it is the strongest of the OG counters in Malaysia. with the strongest Balance Sheet, best managed and not even a pure OG play.
it is an asset play with $1 billion inventories being turn into cash this year, a $1 billion new contracts on hand, a $ 1.6 billion recurring income over 8 years with Government of Mexico.
Coastal Contracts Bhd ("Coastal" or "Company") Vessel Sales Worth Approximately RM185 Million
Coastal is pleased to announce that its wholly-owned subsidiaries have collectively secured contracts for the sales of three units Offshore Support Vessels and five units low-end vessels for an aggregate value of approximately RM185 million.
Including the new contracts and after adjusting for revenue recognition from vessels delivered to buyers up to 25 February 2016, Coastal Group has about RM1.2 billion worth of cumulative sales orders awaiting delivery to customers up to 2017.
The revenue stream from the latest contracts is expected to contribute positively to the top and bottom line performance of the Group for the new financial period ending 30 June 2016.
None of the directors and/or substantial shareholders of the Company and persons connected with them have any interest, direct or indirect, in the above transactions.
In 2-3 years time, oil prices will definitely rebound. I foresee that Coastal will be one of the biggest beneficiaries when this happens. I even think that in 3-5 years, it could well go above RM6.00.
When others are fearful, you should be greedy as Buffet said.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
JoshuaMS7
4,309 posts
Posted by JoshuaMS7 > 2016-02-04 09:22 | Report Abuse
No hope for this company? It seems can't move anymore!