Posted by JayC > 2014-08-27 16:46 | Report Abuse

price dropping

Posted by shidayea > 2014-08-27 16:48 | Report Abuse

still owned a few lots.. almost 6 months..

Posted by skyz > 2014-08-27 16:59 | Report Abuse

my worst counter ever! sigh...

Posted by tchaipeng > 2014-08-27 17:07 | Report Abuse

When their Quarterly result out? good?

Posted by JayC > 2014-08-28 11:35 | Report Abuse

all O&G counter lao sai. so cannot blaim barakah

Posted by noraTan > 2014-08-28 11:35 | Report Abuse

the price is getting lower, how long must we wait?

Posted by smalltimer > 2014-08-28 11:37 | Report Abuse

limbo lower now, how low can u go?

Posted by delwyndel > 2014-08-28 17:40 | Report Abuse

quarter result is out..

Posted by lacoste > 2014-08-28 17:45 | Report Abuse

http://www.bursamalaysia.com/market/listed-companies/company-announcements/1724205

Posted by tchaipeng > 2014-08-28 21:53 | Report Abuse

Fantastic Quarter Result > Barakah 2Q net profit soars 129.8% on completed construction activities ! More projects are running until 2018 !!
(This is inline with UOB report earlier, target $1.96)

Posted by Mckay Smile > 2014-08-28 21:56 | Report Abuse

finally....good news. Have been keeping it for 8 months. Hope it will move up to near to the target price.

Posted by tchaipeng > 2014-08-28 22:25 | Report Abuse

Must have faith with Barakah even though most stocks going side-way and down.
Kindly don't dump this good stock, let's support it to target price $1.96. Thanks guys

Posted by another77 > 2014-08-28 22:30 | Report Abuse

At last a few good news. But I am still holding many at RM1.55 & RM1.56
Shiaz lor!

Posted by tchaipeng > 2014-08-28 22:47 | Report Abuse

I keep buying more today because this stock is very 'undervalue', it's all about Value Investing, guys!

Posted by tpchuayap > 2014-08-29 08:29 | Report Abuse

Happy Trading. Buy

Posted by tchaipeng > 2014-08-29 08:43 | Report Abuse

KUALA LUMPUR (Aug 28): Barakah Offshore Petroleum Bhd’s net profit for its second quarter ended June 30 soared 129.8% to RM12.35 million or 1.99 sen a share, while revenue jumped 176.7% to RM159.71 million.

In a filing to Bursa Malaysia today, the group said the increase in turnover was mainly due to the completion of topside installation work, the start of new transportation and installation contracts. and other construction activities carried out during the current financial period ended June 30, 2014.

Posted by tchaipeng > 2014-08-29 08:52 | Report Abuse

As at Aug 14, 2014, Barakah has an order book of approximately RM2.28 billion for secured contracts, over the next three to five years, it said.

It said the group’s prospects for FY14 will remain positive, given the commencement of the long-term Pan-Malaysia transportation and installation contract during the current period, as well as the on-going onshore engineering, procurement, construction and commissioning projects which will last at least until 2018.

Posted by tchaipeng > 2014-08-29 09:27 | Report Abuse

Full Result in Bursa Website:
http://www.bursamalaysia.com/market/listed-companies/company-announcements/1725705

Posted by tchaipeng > 2014-08-29 10:00 | Report Abuse

Kenanga Report:
--------------------
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 in September 2014.

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.

Barakah Offshore Petroleum Bhd’s subsidiary, PBJV Group Sdn Bhd, secured a RM260 million contract from Petronas Gas Bhd for the procurement, construction and commissioning of PENGERANG Pipeline. “Work for the contract is expected to commence immediately and is scheduled to be completed by the second quarter of 2016,” said the company.

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).

Source: Kenanga Investment Bank

Posted by RichandRich > 2014-08-29 13:23 | Report Abuse

can't agree anymore

Posted by tchaipeng > 2014-08-29 13:45 | Report Abuse

Buy Buy Buy .... collect before Saudi billion project in coming weeks (september) ... up side +25% (down side 0%)

Maybank IB:
9MFY14 core net profit made up 47%/43% of ours/consensus’ 15MFY14 forecasts – in line.

Crystalisation of tender pipeline - RSC, Saudi Arabia T&I & Pengerang works will catalyse earnings and sentiment.

Maintain BUY and MYR1.90 TP, pegged to 14x FD FY15 PER.
What’s New

3Q14 core net profit of MYR12m (+130% YoY; +12% QoQ) took 9M core earnings to MYR34m (+11% YoY). The QoQ growth was driven by stronger revenue contribution from its installation & construction operations (+12%). The key driver was the completion and delivery of the KPOC topside installation works in June’14.

This helped to offset weaker revenue from the pipeline & commissioning services (-30%) due to minimal works recognised for the Pan Malaysia T&I Package A works (MYR40m; started in June’14). As such, its KL 101 pipelay barge was relatively immobilised YTD (opex: MYR1.1m/mth).
What’s Our View

Our forecasts are unchanged. We expect earnings to improve over the next 6 months: (i) as contributions from Pan Malaysia Package A T&I work kick-in earnestly and (ii) interest savings (MYR6m p.a.) from the successful refinancing of its loans in July. Operationally, Barakah is scheduled to complete 3 T&I works this FY (value: ~MYR360m) for PCSB’s Dulang (platform-cable laying), Dalak (pipeline) and Labuan-Sipitan (shore approach) fields. For this, KL 101 will be operating at optimal level in Jul-Dec’14.

Order backlog stood at MYR2.3b (-5% QoQ) as at Aug 2014. Tender pipeline remains strong. It recently secured additional works for the Pengerang pipeline, which doubled the project value to MYR280m. Barakah is also in the running for several Pengerang related works (tie-in, piping; e.MYR300m; to be known in 1Q15).

Source: Maybank Research - 29 Aug 2014

Posted by in_the_money > 2014-08-29 15:37 | Report Abuse

Wow!! inching up to $1.51-$1.52 nicely. Thanks for the tips ! Something is brewing I believe someone collecting before more good news announcement :)
Share price Going up on the 'red sea' day ... very Bullish !!!

Posted by in_the_money > 2014-08-29 15:41 | Report Abuse

White Candlestick bar indicate upside, strong support at $1.50 .. bullish sign .. waiting to burst next Tuesday when investors and fund managers back after long holidays... Collect now !!! many Q to buy ...hmmmm :)

Posted by tchaipeng > 2014-08-29 15:58 | Report Abuse

In_themoney, you're buying into a Right company!

How much you think Barakah share price will be ?? when Barakah secure Saudi T&I project in coming weeks.

Look at the prospect .. great potential it ll go more than current target price $1.95

Posted by in_the_money > 2014-08-29 16:36 | Report Abuse

If Barakah secured the Saudi project I bet Barakah will be at $2.50 easily (versus $1.51 today)

Posted by tchaipeng > 2014-08-30 00:24 | Report Abuse

Just got this Petronas News on RAPID today, one of them being subsidiary of Barakah, PBJV

Petronas awarded 13 major contracts for Pengerang Integrated Complex
Written by theedgemalaysia.com
Fri Aug 29 2014 7:30:56 pm

KUALA LUMPUR (Aug 29)- Petroliam Nasional Bhd (Petronas) has awarded 13 major contracts and three Letters of Award (LOA) to the successful bidders of the Pengerang Integrated Complex (PIC) project in Johor. The recipients of these awards made up of local and international contractors.

Posted by DreamConqueror > 2014-08-30 18:21 | Report Abuse

Posted by in_the_money > Aug 29, 2014 04:36 PM | Report Abuse

If Barakah secured the Saudi project I bet Barakah will be at $2.50 easily (versus $1.51 today)
_______________________________________________________________________

What are their chances? Reasonable?

Posted by another77 > 2014-08-30 22:56 | Report Abuse

25% of mu investment is in Barakah, so far no moment. What Saudi Project? I never seem to be able to google Barakah's new project except the improve financial Q report? Anyone can share the news?

Posted by another77 > 2014-08-30 23:00 | Report Abuse

25% of mu investment is in Barakah, so far no moment. What Saudi Project? I never seem to be able to google Barakah's new project except the improve financial Q report? Anyone can share the news?

Posted by tchaipeng > 2014-09-02 09:02 | Report Abuse

Petronas awarded 13 major contracts for Pengerang Integrated Complex
Written by theedgemalaysia.com
Fri Aug 29 2014 7:30:56 pm
KUALA LUMPUR (Aug 29)- Petroliam Nasional Bhd (Petronas) has awarded 13 major contracts and three Letters of Award (LOA) to the successful bidders of the Pengerang Integrated Complex (PIC) project in Johor. The recipients of these awards made up of local and international contractors.

In a statement today, the national oil firm said total contracts awarded included five Engineering, Procurement, Construction and Commissioning (EPCC) contracts for the Refinery and Steam Cracker (RC) component of the PIC project.

“The component involves the production of petroleum products and the feedstock for the downstream petrochemical plants that are to be developed within PIC. The contracts were awarded to the international companies through a competitive bidding exercise grounded on merit and competency,” the statement read.

Meanwhile, eight contracts for the common Facilities and Infrastructures projects were awarded to local companies. The projects include the next second phase of land clearing, construction of haulage and access roads, a material off-loading jetty, as well as the construction of common camp facilities.

“These facilities lay the foundation for the construction and moving forward of the project’s development. At peak construction, an estimated 52,000 jobs are expected to be available,” said the national oil firm.

In addition, the consortium of Technip-Fluor was awarded an LOA as Engineering, Procurement and Construction Management (EPCM) Contractor to manage the Utilities, Interconnecting and Offsite (UIO) facilities.

Technip-Fluor was earlier engaged as Program Management Consultant to work with Petronas as an Integrated Project Management Team (IPMT) to orchestrate the overall project and site management of RAPID, whilst at the same time, provide Project Management Services for specific EPCC packages within RAPID.

Earlier, PIC contracts awarded included a PMC services contract to SMHB Sdn Bhd in April 2014, two Procurement, Construction and Commissioning (PCC) contract to Konsortium Asia Baru-PPC JV for PAMER and PBJV/CPM (Barakah), and an EPCC contract and Long Term Service Agreement (LTSA) to Consortium of Siemens AG, Siemens Malaysia Sdn Bhd and MMC Engineering Services Sdn Bhd in June 2014.

PIC comprises of the Refinery and Petrochemical Integrated Development (RAPID) complex and its associated facilities including the Pengerang Co-generation Plant (PCP), Re-gasification Terminal 2 (RGT2), Air Separation Unit (ASU), Raw Water Supply Project (PAMER), Crude and Product Tanks (SPV2), as well as central and shared Utilities and Facilities (UF).

Developed within a 6,242-acre site in Pengerang, Johor, PIC forms part of the Johor State’s Pengerang Integrated Petroleum Complex (PIPC), which is under Malaysia’s Economic Transformation Programme (ETP). RAPID is estimated to cost US$16 billion while the associated facilities will involve an investment of about US$11 billion. PIC is poised for its refinery start-up by early 2019.

Posted by Alex Lim > 2014-09-03 18:26 | Report Abuse

BARAKAH OFFSHORE PETROLEUM BERHAD

AWARD OF CONTRACT



INTRODUCTION


Barakah Offshore Petroleum Berhad ("Barakah" or the “Company") is pleased to announce that its wholly-owned subsidiary company, PBJV Group Sdn Bhd (“PBJV”), has entered into an agreement with Lundin Malaysia B.V (“Lundin”) for the provision of hook-up, commissioning and topside major maintenance services (“Contract”).


INFORMATION ON THE CONTRACT


The Contract comprises provision by PBJV of hook-up, commissioning and topside major maintenance services for offshore oil and gas fields for Lundin. The value of the Contract will depend on the Work Order to be issued by Lundin for the duration of the Contract. The Contract duration is from 14 August 2014 to 4 February 2016.


FINANCIAL EFFECTS


The Contract is expected to contribute positively towards the earnings and net assets per share of Barakah Group for the duration of the Contract.


RISK FACTORS


Risk factors affecting the Contract include, but not limited to, execution risks such as availability of skilled manpower and materials and changes in prices of materials. Barakah Group has, throughout the years, established its track record and expertise to undertake such projects.


As such, the management of Barakah Group believes that the Group is able to mitigate the abovementioned risk factors.


DIRECTORS’ AND MAJOR SHAREHOLDERS' INTERESTS


None of the Directors and/or major shareholders and/or persons connected with the Directors and/or major shareholders of the Company has any direct or indirect interest in the Contract.


This announcement is dated 3 September 2014.









--------------------------------------------------------------------------------

Announcement Info
Company Name BARAKAH OFFSHORE PETROLEUM BERHAD
Stock Name BARAKAH
Date Announced 3 Sept 2014
Category General Announcement
Reference No CC-140903-62844

Posted by NewBeginner > 2014-09-03 21:13 | Report Abuse

good day tomorrow?? lol

Posted by helloQst > 2014-09-03 22:20 | Report Abuse

got contracrt,..??? still dropdropdrop??????zzzzzzzzzzzzzzzzzzzzzz

Posted by granto > 2014-09-04 08:18 | Report Abuse

Lundin awards maintenance contract to Barakah Offshore Petroleum: http://www.seashipnews.com/News/Lundin-awards-maintenance-contract-to-Barakah-Offshore-Petroleum/3w3c2594.html

Posted by tchaipeng > 2014-09-04 09:16 | Report Abuse

http://www.theedgemalaysia.com/business-news/305798-barakah-bags-rm30m-huc-contract-from-lundin.html

Posted by tchaipeng > 2014-09-04 10:34 | Report Abuse

Barakah bags RM30m HUC contract from Lundin
Written by Jeffrey Tan of theedgemalaysia.com
Wed Sep 03 2014 10:55:51 pm

KUALA LUMPUR (Sept 3): Barakah Offshore Petroleum Bhd has bagged a hook-up, commissioning and topside major maintenance (HUC) services contract worth RM30 million from Lundin Malaysia BV, according to a Barakah official.

“The contract is valued at some RM30 million, which is dependent on the work order that will come in progressively,” the official told The Edge Financial Daily today.

“The rates of the contract are similar to Package C, which is the HUC job for Petrofac, Newfield and Talisman,” he added.

In a filing with Bursa Malaysia today, Barakah announced that its wholly-owned subsidiary PBJV Group Sdn Bhd had entered into an agreement with Lundin for the HUC job.

The contract duration is from Aug 14, 2014 to Feb 4, 2016.

"The contract is expected to contribute positively towards the earnings and net assets per share of Barakah Group for the duration of the contract," said Barakah.

Posted by tchaipeng > 2014-09-04 10:37 | Report Abuse

Why wait? Buy now at today's price still "very undervalue". Kenanga, Maybank IB, RHB, UOB Kay Hian, Hong Loeng securities all CALL for BUY.

Posted by in_the_money > 2014-09-04 10:50 | Report Abuse

“The rates of the contract are similar to Package C, which is the HUC job for Petrofac, Newfield and Talisman,” --> so the news means ..

Barakah also having same type of projects with 3 other companies? namely
1. Petrofac
2. Newfieldou
3. Talisman
4. Lundin (latest)
5. (more projects to come including Saudi Ti Projects ... )

Posted by tchaipeng > 2014-09-04 11:07 | Report Abuse

Yup, you're right those Barakah's HUB customers and more big MNCs too (see the link below):
http://www.barakahpetroleum.com/bop/index.php/our-client

Cash Cows are everywhere ..

Frankly we should not gamble with speculative stocks instead we shld all go for good fundamental stocks.

Posted by yusmaizi > 2014-09-04 12:26 | Report Abuse

barakah,,barakah,,barakah...

Posted by another77 > 2014-09-04 13:28 | Report Abuse

NickFury, are you sure that is what it mean? I thought you add 20 cents + LA to get 1 mother share?

Posted by another77 > 2014-09-04 15:12 | Report Abuse

Thanks NickFury for the info. I remember reading somewhere a brokerage house is asking to purchase LA instead of Mother share. As long as I have LA, I can redeem the mother by adding 20 cents, not?

Posted by JayC > 2014-09-04 15:56 | Report Abuse

1. there is risk of conversion, but the risk is not big. maybe less than 5% risk.
2. directors hold more than 40% of RCULS. if they redeem, they will also face huge losses. They lose 0.2-1.38 = RM1.18 against 25% dillution to motherh around RM 0.35. which do not make sense.
3. most research house fair value already included the dillution of the RCULS.

Posted by JayC > 2014-09-04 16:37 | Report Abuse

from Maybank, before dillution is 627million share. after dillution is 863.3million share

Posted by JayC > 2014-09-04 17:00 | Report Abuse

Just need to look at 1 person......NIK HAMDAN BIN DAUD 57.6% shareholder, who owns more than 40% of RCULS.
do you think he will allow RCULS to lose money?

Posted by anbz > 2014-09-05 07:48 | Report Abuse

Iculs become mother? Run run run

Posted by JayC > 2014-09-05 10:56 | Report Abuse

from the graph of mother share which is trending down towards RCULS price, the market is pricing in that RCULS will not be redeemed

Posted by Alex Lim > 2014-09-05 12:36 | Report Abuse

hold until Saudi news out......in this month (expected)...

Posted by tchaipeng > 2014-09-05 13:49 | Report Abuse

Can any1 clarify this LA thingy? how it works? Any doubt and ambiguity not going to be good

Posted by another77 > 2014-09-05 14:15 | Report Abuse

I think Nickfury just explained what will happen to the LA. Next is you have to make you own decision. May be asked your broker?