2013年3月，取得一家本地油气业公司所颁发的水底检查及维修工程合约。

有关合约的期限分别为期21天和150天，总价值高达2490万令吉。

一般预测两项工程将会在2013年的下半年完成，并取得120万令吉至250万令吉的净利。

分析员相信这两项合约可能出现变动，最后价值可能提高至5000万令吉。

同时也预计将会有更多类似的合约出台，但市场对世界海事依然有所保留，因为世界海事极少赢得类似合约。

在把2000万令吉的合约计算在内后，马银行投资银行维持其对世界海事的评级。

2013年的财测是，每股净利8.7仙，而本益比则是9.4倍。

2013年2月，世界海事独资子公司———世界海事（马）私人有限公司获国油勘探【Petronas Carigali】颁发总值3015万令吉的两艘岸外支援船【OSV】租约。

该合约期长7个月，期满后可选择延长3个月。

上述两艘岸外支援船为1万和5000每制动马力【简称bhp】的三用工作船【AHTS】。

根据合约总值计算，上述5000bhp和1万bhp岸外支援船的每日租船费率【DCR】，分别为每bhp1.90美元至2美元【约5.70令吉至6令吉】和每bhp2.10美元至2.20美元【约6.30令吉至6.60令吉】。

鉴于这是第三者租约，估计世界海事赚幅只有10%至15%，这份合约可为集团带来300万至400万的净利。

尽管赚幅不高，但显示世界海事争取合约的实力。

分析员都认为集团有能力在2013年获得1500万令吉的第三者租约。

肯纳格投资研究预估2013年的每股净利是9.1仙，而本益比则是8.8倍。

分析员相信，此RSC需要进行更深入的研究，此合约或许只在长期内才会捎来具体的消息。

以上种种迹象显示，油气领域在未来3至4年内似乎会持续活跃，因国油承诺扩大本地的油气生产。

拥有38艘岸外支援船的世界海事【ALAM，5115，主板贸服股】也因此而受到投资研究的青睐。

世界海事总共拥有38艘船只，其中以三用工作船及平台支援船为主，分别有16及12艘。

2013年全年累积下来，世界海事共获得了16项总共12亿7800万令吉的船只租约，而旗下船队的使用率也从原本70%，按季增加至目前的80%。

资料显示，世界海事目前手上的订单总值130亿令吉，已超越在2008年录得的110亿令吉历史新高。

岸外支援船市场预料每年总值为30至40亿令吉。

随着世界海事不断传出获得合约好消息，这也显示了岸外支援船领域有所增长，世界海事拥有大概10至15%的市占率。

2013年10月：

世界海事独资子公司———世界海事（大马）私人有限公司获颁一项价值接近3790万令吉的合约，为一家著名油气公司提供一艘直供应船【Straight Supply Vessels】。

上述租客是长期顾客，不过，之前合约的租金是每天每马力1.90美元【约5.89令吉】，而新合约租金则是每天每马力1.65美元【约5.11令吉】。

虽然租金较低，但上述出租船只的分期贷款已经缴清，所以公司不需要支付利息。

2013年10月：

世界海事获颁总值2200万令吉的三用工作船【Anchor Handling Tug Supply，AHTS】合约。

合约期限长达6个月，顾客可以选择另外延长两个月。

该三用工作船会是其中一艘刚送抵的1万2000每天每马力【bhp】拖船。

以下是一些世界海事岸外支援船部门于2013年取得的大型合约与订单：

2013年6月：

世界海事子公司为旗下 5000bhp 三用工作船【AHTS】取得一项 5+2 年的合约，总值 7150 万令吉，并于2013年下半年投入运作。

这项合约是世界海事2013年来第 11 项合约，2013年年初累积所赢取合约总值高达11 亿 3300 万令吉，超越去年累计合约总值，为5 亿 2870 万令吉。

2013年9月：

世界海事接获知名油气公司颁发总值 3700 万令吉的两项合约，提供一艘三用工作船【AHTS】和一艘直供应船【Straight Supply Vessels】。

三用工作船的合约为期12个月及可延 6个月；直供应船的合约则为期12个月及可延 12 个月。

上述合约的每日租金【Daily Charter Rate，DCR】，每 bhp 应为 1.80 美元（约 5.4 令吉）至 1.9 美元（约5.7 令吉），属合理价位。

上述合约是世界海事2013年公布的第12 份合约，合约总值也因而增加至 11 亿 7000 万令吉，超越了 2012 年全年录得 5 亿 2870 万令吉。

岸外装置与建筑与海底业务属于后起之秀，而正真的摇钱树是岸外支援船业务，主要还是靠着这棵摇钱树创造收入来源。

经过内部重整后，世界海事【ALAM，5115，主板贸服股】目前的业务：

1. 岸外支援船 【OSV】
2. 岸外装置与建筑【Offshore Installation & Construction，OIC】
3. 海底业务【Subsea Services】
4. 综合物流【Integrated Logistics】
5. 船只维修与保养

Technip and MMHE were jointly awarded a turnkey contract late last year covering engineering, construction and installation of the central processing platform (CPP), the connecting bridge and up to two wellhead platforms for the combined NC3 and NC8 field development in Block SK 316.

- NC3 will host the CPP, which will be connected to a satellite platform at NC8. First gas from Block SK 316 is scheduled to flow by the end of 2015 and will be fed to the ninth liquefied natural gas train under Petronas MLNG complex in Bintulu.

- Block SK 316 also hosts the Kasawari field, which will be developed using a standalone central processing platform and a wellhead structure. Petronas was due to tender the planned Kasawari facilities in early 2014 but the bid round is said to have been held back as the stateowned field operator re-evaluates its tender strategy.

- As the Alam-Swiber failed to secure a package under the Pan-Malaysia transport and installation (T&I) umbrella concession late last year, the JV is actively seeking new projects in the region. Our channel checks indicate that the level of activities under the Pan-Malaysian T&I contracts this year could be lower than 2013 due to the initial design and engineering works in the programme.

- For the underwater division, we understand that Alam hopes to secure parts of the RM1.2bil-RM1.5bil contracts, which were earlier extended to Offshoreworks Group, currently in financial distress.

- We expect 4QFY13 results, scheduled to be released later this month, to come in below expectations due to one-off provisions. For now, we maintain FY13F-15F core earnings. Valuations are compelling at an FY14F PE of 9x– half of the oil & PP 12247/06/2013 (032380) gas sector’s 18x.

We maintain BUY on Alam Maritim Resources (Alam) with an unchanged fair value of RM2.45/share, pegged to a FY14F PE of 16x – at parity to the oil & gas sector.

- Upstream reported today that a joint-venture between Alam and Swiber Offshore has won a subcontract for offshore installation work on Petronas’ Block SK 316 gas development off Sarawak. We understand that the installation contract - The Alam-Swiber joint venture is understood to have been subcontracted by Technip and Malaysia Marine Heavy Engineering (MMHE) to install the central processing platform and the bridge from mid-2015 to the third quarter of 2015.

Rebound now, Alam.

last time Tas was good, but now ...dah tak bolehlah.

WATCH FIRST, QE COME ANYTIME.
BUY WHEN THE PRICE IS DROP.
DUN CHASE WHEN THE PRICE IS KEEP REBOUND.

6 Feb 2014 22:00
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　（吉隆坡6日訊）SILK控股（SILKHLD，5078，主要板建築）子公司Jasa Merin私人有限公司簽訂備忘錄，以792萬5000美元（約2536萬令吉）脫售旗下船舶。

　SILK控股向馬證交所報備，子公司在脫售旗下船舶所得資金，將用于償還船舶貸款額670萬令吉，以平衡公司資本營運開銷。

　根據該報備文件指出，這項協議預計會今年3月底完成。

　該公司指出，公司主要股東和董事並沒有在這項協議上，獲得任何直接或間接的個人利益。

　另外，該公司也向馬證交所指出，子公司Jasa Merin昨日與艾芬銀行簽署貸款協議，獲得額外貸款5500萬令吉，以作為收購用途。

NO DUN BUY FIRST,
MY REMISIER TOLD ME FEW DAY AGO.

REBOUND AGAIN TOO, BUT NOT SO MUCH.
AS LONG AS IT REBOUND.

Kossan for long run investment campany.
TP: RM5.00 above sure no problem to reach.

RHB, MAYBANK, KENANGAN & AMMB

NOTICED : BUY CALL !
FOR ALAM

WITH HIGHER TP Compare RM1.53 ( 6.2.2014 ).

Tomorrow up again & hope to close at RM1.60 above.

dun buy zhulian first bcos Thailand crisis still bad.

SIKLHLD, u rebound again
but this time not rebound last minutes.
Gov will pay pampasan to tols campany.
It is also a income for SIKLHLD too.

5 Feb 2014 22:36
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　（吉隆坡5日訊）聯昌投資銀行和馬銀行投資銀行獲得大馬評級機構（MARC）2013年主理商排行榜中的冠亞軍。

　根據大馬評級機構發出的文告指出，聯昌投資銀行2013年共發行總值149億令吉債券居冠，該公司已連續2年榮登榜首位置。

　馬銀行投資銀行則以總值104億令吉，排在第2位，大馬投資銀行則位居季軍位置，總值達22億。

　在這個排行榜當中，若根據發行數量，馬銀行投銀以發行7項奪冠，緊接下來的則是聯昌投銀、興業投銀，分別以5項和3項擠進三甲位子。

　去年，大馬評級機構紀評估了17項新債券發行，規模達310億令吉，相較2012年發行的375億令吉。

　“伊斯蘭債券依然佔所發行債券的大部分，分別佔總債券發行金額的60.4%，以及總發行量的58.8%。”

　該機構預計，今年伊債發行量將維持在450億令吉至550億令吉。

ALAM:
OSV IS brighter in 2014.
So Alam this stock will up.

BELOW IS AMMB RESEARCCH POINTS: TP:RM2.45

We maintain BUY on Alam Maritim Resources (Alam) with an unchanged fair value of RM2.45/share, pegged to a FY14F PE of 16x – at parity to the oil & gas sector.

- ExxonMobil Exploration and Production Malaysia Inc has exercised its option to extend Alam’s charter by a year to provide an accommodation barge for RM59mil, at a higher charter rate compared to the original rate back in May 2012.

- The original charter was for 18 months plus a 12-month optional extension at an estimated value of RM126mil or RM137k per day. Hence, the extension value, effective on 1 February 2014, translates to RM161k or a17% increase over an 18-month period.

- The rising price trend for accommodation work barges highlights the strong demand for this type of vessels in Malaysia and the region. Alam currently has 3 accommodation workboats and sources third-party vessels for its clients.

- We note that marine operators such as Perdana Petroleum, Dayang Enterprise and Bumi Armada have plans to continue purchasing or acquiring accommodation work barges or multiple-purpose support vessels.

- For anchor handling tug supply vessels (AHTS), domestic demand remains firm given the limited number of locallyflagged vessels compared to foreign-owned units operating in Malaysia. We understand that Petronas’ preference policy for domestic players remains intact.

- Hence, we continue to be positive on charter rates for the AHTS market segment, underpinned by a need for additional 16 vessels this year in Malaysia. Among the vessels under JVs, there is now only one 12,000bhp anchor handling tug supply vessels under JV with Tabung Haji that is on spot charter. Currently, we understand that the group’s vessel utilisation rate for its wholly-owned fleet is around 80% with the rest of the vessels on spot charters.

- We maintain FY13F-15F earnings with assumed higher vessel utilisation rates of 80%-90% as well as underwater/offshore installation & construction orders of RM300mil-RM500mil.

- We understand that Alam hopes to secure parts of the RM1.2bil-RM1.5bil contracts for underwater services, which were earlier extended to Offshoreworks Group, currently in financial distress.

- Valuations are compelling at an FY14F PE of 9x – half of the oil & gas sector’s 18x.

CMSB's contract r expected to reduce once Tan Sri Abdul Taib Mahmud step down his post.
Also some related stocks like DAYANG & NAIM.

Correct, Alam is on the road to the North.
Research houses did not expect Alam will secured recent Contract.
It is so suprising to us.

Alam also will continue to bid ( IRM & EOR ) contracts value at RM1,100,000.000 to RM RM2,000,000.000.

Thanks to Alam investors holders.

Jasa Merin gets contract extensions www.btimes.com.my 25-Jan-2014 3:00 AM

KUALA LUMPUR: Silk Holdings Bhd's unit Jasa Merin (M) Sdn Bhd has received contract extensions for the provision of two 60-tonne Anchor Handling Tug Supply Vessels worth some RM23.29 million, the company told Bursa Malaysia yesterday. ...
Silk Holdings secures RM23.28mil contract extension from ExxonMobil www.thestar.com.my 24-Jan-2014 6:00 PM

KUALA LUMPUR: Silk Holdings Bhd has accepted the award for a RM23.28mil contract extension by ExxonMobil Exploration and Production Malaysia Inc via its unit Jasa Merin (Malaysia) Sdn Bhd.
KL shares open lower in early session www.btimes.com.my 24-Jan-2014 11:00 AM

Share prices on Bursa Malaysia opened lower on lack of buying interest, with losses seen in selected heavyweights. As at 9.20am, the FTSE Bursa Malaysia KLCI (FBM KLCI) was 7.80 points down at 1,800.51 after opening 6.02 points ...
KLCI opens higher but drift lower therafter www.btimes.com.my 23-Jan-2014 10:00 AM

Shares on Bursa Malaysia opened higher but drifted slightly lower thereafter, on continued selling activities led byselected heavyweights. At 9.20am, the FTSE Bursa Malaysia KLCI (FBM KLCI) was 4.82 points lower at 1,809.28 after openin...
SILKHLD- poised for breakout? nexttrade.blogspot.com 22-Jan-2014 5:00 PM

There was a report that SILKHLD has been invited by Petronas to tender for the supply of medium & large offshore supply vessels (OSVs). The business, if materialized, will be undertaken by Jasa Me...

Kenanga keeps 'outperform' on Alam Maritim
Published: 2014/02/05
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Kenanga Research has maintained 'outperform' rating on Alam Maritim Resources Bhd, with RM2.07 target price, following the announcement of its contract extension.

The company announced yesterday that it has been awarded a 12-month extension contract by ExxonMobil Exploration and Production Malaysia Inc to provide an accommodation barge worth RM58.8 million.

"The contract value implies a daily charter rate (DCR) of RM160,200. This is 14.8 per cent higher than the DCR for the initial contract of RM139,500.

"We are positive on the firmer charter rate and the contract extension, but it was largely expected as the demand for accommodation barges remains strong," it said in a research note today.

The research firm expects RM140,000 for the company's accommodation barge.

Alam Maritim's stock gained 4.0 sen to RM1.45 as at 12:30 pm after opening at RM1.43, with 1.5 million shares transacted.-- Bernama

Read more: Kenanga keeps 'outperform' on Alam Maritim http://www.btimes.com.my/Current_News/BTIMES/articles/20140205140354/Article/index_html#ixzz2sSVv3XOw

Coming list in Bursa : ICON OFFSHORE PETROLEUM

recommention: Silkhld & Alam.

Good link for CIMB.

While the 18.8% rise in the power tariff from 1 Jan onwards dealt a blow

to power-hungry manufacturers like LMC, the 19.4% drop in its

share price in just over a month looks overdone. The market may

have overlooked the recent cut in cement rebates, which could be

sufficient to cover the higher costs, while a revision in its list price

may also be just around the corner. We upgrade LMC to BUY, with a MYR9.61 FV.

Power tariff revision shock. The 18.8% hike in electricity tariffs

from 1 Jan this year was a jolt for power-hungry manufacturers

in Peninsular Malaysia. As electricity makes up 17% of LMC’s

production cost, its share price has declined 19.4%/29.2% from Dec

2013 when the power rates increase was announced and its June 2013 high respectively.



Has cement price gone up? We made some surprising discoveries when we visited hardware shops during Thaipusam on Friday. Cement

manufacturers may have acted faster than expected by cutting back on

rebates offered to suppliers, which ranged from MYR0.50-1.00 per 50kg

bag, after the new power tariffs were announced in Dec 2013. While we

are unable to verify the ex-gate price of cement supplied by LMC, this

could be within the MYR15/tonne increase we incorporated into our
model and may more than cover the hike in power cost. We

suspect CMS Cement SB’s move to raise its selling prices by 5-9% from 17

Feb onwards could also be a prelude to rising list prices in Peninsula Malaysia.

Cement market still benign. We are also relieved to learn

from our sources that YTL Cement is expected to commission its

brownfield capacity only in late-2014. The extra volume may be

less disruptive compared with newcomer Hume Cement’s offer of big

discounts in order to boost its distribution network. The cement

demand boost from government projects may be timely in absorbing additional supply.

Upgrade to BUY. After the selldown, LMC’s valuation has become more

appealing. Despite being more expensive than most of its regional peers,

its premium has narrowed and its dividend yield more attractive.

That said, the share is now trading near its 5-year historical

P/E and P/BV mean. This, together with a decent dividend yield

of 5.2/5.5/5.6% for FY13/14/15 respectively, prompts us to upgrade

LMC to BUY (from Neutral), with our unchanged MYR9.61 FV based on

a 20x FY14 P/E (+0.5 STD/38% premium respectively to its regional peers).

3. believe that there
will be a positive trickle-down effect to other OSV owners like AMRB. We
understand that some of the packages may require additional vessels
that the winner of the package may not readily own.

4.Maintain BUY and MYR2.25 FV. We make no changes to our FY14/15
earnings estimates as the contract extension has been accounted for.
We expect AMRB to post a good set of full-year FY13 results as we
believe its fleet utilisation rate remained high at around 90% in 2HFY13.

5. We therefore reaffirm our BUY recommendation with an unchanged FV
of MYR2.25, based on a target FY14 P/E of 14x, in line with those of
other small- to mid-cap oil & gas (O&G) companies.

Gets Extension On Existing Contract

Alam Maritim (AMRB)’s wholly-owned subsidiary has been awarded an
extension worth MYR58.8m on its contract to provide an
accommodation barge. The 12-month extension took effect on 1 Feb
2014. We make no changes to our FY14/FY15 earnings forecasts as the
extension has been reflected in our numbers. Maintain BUY, with an
unchanged FV of MYR2.25, based on a target FY14 P/E of 14x.

1. 12-month contract extension worth MYR58.8m. AMRB announced
that its wholly-owned subsidiary, Alam Maritim (M) SB, has been
awarded an extension of its existing contract with ExxonMobil
Exploration & Production Malaysia Inc (EMEPMI). The contract involves
the provision of an accommodation barge by AMRB for a period of 12
months. The extension, which took effect on 1 Feb, is worth about
MYR58.8m.

2. FY14/15 earnings estimates remain intact. We maintain our FY14/15
earnings estimates as the contract extension has been reflected in our
forecasts. We have imputed an average fleet utilisation rate of around
82% throughout FY14/15. We do not expect any vessel to be idle for
more than two months as we believe demand for offshore support
vessels (OSVs) remains buoyant.

HIGH ELECTRIC TARIFF NOT MUCH EFFECT TO KOSSAN.
( FR NEWSPAPER I READ )

good stock is good stock. like INSAS.

the time almost reach for APFT.

Silkhld like to last minutes rebound ones.

Exxon Extends Accommodation Barge Lease in Malaysia

Posted on Feb 5th, 2014 with tags Accommodation, Barge, Extends, Exxon, Lease, Malaysia .
Malaysia’s supplier of offshore vessels Alam Maritim has been awarded an extension of its contract with ExxonMobil for the provision of one accommodation barge.

The extension of the contract will be effective from 1 February 2014. ExxonMobil has decided to extend the contract for a one year period.

The value of the contract extension is estimated to be around $17.6 million (RM58.8 million).

Offshore Energy Today Staff, February 05, 2014

good to accumulate at rm1.40 something right now.

Maintain BUY, with MYR2.25 FV. We nudge our FV higher to MYR2.25
from MYR2.00, at an unchanged target FY14 P/E of 14x. We revise
higher our FY13 and FY14 earnings estimates by 15.6% and 10.1%
respectively to reflect improved contribution from JCE. We believe that
AMRB will be able to maintain its high vessel utilization rate given that
more T&I projects that require the use of its vessels may be awarded.

Outstanding orderbook estimated at MYR2bn. AMRB has secured a
contract for the provision of a straight supply vessel (SSV) to an oil & gas
(O&G) company, which boosted its estimated orderbook to MYR2bn.
Given the tightening supply of vessels in the Malaysian market and
growing demand due to more contracts potentially being awarded by
Petronas, we believe AMRB stands to be one of the biggest
beneficiaries, thanks to its large fleet of vessels.

9MFY13net profit exceeds our full-year estimate. AMRB’s 9MFY13
core net profit of MYR76.3m (+36% q-o-q, +88% y-o-y) beat our full year
estimate by 2%. The numbers made up 92% of consensus’ full-year
forecast. This was due to the significantly higher profit contribution from
its jointly-controlled entities (JCE), driven by a higher vessel utilization of
about 90%. The 9MFY13 gross profit margin (GP) improved significantly
in 9MFY13 to 20% from 15% in 9MFY12. However, the higher staff and
other operating costs were mitigated by

aslamsham92, how many do u collect Silkhld share?

No. but b4 that I have 10 lots at 0.560.
I juz wanna to accumulate more Silkhld share.

I Q at 0.690 since this morning.

SILK ah, Silk...
LAST MINUTES u REBOUND.

STARTED TO CLIMB.

The main diff is that Silkhld got Tol Business.

Silkhld this stock, almost similar to Tas & Perdana.