Business News

Home > Business > Business News

Published: Tuesday January 21, 2014 MYT 6:48:00 PM
Updated: Tuesday January 21, 2014 MYT 6:50:07 PM


Lembaga Tabung Haji ups stake in Brahim’s Holdings


KUALA LUMPUR: In-flight caterer Brahim’s Holdings Bhd, which has attracted investors’ attention recently, saw Lembaga Tabung Haji emerging as a substantial shareholder.

A filing with Bursa Malaysia on Tuesday showed the pilgrimage fund had acquired 366,500 shares on Jan 9.

The purchase of the shares pushed its shareholding to 5.03% comprising of 11.335 million shares.

On Jan 7, Brahim said it was collaborating with Japanese airline ANA Holdings Inc to produce halal Japanese cuisine for in-flight catering in Japan. Also under consideration was the setting up of a joint venture for a halal flight kitchen in Narita and Haneda Airports in Tokyo.

Alliance Research is maintaining its Strong Buy recommendation on Brahim’s Holdings with a revised target price of RM2.67.

On Jan 16, Brahim’s announced it would produce and supply lalal meals to offshore oil platforms and vessels under an MoU with Labuan Halal Hub Sdn Bhd

Sorry to all Daya;s investors,

DAYA's total OG Order books is RM1,900,000.000

Not RM1,200,000.000.

Words fr RHB

Joining the fray

We believe that Daya management’s apparent shift in focus to expand its offshore O&G capability has been timely.

Despite the lack of a track record, Daya managed to clinch a North Sea subsea services contract from Technip that was heavily contested by other more established international players.

This provides a solid foundation to back its bid for more Malaysian offshore O&G contracts.

The right ingredients

Daya’s push to break out of its bread-and-butter business can be credited to its highly capable management team, which has a diverse background and expertise.

The presence of management personnel with prior working experience in international O&G companies also provides inroads into abundant overseas contract opportunities.

Ready commitment the winning factor
We view that Daya’s ready commitment to deploy the state-of-the-art SD1 OSCV as the winning factor behind the landing of the Technip contract.

The risk taken by the group to charter the vessel from SIOFF for the purpose of the contract also represents management’s confidence in its offshore services capability.

The arrangement entails a daily charter rate of USD102,000 per day for a period of 100-175 days per year for seven years.

The contract is set to commence in 1Q14.

A shorter-term charter of 40 days commenced in mid-September and 4Q13 will be the first full-quarter contribution from Daya’s charter services.

We gather from management that Technip has agreed to charter the SD1’s “sister” vessel (the SD2), under similar terms but for a shorter period of three years

The contract is the group’s biggest achievement to date, as it marks its maiden foray into the international offshore subsea services market.

DOCIL trumped six other international bidders who have far superior experience in executing works of such nature, especially in the harsh environment of the North Sea. Apart from providing a team of highly-experienced engineers,

it was the deployment of the state-of-the-art SD1 by a fledgling O&G services company that greatly impressed Technip.

The company is currently backed by a team of 40-50 people.

The game changer. In August 2013, Daya announced that its sub-subsidiary, Daya OCI (Labuan) Ltd (DOCIL) entered into a charter party contract with Technip Norge AS (Technip) to provide an OSCV (the SD1) that will undertake a range of offshore services works for Technip in the North Sea and North Atlantic. DOC will execute the charter on behalf of DOCIL.

Onshore/offshore activities. Daya Proffscorp SB (DPSB), another unit within the O&G segment, is mainly involved in the provision of mobile cranes and heavy lifting services for both the onshore and offshore O&G industries.

It has a fleet of 25 cranes, ranging from a 20-tonne Tadano to a 400-tonne Liebherr, aged 2-30 years. Offshore activities. Offshore works are undertaken by its Daya Offshore Construction SB (DOC) subsidiary.

It offers specialised subsea construction, installation, engineering, as well as inspection, repair and maintenance (IRM) services locally and abroad. DOC operates a fleet of vessels, coupled with technically advanced equipment, survey systems, remotely operated vehicles (ROVs) and modulated diving systems (MHS).

DSSB is also the sole supplier of odorants for gas in Malaysia and has extended its footprint into Surabaya, Indonesia, via a contract with Pertamina.

DSSB’s market presence in Indonesia is still small, but it has the scope to expand beyond Surabaya going forward.

The Indonesian market remains attractive, given its tremendous population growth and the use of liquefied petroleum gas (LPG) LPG, to which DSSD’s odorant is added into, has yet to reach nationwide acceptance and hence provides opportunities for expansion.

DSSB holds 25 important licences from Petronas,
complemented by an ISO 9001:2008 certification.

Its heavy investment on logistic equipment over the years lent credibility that helped bag the rights to represent 50 different international principals like Arkema Inc, Sud-Chemie Inc, JJ Degussa Chemicals,

Infineum International and The Dow Chemical Co (DOW US, NR).
Petronas and Gas Malaysia (GMB MK, NR) are among its local customers.

Onshore activities. The onshore O&G business under Daya Secadyme SB (DSSB) revolves around the transportation, trading and distribution of specialty chemicals and catalysts. This 100%-owned subsidiary was injected into the group via a reverse acquisition in Aug 2007. The MYR24m acquisition was satisfied via: i) the issuance of 83.6m new ordinary shares in Daya at an issue price of MYR0.23 per share, and ii) a cash consideration of MYR4.8m.

O&G At The Forefront
• Daya is recognised for the quality of its services, which boosts its ability to represent international principals in the downstream segment
• Management remains positive on Indonesia’s population growth, which, in turn, will drive the largely untapped use of LPG
• Offshore O&G business is the main thrust of growth for the group
• It clinched its first international O&G subsea contract from O&G giant Technip

Norges wish to get Daya's share around 5%.
Norges will still contonue to accumulate Daya;s share.

too early to say fantastic.

Federal Gov target to get RM760billion income.

For this smallest OG campany like DAYA,
Order book in hand at RM1,200,000.000.
This is very good achiecment for DAYA.

I am expected in this end of Dec 2014,
DAYA's price may reach at RM0.70-RM0.80
simply bcos the campany has order book RM1,200,000.000 contracts( RM12亿).
They assumed DAYA more contracts will secure soon in this 2014.

布拉欣控股上週四（16日）向馬證交所報備，已與納閩清真中心簽署備忘錄，為后者在東馬和汶萊的海上石油平台和船隻提供清真熟食餐點和醬料。

　該公司也會與納閩清真中心合作，為后者審核新海外市場，及為清真食品製造過程管理，給于技術支援。

　報備文告指出，該忘錄從今年1月開始生效，直至今年12月31日。

　豐隆投資研究分析報告指出，看好上述合作計劃可進一步加強布拉欣控股作為清真餐飲服務商的地位和品牌。

　“該公司同時能在供應清真餐飲至海上石油平台和船隻市場獲得新份額。”

　布拉欣控股除了計劃擴大旗下餐飲業務外，也正努力改善物流業務（倉儲）。

　券商持續給于該股“買入”評級，目標價為2.64令吉。

Following our recent company visit, we reaffirm our BUY recommendation on Kossan Rubber Industries (Kossan) with a higher fair value of RM5.05/share (vs. RM3.80/share previously), to reflect our upward revised earnings forecast and higher PE target of 17.5x (+2SD above its 5-year mean).

- Although Kossan’s share price had performed exceedingly well in the last year (outperforming its peers and market by 125% and 147% respectively),
we believe that the stock has further upside.

- Our upbeat view is premised on:-
(1) the group’s superior earnings growth of 28% in CY14 vs. peers’ average of 11%;
(2) margin expansion on the back of its move up the value chain and favourable operating environment;
(3) growth in its TRP division; and
(4) greater investor interest following the stock’s improved liquidity and decent yields.

- We believe that Kossan’s earnings growth will continue to be capacity-driven, underpinned by its target to have an installed capacity of 32bil pcs p.a. by 2017. It is presently constructing 3 new NBR glove plants which will collectively increase its capacity by ~5bil pcs (or 30%) in FY14F. This potentially translates into additional revenue of ~RM400mil for FY14F.

- We anticipate a similar revenue contribution and quantum of NBR gloves to come on-stream in FY15F as the group will be fast-tracking the construction of new plants at its recently purchased land in Kapar. Its initial plan to build 6-8 high productivity plants at Batang Berjuntai has been pushed forward by a year as ground works are yet to be completed.

- We envisage Kossan’s FY14F EBITDA margin to expand to 18% on the back of:- (1) low input prices; (2) strengthening of the USD (vs RM); (3) its NR:NBR product mix target of 20:80 by FY16F (45:55 now); and (4) greater production efficiency.

- Management deems the current cost headwinds (e.g. energy) to be manageable as the impact is mild compared to that of raw material prices (~50% of production costs).

- We concur with management’s view that the growth trend at its TRP division has staying power given the strong foreign demand for infrastructure rubber products and auto parts. We gather that construction for its Jakarta plant has commenced, with contribution from FY15F onwards.

- All in all, we have raised Kossan’s FY13F-FY15F earnings forecast by 6%-16%. In tandem with that, we have also adjusted our gross DPS forecasts while maintaining a payout ratio of 40%. Yields are still decent at 2%-3%.

- Valuation-wise, Kossan remains attractive. At the current price, it is trading at an FY14F PE of 14.7x, on par with Top Glove’s but at a 28% discount to Hartalega’s 20.6x.

Its started to climb.
I think investors accumulated the shares.

Highlights

Brahim’s entered into a MoU with Labuan Halal Hub Sdn Bhd (LHH) to produce and supply Halal meals to offshore oil platforms and vessels, and distributing Brahim’s ready-to-eat (RTE) meals and cooking sauces to East Malaysia and Brunei.

Brahim’s is collaborating with LHH to provide technical support in the management of Halal process and accreditation to new overseas market developed by LHH.
Comments

We are positive with the announcement as Brahim’s have always been on an expansion mode to further strengthen its status and branding as a Halal meal caterer.

In brief, LHH was established by Perbadanan Labuan to invest and expand in the Halal industry in line with the growing demand for Halal food and services in Asia.

Moreover, the strategic business alliance would allow Brahim’s to gain new market share in the Halal food catering for offshore vessels and platforms and generate valueadded ventures for Halal Hub operations in the Asia Pacific region. Currently, Brahim’s is only known for catering Halal in-flight meals.

Besides exposing Brahim’s on its F&B business segment, the group is also putting effort to further improve its logistics division (warehouse) by giving technical support and expertise in Halal Hub Warehouse. To recap, Brahim’s have managed to turnaround its logistics division with a slight profit.

Accounting-wise, we do not see the collaboration to significantly boost Brahim’s earnings for FY14. Furthermore, the MoU is effective for the period until 31 Dec 2014

Unchanged.
Rating

BUY

Positives – (1) Niche industry; and (2) Sustainable earnings from long-term concession agreements.

Maintain BUY with unchanged TP of RM2.64 based on 16x FY15 P/E and 8.5x FY15 EV/EBITDA

This campany loss money.

高產尼品的董事经理林宽城曾经披露，仅仅专注于医疗类乳胶手套和定睛手套的平衡，其实并非高產尼品唯一的目标。

在创造价值寻求互补前提下，高產尼品于2011年6月以306万美元【918万令吉】收购香港Cleanera净房用品公司的51%股权。

Cleanera净房用品公司是专门生产净房用途的面罩，手套及湿巾 主要用于高端科技产品，如硬碟制造与生产，以避免在接触这些高端产品时，因磁性作用产生而导致产品毁坏。

在2012的财政年度中，净房用途业务的营业额也不负众望，提升了30%。



目前，马来西亚唯一成功生产净房手套业者，只有一家在新加坡上市的 RiverStone Holdings Limited。

高产尼品的產能扩展计划也如期进行，其第一间工厂將于1月营运，余下的两间工厂则將于第二季正式营运。

而这3间工厂于2014年完成后，预测將把高產尼品的產能提升33%，至每年200亿只手套。

高产尼品最近也以1937万1398令吉，收购坐落在雪兰莪州加埔【KAPAR】的土地，总面积为56英亩【9.26英亩】。

此片土地的地点临近高产尼品工业的巴生厂房，因此，可以连接手套制造的所需基建，如天然气供应。

因此，今年的这3间工厂一旦完成，高产尼品將开始另一项在加埔新地皮的扩展计划。

从年报中显示，此片土地是高产尼品2015年至2018年发展计划之用，目标为2018年达到年产量320亿件。

若以2014年杪200亿只手套的预测产量推算，意味着未来3年将进一步增加60%。每年将额外生产大概40亿件。

在业务扩展上，高产尼品总是登『高』自卑，按一定的顺序进行。

1979年创办至今，经历34年的挑战，高產尼品【KOSSAN，7153，主板工业股】是是一家能研发与多元化产品的手套公司，并一直坚持创新与技术提升。

主要业务：

1。技术性树胶產品【TRP】
2。手套
3。其他【投资控股及工程服务，不过比重不大】

2012年3月与7月，新设立两间厂房投入运作，专注于生产定睛手套及外科手套。

新的定睛厂房额外生产14亿件，这让高產尼品手套的年均产能提升到150亿件。


高產尼品的生产线乃具有天然胶和定睛手套的双重生产能力，能在必要时进行替换。

无形中，增加根据市场需求，随时更换产品生产的能力和灵活度。

目前生产线中，胶乳与定睛手套的产量比重为47%与53%，这样的比例是为了抗御胶乳成本价格高涨的关键因素。

I would like to notice regarding Brahims here
which this campany sure wil show good Qrt report in begin 2014
The price wil solid growth start in 2014.
If the Brahims drop is signer for accumulate.

For future, begin 2014 its will fly and fly to rm3.00, rm4.00 or even rm5.00.
Hold tight to Brahims this counter.

布拉欣控股，因为跟TRR有合作的关系，TRR每年以市价供应11万公吨的原糖给布拉欣控股。

这11万公吨的原糖，因为没有买贵，将会带动其净利赚幅比马来西亚糖厂和中央炼糖厂高。

5. 企业拼购

其中有可能会被注入的包括：

1.食品制造的Dewina食品工业【DFI】

成立於1986年的Dewina食品工业以布拉欣的品牌，制造多种食品，包括现成的膳食【肉或蔬菜】和配制好的即用烹饪酱料。

它的热门产品，包括马来西亚娘惹酱，辣番茄酱，沙爹酱，咖喱鸡配土豆，牛肉，鸡饭以及羊肉饭。

Dewina食品工业，产品出口到新加坡，汶莱，澳洲，英国和美国，拥有稳健的市场占有率和相当的知名度。

2. 工业、机构餐饮及设施管理的 Desasiswa私人有限公司

Desasiswa私人有限公司拥有管理马来西亚博特拉大学【UPM】餐饮的经营权，包括6个食堂，1个美食广场和几家专卖店。

3. Desatera私人有限公司

Desatera私人有限公司是Dewina集团与武装部队合作社的联营公司，获得68个军事食堂的经营权，每日提供5餐给2万5000军人使用。

这项经营权为期还有12年至2026年。

TRR是一家主要涉及及生产和销售原糖和炼糖、仓库、生产糖的机械和配备的公司，拥有66年有关糖的专业知识。

在这些合作下，TRR以市价每磅16.3仙【而不是限于长期合约每磅26仙的价格】提供原糖给布拉欣控股与Admuda Sdn Bhd，然后TRR再向布拉欣控股与Admuda Sdn Bhd承购所提炼出来的糖。

TRR每年只供应11万公吨的原糖，倘若布拉欣控股需要更多的原糖，就必须根据长期合约价格【LTC】购入，并影响其净利【当然啦，贵了接近60%】。

这个新业务，估计可以为布拉欣控股2015财政年贡献35%的营业额。

马来西亚的另外两家糖厂是：

1. 土展局全球创投【Felda Global Ventures Hldgs】的子公司马来西亚糖厂【MSM Malaysia Holdings，5202，MSM】；

2. 大亨赛莫达的贸易风持有的中央炼糖厂【Central Refinery】。

布拉欣控股的初步目标是占有沙巴和砂劳越糖市场的30%市场份额，进而就是垄断吧？

布拉欣控股投入1亿5000万令吉在砂拉越古晋的德玛拉勿 【Demak Laut】工业园建立糖厂，一年的产量为10万至18万公吨，最高还可以扩张至每年40万公吨，因此布拉欣控股计划每年逐步增加5万公吨。

这些白糖联营业务，预期可以为布拉欣控股2015财政年带来贡献，估计可取得1亿3110万令吉的营业额。

布拉欣控股和Admuda Sdn Bhd也与泰国的一家公司 - THAI ROUNG RUANG SUGAR GROUP【TRR】合作。

巴贝拉咖啡厅是欧洲最古老的咖啡公司之一，以意大利咖啡馆的设置提供咖啡和意大利菜。

布拉欣控股在马来西亚和新加坡分别拥有5家及1家连锁经营权，并以每年开设两家为目标。

2. 炼糖厂

随着收购Admuda Sdn Bhd 的60%股权后，布拉欣控股也涉足白糖和糖浆提炼。

Admuda拥有马来西亚国际贸易及工业部【MITI】发出在东马提炼白糖和糖浆的执照，

这张执照也是马来西亚国际贸易及工业部在38年内，所发出的第三张。

布拉欣控股在吉隆坡国际机场经营6家餐厅，包括汉堡王。

布拉欣控股在廉价航空终站【LCCT】经营2家餐饮店面，即Taste of Asia餐厅和Cafe Espresso咖啡厅，而其中Taste of Asia餐厅是该集团表现最佳的餐饮分店之一。

一旦吉隆坡国际机场2【KLIA 2】开始营运，可以增加4万9700平方尺的营业面积，从中分配到一间餐饮连锁店和一家美食广场。

基于更大的空间，吉隆坡国际机场2可以容纳4500万乘客【廉价航空终站一年才2000万】，更多的乘客务必会提高布拉欣控股的营业额。

目前布拉欣控股的业务：

1. 飞机餐饮

布拉欣控股拥有吉隆坡国际机场【KLIA】和槟城机场供应马航【MAS，3786，主板贸服组】航空餐饮服务的25年【直至2028年】独家特许经营权。

飞机餐饮可以说是布拉欣控股的核心业务，占2012财政年总营业额的86.9%，同时也贡献了大笔的净利。

在收购旗下航空饮食集团 - Brahim’s–LSG Sky Chefs Holdings Sdn Bhd 【BLSG】的另外49%股权后，除了营业额及净利的增长，同时也拥有了绝对的控制权，让布拉欣控股在打造清真食品市场，如鱼得水。

目前，布拉欣控股在吉隆坡国际机场的厨房面积为5万9000平方尺，拥有1200名员工。

每天可以生产6万份飞机餐点，倘若增加人手，产能还可以进一步增加到每日9万份。

马银行研究相信高產尼品（KOSSAN,7153,主板工业產品组）及速柏玛（SUPERMX,7106,主板工业產品组）

將引领丁腈手套业扩大產能，当中速柏玛將提高1.8倍至123亿只，

而高產尼品则提高59%至135亿只。

“我们估计今年4大手套业者所带来的额外供应將达136亿只，迎合全球市场新需求，

预计约为130亿只。＂马银行研究將手套业评级从“中和＂调高至“加码＂，

並顶级手套上调至“买进＂评级，

而高產尼品及贺特佳（HARTA,5168,主板工业產品组）各维持在“买进＂及“守住＂评级。

Investing

Home > Business > Investing

Published: Thursday January 16, 2014 MYT 9:20:00 AM
Updated: Thursday January 16, 2014 MYT 9:20:52 AM
Affin Research maintains Buy on Kossan, higher TP


KUALA LUMPUR: Affin Research has reiterated its Buy call on KOSSAN with a raised target price of RM5.08 from RM4.30 and continues to like the company’s solid fundamentals.

In a note on Thursday, Affin said it remains upbeat on Kossan’s prospects and favours the group’s current position, whereby all its production lines are highly versatile and interchangeable.

“This means minimal downtime in switching from natural rubber (NR) to nitrile gloves and vice versa depending on customers’ need.

“We are also positive on Kossan’s strategic capacity expansion and diversification to technical rubber product (TRP), surgical and cleanroom gloves that enables KRI to widen its customer base.

“To cater to the increasing demand for its TRP products, we understand that the group is aggressively looking to expand its TRP production facilities. Given the rising cost of production in Malaysia, we believe there is also a high likelihood for KRI venturing its production expansion abroad such as Vietnam,” it said.

Assuming a 15 line plant, Affin believes the group’s FY15 net profit soule be boosted by around RM15mil to RM230mil.

“Note that pretax profit from Kossan’s TRP division has grown by 15% on-year in 9MFY13 to RM15mil,” it said.

We tactically upgrade Top Glove to BUY with an unchanged TP of MYR6.20 (17x 2014 PER). We reiterate BUY on Kossan (TP: MYR4.50, 17x 2014 PER) and HOLD on Hartalega (TP: MYR7.10, 19x 2014 PER).

We think the strong buying interest will rotate to Top Glove in 2014, considering its sharp share price underperformance over its peers in 2013.

The immediate excitement for Top Glove will come from the falling latex price, which will not only lift margins, but also stimulate its sales volume.
What’s New

Just fifteen days into 2014 and the latex price has already dropped by 12% YTD to MYR4.75/kg (-23% YoY). We think the free fall could be due to: (i) rising supply, which outweighs the steady demand. The supply surplus for natural rubber is expected to widen in 2014 as rubber plantations in Thailand and Vietnam enter their mature phase; and (ii) the Thai government’s preoccupation with its political turmoil at home, and it has not been aggressively stocking up natural rubber inventories to shore up prices.
What’s Our View

Top Glove is looking attractive as: (i) it is the biggest beneficiary of the falling latex price, with the bulk of its sales derived from the latex glove segment (1QFY8/14: 68% of total sales volume); (ii) its share price has declined 15% over the past five months on softer demand for latex gloves but has yet to reflect the latest plunge in latex cost for the company; and (iii) stock is now trading at 15x 2014 PER, below its historical mean of 17x and its peers’ forward PERs (Hartalega: 19x, Kossan: 16x).

The sector is also likely to witness another energy cost hike in 2014, ie gas tariffs. However, we believe glove makers will be able to pass on the cost given that it is an industry-wide cost inflation. We note that the recently implemented electricity tariff hike has been fully passed through, keeping glove-makers’ margins intact.

No changes are made to our earnings forecasts and TPs for stocks under our universe as we have already factored in a higher gas cost. Nevertheless, a sustainably low latex price will trigger an earnings upgrade for Top Glove.

財經
股市

16 Jan 2014 17:17
Share on facebook Share on twitter
轉寄
列印
字体:

　（吉隆坡16日訊）布拉欣控股（BRAHIMS，9474，主要板貿易）與納閩清真中心私人有限公司簽署備忘錄，為后者旗下海上石油平台和船隻提供清真餐飲。

　布拉欣控股今日向馬證交所報備，公司已與納閩清真中心簽署備忘錄，為后者在東馬和汶萊的海上石油平台和船隻，供應清真熟食餐點和醬料。

　該公司也會與納閩清真中心合作，為后者審核新海外市場，及為清真食品製造過程管理，給予技術支援。

　布拉欣控股指出，預計該備忘錄的簽署不會為公司本財年每股收益和每股淨資產帶來重大影響。

　這項備忘錄從今年1月開始生效，直至今年12月31日。

玩股票就是这样子，赢了钱就要舍得离开。

winner = able to sell to take profit.
Losser = Dun want to sell, keeep & keep & hold long time like fall in love
with the counter; greedy.

Scomies sure will rebound at rm1.00.

有时候价钱下，就是等于给机会别人买进，把价钱堆高。

好的股，价钱下你也不用怕。

Me also like u, sell others counters share to buy in Kossan last time.

DUN WORRY, KOSSAN WILL REBOUND.
TRUST ME, JOEC

I can confirm that Brahims sure up in this 2014.
Ppls also has good comment to Scomies & Fitters.

better run to Brahims.
Im already switched my money fr AirAsia to Brahims , Scomies & Fitters.

Brahims's price will much higher in this coming weeks.

Fitters Diversified - Unveils plan to list FNRG in Singapore
Date: 13/01/2014

Source : HWANGDBS
Stock : FITTERS Price Target : 0.95 | Price Call : BUY
Last Price : 0.865 | Upside/Downside
+0.085 (9.83%)


Fitters Diversified; Buy; RM0.86
Price target: RM0.95; FIT MK

Fitters announced that it has proposed to list it wholly-owned subsidiary Future NRG Sdn Bhd (FNRG) on Catalyst, the sponsor-supervised board in Singapore. The listing is subject to the approvals of Fitters’ shareholders and relevant authorities.

There are scarce details on the listing plan at this juncture but we understand that FNRG will be the Group’s flagship arm for the renewable energy business, focusing on: 1) biomass to renewable energy, 2) waste to energy (municipal, industrial, medical waste); and 3) sustainable palm oil mill. FNRG’s main asset includes the 60MT palm oil mill in Kuala Ketil, Kedah.

We are neutral on the potential listing of FNRG given the insignificant contribution of its renewable energy business. The renewable energy division contributes RM1.2m pretax profit in 9M13, accounting for a mere 3% of the Group’s pretax earnings. Nevertheless, the listing may help to raise proceeds to further grow the business.

We maintain our Buy rating on Fitters with SOP-derived TP of RM0.95. Fitters’ growth prospects will be anchored by its property division going forward, particularly its Rawang project on a 50-acre land which is estimated to carry RM300m GDV.

Source: HwangDBS Research - 13 Jan 2014

Business News

Home > Business > Business News

Published: Monday January 13, 2014 MYT 3:33:00 PM
Updated: Monday January 13, 2014 MYT 3:38:52 PM
Scomi Energy wins RM75mil Indonesian contract


PETALING JAYA: Scomi Energy Services Bhd, formerly Scomi Marine Bhd, has won a RM75mil contract from Virginia Indonesia Company (Vico) to provide solids control equipment and environmental handling services for a period of 36 months.

“We are glad to continue this working relationship with Vico which has spanned over 15 years now. This is a testament of Vico’s continued confidence in our highly skilled and experienced team in providing quality service and value,” said Shah Hakim Zain, CEO of Scomi Energy.

“We have identified Indonesia as one of Scomi Energy’s key markets along with Malaysia, Thailand, Myanmar, Turkmenistan and the Middle East region. Our strategy to focus on the eastern hemisphere is bearing fruits as the current outlook for these countries is highly positive with heightened activities in oil and gas exploration,” continued Shah Hakim.

In addition to its recent Petronas contract in Myanmar valued at over RM90mil, Scomi Energy now boasts order book exceeding RM5.2bil.

Scomi Energy has been present in Indonesia for over 20 years. Its group of companies, which are involved in oilfield and marine services, operate in various locations across Indonesia including Balikpapan, Banjarmasin, Duri and Jakarta.

Correct. Argee with Stockman.
Good to buy in Brahims for coming in the bright future.

Good to collect Kossan with 4.25 now

Not so posible below rm3.00.
If I not correct, MKH will fly tomorrow ,
Hope the price will be close at rm3.27- rm3.30.

Thank. Happy invest!