in 3QCY14. The field is located in block PM307 of the Bertam field.

YTD, more than RM2 billion worth of contracts have been awarded by Petronas subsidiaries and more than RM6 billion worth of jobs by foreign-owned companies. For October, 92% of total contracts awarded were from private entities (non-Petronas sources).

We maintain our “positive” conviction on the local O&G sector, riding on the impending award of contracts to further spur the industry. With the support of Petronas’ capital expenditure commitment along with jobs in the global arena, we believe the local O&G players will likely see more action in the coming months.

— MIDF Research, Nov 12

RATIONALE FOR CONSTRUCTION OF JACK UP RIG

This a transaction of a revenue nature in the ordinary course of business of the Company. The Jack-Up Drilling Rig is expected to facilitate Perisai’s entry into the offshore drilling segment specifically in Malaysia and broadly in the Asia Pacific region.

The Jack-Up Drilling Rig would also broaden Perisai’s asset offering to its clients and together with its other marine assets, expands its participation in the offshore oil and gas value chain by integrating key strategic assets within its stable capable of servicing the upstream exploration, development and production phases of offshore oil and gas field development.

The Jack-Up Drilling Rig is expected to be delivered by the end of July 2014.

Market talk was that Perisai might announce rig contracts very soon.

NEW TARGET PRICE: NOT INCLUDED THE CONFIRMED FPSO YET.
Date CP TP Change %
19/11/2012 1.12 1.48 +0.36 (32.14%) BUY KENANGA
19/11/2012 1.12 1.57 +0.45 (40.18%) BUY CIMB

HK fund managers completed 3rd batch of share buying.

We refer to our announcement of 8th May 2012 on the construction of a Pacific Class 400 Jack-Up Drilling Rig (“Jack-Up Drilling Rig”).
Perisai Petroleum Teknologi Bhd (“Perisai”) is pleased to inform of the appointment of KCA DEUTAG as the drilling operations and maintenance contractor of the Jack-Up Drilling Rig.

Perisai’s wholly-owned subsidiary, Perisai Drilling Sdn Bhd, today entered into a Master Services Agreement with Global Tender Barges Drilling Sdn Bhd (“GTB”), a company within the KCA DEUTAG Group. The agreement appoints GTB as the drilling operations and maintenance contractor for the Jack-Up Drilling Rig which is slated for completion and delivery in July 2014.

KCA DEUTAG is one of the world’s leading drilling and engineering contractors. It operates more than 100 drilling rigs in over 22 countries employing 8,000 people in Africa, Europe, Russia, Middle East, the Caspian Sea and South East Asia. KCA DEUTAG owns a fleet of more than 60 land rigs, 3 jack-ups and 3 self-erect tender barges and is also the largest global platform drilling company with more than 35 contracts. Recently, KCA DEUTAG has been awarded significant offshore and onshore contracts. Particular highlights include multimillion dollar agreements in Europe and Africa as well as entry in the dynamic Iraqi and Brazilian oil and gas markets.


This announcement is dated 16 November 2012

3Q results preview by CIMB

Perisai is likely to post a net profit of RM23m-26m, equivalent to 155-189% yoy growth. On our estimates, Perisai is set for a record year. Much of the growth is expected to have come from wholly-owned Garuda’s mobile offshore production unit (MOPU). The growth will also reflect higher contributions from the wholly-owned pipelay barge Enterprise 3 and 51%-owned Intan Offshore, which owns eight vessels. FY12 will mark the first full-year contributions from Intan and Garuda, which were acquired in Aug 2011 and Jan 2012, respectively.

Accumulate the stock aggressively ahead of the release of 3Q results. Perisai offers the most attractive share price upside and the cheapest FY12-14, P/Es of 8-10x in oil & gas portfolio. Its very robust three-year EPS CAGR of 113.5% is the highest in
the sector at more than 5x the sector average of 20.7%.

Second jack rig plan to announce by end of 2012.

This two annoucements can lift Perisai above RM1.23

Negotiations with EOC likely to conclude by end 2012. Potential earnings increment of MYR27m-36m p.a.,

This would be a major catalyst for the stock too.

The next immediate catalyst for Perisai would be the announcement of a new contract win for its new USD208mn jack-up rig which is targeted for delivery in July 2014.

Perisai is also a strong contender for marginal field Risk Service Contract (RSC) bids given that its fleet of assets comprises vessels that are widely used in marginal field.
development, including FPSO, MOPU and OSVs.

Hold your horse and wait for RM1.28.

Once Perisao finalise the % of ownership of FPSO, target price will upgrade again. Next week result will another push. Dont remember the rig project which complete in another 7 months, another push too.

HK fund managers..

OCBC might continue to sell due to restructuring of their portfolio since last few months.

Some people willing to have 5% gain, some people who bought at RM1.04 in last week may sold today because they holding at RM1.04 for quite some week. Some people at HK is buying and believe want to gain 50%.

HK managers taking all from public at RM1.10

Perisai is not index link counter.

Perisai FY14 net profit will see another jump (excluded FPSO) when Perisai accepts delivery of its first jackup rig (expected by mid-14) to Sembcorp Marine’s subsidiary at cost US$208mil (RM635.86mil). The contract, signed through its subsidiary Perisai (L) Inc with PPL Shipyard, is for a rig construction expected to be completed and delivered by the end of July 2014.

FY2014 is a good financial year for Perisai.

More on the announcement
The contract for the provision and lease of the FPSO unit is secured by Larizz on behalf of the principal, EOC. Oslo-listed EOC is a Singapore-based FPSO and offshore construction contractor. It is a unit of Ezra which has a 17.3% stake in Perisai.
Perisai holds a Petronas license through Larizz, in which it has a 40% stake. Perisai’s managing director Izzet Ishak owns the remaining stake in Larizz. He and Dato’ Dr. Mohamed Ariffin Aton, chairman of Perisai, serve as the directors of Larizz.
EOC is the owner of Lewek Arunothai the FPSO unit that will be the main asset for Hess’s production solution at the North Malay Basin. The contract is for three years with extension options of up to three years. The FPSO unit, which will be used to support early production activities, is targeted to be at project site in mid-2013 after undergoing an upgrade in Singapore. The
contract has a value of US$272m for the primary charter, with the potential of another US$271m if the full extension is exercised.
Assuming a 2% agency fee, Perisai is set to book an annual net profit of RM5.4m. However, the bigger prize is in the equity ownership of the FPSO unit, which is set to enjoy a steady income for up to six years. To this end, Perisai has started talks with EOC for the proposed acquisition of a stake in the FPSO unit by Perisai. The terms have yet to be finalised. If Bumi Armada’s earnings model is any guidance, Perisai could realise annual net profits of RM19m on the FPSO unit assuming the company: 1) owns a minimum 30% stake in the unit, and 2) pays a 25% statutory tax rate.

The FPSO unit would be Perisai’s 11th asset. Currently, the company owns eight marine support vessels, a pipelay barge and a mobile offshore production unit.

Perisai has secured an agency contract to operate an FPSO unit in the North Malay Basin on behalf of EOC. But the bigger prize is in the potential equity ownership of the FPSO unit, which could give Perisai access to a 3-year US$272m deal, not inclusive of extension options.

Ekuinas sells stake in Tanjung Offshore. (The Star, 14 Nov 2012)

Ekunas took profitable assets from Tanjung and now leave Tanjung alone.

OTHERS LETTER OF AWARD FOR THE PROVISION, LEASE, OPERATION AND MAINTENANCE OF AN FPSO FOR THE EARLY PRODUCTION SYSTEM OF A DEVELOPMENT BLOCK SITUATED AT THE NORTH MALAY BASIN, MALAYSIA
PERISAI PETROLEUM TEKNOLOGI BHD

Type Announcement
Subject OTHERS
Description LETTER OF AWARD FOR THE PROVISION, LEASE, OPERATION AND MAINTENANCE OF AN FPSO FOR THE EARLY PRODUCTION SYSTEM OF A DEVELOPMENT BLOCK SITUATED AT THE NORTH MALAY BASIN, MALAYSIA

Please refer to the attachment for further details.

Attachments
PERISAI-announcement(14112012).pdf

Announcement Info
Company Name PERISAI PETROLEUM TEKNOLOGI BHD
Stock Name PERISAI
Date Announced 14 Nov 2012
Category General Announcement
Reference No CC-121114-61130

Perisai wins RM833mil job
The Star, Thursday November 15, 2012


The FPSO contract awarded to its unit Larizz

PETALING JAYA: Perisai Petroleum Teknologi Bhd has clinched a contract to provide and lease a floating production storage and offloading facility (FPSO) and related operations including maintenance services for Hess Exploration and Production Malaysia BV's development block at the North Malay Basin.

The contract was awarded to Larizz Petroleum Services Sdn Bhd in which Perisai has a 40% stake and is valued at US$272.1mil (RM833.3mil) with a potential of an additional US$271.1mil (RM830.24mil) should a full extension be exercised.

This contract is expected to contribute positively to Perisai's financial position for the periods comprised in the duration of the contract.

Perisai said that its managing director Zainoal Izzet Ishak is also a director of Larizz and holds 60% of Larizz's issued share capital. The company also noted that Ezra Holdings Ltd through Emas Offshore (M) Sdn Bhd and HCM Logistics Ltd which holds 16% of Perisai's issued share capital also owns 45.7% of the EOC Ltd Group.

EOC Ltd is a Singapore-based FPSO and offshore construction contractor listed on the Oslo Stock Exchange in Norway.

EOC is an oil and gas construction and production services company that supports the post-exploration phases of offshore oil and gas fields' life cycle.

Larizz, which acts on behalf of the principal for this project EOC Ltd and its group of companies, is the owner of the Lewek Arunothai, the FPSO that will be the main asset for the production solution for Hess, a filing with Bursa Malaysia showed.

“The terms of the letter of award provide for a firm charter duration of three years with an extension options for up to three years.

“It will require the Lewek Arunothai to be deployed, operated and maintained as part of a fast-track gas production project in the North Malay Basin, Malaysia,” Perisai said.

The Lewek Arunothai was delivered as the EOC's inaugural FPSO vessel in 2008 and had recently concluded its contract with PTT Exploration and Production Public Company Ltd, Thailand's national oil firm in Nov 2011.

BUSINESS TIMES
Published November 14, 2012

Ezra's EOC clinches US$272.1m deal from Hess E&P
ByLee Meixian print |email this article Ezra Holdings' production division, EOC Limited, has secured its first award worth US$272.1 million (S$) from Hess Exploration and Production Malaysia B.V..

This is for the charter of the group's floating, production, storage and offloading (FPSO) vessel, the Lewek Arunothai.

The deal was clinched through EOC's Malaysian agent, Larizz Petroleum Services Sdn Bhd.

Ezra, announcing the contract win on Wednesday, said the letter of award (LOA) will deploy the FPSO Lewek Arunothai on a three-year fast-track gas production project in the North Malay Basin, Malaysia.

EZRA ANNOUNCEMENT ON 14 NOV 2012

Ezra’s EOC secures award from Hess for its FPSO Lewek Arunothai
 Win for EOC Limited, Ezra’s Production arm, has a value of US$272.1 million (firm contract) with the potential of another US$271.1 million should the full extension be exercised
 Letter of Award for the lease of FPSO Lewek Arunothai for a three-year period with extension options of up to three years
 Award underscores Ezra’s competitiveness in the global offshore O&G sector
SINGAPORE  14 November 2012
The production division of Ezra Holdings Limited (‘Ezra’, the ‘Group’ or 以斯拉控股), EOC Limited (EOC), has secured via EOC’s Malaysian agent, Larizz Petroleum Services Sdn Bhd, its first award from Hess Exploration and Production Malaysia B.V. (‘Hess E&P Malaysia’) for the charter of the Group’s Floating, Production, Storage and Offloading (FPSO) vessel, the Lewek Arunothai.
EOC is the 45.7% owned associate company and production division (EMAS Production) of the Group.
Hess E&P Malaysia, is part of a global energy group that is engaged in oil & gas (O&G) exploration and production as well as refining and marketing of refined petroleum products, natural gas and electricity.
The Letter of Award will deploy the FPSO Lewek Arunothai, on a three-year fast-track gas production project in the North Malay Basin, Malaysia. The FPSO will be used to support early production activities and is targeted to be on station from mid-2013.
The award has a firm value of US$272.1 million for three years with the potential of another US$271.1 million should the full extension of three years be exercised.

Ezra’s FPSO Lewek Arunothai Chartered Out to Hess E&P Malaysia
Posted on Nov 14th, 2012

The production division of Ezra Holdings Limited, EOC Limited (EOC), has secured via EOC’s Malaysian agent, Larizz Petroleum Services Sdn Bhd, its first award from Hess Exploration and Production Malaysia B.V. for the charter of the Group’s Floating, Production, Storage and Offloading (FPSO) vessel, the Lewek Arunothai.

EOC is the 45.7% owned associate company and production division (EMAS Production) of the Group.

Hess E&P Malaysia, is part of a global energy group that is engaged in oil & gas exploration and production as well as refining and marketing of refined petroleum products, natural gas and electricity.

The Letter of Award will deploy the FPSO Lewek Arunothai, on a three-year fast-track gas production project in the North Malay Basin, Malaysia. The FPSO will be used to support early production activities and is targeted to be on station from mid-2013.

The award has a firm value of US$272.1 million for three years with the potential of another US$271.1 million should the full extension of three years be exercised.

Mr Lionel Lee, Group Managing Director of Ezra, said: “We are delighted that Hess has given us this vote of confidence. This win is proof of our competitiveness in the offshore production business in Asia. For EOC, this award will improve its earnings visibility and expand its client base.”

The Lewek Arunothai is expected to undergo refurbishment works in Singapore to further enhance her operational capabilities. Part of the upgrade includes the addition of an external turret mooring system which is being designed and fabricated in part by the Group’s turret design company, London Marine Consultants Limited, and TRIYARDS Holdings Limited, Ezra’s engineering and fabrication division, which was listed on the SGX-ST by way of introduction via a dividend-in-specie on 18 October 2012.

PERISAI WILL ACQUIRE FPSO VESSEL FROM IT SHAREHOLDER EZRA TO USE FOR PROVIDING SERVICES TO NORTH MALAY BASIN BECAUSE SOME LOCAL PARTICIPATION IS REQUIRED FOR JOBS FROM PETRONAS.

We foresee Perisai, in partnership with Emas Offshore, bagging Hess’ FPSO charter for the Kamelia field. Its FPSO Arunothai, currently undergoing refurbishment works in Singapore, should be ready to meet its Jul 2013 work commitment. Unless the job is re-tendered, no FPSO is available in the market to meet this deadline. Our back-of-the-envelope calculation suggests a potential earnings increment of MYR27m-36m p.a., based on: (i) a 50% stake in the USD400m asset, (ii) 70:30 debt:equity financing, and (iii) 15-20% ROE. This would be a major catalyst for the stock.

To focus on production and drilling. In future, Perisai will only enter into contracts requiring asset ownership if the job meets its internal project IRR of 15%, and will cap its gearing at sub-2x. Operations will be Malaysia-focused as it capitalises on import-substitution demand for Malaysian-owned assets and services. We are confident that Perisai will secure a charter for its jack-up drilling rig, scheduled for delivery in Jul 2014, as it rides on the import-substitution effect. Of the 15 jack-up rigs operating in Malaysia, only one is locally owned.

Maybank 14 Nov 2012

HK fund managers accumulated another batch of 3,105,600 shares last week.

Andrew, i unable to upload here.

FPSO CONTRACT......By Maybank
We foresee Perisai, in partnership with
Emas Offshore, bagging Hess’ FPSO charter for the Kamelia field. Its FPSO Arunothai, currently undergoing refurbishment works in
Singapore, should be ready to meet its Jul 2013 work commitment.
Unless the job is re-tendered, no FPSO is available in the market to meet this deadline. Our back-of-the-envelope calculation suggests a potential earnings increment of MYR27m-36m p.a., based on: (i) a 50% stake in the USD400m asset, (ii) 70:30 debt:equity financing, and (iii) 15-20% ROE. This would be a major catalyst for the stock.

Perisai3Q12 results due on 20 November.Optimistic about its chances of securing a Malaysia-based FPSO charter contract by 2012, which would significantly boost its earnings and target price. Perisai bag this job. An emerging growth stock with multiple growth catalysts, Perisai remains one of preferred small-cap O&G plays.

Maybank Investment Bank started to cover Benalec. Benalec may under more investors radar soon.

Benalex Holdings Berhad is confident of striking a deal to develop the first 250 acres of prime seafront land in south Johor within the next few months, following recent the recent signing of a Development Agreement (DA) with the Johor government.
Benalec is reportedly in negotiations with several foreign tank farm operators from Middle East, Europe and China. In fact, Benalec may accelerate reclamation of Tanjung Piai by the second half of 2013 with 500 acres, doubling its present target if it secures two or three major offtakers.
The DA seals Benalec’s exclusive rights to reclaim/develop 5,485 acres of prime seafront land in Tanjung Piai and Pengerang into an oil hub.
Benalec’s Pengerang landbank may be included in Petroliam Nasional Berhad’s master plan for its refinery and petrochemical integrated development.

Anytime now

Dato LXXX is happily accumulate it.

Profit taking after Alam stay at RM0.71 tp RM0.73 for more than a week.

Indicators

1) Trendline - Broke above the Uptrendline (Bullish)
2) Support/Resistance - Formed higher low (Bullish)
3) MACD -4R3G (Bullish)
4) RSI - Broke above 50% (Bullish) .If breaks above 70% will indicate more bullish
5) STO - Bullish Crossover and broke above 20%(Bullish).
6) Ichimoku - a) Above support cloud (Bullish).
b) Conversion line above the base line (Bullish).
c) Price above the baseline ( Bullish)
7) Candlestick - Matching High. ( Bearish ).
8) Pattern - Symmetrical Triangle with declining volume

Conclusion:
Bullish -
E ( Entry) :1.08 ( Closed at or above it)
S ( Stop Loss) : 1.04
P ( Profit) :1.18
RRR (Risk to Reward Ratio) = 2.5 (Rewarding)


E ( Entry) :1.08 ( Closed at or above it)
S ( Stop Loss) : 1.04
P ( Profit) :1.21 (Breakout Symmetrical Triangle)
RRR (Risk to Reward Ratio) = 2.5 (Rewarding)

Long term RM1.13

Short term TP RM0.80

Perisai might annouce quarter results and project of FPSO together.

Good result coming out soon.

Foreign inflows continue
Amid the narrowing of the current account surplus, the inflows of capital, including FDI, sustained the reserves accumulation. Foreign purchases of Malaysian equities amounted to RM1.4bn in Oct (vs. RM1.3bn in Sep), the fourth straight month of net buying, bringing cumulative net buying of equities to RM13.2bn this year. This is substantially larger than the meager RM0.5bn a
year ago. Part of these inflows was attracted by the listing of giant IPOs.

Benalec specialised niche in marine construction has been reaping high profit margins in the generally low-margin construction industry. Now, the company is also shaping up to be a major landowner and developer. Benalec said it is open to joint ventures with property developers for the prime seafront land it is reclaiming in Melaka, broadening the company's previous practice of selling plots of reclaimed land outright.
Benalec's chief financial officer, told The Edge Financial Daily that although the company's first priority is to sell its reclaimed land, Benalec is in talks with several property companies on prospective partnerships.

Barack Obama elected 44th president of US. Equity shall rise. Asian market rise.