Bursa Malaysia Stock Watch
Perdana Petroleum, Wah Seong - Perdana Exits Petra Energy
kltrader
Publish date: Wed, 04 Jul 2012, 02:00 PM
kltrader
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Changing of the guard. Perdana Petroleum's exit from Petra Energy (PE) via the sale of its remaining 26.9% stake to Wah Seong Corp (WSC) for MYR96.9m (MYR1.68/share) is not unexpected. While this removes a source of earnings, Perdana is now a leaner organisation - making it a more interesting acquisition/merger candidate. For WSC, the deal is EPS-enhancing and allows it to expand horizontally in the O&G value chain. WSC remains a BUY with a MYR2.40 TP on FY13 PER of 13x. Perdana is a HOLD with a MYR0.55 TP on 0.6x PBV.
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Source: Maybank Research - 4 July 2012
Click here for full report
Source: Maybank Research - 4 July 2012
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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....
alexmichael
Wah Seong in my opinion is an under performing OG counter. Perhaps, no syndicate goreng or speculate this counter.
2012-08-21 07:32