Barakah third-quarter net profit rebounds to RM1.97mil on cost-cutting exercise Monday, 28 November 2016 | MYT 3:09 PM
KUALA LUMPUR: Barakah Offshore Petroleum Bhd has chalked up a net profit of RM1.97mil for the third quarter financial year ended Sept 30, 2016, compared with a net loss of RM15.4mil a year ago from cost reduction exercise that was implemented since the beginning of the current financial year.
During the quarter under review, revenue was higher at RM167.2mil against RM110.9mil in the previous corresponding quarter. Earnings per share stood at 0.24sen as opposed to a loss of 1.92 sen per share.
I will say none of the counter can buy now. you buy, you tikam only. counter profit ... down few sens... counter profit... can be also down 6 to 10 sen counter lose a bit of money... down 10 to 15 sen... counter lose a lot .... down like shit.. until you mad
all this TP given by share expert.... damn .... when stock down.. their TP will be lowered... share on uptrend... the TP very damn high... easy job... can introduce me a part time job... 1 day only spend few mins can bullshit.
Election is coming. Tabung Haji, PNB & EPF need a lot of $$ to support government for Election. They need push the stock market price up to get voter confident. 2017 is going to be a very good year for oil and Gas stocks.
Barakah Offshore Petroleum Berhad ("Barakah" or the “Company") is pleased to announce that its wholly-owned subsidiary company, PBJV Group Sdn Bhd (“PBJV”), has received the Letter of Award from MURPHY Sabah Oil Co. Ltd. and MURPHY Sarawak Oil Co. Ltd. (“MURPHY”) for the Provision of Production Riser Tensioner Overhaul, Maintenance and Upgrade for MURPHY Production Operations (“Contract”).
INFORMATION ON THE CONTRACT
Kikeh Production and Drilling Riser Tensioner (“PRT & DRT”) system is a critical component of Single Point Anchor Reservoir/Dry Tree Unit (“SPAR/DTU”). PRT & DRT is vital in maintaining the stability of SPAR and wellhead riser. The Contract involves the overhaul of Kikeh DTU to like new condition, and the modification and improvement of PRT to extend the service life.
FINANCIAL EFFECTS
The Contract value is around RM20.0 million for a duration of two years with an option for extension of one year; from expected commencement in December 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.
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.
KUALA LUMPUR (Dec 23): Barakah Offshore Petroleum Bhd's wholly-owned subsidiary PBJV Group Sdn Bhd has secured a contract from MURPHY Sabah Oil Co Ltd for the provision of production riser tensioner overhaul, including maintenance and upgrade works.
In a filing to Bursa Malaysia today, the group said the contract is valued at around RM20 million for a duration of two years with an extension option of one year, commencing December 2016.
"Kikeh Production and Drilling Riser Tensioner (PRT & DRT) system is a critical component of Single Point Anchor Reservoir/Dry Tree Unit (SPAR/DTU). PRT & DRT is vital in maintaining the stability of SPAR and wellhead riser.
"The contract involves the overhaul of Kikeh DTU to like new condition, and the modification and improvement of PRT to extend the service life," said Barakah.
It expects the contract to contribute positively towards the earnings and net assets per share of the group.
Barakah was untraded as at 12.30pm. The counter was last traded at 66 sen, translating to a market capitalisation of RM544.6 million.
this barakah... aiyo... got good order book... contract keep on coming in.... still profitable... if o&g improve, barakah got more contracts coming in... Aramco in RAPID soon.. so barakah will hv more contracts...
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....
steveooikp
4,689 posts
Posted by steveooikp > 2016-11-18 07:30 | Report Abuse
nobody in this counter? all sold at loss?