I has been working in oil and gas industry for past 5 yrs. Moving from consultancy up to contractor company. I can only say perdana and dayang belongs to extreme cyclical maintenance company. Once their mantainance contract finish which last 6 to 8 months, then profit will shrink tremendously. They are not like armada and sapura that have contracts last for few yrs.
This quarter no good is because of the following as seen in "prospects" of the quarterly announcement:
While Perdana Petroleum reported losses for the first quarter of 2019, this came as no surprise as our chartering business is typically negatively affected by the inclement weather at the beginning of the year. Nevertheless, we are encouraged by the year-on-year improvement in our financial performance in the first quarter of 2019 which has seen a marked reduction in the losses.
Prospects While Perdana Petroleum reported losses for the first quarter of 2019, this came as no surprise as our chartering business is typically negatively affected by the inclement weather at the beginning of the year. Nevertheless, we are encouraged by the year-on-year improvement in our financial performance in the first quarter of 2019 which has seen a marked reduction in the losses. Despite the seasonally slower quarter, our quarterly revenue grew by 35% year-on-year as our vessel utilisation improved to 36% as compared to 27% in the first quarter of 2018. We believe that the ramp-up of work orders and the increase in charter contracts in the subsequent quarters will bode well for our vessel utilisation and help us to attain better profitability for the current financial year. Going by the work schedule for our major shareholder, Dayang group which is also our key client, we expect a robust activity level to be sustained for the remaining of 2019 which will result in higher demand for our vessels, thanks to the high number of vessels that have been earmarked for Dayang’s offshore maintenance and hook-up contracts with various oil majors. We believe 2019 will be an inflection point for Perdana to turn around its business after weathering various challenges over the past few years. We believe that our streamlined operations and the synergistic collaboration with Dayang group will help us to emerge stronger going forward.
Today price already drooped 10%, more or less reflected the poor quarterly results. Big boy will not let it drop more otherwise RCPS will be no meaning if selling price too low. Plus, mgt already guided that results expected to be better for remaining 2019 and first quarter is seasonally slower quarter affected by monsoon.
when lost making perdana price shoot up from 20sen in Jan to above 50sen in March...someone is playing the fool. Time to quit then.. Wait for it to drop to 23 then only consider....wakakaka
Aminvest giving discount from its valuation of 36cents, hongleong giving valuation of 33cents, hwangaffin giving 31cents valuation (all these not target price, is fair valuation price), so by right the actual fair price is around 0.33 to 0.36
But the big shark still collecting the super cheap shares around 0.18 to 0.19
But before Armada being awarded the court winning for Woodside claim, 20cents gap up, that time will worth for 0 50+++
It is actually going to be good for ASEAN economies, including Malaysia. China is going to buy more essential goods, like palm oil for instance, because they're going to buy less American soya as part of their retaliation.
And who knows, US might even be sourcing more consumer goods from Malaysia, because China goods are going to become more expensive for them.
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azta12
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Posted by azta12 > 2019-05-21 09:03 | Report Abuse
collect and hold