Just two days ago, Uzma Bhd won three umbrella contracts from Petronas Carigali Sdn Bhd. Today, it announced another contract from Petronas Carigali to supply a 340K and 460K Hydraulic Workover Unit.
It was awarded to its wholly-owned subsidiary Uzma Engineering Sdn Bhd (UESB). The tenure of contract is three years starting from Dec 22, 2017 till Dec 21, 2020, with an extension option of one year.
The umbrella contract does not constitute a commitment for any specific work and the execution of the umbrella contract depends on work orders to be issued to UESB from time to time at Petronas Carigali's discretion. Hence, there is no form value for the umbrella contact.
Yes. Those confirmed awards are certainly pieces of solid good news. Today price moved higher and closed at recent high. Good sign. If those oil & gas kaki come over here to goreng goreng a bit.... the price will fly faster.. Ha ha ha.
becareful of EPF factor,every time they enter market,the counter expected drop like Signature,SAP Energy,Prlexus ets.but we dont know the reason behind.
hai everybody,have u realise tonight US federal reserve will increase their interest? when USD up RM will drop.so what will happen to our KLSE / O & G?
Uzma announced that it was awarded from Petronas for an umbrella contract for the Provision of Well Abandonment Integrated Services. The tenure of the umbrella contract is 2 years from 29 Mar 2018 to 29 Mar 2020, with an extension option period of 1 year. While we are positive on the contract announcement, we believe the earnings impact from the contracts to our forecast is still not significant as the revenue would only be booked when the work order is issued by Petronas. On top of that, we believe the margin for the contracts would not be far off from our existing assumed EBIT margin of 6%. Maintain forecast and HOLD call with unchanged TP of RM1.46 (12x FY18 P/E).
That is the lowest and they have no chance to make a comeback. I used to be one of their contract user in one of the biggest Malaysian oil and gas operator, most of their contracts won were not because of their credibility, but more than because of they are directly linked to the previous gov (BN) crony. To be honest, with a fair bidding after this, they will never win any single contract as people in the industry know their real capability. Now only we are talking they are on a fair game. Welcome to the real world Uzma.
I just saw the latest financial standing of Uzma. Why the PBT is tooooo low? You are just making 3% ebitda?????? WTH happening? I am confuse now. Think to buy some share while it is losing value, but i dont think it will bounce back.
So far only Dialog, Bumi, Yinson and Hibiscus are gerating good profit when oil price up. Dialog is sure win with Pengerang, Hibiscus the only real oil producer, the rest of are service companies rely on oil company for job: barakah, Uzma, Perisai, Icon, Alam, UMW, Petra, Carimin, Scomi, T7, many more all are in deep trouble, so the choice is easy, don't buy on what people told you, do you own calculation. Also stay away from oil companies associated with Khazakstan like Sumatec and Reach, too much fishy. Best bet in this oil cycle up will be Hibiscus, next Dialog, then Yinson and Bumi.
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dompeilee
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Posted by dompeilee > 2018-01-11 21:07 | Report Abuse
Still got 62% of my position entered early this year.