They are so desperate taking contracts at low2 prices just to bring in much needed cash, even the latest contract from China client not “arms-length” some deal by MCA TS Lim as some PR exercise
Another contract terminated but did not announce, TPC Bayan Lepas Penang 100+m awarded Nov 2017 but 6 months delayed so client terminated and appointed Kok Construction to take over work
I think investors should stay away from this company. I doubt they can turnaround to make any profit soon. What's worst is their balance sheet. Currently they are trading at a negative equity.
Those that are invested should try to find other companies to put you money into. If you are still interested in O&G there are still some companies that managed to come up with some profit but have stronger balance sheet. These are the companies that will do well once Petronas decides to increase back its spending in the upstream segment. You can also go and invest in downstream related O&G companies. They will benefit from Petronas spending in 2019.
For those looking to diversify in companies outside of the O&G industry, i would recommend you to look at MBMR.
MBMR is a direct proxy to Perodua via its 22.6% interest in the company. Valuation is cheap at only 5.8x PE (based on target FY18 PATAMI of RM145mil. 9m PATAMI is already RM106mil). PB is low at only 0.6x BV. 4Q18 results is expected to be higher than 3Q18 and last year's 4Q17. For FY19 growth will be driven by the still high demand of new Myvi and the launch of the new SUV in 1Q19.
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apolloang
18,163 posts
Posted by apolloang > 2018-08-29 23:12 | Report Abuse
NTA negative 0.01ct no chose shop yet ar? hehe