ACCORDING to Hong Leong Investment Bank (HLIB), Scomi Energy Services Bhd (SES) is actively expanding its team on integrated project management, by building up its integrated capability that include drilling management, sub surface, production, facilities management and operation and maintenance.
It said SES could handle projects from marginal, brownfield and enhanced oil recovery which presented enormous opportunity. The potential markets are Malaysia, Indonesia and Myanmar.
It was confident that SES would secure more risk-sharing contracts and venture into brownfield or enhanced oil recovery businesses in the near future.
On SES’s Ophir marginal field, it said the company mobilising works were on track with drilling expected to start in mid-2015 and scheduled to hit oil by end-2015.
HLIB said SES’ first quarter financial year 2015 (FY15) results report noted that drilling activities in Malaysia had picking up with rig counts increased from four rigs in June 14 to six rigs in Sept 14 and were expected to hit 12 rigs by end of financial year 2015 (FY15).
HLIB saw multiple growth catalysts in SES due to potential expanding orderbook from RM5.5bil to RM7bil. It saw potential upside risks to its earnings forecast at a three-year compound annual growth rate of 50% with price-earnings ratio to fall to only seven times in calendar year 2016.
bro ymtan : Budget is about income and expense, so I don't think it will touch anything about HSR. It's currently at feasibility study stage, maybe next year's budget will touch. Maybe can hope for a few more monorails?
LOL. Shah Hakim sold his shares..... But no via open market. It would means a new investor has just came on board. He sold it at 0.375 sen. I'm guessing he is desperate for someone influential to come and help Scomi. Would be eagerly await to see who is the new investor.
After some further thoughts, it means both Shah Hakim and buyer values Scomi at 37.5 cents. For such low volume, buyer can easily buy from the open market, but did not. So we should be very lucky if it doesn't drop when market opens.
When sell in bulk usually would be at a discount. Unless is take over offer. Same goes to std chartered when they sold to quek and the team. It wasnt really the value. Is about the benefit. Knowing new investor would help to drive the share price up, I would have done the same.
Lol, what a funny little stock. When market sentiment went up, their movement stagnant and when market on downtrend they went down. It seem like they only correlated with downtrend.
But I still believe Scomi is something that we can look in future. At least they have the best of both world (Engineering and oil & gas sectors). At least, they can diversify their businesses. Even their trailing PE starting to show some lower double digit figures.
Good morning. Pang..u wake up so early .. well, I would said most probably it wilk be a jv project with oversea expertise .. do u think we have expertise in HSR meh..
sunny tan : tat is old news, but this counter really bad. When market sentiment went up, their movement stagnant and when market on downtrend they went down. so better dun touch such counter now, market is unstable and need time to recover back! i thought end of this month only ll go down to 0.33, today already drop 0.025 now is 0.345 so near, no support level at all ! terrible luckily i cut loss at 0.40!
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Posted by ymtan > 2014-10-03 09:53 | Report Abuse
Will budget 2015 going to touch on HSR project ??