The Board of PPB is pleased to announce that Perdana Nautika Sdn Bhd (“PNSB”), a subsidiary company of PPB, has secured from PETRONAS Carigali Sdn Bhd (“PCSB”) a letter of award (the “LOA”) for the supply of four (4) units of Anchor Handling Tug Supply (AHTS) vessels (the “Contract”).
DURATION OF CONTRACT The charters will run effective from 1st January 2013 for a period of five (5) years each with extension options of an additional year.
RISK FACTORS The risks associated with the Contract are normal operational risks which can be mitigated through PPB’s system of project management and internal business controls.
FINANCIAL EFFECTS The LOA is valued at approximately RM430 million and is expected to contribute positively to the revenue and earnings of PPB Group for the financial year ending 31 December 2013 and the financial periods thereafter for the duration of the Contract. There will be no effect on the gearing of the PPB Group and the Contract will not have material effect on the net asset per share for the financial year ending 31 December 2013
I have a funny feeling of OSK's stock call. The have the lowest TP of 1.17 for Perdana whereas other research houses have a TP of 1.31-1.50. Remember JCY? They also gave the lowest TP of 0.35 in the mkt, while other analysts put up 0.70-0.80. What's their strategy? OR they have a bunch of stupid analysts that project out of the norm?
Perdana is really in bullish ...... every week hit historical high.... tomorrow will be another up trend after release of Rm 430. million contrac...... those who don want to miss this boat still can look into Perdana-wa.....
OSK downgrade to hold with TP Rm1.17 today after Perdana awards Rm 77 million contract Yesterday Today afternoon Perdana awards another Rm 430 millions contract.... what are you OSK going to say. ? Change your TP again. ?
Year 2013 for Oil & Gas .... 2 contract worth Rm 500 Million for Perdana from carigari Petronas 1 contract worth Rm 251.81 Million for Silk Holding from carigari Petronas 1 contrat worth Rm 19 Million for Alam marine more contract for Oil & Gas counter awards from Petronas carigari soon .....
chung, well done for your in Perdana. Luckily you didn't listen to me about the fundamentals of Perdana, though we were not talking about whether one should buy or not and at what price. Well you seem to know a lot more about the future of Perdana. I was basing on the past which may not be relevant for its future. The chart of Perdana certainly looks good. Oop, why did I talk about chart, i know nothing about it. But it really appears pretty to me.
kcchongn i always watch closely about your comment and become a my guide line for investing in any counter. your knowledge in financial report of the company very good.....i guess a lot of readers in this i3investor is your Fans....... keep it up and feel i owe you an apologies for argue with you KNM counter.... i agreed your point at the end.....
chung, you don't owe nobody any apology. If you didn't argue with me and just dismissed what I said, you may miss some opposing points of views which may be critical for putting your money at risks. As a matter of fact, I may be wrong again about thee price movement of knm also. Oh, I never argue about price, if you notice, because I simply don't know how to predict price movement. You notice I may not be a fan of TA but I never argue with chartists because they may have good points. The case of Perdana may be a good example. I talk about fundamentals because I believe "figures can't lie but liars can figure". But again those figures are the past, knowing the future is more important, like you know about Perdana. But this future must be based on facts and figures, not rumours, I believe. It pays to be sceptically in playing the market, don't you agree?
In a week with RM500m book order awarded.Believe further upside exists, both from contract roll-outs and as Perdana is positioned to acquire new vessels from its 7.4% shareholder Nam Cheong to ride the OSV recovery.
Expecting long-term OSV contracts MYR3b in contract tenders for up to 20 AHTS, 8 PSVs and 6 SSVs. expect PCSB, the operating subsidiary of PETRONAS, to seek up to 34 OSVs in 2013, believe that the vessels’ contract tenures will range between 5-6 years and be tendered in 2013.
Perdana....come on don't just stop at rm 1.21.... You got Rm 500 Million contract in hand.... Don't let other counter look down at you Perdana.... Show you the King of the Oil and Gas counter.....
More previous info.. Perdana Petroleum To Secure More Contracts Perdana Petroleum is expected to seek more long-term charter agreements after having secured a RM430 million contract to provide Petronas Carigali with four anchor handling tug supply units. According to one analyst with RHB Research, Perdana could secure a few more long-term charters for its other offshore support vessels (OSVs). RHB has maintained its ‘outperform’ rating on Perdana with fair value of RM1.31. Public Investment Bank on the other hand was more optimistic in its research report on Perdana, raising its target price to RM1.50 from RM1.31. This was based upon expectations that the new contract of RM430 million will boost bottom line by 30 percent in FY13 and 24 percent in FY14. Perdana also announced on Friday that it had been awarded two contracts worth a total of RM70 million for the provision of a workboat and workbarge for two separate firms. The news however has not convinced OSK Research to revise its rating on Perdana. Instead, the company has been downgraded to ‘neutral’ from ‘buy’, given the limited upside to its fair value of RM1.17.
Significance: According to OSK research, key re-rating catalysts include Dayang Enterprise increasing its stake in Perdana Petroleum and improving charter rates above US$2.0 per bhp across its vessels. Currently, even with the news on Petronas contract, analysts have priced Perdana’s charter rates at about US$1.90-2.00 bhp per day.
I think OSK research paper released after RM70 million award but just before RM 430 million biggie.Most likely they will issue an update and revise TP higher, at least I think they should.
normally an analyst will provide an update on any significant news that's going to have an impact on earnings...if news was out yesterday, then you'd get an update this morning. Timeliness is impt...not wait few days to come out with an update...then, the news is stale n would have no impact already...
Composit down 5.36 point but Perdana still up 2 cents.... consider very good performance today.... Hidup Perdana and Perdana-wa......2013 is Oil & Gas sector year..... we waiting for you ( Perdana ) up in double digit in the coming day.... See you at Rm 1.50 soon..... Pre-Chinese new year Ang Pow....
Perdana whole week up 0.11 cent closed at Rm 1.22 and hit weekly historical weekly high and yearly high. Back by Major share holder Dayang (19.9%) shake will assure more contract from Dayang this year as such profit for this year will be look good. More contract award to Perdana will give positif impact to share price. If not far away from TP given by some securities Rm 1.30.... and may break it by next Friday. Again this will not stop Perdana go further to TP Rm 1.50 in Chinese new year rally....... Hope can give us pre-Chinese New Year Ang Pow soon.....
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kltan
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Posted by kltan > 2013-01-07 15:47 | Report Abuse
The Board of PPB is pleased to announce that Perdana Nautika Sdn Bhd (“PNSB”), a subsidiary company of PPB, has secured from PETRONAS Carigali Sdn Bhd (“PCSB”) a letter of award (the “LOA”) for the supply of four (4) units of Anchor Handling Tug Supply (AHTS) vessels (the “Contract”).
DURATION OF CONTRACT
The charters will run effective from 1st January 2013 for a period of five (5) years each with extension options of an additional year.
RISK FACTORS
The risks associated with the Contract are normal operational risks which can be mitigated through PPB’s system of project management and internal business controls.
FINANCIAL EFFECTS
The LOA is valued at approximately RM430 million and is expected to contribute positively to the revenue and earnings of PPB Group for the financial year ending 31 December 2013 and the financial periods thereafter for the duration of the Contract. There will be no effect on the gearing of the PPB Group and the Contract will not have material effect on the net asset per share for the financial year ending 31 December 2013