Posted by MikeT > 2014-02-26 10:11 | Report Abuse

crawler, i cuba nasib aja cos so many ppl wanna dump this share.

Posted by leo123 > 2014-02-26 10:13 | Report Abuse

bara 161

Posted by crawler > 2014-02-26 10:14 | Report Abuse

is oversold la my friend...you all are the victim of the big fish

Posted by MikeT > 2014-02-26 10:15 | Report Abuse

haha crawler. i tarak jual. i mau beli lagi if turun

Posted by leo123 > 2014-02-26 10:16 | Report Abuse

Barakah said : i'm back

Posted by Icon8888 > 2014-02-26 10:17 | Report Abuse

it should go all the way back to 185

Posted by Icon8888 > 2014-02-26 10:18 | Report Abuse

the buying now is probabaly due to Maybank analyst releasing his / her report to clients

Posted by Icon8888 > 2014-02-26 10:18 | Report Abuse

my guess lah

Posted by Lollipot Anison > 2014-02-26 10:27 | Report Abuse

haha those who wish to buy at 1.4 next time la. In at 1.53 ytd hehe

Posted by Icon8888 > 2014-02-26 10:30 | Report Abuse

welldone lollipop

Posted by LuckyLucky > 2014-02-26 10:34 | Report Abuse

good to see barakah rebound....

Posted by stock > 2014-02-26 10:37 | Report Abuse

pure short squeeze then uptrend now ??

Posted by Can17 > 2014-02-26 10:46 | Report Abuse

Maybank analyst is suspect. Its target price has moved from RM1 to RM1.85 over a short period of time. Good Luck.

Posted by MikeT > 2014-02-26 10:51 | Report Abuse

lollipot lucu. cakap syok sendiri

Posted by Lollipot Anison > 2014-02-26 10:53 | Report Abuse

no point to argue here miket. I think you also bought some right yesterday?

Posted by MikeT > 2014-02-26 10:56 | Report Abuse

of course i bought lollipot. i was hoping if drop i whacked somemore la. average out.

Posted by Zam > 2014-02-26 10:59 | Report Abuse

Get to know the history of barakah and PBJV group. Maybe it will help you guys

Posted by crawler > 2014-02-26 11:00 | Report Abuse

eh..buy stock have to take some risks la...no risks no gain...kalau mau safe then play something called Maybank Online Stock Games

Posted by MikeT > 2014-02-26 11:02 | Report Abuse

crawler, banyak masuk? dubai announcement end of feb?

Posted by adrianghw > 2014-02-26 11:06 | Report Abuse

Be patient, don't so rush. Now the price still unstable. Just average it when it is stable again mah. :-)

Posted by crawler > 2014-02-26 11:07 | Report Abuse

look forward..the price will move up very fast as we debate here :)
I do hope it will suspend for Saudi Aramco Award and limit up thereafter.

Posted by Anw412 > 2014-02-26 11:12 | Report Abuse

UOB KH back in January report even put it this way.
our back-of-the-envelope calculation projects 2.30-2.50 if it wins the Saudi Aramco bid.

another interesting story is that Barakah currently in discussing to refinance its debt which if successful will save half the current interest they're paying for now.

Both will contribute significantly to its bottom line.

Lets pray hard and hopefully it will soon fly to new heights.

Posted by Icon8888 > 2014-02-26 11:19 | Report Abuse

the refinancing will save them RM6m per annum (according to Maybank). That would be approximately 15% of existing net profit of RM40m

Posted by Icon8888 > 2014-02-26 11:21 | Report Abuse

i dont expect them to pocket the saudi deal. They are only one of three shortlisted. Too early to say.

Posted by 8u29song > 2014-02-26 11:28 | Report Abuse

wow......sui... chun......

Posted by Icon8888 > 2014-02-26 11:29 | Report Abuse

185 soon

Posted by Alex Lim > 2014-02-26 11:43 | Report Abuse

people who trapped few days before start cabut.......

Posted by ultramantoron > 2014-02-26 11:45 | Report Abuse

dont panic people..goreng people come and freak you out u suda goyang..rugila

Posted by Icon8888 > 2014-02-26 12:00 | Report Abuse

hot from the oven, Maybank said :

"1Q14 core net profit of MYR11m accounts for 15% of our 15- month FY14 earnings forecast.

Bagging the on-going Saudi Arabia T&I tender is key to further re-rating.

Maintain BUY and MYR1.85 TP, pegged to 14x FY15.

(What’s New)
1Q14 core profit was within our expectations, on the back of a 35% YoY/1% QoQ decline in core earnings. Headline net profit included a MYR7m one-off loss, mainly related to the listing exercise.

(What’s Our View)
The underlying YoY weakness in core earnings was largely due to the higher operating expenses related to the low utilisation of its pipelay unit; KL 101. The vessel, delivered in 2012, was immobilised since Nov 2013 for slight maintenance works in preparation for the PETRONAS T&I job in Jun 2014. The lower revenue from installation and construction services (-50% YoY) also contributed to the weaker YoY earnings.

Our forecasts are unchanged. Trend-wise, we expect 2Q performance to mirror 1Q before earnings pick up from 3Q as contributions from PETRONAS T&I works kick in. In the meantime, it has seven on-going short tenders worth MYR150m as it aims to keep utilisation reasonably high.

The Saudi Arabia T&I job is still pending and the award will be announced soon. Barakah is in contention with 2 tenderers for this job, of which one of them is an incumbent. Securing this job win worth about MYR2-2.5b would be a major positive to earnings and franchise. Our back of envelope calculation suggests an additional MYR50-70m p.a to net profit and potentially a 51% rise in target price."

Posted by 8u29song > 2014-02-26 12:01 | Report Abuse

under attack ! mayday, mayday, m'aidez......

Posted by jazzymoments > 2014-02-26 12:06 | Report Abuse

1.61 1.60 one shot blink of an eye kantoi.....well played bara sharks

Posted by drnumberuntung > 2014-02-26 12:25 | Report Abuse

Teknikal correction now... hehehe

Posted by kingleecha > 2014-02-26 12:27 | Report Abuse

Walau, quarterly report so bad still can up..xD..This is magic done by "goreng" investor.

Posted by qwertyuiop > 2014-02-26 13:15 | Report Abuse

lol another one doesnt know how to analyze report . Haha.

Posted by manutdchampion > 2014-02-26 13:16 | Report Abuse

why u know quaterly report bad?

Posted by kingleecha > 2014-02-26 13:23 | Report Abuse

Walau, quarterly report so bad still can up..xD..This is magic done by "goreng" investor.

The truth --> Profit & revenue decreased so much
News --> Just trust the news broadcasted without examine its P&L? LOL

Posted by crawler > 2014-02-26 13:25 | Report Abuse

still got people trying to misled investor in believing this is a bad report...maybe they don't know how to read

Posted by orlando > 2014-02-26 13:31 | Report Abuse

these people know nuts abt reports..

Posted by qwertyuiop > 2014-02-26 13:34 | Report Abuse

This kingleechia has been acting as a joker since Barakah was 1.4. Lol

Posted by Icon8888 > 2014-02-26 13:38 | Report Abuse

Never mind, we just quietly make money ourselves.

Posted by budakampung > 2014-02-26 14:06 | Report Abuse

Bole masuk lagi ini harga?

Posted by KAQ4468 > 2014-02-26 14:12 | Report Abuse

Happy Trading to all..
Now enjoying the show..smile everyone..

RM 1.530 is best price for me managed to acquired yesterday..all out..

Looking for RM 1.9 TP

Posted by lee9fold > 2014-02-26 14:13 | Report Abuse

king lee cha is always a joker...every 1 knows

Posted by emmelie > 2014-02-26 14:14 | Report Abuse

It is kinda expected for 2013 profit to be lower due to the new contract awarded and setting up manpower and equipment cost incurred in Q4 2013. It will be better defined during this year when work orders starts kicking in.

Posted by qwertyuiop > 2014-02-26 14:20 | Report Abuse

Try look at the administrative and other expenses , lazy it explain.

Posted by WRY9876 > 2014-02-26 14:53 | Report Abuse

buy a counter for its long term prospect..kalau mahu main jangka pendek sila main saham penny..sumatec sentiasa ada untuk anda.

Posted by kingleecha > 2014-02-26 15:03 | Report Abuse

quarterly report so bad still can up..xD..This is magic done by "goreng" investors.

The truth --> Profit & revenue still decreased
News --> Just trust the news broadcasted without examine its P&L? LOL

Posted by Anw412 > 2014-02-26 15:10 | Report Abuse

Period 1Q14

Actual vs. Expectations Reported 1Q14 core net profit of RM11.1m which accounted for 14.3% and 15.7% of our and consensus full-year FY14 forecasts of RM77.6m and RM70.7m, respectively.

We deem the results as within expectations as the 1H of the financial year is typically weaker on seasonal factor due to the monsoon season.

We have restated BARAKAH’s earnings to include: (i) the one-off gain on disposal of subsidiary Vastalux Energy Bhd, (ii) one-off impairment loss on goodwill and, (iii) its IPO listing expenses.

Dividends No dividend was declared as expected.

Key Results Highlights

QoQ, revenue declined by 5% to RM82.8m mainly due to a decrease in the turnover generated from installation and construction segment as there was lesser revenue generated from barge chartering and T&I projects in the current quarter.

YoY, 1Q14 core net profit was down by 30.9%, mainly due to lower barge income and higher administrative costs as the company built up its orderbook and went for a public listing last year.

Outlook Management guided that 1H14 results could be seasonally lower due to the monsoon factor. However, things will pick up in 2H14 on the back of higher installation and construction activities.

The secured orderbook stands at RM2.24b which provides earnings visibility for next three years. We understand that BARAKAH has been actively involved in bidding for new projects with its current tender book of RM3.0b, comprising 70 oil and gas projects.

We believe that the commissioning segment is able to provide Barakah stable earnings as it has a 90% win rate in the commissioning market every year with its excellent track record.

Besides that, Barakah is looking to secure T&I international work from the Gulf Region through its existing joint-venture partner in Saudi Arabia, which is expected to be awarded this year.

Additional growth for the T&I segment will hinge on BARAKAH’s future asset expansion. We understand that the company might expand the asset base in line with the expansion in contracts awarded.

Change to Forecasts Due to change of financial year end (from FYE September to FYE December), we have adjusted our FY14E and 15E forecasts to RM111.5m and RM130.8m.

Rating Maintain OUTPERFORM.

Valuation We maintain our target price of RM1.98, which is based on an implied target PER of 13x on CY15 EPS of 15.2 sen.

We believe our valuation for BARAKAH is still reasonable as we are valuing it at a 13.3% discount to the 15.0x PER ascribed to industry peers such as ALAM (OP; TP: RM2.07) given its smaller asset base (it currently owns only one pipelay support vessel).

Risks to our call (i) A downturn in the oil & gas sector could result in delays in contract rollouts. (ii) Delay in the Pan-Malaysia’s T&I project, which will reduce the potential earnings being factored in our forecasts. (iii) Lower-than-expected margins.

Source: Kenanga

Posted by investkaki > 2014-02-26 16:42 | Report Abuse

king lee cha......2cts clown

Posted by keith94 > 2014-02-26 17:16 | Report Abuse

can enter at this price?