hey all, after the recent downturn of the market I have created a watchlist of ACE counters which has potential to be played when the downside reverses, which can be expected very soon. I have posted the list on my new facebook page facebook.com/investorzoneklci
please like the page to receive regular updates on how the selected counters perform and any potential entry opportunities
For the current financial quarter ended 31 March 2015, the Group recorded a PBT of approximately RM11.20million against a PBT of RM17.16 million attained in the preceding quarter. The decrease in PBT arose mainly due to lower interest cost being capitalised and lower foreign exchange gain recognised as compared to the preceding quarter [PROFIT NOT DECREASE?]?????
Deferred PP102 delivery? Perisai reported a net profit of RM7m in 1Q15 (vs. a loss in 1Q14), which broadly met our expectation at 20% of our FY15 forecast but missed consensus at just 11%. However, as the company is unlikely to take the delivery of yet-to-be-contracted PP102 next month, we reduce our FY15-16 EPS as we remove the asset from our forecasts until Jun 2016. Management is now scouting for three contracts as Rubicone and E3 are also unemployed. Our target price falls due to the EPS cuts. We continue to value the stock at 10.5x CY16 P/E, still at a 30% discount to the oil & gas big caps. Maintain Reduce with a potential de-rating catalyst being a prolonged contract search for the three assets. Switch to our top oil & gas small-cap pick Perdana. A turnaround yoy Perisai booked a net profit of RM7m in 1Q15, an improvement on a net loss of RM3m in 1Q14, mostly due to the contribution from drilling rig PP101 that started operations in Aug 2014. Perisai’s 51%-owned floating production, storage and offloading (FPSO) vessel Perisai Kamelia, which started production in Nov 2013, chipped in as well, helping to soften the blow caused by the unemployment of mobile offshore production unit Rubicone and pipelay barge E3 since 1 Oct 2013. The absence of a dividend payment was expected. Three assets yet to be contracted We removed Rubicone and E3 from our forecasts in Dec 2014 as management continues to look for contracts for these assets. We now also remove PP102 from our forecasts until Jun 2016 as management is unlikely to take the delivery of PP102 next month as the rig has yet to be contracted. This results in EPS cuts of 14% in FY15 and 19% in FY16. Our forecasts now include only these assets: PP101, Perisai Kamelia and various offshore support vessels under 51%-owned Intan. Rubicone for PM9? We understand that Rubicone has been earmarked for work at the PM9 gas field in offshore Terengganu. The MOPU is suitable for the job because it has gas facilities. However, a decision on the operatorship of PM9 has been delayed for more than a year and we understand that the earliest a decision will be made is in mid-2015. Meanwhile, management is bidding for at least three domestic contracts for PP102.
Itu IB brainless or what....their stupidity cant be measure -infinity.....when oil drop to USD40-45 ...they still expect perisai can get better results ka...wakakaka
Perisai is now officially being welcomed as a member of "SHIT" counters.
Me also quite suprised to see what happened to Perisai today and made me wonder whats the purpose of quarterly financial reports when market especially our well-known "heavily syndicated controlled" Bursa Malaysia is not based on these anymore. Sorry to Moon888 & bathgel.. me really wished yer all can smile today onwards. Looks like its better to trade in so called "gorenged" counters since FAs are things of the past. Come.. Vsolar Kanger Wintoni etc anyone?
Make your own decision bathgel. In my view.. these analysts are also paid and part of the syndicates. They will write comments as required by these "bosses". Just study those "gorenged" counters and look at the analysts' comments which tend to "agree" by giving higher and higher TPs to coincide with the rise in prices. Our Bursa has failed to curb these practices and false rumours for years.
And yes sg999.. KNM is better because it has regular "supporters"..
Looks like at the moment just forget tis "useless" counter laa. Those that traded in Biohldg n Wintoni yesterday n tis morning.. congrats!!! Their prices may beat Perisai soon.. yess..
Only Kenanga, surprisingly, has increased the TP. The other 3 analysts have reduced their TPs. So be careful everyone as Perisai may drop much more and maybe go into PN17 in a few months as opined by some analysts. Note that Maybank with a SELL call even gave the lowest TP of 0.42 only. Trade wisely and stay away from this counter like a plague if possible..
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Posted by The One > 2015-05-13 17:28 | Report Abuse
Superb quarter report just out. Congrats everyone !!!