25 February 2014| last updated at 11:27AM

Iris bags RM793.21m job from Guinea

GUINEA CONAKRY REPUBLIC: Iris Corp Bhd, the inventor of the world's first ePassport and multi-application smart card, has inked a RM793.21 million contract with the Republic of Guinea government in West Africa.


Under the 15 year agreement, IRIS will supply and implement secure chip technology solutions in the Republic of Guinea which will include electronic
passports, visa, permanent residence identification card and all its related software and hardware.


IRIS Trusted Identification Division Chief Executive Officer Datuk Hamdan Mohd Hassan said that President Alpha Condé is currently embarking on
various policies to reform and revive Guinea's economic growth.


"IRIS is the preferred trusted identity solutions provider in 26 countries across various continents and with the thorough experience in ePassports, it
took us three months to set up the Republic of Guinea Conakry ", Hamdan told reporters at the ePassport launching ceremony on Monday by Guinea Prime

Minister Mohamed Said Fofana.

The Prime Minister said the ePassport, which is International Civil Aviation Organisation compliant, has numerous security features that prevented
fraud and its implementation was a positive step in further improving the lives of their citizens.


Meanwhile, Security and Civil Protection Minister Elhadj Madifing Diane said IRIS Corp Bhd has delivered a milestone task and he hoped the company could further share their expertise in other sectors for the benefit of the country.


"IRIS is in the running to tender for the country’s identification card and with the seriousness that has been displayed over the implementation of the
ePassports, the company is in the right path and appears to have an advantage over other competitors," said the minister.


IRIS has more than 19 years experience in developing ePassports and multi-application electronic identification cards and was the pioneer in the
world’s first ePassport for the Malaysian government.


It is a global solutions provider with core expertise in trusted identity, secure payments, financial services, transportation, waste management, renewable
energy, building solutions, food security, agriculture and sustainable development. -- BERNAMA


Read more: Iris bags RM793.21m job from Guinea - Latest - New Straits Times

http://www.nst.com.my/business/latest/iris-bags-rm793-21m-job-from-guinea-1.492666#ixzz2uImSFnyH

Insas on the move after strong earnings

by joseph chin


KUALA LUMPUR: Shares of Insas rose to a high of 93 sen in active trade on Monday after it earnings rose 34.5% to RM40.92mil in the second quarter ended Dec 31, 2013.

At 10.15am, Insas was up 1.5 sen to 92 sen. There were 3.15 million shares done at prices ranging from 91 sen to 93 sen.

The FBM KLCI fell 1.09 points to 1,829.65. Turnover was 313 gainers, 260 losers and 284 counters unchanged. There were 313 gainers, 260 losers and 284 counters unchanged.

Last Friday, Insas reported its earnings rose 34.5% to RM40.92mil in Q2 ended Dec 31, 2013 from RM30.42mil a year ago. Revenue jumped 69% to RM80.67mil from RM47.69mil. EPS was 6.2 sen from 4.53 sen.

Notably its net asset per share was RM1.71 sen, which was 54.3% above its current market price of 93 sen.

In the first half, its earnings rose 65.2% to RM100.32mil from RM60.72mil a year ago. Its revenue rose to RM153.16mil from RM111.33mil.

http://www.thestar.com.my/Business/Business-News/2014/02/24/Insas-on-the-move-after-strong-earnings/

I think it will continue to fly to the new higher price.
high percentage can be at RM4.65

Oil and Gas - 2014 Outlook

Increasing fabrication job orders… We estimated more than RM10bn worth of potential contract to be awarded. Smaller players like THHeavy (Non-Rated), BHIC (Buy, TP:3.39) and KKB Engineering (Non-Rated) are likely to share a portion of the cake.

I also got same feeling like Dannyk.
Feel that Dsonic will rebound at RM3.45-RM3.50.

I predict Daya can hit near to RM0.500 end of Feb. 2014 this Friday.

It close to RM0.48 this week !!!
Nak beli, cepat sedikit.

Is going to rebound i think.
Similar like KNM or Iris.

DSONIC will up suddenly today.

kytan, is it latest TP fro DAYA ?

yes, agree with steven8888.

Dun buy Trop. thx My opinion only.

TODAY FROM RHB INVESTMENT.

Daya Materials may move higher after the firm move this morning. Purchase can be made if it stays above MYR0.43, with a close below MYR0.42 as stop loss. Price target is MYR0.50, if the MYR0.465 resistance is broken. Failure to stay above MYR0.43 could see the stock trade sideways and further support is at MYR0.40.

Accumulative Profit after tax on 31.12.2012 are RM60,543,000.
Accumulative Profit after tax on 31.12.2013 are RM100,801,000

It is increased 66.49% fr RM60,543,000

It mean that in 31.12.2013 earning Profit After Tax is 166.49%

So much the percentage increasing !
INSAS more solid growth than other campany too !

I predict Dsonic may reach near at RM3.60 - RM3.75 ( even exceed than figure )
end of this Feb. 2014.
Good news is going to announce soon !

I predict Kossan mayb reach near at RM4.70 end of Feb. 2014.

Nest week i think is going/ continue to fly.

Maybe even exceed more than RM1.20.
Those who bought at RM1.00 + -, is saved to keep & wait
to see how Thheavy price fly to higher lever.

Many ppls goreng Barakah.
Alam , juz not a timing like Barakah been goreng & goreng.

http://www.theedgemalaysia.com/business-news/276799-klci-week-ahead-klci-to-resume-upward-path-.html

Is related also to THHEAVY.

发1.7亿回债融资

最近它发行1亿7000万令吉回教债券，便是用来融资建造这船只。

根据报道，Lundin石油位于登嘉楼岸外的Bertam油田、JX Nippon石油及天然气勘探公司位于美里的Layang油田、Vestigo石油公司、Hess石油，都需要用FPSO船只。

因此，TH重工希望可以获得这些公司的合约，平均每份合约的总值介于4亿至5亿美元。

PSO业务加强盈利

除了扩展EPCIC业务之外，TH重工也积极参与FPSO市场。

TH重工拥有的FPSO船为DP1，它可以处理最高40万桶的液体，目前这船只已完成85%。

TH重工已经积极竞标工程，一旦获得合约，余下15%的部份预料马上可以完成，这主要是因为这船只的最后部份是要根据油田和客户要求进行调整。

McDermott船坞的产能为每年6万公吨，它完成的工程总吨数达到2万500公吨。

通过与McDermott建立的新关系，TH重工得以：

1.融次船坞扩展计划和新船坞计划。

2.联手竞标更大型的EPCIC工程。

3.通过McDermott获得技术转移。

4.通过DB30参与组装和铺设输送管市场，及成为全方位的EPCIC业者。

手上合约3亿致力扩大订单

TH重工手上的合约总值3亿令吉。根据安联研究，TH重工现在已积极竞标本地和海外合约。

它目前所竞标的主要合约包括：
（1）SK316———据悉会在今年底发出，SK316是位于砂拉越岸外气体发展计划，这计划预料将建立中央处理平台和卫星平台，这需要用到EPCIC，合约总值预料介于15至20亿令吉。

（2）West Sepat———快速铁轨发展工程，总值15亿美元。

West Sepat工程最近开放竞标及征求工程及设计负责公司。

（3）泛马来西亚安装工程———由于DB30不久后将能够处理深海工程（因为它正装置动力定位系），因此正展开第二阶段的船坞扩充计划。

为了可以与其他业者，例如沙肯石油（SKPETRO）以及海事重工（MHB），平起平坐，TH重工坦承它需要更大的船坞，以便攫取更多的组装工程，因此，该集团在英达岛进行这项任务。

该集团希望在未来12个月，增加200英亩的地段，以扩大产能至8万公吨。

该集团估计它要用到的资本开销高达1亿500万美元（可能会进行筹资活动），以三个阶段在2至3年内完成新船坞的扩充计划。

TH重工希望可在明年完成土地收购计划，这意味着新船坞将会在2015财年底才会拥有新船坞。

由于这船坞已经无法应付现有的工程，所以该集团当前的计划是倍增船坞的产能至2万公吨，以及将执行能力由2500公吨提各于1万2000公吨，使公司可承接更多具有规模重量超过1万公吨工程。

在价值方面，2万公吨的组装产能，使它可以承接的工程合约达到12亿令吉。

TH重工于今年一月进行10%私下配售筹集4200万令吉，也发行7000万令吉回教债券，融资现有船坞提升计划。

与McDermott合作展望更佳

除了积极迈向成为具有竞争力的综合工程设计、采购、施工、安装及调试（EPCIC）业者以及能够承接深海工程的第一级承包商之外，TH重工在今年底也与McDermott国际公司建立伙伴关系。

根据合作协议，McDermott将以2450万美元，收购TH重工制造私人有限公司30%股权，在大马进行制造工程。

TH重工也将以相同价码，收购McDermott Berlian Mcdermott的30%股权。

这项交易对TH重工有利，因为McDermott是非常著名的组装业者，在印尼的峇淡拥有272英亩的船坞。

Juz wanna to refresh to all .

股海宝藏：TH重工转型全方位油气业者

股海宝藏
财经周刊
投资观点

2013-11-04 14:34

TH重工（THHEAVY，7206，主板贸服股）获得国家石油（Petronas）油气起重机制造执照的七家业者之一，该公司通过英达岛的船坞，组装岸外架构和平台，也能够组装工程设备配套。

此外，公司也拥有浮动、生产、储存和卸货船（FPSO），名为DP1和拥有起重机和铺设油管驳船DB30的30%股权。

TH重工是回教朝圣基金局的联号公司，后者持有30%股权。第二大股东丹斯里郭令灿和他的儿子郭公昇，则持有9%。

第一阶段英达岛船坞扩展计划进行中。

TH重工位于英在岛的船坞，已经不足于应付需求，该船坞占有57英亩，每年产能为1万公吨。

与McDermott国际公司合作

TH重工于2012年杪与McDermott国际公司签署谅解备忘录，包括设立联营公司参与亚太区岸外油气工业市场，后者也收购TH重工子公司的30%股权。

双方将进行一系列联营计划，共同进军大马能源领域和提升设计、采购、安装和建造（EPIC）专业服务领域，满足国内油气领域发展需求。

联营公司的计划，包括提升TH重工在英达岛的制造厂，增加该厂产能，以承接更多工程。

同时，改善工厂安全性和效率，为客户供应高素质产品。

McDermott国际拥有专业知识和经验，TH重工则对大马市场熟悉，2者联营可以承担更大型EPIC工程，以及岸外安装工程。

此外，TH重工-McDermott国际公司联营公司，也将拥有McDermott Derrick驳船。

McDermott国际公司在这方面经验丰富，又想拓展大马市场，两者合并完全符合常理。

铺管船(Derrick Pipe Lay Barge)DB30号的30%拥有权

McDermott以2450万美元，收购TH重工制造私人有限公司30%股权，在大马进行制造工程。

TH重工也将以相同价码，收购McDermott Berlian Mcdermott的30%股权。

这项交易对TH重工有利，因为McDermott是非常著名的组装业者，在印尼的峇淡拥有272英亩的船坞。

McDermott船坞的产能为每年6万公吨，它完成的工程总吨数达到2万500公吨。

通过与McDermott建立的新关系，THHEAVY得以：

1.融次船坞扩展计划和新船坞计划。

2.联手竞标更大型的EPCIC工程。

3.通过McDermott获得技术转移。

4.通过DB30参与组装和铺设输送管市场，及成为全方位的EPCIC业者。

Alam, tunggu masa utk lompat harga ke tahap yang lebih tinggi.

INSAS 迟早会超过rm1.00 above.

I copy & paste fr RHB, sorry lo I adit "we" to "RHB" next time.

Good posted, dhuwit

Got good news for Thheavy.
Thheavy 入围

（有消息指国油勘探（Petronas Carigali）公开招标总值约15亿令吉的Baronia中央处理平台（CPP）承包合约，国内多家油气业者———海事重工（MHB，5186，主板贸服股）、沙肯石油（SKPETRO，5218，主板贸服股）和THHEAVY成功入围候选名单。

国际石油与天然气网站UpstreamOnline报道指出，该合约内容包括建造Baronia中央处理平台的导管架、平台上部结构和2座卫星平台。

安装工作料会在2017年进行，而这个工作估计已包含在最近颁发给泛马（PanMalaysia）的合约内）

Chinese peoples sometime like to said : 无风不起浪 ( there are no waves without wind )




TH重工已经积极竞标工程，一旦获得合约，余下15%的部份预料马上可以完成，这主要是因为这船只的最后部份是要根据油田和客户要求进行调整。

消息透露，TH重工将攫取总值15亿令吉的浮式生产储油船租赁合约。

财经周刊《TheEdge》引述熟悉此事项的消息表示，此合约将由TH重工的Deep Producer 1浮式生产储油船来执行，预期将部署在砂拉越岸外的Layang油气田。

据了解，此份由日本石油（Nippon Oil）颁发的合约，目前仍处于协商阶段，合约期为7年，附有延长3年的选择权。

这合约估计应该会在本月底签署。基本上，TH重工是唯一的竞标者，因为只有TH重工符合日本石油的要求，所以夺标只是迟早的事。

BELOW ARE Industry consolidation related DAYA (fr RHB also)


We also view Daya Materials (DAYA MK,

BUY, TP: MYR0.42), an emerging offshore & onshore O&G player, as a potential

takeover target. The group, which is riding high on its partnership with Siem Offshore

(SIOFF NO, NR) is still growing its geographical footprint since becoming Malaysia’s

first subsea services provider in the North Sea.

Valuations
Still one of our O&G Top Picks in the small-cap segment.

Daya is still one of our favourite picks in the small-cap O&G space, as we believe its growth

potential remains tremendous. The estimated 86.4%/17.7% growth in FY14/FY15 earnings is

largely due to the more significant contributions stemming from its subsea O&G division.

We are also looking forward to a better performance from the group’s TS business in FY14

after consecutive letdowns in 2Q13 and 3Q13. However, we cautiously expect an improved PBT margin of 6% for this division in FY14.

Possible upside in earnings going forward.

Considering that management is still exploring different ways to minimise taxation costs,

we conservatively assume an effective tax rate of 24% across the board in FY14 and FY15.

Maintain BUY with new FV of MYR0.48 (from MYR0.42).

We maintain our BUY call on the stock with a new FV of MYR0.48 on an unchanged 15x target FY14 P/E.

This is largely on par with other small- to mid-cap O&G companies within our coverage universe

Daya CMT SB offers design, engineering, construction, project management and maintenance services for commercial and industrial buildings under the TS division.

Daya Clarimax SB, on the other hand, provides:
i) ISO tank cleaning, repair and maintenance (R&M) services;
ii) waste solvents recycling; and
iii) the manufacturing of high purity electronics and technical solvents

Daya’s careful selection.
The group’s second-largest contributor, the TS division,

did not fare well in 3Q13 as it was dogged mainly by lower project profitability
margins.
This business historically records PBT margins between 4-11% but this
deteriorated sharply to approximately 3% in both 2Q13 and 3Q13.

Management said
TS did show improvement in 4Q13 and reaffirms its stance to be more selective on
future projects that it undertakes.

Although we are comforted by Daya’s commitment, we still cautiously assume a
conservative 6% PBT margin to this division throughout FY14-15.

The group’s
orderbook currently stands at approximately MYR1bn and we expect these existing
projects to continue until FY16.

( Latest : DAYA's current order books stand at RM2.1 bil )

Refining its craft.

Daya’s 3Q13 results came out weaker than expected.

This was
largely due to higher operational costs and effective tax rate on tax-related nondeductible
expenses.

Going forward, we believe these costs will be more
manageable as management becomes more familiar with the O&G industry.

We
understand that Daya has also been exploring different avenues to effectively
minimise taxation costs.

Pending management’s guidance, we conservatively
assume a corporate tax rate of 24% in FY14/15 across the group.

A possible third vessel by 4Q14.

We understood that Daya is negotiating for
another vessel chartering contract with Technip Norge, which will involve a similar
type of vessel to SD1 and SD2.

If successful, this third OSCV will again be chartered
from Siem Offshore and is the latter’s last vessel built to this specification.

We believe
the contract arrangement for the third OSCV could be somewhat similar to SD2’s and
may ultimately lead to Daya acquiring a 51% stake.

Although nothing has been
confirmed at this current juncture, management said that any further acquisition could
be funded via a combination of rights issuance and bonds.

51% acquisition stake in SD2 still on track.

The planned acquisition of a 51%
stake in SD2 is targeted for completion by 1H14.
According to management, owning
a 51% stake in a vessel helps to reduce related costs by approximately 25%. Hence,
our calculations suggest that the stake acquisition may bump up FY14 and FY15
earnings estimates by 2-4% and 4-8% respectively.

The initial outright acquisition cost for the SD2 was said to be USD120m but,
with
upgrades done by Siem Offshore to increase the OSCV’s power supply capacity, it
may now cost USD132m.

The 51% stake acquisition will be financed via 25% equity
and 75% debt, and we understand that part of the proceeds from Daya’s recent 10%
placement may be utilised to partly fund the acquisition costs.

A combination of spot and long-term charters is, indeed,

more lucrative. It also gives Daya the opportunity to build its track record and
expertise by working with different parties that may have varied job requirements – a
proposition that management prefers.

Yet, we cannot ignore the fact that a longer
locked-in period of 300 days vs 230 days with Technip Norge provides greater
earnings visibility.

It eases the risk that the OSCVs may lie idle longer than expected
in port, which, in turn, can result in operating costs with no matching chartering
revenue.

Assumptions imputed into our earnings forecasts.

We are assuming that each
vessel will be deployed to the North Sea for 230 days and will have an estimated 30
days for spot charters every year. Daya said the OSCVs can fetch a DCR of
USD119,000/day/vessel if contracted on a spot basis. This arrangement implies an
average DCR of USD105,100/day/vessel. Included in our numbers are: i) a total
mobilisation period of 40 days to the two locations, and ii) 65 days of downtime as
guided by management.

What if Technip Norge requires the vessels for 300 days?

According to
management, Technip Norge was negotiating for a longer charter of 300 days. The
weighted average DCR will then be lower, at USD103,300/day/vessel if the OSCVs
are deployed to the North Sea under such an arrangement. This also means that the
SD1 and SD2 will not be able to undertake any spot charter contracts, as we believe
the remaining 65 days/year window is too short for such opportunities

Emphasising on project execution

Time for execution.

Both SD1 and SD2 OSCVs will officially begin their North Sea
works – under respective long-term contracts with Technip Norge – by end-February.
Each vessel will be deployed for a 220-250 days/contracted year period, following
SD1’s testimonial 1-month stint with the leading subsea engineering contractor on the
Norwegian continental shelf in Nov 2013.

Briefly on contract terms.

SD1 is on a 5-year charter contract with a 2-year
extension option, while its sister vessel is on a 3-year contract with a 4-year
extension option. Both OSCVs were originally slated for a 100-175 days/year
deployment to the North Sea. However, the terms were changed following Daya’s
successful deployment of SD1 in Nov 2013.

We understand from management that both OSCVs will fetch daily charter rates
(DCR) of USD103,300 with an agreed escalation rate of 3% every year.
Both vessels are chartered from Siem Offshore. Both SD1 and SD2 are currently
being chartered from Siem Offshore for seven years.

This matches Daya’s
commitment to Technip Norge. Both contracts entail a bareboat charter rate of
USD65,300 each plus a similar escalation rate of 3% annually. SD1 and SD2 are
also equipped with two remotely operated vehicles (ROVs) each. A single ROV has a
charter rate of approximately USD10,000/day.

Maintain BUY, higher MYR0.48 FV. Daya remains one of our favourite
small-cap O&G picks, premised on its FY14/15F earnings growth of
86%/18%, driven by significant contributions from its O&G division. We
revise our FY14/15 forecasts by 13%/29% to reflect better profitability in
its TS business. Maintain BUY, with a new MYR0.48 FV (from
MYR0.42), pegged to an unchanged 15x target FY14 P/E, which is on
par with other small- to mid-cap O&G companies within our coverage
universe.

Management’s careful selection. Daya’s technical services (TS)
division did not fare well in 3Q13 due to lower project profitability
margins. Management said TS showed improvement in 4Q13 and
reaffirmed its more selective stance on future projects

A third vessel by 4Q14 possible. Daya is negotiating for another
vessel chartering contract with Technip Norge involving a similar vessel
as SD1 and SD2. We believe the third vessel’s contract arrangement
with Siem Offshore (SIOFF NO, NR) could be similar to SD2’s and
ultimately lead to Daya acquiring a 51% stake.

51% stake acquisition of SD2 still on track. Daya’s planned
acquisition of a 51% stake in SD2, which will cut related costs by around
25%, is targeted to be completed by 1H14. Our calculations suggest that
the acquisition will bump up FY14/15 earnings estimates by 2-4%/4-8%.

Time for execution. Daya’s two offshore support construction vessels
(OSCVs) – Siem Daya 1 (SD1) and Siem Daya 2 (SD2) – will officially
begin their North Sea works with Technip Norge AS (Technip Norge) by
end-February. Each vessel will be deployed for a period of 220-250
days/contracted year. We project 230 days for North Sea deployment
and 30 days for spot charters for each vessel.

Morning !

Premised on its estimated FY14/15 earnings growth of 86%/18%, Daya
Materials (Daya) remains one of our favourite small-cap oil & gas (O&G)
picks, especially given its growing O&G division. We raise our FY14/15
forecasts by 13%/29% to reflect better profitability for its technical
services (TS) business. Maintain BUY, with a new MYR0.48 FV (from
MYR0.42), pegged to an unchanged 15x target FY14 P/E.

YUP, many instituti giv good buy in Alam, Daya, SKP, & Armada too.
But I much prefer invested in Alam & Daya.


(Daya) remains one of our favourite small-cap oil & gas (O&G)
picks, especially given its growing O&G division. We raise our FY14/15
forecasts by 13%/29% to reflect better profitability for its technical
services (TS) business. Maintain BUY, with a new MYR0.48 FV (from
MYR0.42), pegged to an unchanged 15x target FY14 P/E.

Hey, guys,
rem i mention may buy in at RM4.00 few weeks ago?

hey, guys.
Come & invest in DSONIC !