According to sources, SCOMIES could be looking to distance itself from SCOMI. “SCOMIES' outlook is okay with oil prices stabilising. SCOMI, on the other hand, seems to be sinking,”.
OCTANEX MIGHT PARTNER WITH SCOMIES IN TENDERING OIL RIGS CONTRACT FROM PETRONAS IN RELATION TO THE ONGOING FINALISATION REIMBURSEMENT OF OPHIR OILFIELD COST
this report will make the stop fly UZMA BHD: (MYR1.05) Latest job win reflects its capability; will share price extend its run? Maybank IB Retail Research
Uzma’s 95%-owned sub-subsidiary PT Cougar Drilling Solutions Indonesia (effective interest of 90.25%) was awarded a 2-year contract to provide directional drilling services for PT Pertamina Hulu Energi Onshore North West Java. The project has an extension option but is subject to the approval of SKK MIGAS, an institution established by the Government of Indonesia to manage upstream oil and gas business activities.
There is no firm value for the contract as the execution of the contract is depending on work orders. But this development is positive as it reflects Uzma’s capability in securing jobs. This project aside, the group is also engaged by various oil and gas majors such as Petronas Carigali S/B and Murphy.
Silent gold. While others are busy with naim, dayang, perdana, Armada, velesto, carimin, huaan, destini... people forget there are small pieces of gold like Alam, KNM, Icon and Scomies that are very cheap will fly again back to where they are. See history of last 10 years. You may tell the 10 years cycle are just begin in these penny stocks right on your footstep. Collect the gold while it's still cheap. ++,)
The company is still actually in the red for the 9m19 result. Excluding the RM26.3mil forex gain and the RM3.5mil gain on disposal, the 9m19 PAT would have actually been -RM25.6mil. Core bottom line would most probably still be negative for FY20 given that management is projecting a similar market activities level in the near future.
MBMR is a direct proxy to Perodua via its 22.6% interest in the company. Valuation is cheap at only 6.6x PE based on FY18 profit of RM166mil. PB is low at only 0.7x BV.
FY19 should deliver another profit growth year to the company. Profit growth will again be driven by the performance of Perodua (via MBMR 22.6% holdings in Perodua) from the still strong sales of new Myvi, sales of SUV Aruz and the introduction of the newly revamp Alza sometime in the 2H19. Aruz which commands a higher margin compared to other models, will help improve the total profit margin of Perodua (which will flow to MBMR’s bottom line as well).
MBMR is expected to achieve a profit of RM200mil in 2019. At the current share price, the company is being valued at only 5.5x which is a lot lower than the industry average of 15x PE. As an example, UMW (another company with exposure to Perodua) is currently trading at a PE multiple of almost 20x.
Scomi Energy: Bags contracts worth MYR610m in Kuwait. The two contracts were from the Kuwait Oil Company for the provision of mud products and mud engineering services for deep drilling and development drilling. Kuwait is one of the key markets targeted by Scomi Energy, with order book prior to this contract award stood at USD176m. (Source: The Edge Markets)
Johhny1123, I don't think it is in the interest of the managment to have the price go up at this juncture even if it is undervalued or additional contract win. As long as the loan default by Scomi with Maybank is not settled it would be in the interest to keep the price of Scomies low. Scomi was able to extend till 08/04/19 to deal with the loan default matter. Remember, failing to reach some agreement on the loan issue to the "advantage" of Scomi by the aforesaid date, Maybank has the right to sell Scomies shares placed as collateral. Surely, at the moment it only make sense to keep Scomies price low. What do you think ? If a settlement is reached and acceptable to Scomi, Scomies price will jump. As to how much, I do not know.
. Just be patient with it. Those who got 0.055 before, u are laughing all the way.. I see potential in SCOMIES who has the abilities to secure a RM610 M projects from overseas!! Start collecting now before it cross 0.100.. Good Luck!
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....
persie
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Posted by persie > 2019-02-20 20:19 | Report Abuse
According to sources, SCOMIES could be looking to distance itself from SCOMI. “SCOMIES' outlook is okay with oil prices stabilising. SCOMI, on the other hand, seems to be sinking,”.