all the negative news came out. i think it takes time to digest. today close at 1.45. i just dont feel comfortable with it. i reduced my position to safeguard my capital as it hit my cut loss point....too bad...mhb was at positive side just one day ago....
Three parties have likely been pre-qualified by Petronas for the US$1.5 billion Kasawari central processing platform (CPP) contract.
AmResearch Sdn Bhd (AmResearch) noted that the three parties are South Korea’s Hyundai Heavy Industries Co Ltd, a joint venture between Italy’s Saipem SpA and SapuraKencana Petroleum Bhd, and a partnership between France’s Technip SA and Malaysia Marine and Heavy Engineering Holdings Bhd (MMHE).
“We understand the bidding is in progress and is currently being evaluated.
“The contract could be awarded sometime in April.
“Berlian McDermott, a joint venture between TH Heavy Engineering Bhd and Houston-based McDermott International Inc, did not progress beyond the prequalifying stage of this contest,” said AmResearch.
AmResearch said the winner of the Kasawari FEED tender will also secure an engineering, procurement, construction and commissioning (EPCIC) contract, scheduled to be awarded in late 2015 or early 2016.
“As Technip took charge of the conceptual studies of the Kasawari field development, and the JV between Technip and MMHE had eventually secured the first SK316 CPP, we believe that they stand as the most likely candidates to secure this project,” it opined.
MARC has assigned a final rating of AA-IS with a stable outlook on Malaysia Marine and Heavy Engineering Holdings Berhad's (MHB or the group) Sukuk Murabahah Programme of up to MYR 1.0 billion.
The rating incorporates a one-notch uplift from MHB's standalone rating based on MARC's assessment on the likelihood of moderate support from MHB's ultimate parent PETRONAS. The support assessment has taken into consideration the business linkages between the two entities and PETRONAS' strong representation on MHB's board of directors. PETRONAS' interest in the group is via its 62.4 per cent-owned subsidiary MISC Berhad which in turn has a 66.5 per cent interest in MHB.
If it continues to rebound for another few days, selling Q of MHB-CW at 0.010 soon will be gone. Very unlikely MHB-CW will just stay at 0.005 or 0.010 in the next 200 days.
suggest u use ur binoculars.. yard is getting empty.. not sure if petronas wish to award new project at anytime soon.. happy trading anyway.. ur money ur risk..
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