Enjoying a reversal of fortunes, management is scouting for more regional work in markets such as Thailand, Indonesia and Vietnam. Its current fleet consists of 14 newbuilds from its fleet renewal programme that was completed in 2011. Perdana is set to add two new assets, namely a work barge and a work boat, as it bids for the HUCC packages.
hopeful ...now is bottom fishing when others dump...when can u get low prices? that's when others panic dumping...don't see the drop in share prices as negative. See it as an opportunity to accumulate at lower prices...when prices starts recovering after GE13, that'd be too late to see low prices again...
PERDANA: Grossly oversold with key supports near RM0.98-1.00
§ After the selldown, PERDANA is currently trading at a 10x FY13 P/E (in line with its 5-year average), hence further significant downside risk is limited. We see further price weaknesses as opportunities to accumulate for risk takers in anticipation of a relief rally. Immediate supports are situated near RM0.98-1.00. FR). Immediate resistance levels are RM1.08 (50-d SMA), RM1.10 (76.4% FR) and RM1.14 (30-SMA). Further breakout above RM1.14 will spur greater upside towards RM1.17-1.20 zones. Cut loss below RM0.97.
its Mother : Dayang , added position on Perdana on 05 & 06.02.2013 (2 &3), px around 1.03 - 1.10 , nearly 5% , something is on , pls look,,, _______________________________________________________________________
but now ,, some 1 keep selling at 1.14 , piece by piece of 200 , 400 , 500 slowly , I m worry it is trap ....
Did u tested the water this morning ?? I just done.... something very cold, looking forward to find out. __________________________________________________________________
Are u still holding u GOcean..?? It seem coming , only volume too low , I m waiting for buy sign confirmation.
Bro imgf_hau: pls read the report date 7/2/12: perisai to kick final quarter result. The article also mention that perdana & Dayang will announce their report on 26 feb.
Excluding the impairment loss on asset classified as held for sale of RM27.7 million and RM39.3 million in the current quarter and fourth quarter of year 2011 respectively, the group has reported a profit before taxation of RM12 million in the current quarter, a significant improvement from the loss before taxation of RM12 million in the same quarter last year.
To early they announce the result.. ? I also not joint.. Afraid of GE. May be afGE will take position.. So it mother (Dayang)also will down tomorrow.. Today close
osted by lmf_hau > Feb 25, 2013 12:45 PM | Report Abuse
Minitrader ,
Did u tested the water this morning ?? I just done.... something very cold, looking forward to find out. __________________________________________________________________
Are u still holding u GOcean..?? It seem coming , only volume too low , I m waiting for buy sign confirmation. ...................................................................
Shine Like a Diamond Results In line: After adjusting for a RM28m write down on vessels, core earnings swung from a loss of RM30m to a profit of RM24m in FY12, making up 99% and 90% of HLIB and consensus core earnings estimates, respectively. Deviations None. Dividends None. Highlights FY12 revenue increased 1.4% yoy due to higher utilisation and charter rates which was partly offset by Lower capacity from the sale of unprofitable vessels. Sequentially, core earnings decreased 22% due to lower vessel utilisation. 4Q is typically week due to the start of the monsoon. However, we were encouraged by 3Q12 core earnings swinging to a profit of RM12m from a loss of RM47m in 3Q11. The increased utilisation from 69% to 85% yoy, despite the start of the monsoon season reaffirms our view that the OSV market is in a cyclical upswing as capacity overhang evaporates. Recall on 7 & 8, Jan Perdana secured RM0.5bn in contracts which locked in 100% charter for 50% of the AHTS fleet. Thus, we see little problem maintaining high utilisation rates for 2013 and beyond. With the possibility of most of the fleet locked into long term contracts, growth from new vessel acquisition will become increasingly viable and likely. As Perdana’s earnings clarity continues to shine like a diamond, complete privatisation becomes increasing attractive. Few OSV players, if any, offer the range of vessels, management experience or economies of scale as Perdana. The upswing in the OSV sector is exacerbated by intensifying domestic offshore activities and independent of the political landscape. An additional catalyst is an estimated RM10bn of offshore hook up and commissioning and topside maintenance work (includes an estimated RM2.5bn pan Malaysia brown field maintenance and HUC contract with shell) which Perdana is co-bidding for with Dayang. Risks Global recession hitting O&G price; Business and restructuring execution failure; and Increase in OSV supply Forecasts Largely unchanged. Rating BUY () Positives – Demand drivers improving. OSV supply relatively inelastic. Earnings inflection as restructuring nears completion. Negatives – Increased competition for growth markets. Complexities of restructuring. Valuation Maintain a BUY call and TP of RM1.70 based on an unchanged 14x FY13 EPS of 12.1 sen/share.
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henryecko
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Posted by henryecko > 2013-01-26 11:34 | Report Abuse
i would rather say strong support at 1.1