Posted by kcfan > 2013-02-07 21:23 | Report Abuse

My focus Oil & Gas counters.

Posted by kcchongnz > 2013-02-07 22:38 | Report Abuse

What do you see in its final quarter results?

Posted by minitrader > 2013-02-08 10:33 | Report Abuse

HLIB today 8 Feb 2013

Perisai Petroleum O&G (BUY çè)

Value Shield in Violent Markets

§ In line: FY12 Core profit rose 131% YoY to RM78m, making up 93% and 85% of HLIB and consensus full-year estimates, respectively

§ Disposal of 50% equity stake in SJR Marine related to the FPSO purchase, clipped RM10m from 4Q profit. Otherwise, profit would have grown 135% YoY to RM88m, making up 105%% and 96% of HLIB and consensus full-year estimates, respectively.

§ Reported PATAMI increased 223% to RM92m due to a barrage of non-reoccurring items including 18.4m accounting gain related to the MOPU purchase, RM17 impairment on associates and an RM8m impairment on cold staked vessels. Incorporation of a Labuan company also saw a RM29m tax write back which should lower the tax rate going forward. This was partly offset by approximately RM19m MI share of the tax write back.

§ We maintain our TP of RM1.55 and pending details of the rig contract on an unchanged 16x FY/13 EPS of 9.7 sen/share.

Posted by minitrader > 2013-02-08 10:39 | Report Abuse

Latest (8/2/13) TP of 7 brokers averaged 1.42, the highest being 1.63(CIMB) and lowest 1.25 (HwangDBS)

Posted by minitrader > 2013-02-08 10:47 | Report Abuse

Based on average TP of 1.42, u have >42% and if based on CIMB's TP, it's more than 60% upside.