sychan

sychan | Joined since 2019-08-07

Investing Experience -
Risk Profile -

Followers

0

Following

0

Blog Posts

0

Threads

919

Blogs

Threads

Portfolio

Follower

Following

Summary
Total comments
919
Past 30 days
0
Past 7 days
0
Today
0

User Comments
Stock

2019-09-26 15:04 | Report Abuse

Loser Geco........,,,still talk not buy hahahaha

Stock

2019-09-26 13:42 | Report Abuse

10b shares I have

Stock

2019-09-26 13:19 | Report Abuse

poor John and Geco......so sad hahahaha

Stock

2019-09-26 12:33 | Report Abuse

Loser Geco hahahahahaha

Stock

2019-09-26 12:10 | Report Abuse

Super loser geco

Stock
Stock

2019-09-26 12:09 | Report Abuse

Geco loser with miss the trend and bus hahahahahah

Stock

2019-09-26 11:58 | Report Abuse

Geco loser with miss the trend and bus hahahahahah

Stock

2019-09-26 09:26 | Report Abuse

Results
Higher profit - Bumi Armada posted a net profit of RM78.2m in 2Q19 compared to a net loss of RM585.5m in 2Q18, due to impairments totalling RM478.9m, and normalised loss of RM106.6m. The higher earnings came following higher contribution from Armada Kraken FPSO Armada Olombendo FPSO.
Lower revenue – 2Q19 revenue declined 18% YoY to RM535.6m following amid flat performance by Floating Production & Operation (FPO) at RM443.6m and lower revenue from Offshore Marine Services (OMS) (-56% YoY to RM92m due to completion of the LukOil project in December 2018).
Better QoQ – Compared with the previous quarter, 2Q19 normalised net profit rose 16% QoQ on the back of a 9% QoQ revenue growth as FPO revenue climbed 4% QoQ while OMS jumped 39% QoQ as OSV fleet utilisation rate improved to 51% from 39% in 1Q19 due to higher demand in Malaysia.
Improved margins – Operating margin improved to 38% from 34% in 1Q19 while net margin increased to 15% from 13% in the previous quarter. The improvement in 2Q19 came after FPO and OMS segmental margins rose to 63% and 24% from 60% and 14% respectively in 1Q19.
Steady orderbook – Orderbook remains steady at RM18.9b (FPO: RM17.9bn, OMS: RM1bn) another RM9.9bn worth of potential extension. This will sustain the group’s revenue for the next few years.
Earnings Outlook/Revision
Exceeded expectation – 1H19 normalised net profit of RM145.9m grew 36% YoY and achieved 72% of our full year forecast of RM201.7m while six months revenue dropped 18% YoY to RM 1.03b and achieved 38% of our FY19 forecast.
Forecasts lifted – We are raising our EPS forecast for FY19 and FY20 by 55% and 17% respectively following improved efficiency and profit margins but keeping our revenue estimates.
Valuation & Recommendation
Maintain BUY call with a higher target price of RM0.50 (from RM0.47) based on +1 SD to its 3-year average P/B. Risks remain its high debt and gearing level despite the recent refinancing.
Potential upside is the possible compensation of US$280m (>RM1b) from the Armada Claire court case and judgement is expected in 4Q19.
Source: JF Apex Securities Research - 10 Sept 201

Stock

2019-09-26 09:24 | Report Abuse

Results
Higher profit - Bumi Armada posted a net profit of RM78.2m in 2Q19 compared to a net loss of RM585.5m in 2Q18, due to impairments totalling RM478.9m, and normalised loss of RM106.6m. The higher earnings came following higher contribution from Armada Kraken FPSO Armada Olombendo FPSO.
Lower revenue – 2Q19 revenue declined 18% YoY to RM535.6m following amid flat performance by Floating Production & Operation (FPO) at RM443.6m and lower revenue from Offshore Marine Services (OMS) (-56% YoY to RM92m due to completion of the LukOil project in December 2018).
Better QoQ – Compared with the previous quarter, 2Q19 normalised net profit rose 16% QoQ on the back of a 9% QoQ revenue growth as FPO revenue climbed 4% QoQ while OMS jumped 39% QoQ as OSV fleet utilisation rate improved to 51% from 39% in 1Q19 due to higher demand in Malaysia.
Improved margins – Operating margin improved to 38% from 34% in 1Q19 while net margin increased to 15% from 13% in the previous quarter. The improvement in 2Q19 came after FPO and OMS segmental margins rose to 63% and 24% from 60% and 14% respectively in 1Q19.
Steady orderbook – Orderbook remains steady at RM18.9b (FPO: RM17.9bn, OMS: RM1bn) another RM9.9bn worth of potential extension. This will sustain the group’s revenue for the next few years.
Earnings Outlook/Revision
Exceeded expectation – 1H19 normalised net profit of RM145.9m grew 36% YoY and achieved 72% of our full year forecast of RM201.7m while six months revenue dropped 18% YoY to RM 1.03b and achieved 38% of our FY19 forecast.
Forecasts lifted – We are raising our EPS forecast for FY19 and FY20 by 55% and 17% respectively following improved efficiency and profit margins but keeping our revenue estimates.
Valuation & Recommendation
Maintain BUY call with a higher target price of RM0.50 (from RM0.47) based on +1 SD to its 3-year average P/B. Risks remain its high debt and gearing level despite the recent refinancing.
Potential upside is the possible compensation of US$280m (>RM1b) from the Armada Claire court case and judgement is expected in 4Q19.
Source: JF Apex Securities Research - 10 Sept 201

Stock

2019-09-26 09:19 | Report Abuse

Results
Higher profit - Bumi Armada posted a net profit of RM78.2m in 2Q19 compared to a net loss of RM585.5m in 2Q18, due to impairments totalling RM478.9m, and normalised loss of RM106.6m. The higher earnings came following higher contribution from Armada Kraken FPSO Armada Olombendo FPSO.
Lower revenue – 2Q19 revenue declined 18% YoY to RM535.6m following amid flat performance by Floating Production & Operation (FPO) at RM443.6m and lower revenue from Offshore Marine Services (OMS) (-56% YoY to RM92m due to completion of the LukOil project in December 2018).
Better QoQ – Compared with the previous quarter, 2Q19 normalised net profit rose 16% QoQ on the back of a 9% QoQ revenue growth as FPO revenue climbed 4% QoQ while OMS jumped 39% QoQ as OSV fleet utilisation rate improved to 51% from 39% in 1Q19 due to higher demand in Malaysia.
Improved margins – Operating margin improved to 38% from 34% in 1Q19 while net margin increased to 15% from 13% in the previous quarter. The improvement in 2Q19 came after FPO and OMS segmental margins rose to 63% and 24% from 60% and 14% respectively in 1Q19.
Steady orderbook – Orderbook remains steady at RM18.9b (FPO: RM17.9bn, OMS: RM1bn) another RM9.9bn worth of potential extension. This will sustain the group’s revenue for the next few years.
Earnings Outlook/Revision
Exceeded expectation – 1H19 normalised net profit of RM145.9m grew 36% YoY and achieved 72% of our full year forecast of RM201.7m while six months revenue dropped 18% YoY to RM 1.03b and achieved 38% of our FY19 forecast.
Forecasts lifted – We are raising our EPS forecast for FY19 and FY20 by 55% and 17% respectively following improved efficiency and profit margins but keeping our revenue estimates.
Valuation & Recommendation
Maintain BUY call with a higher target price of RM0.50 (from RM0.47) based on +1 SD to its 3-year average P/B. Risks remain its high debt and gearing level despite the recent refinancing.
Potential upside is the possible compensation of US$280m (>RM1b) from the Armada Claire court case and judgement is expected in 4Q19.
Source: JF Apex Securities Research - 10 Sept 2019

Stock

2019-09-26 09:19 | Report Abuse

Results
Higher profit - Bumi Armada posted a net profit of RM78.2m in 2Q19 compared to a net loss of RM585.5m in 2Q18, due to impairments totalling RM478.9m, and normalised loss of RM106.6m. The higher earnings came following higher contribution from Armada Kraken FPSO Armada Olombendo FPSO.
Lower revenue – 2Q19 revenue declined 18% YoY to RM535.6m following amid flat performance by Floating Production & Operation (FPO) at RM443.6m and lower revenue from Offshore Marine Services (OMS) (-56% YoY to RM92m due to completion of the LukOil project in December 2018).
Better QoQ – Compared with the previous quarter, 2Q19 normalised net profit rose 16% QoQ on the back of a 9% QoQ revenue growth as FPO revenue climbed 4% QoQ while OMS jumped 39% QoQ as OSV fleet utilisation rate improved to 51% from 39% in 1Q19 due to higher demand in Malaysia.
Improved margins – Operating margin improved to 38% from 34% in 1Q19 while net margin increased to 15% from 13% in the previous quarter. The improvement in 2Q19 came after FPO and OMS segmental margins rose to 63% and 24% from 60% and 14% respectively in 1Q19.
Steady orderbook – Orderbook remains steady at RM18.9b (FPO: RM17.9bn, OMS: RM1bn) another RM9.9bn worth of potential extension. This will sustain the group’s revenue for the next few years.
Earnings Outlook/Revision
Exceeded expectation – 1H19 normalised net profit of RM145.9m grew 36% YoY and achieved 72% of our full year forecast of RM201.7m while six months revenue dropped 18% YoY to RM 1.03b and achieved 38% of our FY19 forecast.
Forecasts lifted – We are raising our EPS forecast for FY19 and FY20 by 55% and 17% respectively following improved efficiency and profit margins but keeping our revenue estimates.
Valuation & Recommendation
Maintain BUY call with a higher target price of RM0.50 (from RM0.47) based on +1 SD to its 3-year average P/B. Risks remain its high debt and gearing level despite the recent refinancing.
Potential upside is the possible compensation of US$280m (>RM1b) from the Armada Claire court case and judgement is expected in 4Q19.
Source: JF Apex Securities Research - 10 Sept 2019

Stock

2019-09-26 09:19 | Report Abuse

Results
Higher profit - Bumi Armada posted a net profit of RM78.2m in 2Q19 compared to a net loss of RM585.5m in 2Q18, due to impairments totalling RM478.9m, and normalised loss of RM106.6m. The higher earnings came following higher contribution from Armada Kraken FPSO Armada Olombendo FPSO.
Lower revenue – 2Q19 revenue declined 18% YoY to RM535.6m following amid flat performance by Floating Production & Operation (FPO) at RM443.6m and lower revenue from Offshore Marine Services (OMS) (-56% YoY to RM92m due to completion of the LukOil project in December 2018).
Better QoQ – Compared with the previous quarter, 2Q19 normalised net profit rose 16% QoQ on the back of a 9% QoQ revenue growth as FPO revenue climbed 4% QoQ while OMS jumped 39% QoQ as OSV fleet utilisation rate improved to 51% from 39% in 1Q19 due to higher demand in Malaysia.
Improved margins – Operating margin improved to 38% from 34% in 1Q19 while net margin increased to 15% from 13% in the previous quarter. The improvement in 2Q19 came after FPO and OMS segmental margins rose to 63% and 24% from 60% and 14% respectively in 1Q19.
Steady orderbook – Orderbook remains steady at RM18.9b (FPO: RM17.9bn, OMS: RM1bn) another RM9.9bn worth of potential extension. This will sustain the group’s revenue for the next few years.
Earnings Outlook/Revision
Exceeded expectation – 1H19 normalised net profit of RM145.9m grew 36% YoY and achieved 72% of our full year forecast of RM201.7m while six months revenue dropped 18% YoY to RM 1.03b and achieved 38% of our FY19 forecast.
Forecasts lifted – We are raising our EPS forecast for FY19 and FY20 by 55% and 17% respectively following improved efficiency and profit margins but keeping our revenue estimates.
Valuation & Recommendation
Maintain BUY call with a higher target price of RM0.50 (from RM0.47) based on +1 SD to its 3-year average P/B. Risks remain its high debt and gearing level despite the recent refinancing.
Potential upside is the possible compensation of US$280m (>RM1b) from the Armada Claire court case and judgement is expected in 4Q19.
Source: JF Apex Securities Research - 10 Sept 2019

Stock

2019-09-26 09:11 | Report Abuse

Results
Higher profit - Bumi Armada posted a net profit of RM78.2m in 2Q19 compared to a net loss of RM585.5m in 2Q18, due to impairments totalling RM478.9m, and normalised loss of RM106.6m. The higher earnings came following higher contribution from Armada Kraken FPSO Armada Olombendo FPSO.
Lower revenue – 2Q19 revenue declined 18% YoY to RM535.6m following amid flat performance by Floating Production & Operation (FPO) at RM443.6m and lower revenue from Offshore Marine Services (OMS) (-56% YoY to RM92m due to completion of the LukOil project in December 2018).
Better QoQ – Compared with the previous quarter, 2Q19 normalised net profit rose 16% QoQ on the back of a 9% QoQ revenue growth as FPO revenue climbed 4% QoQ while OMS jumped 39% QoQ as OSV fleet utilisation rate improved to 51% from 39% in 1Q19 due to higher demand in Malaysia.
Improved margins – Operating margin improved to 38% from 34% in 1Q19 while net margin increased to 15% from 13% in the previous quarter. The improvement in 2Q19 came after FPO and OMS segmental margins rose to 63% and 24% from 60% and 14% respectively in 1Q19.
Steady orderbook – Orderbook remains steady at RM18.9b (FPO: RM17.9bn, OMS: RM1bn) another RM9.9bn worth of potential extension. This will sustain the group’s revenue for the next few years.
Earnings Outlook/Revision
Exceeded expectation – 1H19 normalised net profit of RM145.9m grew 36% YoY and achieved 72% of our full year forecast of RM201.7m while six months revenue dropped 18% YoY to RM 1.03b and achieved 38% of our FY19 forecast.
Forecasts lifted – We are raising our EPS forecast for FY19 and FY20 by 55% and 17% respectively following improved efficiency and profit margins but keeping our revenue estimates.
Valuation & Recommendation
Maintain BUY call with a higher target price of RM0.50 (from RM0.47) based on +1 SD to its 3-year average P/B. Risks remain its high debt and gearing level despite the recent refinancing.
Potential upside is the possible compensation of US$280m (>RM1b) from the Armada Claire court case and judgement is expected in 4Q19.
Source: JF Apex Securities Research - 10 Sept 2019

Stock

2019-09-26 08:39 | Report Abuse

Results
Higher profit - Bumi Armada posted a net profit of RM78.2m in 2Q19 compared to a net loss of RM585.5m in 2Q18, due to impairments totalling RM478.9m, and normalised loss of RM106.6m. The higher earnings came following higher contribution from Armada Kraken FPSO Armada Olombendo FPSO.
Lower revenue – 2Q19 revenue declined 18% YoY to RM535.6m following amid flat performance by Floating Production & Operation (FPO) at RM443.6m and lower revenue from Offshore Marine Services (OMS) (-56% YoY to RM92m due to completion of the LukOil project in December 2018).
Better QoQ – Compared with the previous quarter, 2Q19 normalised net profit rose 16% QoQ on the back of a 9% QoQ revenue growth as FPO revenue climbed 4% QoQ while OMS jumped 39% QoQ as OSV fleet utilisation rate improved to 51% from 39% in 1Q19 due to higher demand in Malaysia.
Improved margins – Operating margin improved to 38% from 34% in 1Q19 while net margin increased to 15% from 13% in the previous quarter. The improvement in 2Q19 came after FPO and OMS segmental margins rose to 63% and 24% from 60% and 14% respectively in 1Q19.
Steady orderbook – Orderbook remains steady at RM18.9b (FPO: RM17.9bn, OMS: RM1bn) another RM9.9bn worth of potential extension. This will sustain the group’s revenue for the next few years.
Earnings Outlook/Revision
Exceeded expectation – 1H19 normalised net profit of RM145.9m grew 36% YoY and achieved 72% of our full year forecast of RM201.7m while six months revenue dropped 18% YoY to RM 1.03b and achieved 38% of our FY19 forecast.
Forecasts lifted – We are raising our EPS forecast for FY19 and FY20 by 55% and 17% respectively following improved efficiency and profit margins but keeping our revenue estimates.
Valuation & Recommendation
Maintain BUY call with a higher target price of RM0.50 (from RM0.47) based on +1 SD to its 3-year average P/B. Risks remain its high debt and gearing level despite the recent refinancing.
Potential upside is the possible compensation of US$280m (>RM1b) from the Armada Claire court case and judgement is expected in 4Q19.
Source: JF Apex Securities Research - 10 Sept 2019

Stock

2019-09-26 08:20 | Report Abuse

Results
Higher profit - Bumi Armada posted a net profit of RM78.2m in 2Q19 compared to a net loss of RM585.5m in 2Q18, due to impairments totalling RM478.9m, and normalised loss of RM106.6m. The higher earnings came following higher contribution from Armada Kraken FPSO Armada Olombendo FPSO.
Lower revenue – 2Q19 revenue declined 18% YoY to RM535.6m following amid flat performance by Floating Production & Operation (FPO) at RM443.6m and lower revenue from Offshore Marine Services (OMS) (-56% YoY to RM92m due to completion of the LukOil project in December 2018).
Better QoQ – Compared with the previous quarter, 2Q19 normalised net profit rose 16% QoQ on the back of a 9% QoQ revenue growth as FPO revenue climbed 4% QoQ while OMS jumped 39% QoQ as OSV fleet utilisation rate improved to 51% from 39% in 1Q19 due to higher demand in Malaysia.
Improved margins – Operating margin improved to 38% from 34% in 1Q19 while net margin increased to 15% from 13% in the previous quarter. The improvement in 2Q19 came after FPO and OMS segmental margins rose to 63% and 24% from 60% and 14% respectively in 1Q19.
Steady orderbook – Orderbook remains steady at RM18.9b (FPO: RM17.9bn, OMS: RM1bn) another RM9.9bn worth of potential extension. This will sustain the group’s revenue for the next few years.
Earnings Outlook/Revision
Exceeded expectation – 1H19 normalised net profit of RM145.9m grew 36% YoY and achieved 72% of our full year forecast of RM201.7m while six months revenue dropped 18% YoY to RM 1.03b and achieved 38% of our FY19 forecast.
Forecasts lifted – We are raising our EPS forecast for FY19 and FY20 by 55% and 17% respectively following improved efficiency and profit margins but keeping our revenue estimates.
Valuation & Recommendation
Maintain BUY call with a higher target price of RM0.50 (from RM0.47) based on +1 SD to its 3-year average P/B. Risks remain its high debt and gearing level despite the recent refinancing.
Potential upside is the possible compensation of US$280m (>RM1b) from the Armada Claire court case and judgement is expected in 4Q19.
Source: JF Apex Securities Research - 10 Sept 2019

Stock

2019-09-26 08:19 | Report Abuse

In fact johnchew and Geco who made baseless comment. Are people really childish, there pretend expert In share market and actually there no nothing every time what there said is wrong and never fulfill, there just talk talk talk, with 200lot share @ 200? Hahahaha

Stock

2019-09-26 07:41 | Report Abuse

In fact johnchew and Geco who made baseless comment. Are people really childish, there pretend expert In share market and actually there no nothing every time what there said is wrong and never fulfill, there just talk talk talk, with 200lot share @ 200? Hahahaha

Stock

2019-09-25 23:47 | Report Abuse

Geco do more research not baseless talk

Stock

2019-09-25 23:20 | Report Abuse

Geco just talker with no shares

Stock

2019-09-25 16:48 | Report Abuse

Hahaha7300.free ...,loser

Stock

2019-09-25 15:40 | Report Abuse

7300 You no need to say anything baseless

Stock

2019-09-25 15:33 | Report Abuse

1986 really ikan bilis

Stock

2019-09-25 11:19 | Report Abuse

Really shameless

Stock

2019-09-25 11:18 | Report Abuse

4574 now all share buy by me don’t made empty talk here

Stock
Stock

2019-09-25 10:51 | Report Abuse

I just buy 1m at 0,30

Stock

2019-09-25 10:50 | Report Abuse

Said thing that can’t prove everybody know , I can said I got 100b us will buy armada soon at 1.50

Stock

2019-09-25 10:48 | Report Abuse

4574 talker, you sold 0.000000000001shares at 0.28,Hahahaha only left talk

Stock

2019-09-24 00:45 | Report Abuse

Johnchew and Geco only talker here stupid loser talker with no share .......... 200 John got hahahaha

Stock

2019-09-23 23:02 | Report Abuse

John miss the boat so sad hahahaha

Stock

2019-09-23 20:32 | Report Abuse

hahaha loser John stupid John no share John

Stock

2019-09-23 18:00 | Report Abuse

Loser johnchew

Stock

2019-09-23 18:00 | Report Abuse

Johnchew is loser only made empty talk here and there with no shares and no brain Johnchew is pig

Stock

2019-09-23 16:34 | Report Abuse

hahahaha ha

Stock

2019-09-23 16:22 | Report Abuse

John is super loser fake comment

Stock

2019-09-23 15:24 | Report Abuse

We maintain OVERWEIGHT on the sector as prospects have begun to brighten with rising asset utilization globally which supported service providers’ improving results. While we have BUY calls for Bumi Armada, MISC, Sapura Energy and Velesto Energy, our top picks are still companies with stable and recurring earnings such as Serba Dinamik and Dialog Group. We like the recurring income business model of Dialog and Serba Dinamik, which are involved in operation and maintenance services while Dialog’s earnings visibility is further secured by the Pengerang Deepwater Terminal project with its enlarged buffer zone. As Bumi Armada’s share price has risen by 50% since our recommendation upgrade last month, we have raised its fair value further to RM0.42/share, further reducing our sum-of-parts discount of 20%.
Source: AmInvest Research - 23 Sept 2019

Stock

2019-09-23 15:11 | Report Abuse

200 unit ! Hahahahahahahahaha loser

Stock

2019-09-23 15:11 | Report Abuse

We maintain OVERWEIGHT on the sector as prospects have begun to brighten with rising asset utilization globally which supported service providers’ improving results. While we have BUY calls for Bumi Armada, MISC, Sapura Energy and Velesto Energy, our top picks are still companies with stable and recurring earnings such as Serba Dinamik and Dialog Group. We like the recurring income business model of Dialog and Serba Dinamik, which are involved in operation and maintenance services while Dialog’s earnings visibility is further secured by the Pengerang Deepwater Terminal project with its enlarged buffer zone. As Bumi Armada’s share price has risen by 50% since our recommendation upgrade last month, we have raised its fair value further to RM0.42/share, further reducing our sum-of-parts discount of 20%.
Source: AmInvest Research - 23 Sept 2019

Stock

2019-09-23 15:07 | Report Abuse

We maintain OVERWEIGHT on the sector as prospects have begun to brighten with rising asset utilization globally which supported service providers’ improving results. While we have BUY calls for Bumi Armada, MISC, Sapura Energy and Velesto Energy, our top picks are still companies with stable and recurring earnings such as Serba Dinamik and Dialog Group. We like the recurring income business model of Dialog and Serba Dinamik, which are involved in operation and maintenance services while Dialog’s earnings visibility is further secured by the Pengerang Deepwater Terminal project with its enlarged buffer zone. As Bumi Armada’s share price has risen by 50% since our recommendation upgrade last month, we have raised its fair value further to RM0.42/share, further reducing our sum-of-parts discount of 20%.
Source: AmInvest Research - 23 Sept 2019

Stock

2019-09-23 15:04 | Report Abuse

We maintain OVERWEIGHT on the sector as prospects have begun to brighten with rising asset utilization globally which supported service providers’ improving results. While we have BUY calls for Bumi Armada, MISC, Sapura Energy and Velesto Energy, our top picks are still companies with stable and recurring earnings such as Serba Dinamik and Dialog Group. We like the recurring income business model of Dialog and Serba Dinamik, which are involved in operation and maintenance services while Dialog’s earnings visibility is further secured by the Pengerang Deepwater Terminal project with its enlarged buffer zone. As Bumi Armada’s share price has risen by 50% since our recommendation upgrade last month, we have raised its fair value further to RM0.42/share, further reducing our sum-of-parts discount of 20%.
Source: AmInvest Research - 23 Sept 2019

Stock

2019-09-23 15:04 | Report Abuse

Johnchew Geco Robert areiloser only made empty talk here and there with no shares and no brain allare
pig

Stock
Stock
Stock

2019-09-23 15:01 | Report Abuse

Pity John no share when armada uptrend

Stock

2019-09-23 15:01 | Report Abuse

Johnchew Geco Robert areiloser only made empty talk here and there with no shares and no brain allare
pig

Stock

2019-09-23 15:00 | Report Abuse

We maintain OVERWEIGHT on the sector as prospects have begun to brighten with rising asset utilization globally which supported service providers’ improving results. While we have BUY calls for Bumi Armada, MISC, Sapura Energy and Velesto Energy, our top picks are still companies with stable and recurring earnings such as Serba Dinamik and Dialog Group. We like the recurring income business model of Dialog and Serba Dinamik, which are involved in operation and maintenance services while Dialog’s earnings visibility is further secured by the Pengerang Deepwater Terminal project with its enlarged buffer zone. As Bumi Armada’s share price has risen by 50% since our recommendation upgrade last month, we have raised its fair value further to RM0.42/share, further reducing our sum-of-parts discount of 20%.
Source: AmInvest Research - 23 Sept 2019

Stock

2019-09-23 14:59 | Report Abuse

We maintain OVERWEIGHT on the sector as prospects have begun to brighten with rising asset utilization globally which supported service providers’ improving results. While we have BUY calls for Bumi Armada, MISC, Sapura Energy and Velesto Energy, our top picks are still companies with stable and recurring earnings such as Serba Dinamik and Dialog Group. We like the recurring income business model of Dialog and Serba Dinamik, which are involved in operation and maintenance services while Dialog’s earnings visibility is further secured by the Pengerang Deepwater Terminal project with its enlarged buffer zone. As Bumi Armada’s share price has risen by 50% since our recommendation upgrade last month, we have raised its fair value further to RM0.42/share, further reducing our sum-of-parts discount of 20%.
Source: AmInvest Research - 23 Sept 2019