Tawkey besar Quek suka sangat main saham beberapa tahun ni. Dulu Hibiscus dia goreng, Narra dia goreng, entah apa lagi abang dah lupa. Kita tengok Scomi berapa tinggi dia goreng
Shares of Scomi Energy Services Bhd continued to climb following news that Tan Sri Quek Leng Chan, the major shareholder of the Hong Leong group, had taken up a substantial stake in the company.
The company’s shares closed up 9.5 sen to RM1.09 yesterday, with 54.18 million shares being traded.
Shares of other Scomi-related stocks also saw an uptrend. Holding company Scomi Group Bhd added 5.5 sen to 45 sen, with 95.25 million shares being traded, while Scomi Engineering Bhd rose six sen to 49.5 sen, with 3.48 million shares being done.
Hong Leong Investment Bank (HLIB) Research said in a report yesterday that it was upbeat about Quek’s entry as a shareholder, noting that it saw possible synergy in the future with TH Heavy Engineering Bhd, in which Quek has a 9% stake.
“We view Quek’s entry into Scomi Energy is at the right and exciting time, given its potential risk service contract (RSC) win,” it said.
According to market talk, the company is close to securing the RSC from Petroliam Nasional Bhd to develop a marginal oilfield off the coast of Terengganu.
HLIB said it was maintaining its “buy” call on the stock, with a target price of RM1.02. “We maintain our ‘buy’ call, as the potential win of the RSC contract will boost our target price to RM1.18 (which provides a 19% upside from the current share price).”
Stock market data showed that 268.79 million shares, or an 11.48% stake, were traded off-market last Friday at 76.5 sen a share.
The block’s seller is believed to be its second-largest shareholder, Standard Chartered Private Equity (PE) Ltd, which held a 11.5% stake in Scomi Energy. This would make Quek the second-biggest shareholder in Scomi Energy, after Scomi Group Bhd which holds 65.7%.
“We are positive on the entry of a new strategic investor, given that it will remove the share overhang concern, as we understand that Standard Chartered PE had been looking to dispose of its stake for months now,” said HLIB.
One industry observer noted that Quek was a savvy oil and gas (O&G) investor, whose expertise would be an advantage to Scomi Energy.
“Quek has acquired stakes in various O&G outfits. His know-how about the industry will benefit Scomi Energy,” he said.
asrizal..I bearish??haha..on the contrary..sry if my comments on Quek as a shrewd investor is viewed negatively..i'm still holding @0.38 for more than 6 mths n also waiting for blast off as stated below...cheers..
Posted by BuLLRam > Feb 17, 2014 10:26 AM | Report Abuse X
hang on, after scomies blast..scomi will follow...
c'mon break 0.50, so close...anyway to me it's still a buy call. just picked up some at 0.495...pretty sure it'll surpass 0.50...waited for a long time
what is scomi's valuation before quek leng chai entered?
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Posted by BuLLRam > 2014-02-17 11:57 | Report Abuse
quek is a shrewd investor..now seriously going into O&G after TTH...ur risk..