Barakah Offshore Petroleum (BARAKAH MK) by Thong Jung Liaw Share Price: MYR0.06 Target Price: MYR0.01 Recommendation: Sell 15MFY19: A miss Results came in below our expectation, which led to a 57% rise in our 18MFY19 core loss estimate. Barakah is now a PN17 stock following the default of its loans. It needs to address its under-utilised assets and rising debts. We do not rule out an impairment/ fire-sale exercise of its KL101 vessel (single-largest cost component) to resolve this issue. We cut its TP to MYR0.01, pegging it to 0.1x BV, reflective of peers that face similar debt default risk.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Realistic Investor
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Posted by Realistic Investor > 2019-05-31 09:16 | Report Abuse
its proven all shareholder resist to sell even 0.55. wow be patient investors.