All contracts awarded to others also never mention the contract value. The share price of the stock awarded the contract will move up higher after this announcement. Hope this good news will help to move up the share price of Carimin. Thank you.
Carimin needs to wake up soon. It is on the buy list of many notables. From trading pattern too many T+3 kakis are involved. These guys must take it easy; in its present mode Carimin is not suitable for play -play. Good luck anyway.
If the company can maintain the significant big jump in its quarterly revenue seen in the last two quarters for the remaining current financial year, then its share price may be able to climb above the RM2 mark in the next 8 months. Let's first see its next quarterly result by end of February.
It's funny enough where Dayang and Carimin are awarded similar Petronas contract but Dayang reacted fiercely by up 0.20++ but Carimin was downtrend since the same contract awarded.
Carimin appears to be still sleeping. Maybe we should look at other counters in peaceful slumber like Mflour and Willow, in the hope that one will wake up in good time, to give an ANG POW. Good luck Fellow Investors!
Going forward, Carimin’s earnings momentum is expected to be underpinned by two main factors. Firstly, we expect high levels of maintenance works for the HUC and TMM segments in 2020.
Secondly, Carimin’s venture into sub-sea activities is expected to contribute positively as it commands higher margins compared with its existing MCM business. To recap, Carimin ventured into the sub-sea segment with the acquisition of a 60% stake in Subnautica Sdn Bhd in March 2019.
(Subnautica has been licensed by Petronas to undertake subsea underwater inspections, repair as well as maintenance (“IRM”) works and services. These services typically encompass platform and pipeline inspection, structural integrity as well as debris clearance activities.
Subnautica has been awarded a contract for the provision of a Dynamic Positioning 2 (“DP2”) diving support vessel that includes an inspection class remotely operated vehicle (“ROV”) with competent personnel. Through this acquisition, Carimin was able to immediately provide subsea IRM capabilities, thus benefiting from the contract secured. The medium-term to post-2020 demand outlook remains favourable for Carimin’s new subsea business as Petronas in its execution of scheduled underwater services programme supports the use of locally owned assets.)
It has a strong balance sheet with a net cash (including short-term investments) position of RM106mil (equivalent to about 37% of its market cap) as of end-September 2019.
Carimin’s resilient balance sheet has enabled the company to weather the recent oil and gas industry downturn without the need for an equity call.
Valuation-wise, Carimin trades at a price earnings ratio of 8x for FY20, which is at a discount to its peers and the market.
U.S. West Texas Intermediate fell 2.8%, or $1.45 per barrel, to settle at $50.11 per barrel. Earlier in the session, WTI fell more than 3% to $49.92, its lowest level since Jan. 2019.
International benchmark Brent crude dropped 3.9%, or $2.21, to $54.41 and hit its lowest level since Jan. 3, 2019.
KYY is pushing up Carimin to show that he's better than otb. Once up further otb will inform his subscribers the buy signal is out, then kyy will make a sell down.
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....
mohdkhidir
5 posts
Posted by mohdkhidir > 2019-12-30 13:48 | Report Abuse
https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3012573