Selamat Hari Raya.
Maaf Zahir Batin.

hai.. Semua mau tunggu news, announcement come out, lewat lor..!

get brunei shell project !

KBM採油區成“金礦”‧必達能源上漲空間大
2014-07-09 18:18
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（吉隆坡9日訊）達證券認為，KBM採油區成為必達能源（PENERGY,5133,主板貿服組）的“金礦”，未來將為該公司業務增長提供更多上漲空間。
達證券在報告中說，必達能源打算開發海底作業、強化採油（EOR）、移動平台（Liftboat）等業務，若一一落實，有助加強估值。
目前，該公司在KBM採油區的風險服務合約中持有30%股權，若順利以既有資產提供更多服務，相信可以爭取更高營收。
達證券以2015至2020年每日產油5千917桶、油價105美元、資本開銷及營運開銷12億令吉、產油成本54美元、營運賺幅35%等為基準推測後，估計KBM採油區的風險服務合約可將必達能源的估值提高34仙。
同時，在泛馬油田的連接、建築與啟動（HUCC）項目帶動下，該公司的船租業務賺幅逐步回穩，從2013年的0.3%升至2014年的15%左右。
管理層看好租金將增加最多15%，在增購新船後，使用率仍有望由2013年的72%提高到2014年的80%，相信泛馬油田合約可帶來穩定的營收。
為爭取更多新合約，該公司計劃增購新的工作船，也可能添購移動平台。
達證券雖未給予評級，卻估算必達能源合理價為3令吉34仙，在2014年業務展望改善之下，未來擁有不俗的上漲空間。
今日收市，必達能源跌1仙，收2令吉98仙。（星洲日報／財經）

Wah Seong hold 26.9% stake of Penergy.

wacai going strong! strong earning oil money in Statoil Polarled, Petronas JDA, Metal One DBP Wheatstone Ashburton. Esso Longford, Petronas Garagol project for 2Q14 !

waseong is one of beneficiary for Petronas RAPID project in Pengerang. WASCO is award RGT2P linepipe coating project which involves 36” OD pipeline from new LNG terminal in Pengerang to Ulu Tiram.

Sorry a typo:
If wacai got own pipeline, wacai already fatt tatt chor lor (rich) at early.
Please think.

We can not simply tuduh orang salah. As we know the all product is tested and checked, and it is witnessed by client representative, finally they approve if all the requirements are meet. The client is multinational company, all the specification company have to follow. Not play sand.
Let say: if we sell a car to person, then ada orang pergi langgar or buat rosak kereta, then how we say? Think-think
And wacai own the pipeline, wacai sudah fatt tatt (kaya) chor lor.

hai lat lor..

Wri

Hai lat lot..

Kawe, pls read theedgemalaysia.com, sin chew, chinapress, Am research etc.

Petronas to do investigation.

No related to WSC. Do u have any evidence or data?

A comparison: since E&O director buy its share, the share price is sharply up. And since Skpetro a major shareholder sell its share, the share price of skpetro already drop many.

Boss director Mr chan, Mr Mac, company buy back share lor. They understand company situation, financial status, project to be awarded more than us. They confident. If they buy, I absolutely follow them to buy, if they sell I definitely follow them to sell it.

Duly wacai beli penergy baru RM 1.50 ++, Semarang penergy dah naik to 2.98, wacai day banyak utung!!

Wah Seong's 26.9% penergy stake continue move forward today.

Waiting die. Hah..

Ya lor

Haha. Suka u

Ask u buy wacai, not penergy. Becos wacai not move yet. Now is the time to BUY.

Sekarang tak beli, nanti akan menyesal..

Biar la LC analysis. Penergy move lor

Terengganu Sepat field pipeline approx 200 km coming

A persistent investor will laugh at the end.

Go go go! Go to see panda!

Today up, INI macam, wacai dah macam stock goreng!

EPF style: buy at lower, sell at higher.

Wacai memang untung banyak oil money this year. Baru-baru INI Jda project I pun tak tau dia sudah untung berapa puluh juta..

Wacai bila mau naik hah?! Bila mau Turun hah?

Penergy up, wacai tak lama pun up jugak.

Penergy sudah up chor lor. Ma hai ya..! if I know, already buy it

Penergy move lor..

There is no any bad news for wacai. its drop may due to overall market not good + holiday. The linepipes for Petronas JDA, Norway Statoil Polarled and Esso Longford are continuous coated. The pipe coating jobs are smooth running and continuous make money. and just want to inform you that Penergy now already moving with keep quiet motion. think think..

WASCO get Shell Gabon project.

華商首季轉虧為盈
2014-05-28 11:24



（吉隆坡27日訊）受油氣業務轉盈大力推動，華商機構（WASEONG,5142,主板工業產品組）截至2014年3月31日首季轉虧為盈，大賺2千零60萬9千令吉，前期則淨虧155萬3千令吉。

營業額增長12.77%至4億8千255萬8千令吉。

“油氣業營業額增長86.9%至2億2千340萬令吉，稅前盈利達2千220萬令吉，相比前期虧損1千510萬令吉。”

該公司董事部文告說，再生能源營業額與稅前盈利各增5.6%與13.2%，至8千310萬令吉與1千540萬令吉；區域油脂化學業務與油氣業蓬勃，營收與賺益高是盈利上揚主因。

工業貿易與服務組營業額跌29%至1億4千360萬令吉，盈利更下跌74.5%至240萬令吉；營收與盈利下跌，主要是專注賺益低，去年購買業務的現金減值也造成拖累。種植業務首季虧損擴大至390萬令吉。

“3大業務迄今手持17億工程（油氣業務佔12億令吉），展望未來，預測2014財政年業績正面。”（星洲日報／財經）

Published: Wednesday May 28, 2014 MYT 8:59:00 AM
Updated: Wednesday May 28, 2014 MYT 9:02:03 AM
CIMB Research maintains Wah Seong target price of RM2.72


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KUALA LUMPUR: CIMB Equities Research is maintaining its target price of Wah Seong Corporation of RM2.72, which is an upside of 37.6% from the last traded price of RM1.98.



It said on Wednesday the smooth execution of two main pipe-coating contracts supported Wah Seong's major earnings turnaround in Q1 ended March 31, 2014.



"Its net profit formed 16% of our FY14 forecast and 19% of consensus, which we deem broadly in line as we expect a stronger 2H on the back of Petra Energy's maiden risk service contract (RSC) contributions.



"We continue to value the stock at 15.8x CY15 P/E, still at a 30% discount to the price-to-earnings (P/E) of the oil & gas big caps. The shift from project-based income to annuity-like earnings is a longer-term positive and a potential re-rating catalyst that supports our Add rating," it said.



To recap, CIMB Research said Wah Seong's net profit of RM21mil in Q1, FY14 was a major turnaround from a net loss of RM2mil in Q1, 2013, thanks to the smooth execution of its two main pipe-coating contracts, namely the RM627mil contract for the Polarled project in Norway and the RM232mil contract for the North Malay Basin project in Terengganu. The projects commenced in Q4, 20113.



"For the Polarled contract, coated pipes were shipped from Kuantan to Norway beginning in Feb, paving the way for the start of coating operations at the Norway plant today. As at March 31, the Polarled contract reached 12% completion while the North Malay Basin was 51% underway," it said.



CIMB Research said as at March 31, Wah Seong had RM1.7bil of orders, which included RM137mil worth of contracts secured in Q1, 2014. The company is currently bidding for various jobs valued at RM4bil in total.



The research house said the potential long-term RSC contributions from 26.9%-owned Petra Energy's Kapal, Banang and Meranti marginal field cluster should lend more stability to Wah Seong's earnings.



"Production at the Kapal field has hit 8,000 barrels a day, higher than earlier estimates of around 3,000 to 5,000 barrels a day. We expect contributions from Kapal to start flowing in during the second half.


"Wah Seong's share of Petra Energy's net profits could be around RM24mil per annum, which we have imputed in our forecasts. Petra Energy is developing the cluster through a 30:70 JV with Thailand's Coastal Energy," it added.

WAH SEONG CORPORATION BERHAD - A Promising Start
Date: 28/05/2014

Source : PUBLIC BANK
Stock : WASEONG Price Target : 2.60 | Price Call : BUY
Last Price : 1.98 | Upside/Downside : +0.62 (31.31%)


Wah Seong‟s 1QFY14 numbers registered an increase in revenue to RM482.6m (+12.8% YoY, -2.4% QoQ), and earnings of RM20.6m (+>100% YoY, -0.1% QoQ). Higher revenue was attributed to the stronger orderbook of RM1.7bn secured in FY13, but mainly executed this year. The Group‟s performance going forward will be buoyed largely by the oil and gas (O&G) division and supported by the renewable energy division, as an increasing demand of turbine and industrial boilers is expected. We maintain our Outperform recommendation, with a TP of RM2.60 premised on FY15F EPS of 14.5sen implying a 18x PE multiple. FY14 earnings is buoyed by i) Polarled Pipeline project worth c.RM611.3m, ii) North Malay Basin contract worth about RM232m, iii) DBP Wheatstone (engineering services) and Esso/Langford (pipe-coating) worth RM98m, all of which is accounted for in the Group‟s RM1.7bn orderbook, iv) likely Pan Malaysia contracts which are yet to be awarded but accounted for in Wah Seong‟s RM4bn tenderbook, and v) potential M&A opportunities.

RM1.7bn orderbook value has been sustained by additional contracts across all sectors, with RM137.4m replenished by O&G contracts. FY14‟s tender book is estimated to be c.RM4bn, with potential contracts that will span over a 3-year horizon with 74% from O&G contracts (c.70% pipe-coating). We assume Wah Seong‟s O&G portfolio going forward will continue in this direction but with increased investments in deep water developments and pipeline construction.

Updates. i) Statoil Polarled project for the Kuantan portion is 35% complete, with the realisation of earnings from the 2nd phase of pipe coating in Norway to materialise by 2H14. ii) North Malay Basin project is 51% complete, and is on target to complete by 2Q14 (June). iii) The two pipe-coating plants in Louisiana to serve the Gulf of Mexico is fully mobilised, and has been awarded a small job worth c.USD6m. Upon building its track record, we can expect more jobs to be secured. Wah Seong will continuously bid for projects in both domestic and international markets, as a reputable pipe-coating specialist while minimising geographical and single customer exposure.

Maintain OUTPERFORM. FY14 will be largely driven by i) new projects worth USD5-USD15m to extend for several quarters, ii) steady income from renewable energy, which has continuously delivered double-digit PBT margins, and furthermore enhanced by the JV with Shinko Ind. Ltd iii) higher earnings contribution from 26.9%-owned Petra Energy for the development and production of petroleum from KBM cluster RSC, coupled with 5-year Hook-up, Commissioning (HuCC) and Topside Maintenance Services (TMS) contract by Petronas, and iv) potential M&As which are synergistic to the Group‟s business.

Source: PublicInvest Research - 28 May 2014

华商控股 大型涂管带动营收

行家论股

2014-05-29 12:47

目标价：2.25令吉

最新进展

华商控股（WASEONG，5142，主板工业产品股）产品结构变动，首季赚幅微跌至8%，逊于2013年首季的10%。

赚幅下跌，稍微影响首季核心净利，报2000万令吉。

整体上，油气和再生能源业务带动华商控股首季转亏为盈，录得2060万9000令吉净利。

行家建议

大型涂管计划Statoil及和北马盆地计划，带动华商控股油气业务的首季营收，按年强劲增长87%。

Statoil计划目前完成度介于30至35%，北马盆地计划则完成50%，工程将分别在明年和今年次季完成。

基于华商控股握有大型涂管计划，公司下半年的赚幅，应该可恢复到约15%。

可是，北马盆地计划接近尾声，公司营收将会降低3至4%，并下调联号公司收入预测50%。

我们下修华商控股今明两年的每股盈利预测，分别达7和12%。

公司接下来的催化剂，是比预期早获颁高赚幅工程。

目前正竞标价值50亿令吉的订单。

分析：兴业研究

How come zero dividends leh? Last month we just receive RM 3000 dividend. Tak kan every quarter pun mau kasi dividend meh?

Write a comment.Wah.. Wacai outperform! Tomolo analysts will up the target price!

The edge weekly reported penergy will get risk service contract RSC again from petronas. The company is one of the main company which competence to manage to develope marginal oil field development. Waseong hold 26.9% stake of penergy. Still remember that during penergy get kBM rsc Project, wacai share price also up ma. And this week is every excited for every wacai shareholder, because the financial result is announce soon! The result is turn to black from red. And the earning figures is much more than expected! As a long term investor, we still maintain the earn money rule of "more low more buy, more high more sell"!

Price go soften very good! Buy at lower, sell at higher. Kalau asyik-asyik buy at higher, mau untung apa??

Haiya.. Pertama hari keje ker?? Wacai suka last minit timbul, tak mati pun tak keluar. Lagipun IGB taiko pun tak announce lagi. Perlahan-lahan tunggulah.

now good! its time to buy again wacai! more down, more buy..!

you also can go facebook look for "Wasco Coatings Norway" for more exciting pictures..!

http://kph.no/arrangement-og-studier/avholdte-arrangementer/arrangementsdetaljer/article/dialogkonferanse-og-workshop-med-statoil-og-hovedkontraktoerer-for-polarled/

Pls visit the website above and see the photos for Wasco concrete coating plant at Norway for Statoil Polarled Pipeline Project 480 km.

Hi, morning. If feel the price is higher, please sell down.