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5 comment(s). Last comment by minitrader 2013-02-08 10:47
Posted by kcchongnz > 2013-02-07 22:38 | Report Abuse
What do you see in its final quarter results?
Posted by minitrader > 2013-02-08 10:33 | Report Abuse
HLIB today 8 Feb 2013
Perisai Petroleum O&G (BUY çè)
Value Shield in Violent Markets
§ In line: FY12 Core profit rose 131% YoY to RM78m, making up 93% and 85% of HLIB and consensus full-year estimates, respectively
§ Disposal of 50% equity stake in SJR Marine related to the FPSO purchase, clipped RM10m from 4Q profit. Otherwise, profit would have grown 135% YoY to RM88m, making up 105%% and 96% of HLIB and consensus full-year estimates, respectively.
§ Reported PATAMI increased 223% to RM92m due to a barrage of non-reoccurring items including 18.4m accounting gain related to the MOPU purchase, RM17 impairment on associates and an RM8m impairment on cold staked vessels. Incorporation of a Labuan company also saw a RM29m tax write back which should lower the tax rate going forward. This was partly offset by approximately RM19m MI share of the tax write back.
§ We maintain our TP of RM1.55 and pending details of the rig contract on an unchanged 16x FY/13 EPS of 9.7 sen/share.
Posted by minitrader > 2013-02-08 10:39 | Report Abuse
Latest (8/2/13) TP of 7 brokers averaged 1.42, the highest being 1.63(CIMB) and lowest 1.25 (HwangDBS)
Posted by minitrader > 2013-02-08 10:47 | Report Abuse
Based on average TP of 1.42, u have >42% and if based on CIMB's TP, it's more than 60% upside.
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CS Tan
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
kcfan
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Posted by kcfan > 2013-02-07 21:23 | Report Abuse
My focus Oil & Gas counters.