Alam Maritim Resources Berhad reported that its wholly-owned subsidiary, Alam Maritim (M) Sdn Bhd, received a Letter of Award from PETRONAS Floating LNG 1 (L) Ltd. (PFLNG-1), a unit of Malaysia's national oil company Petroliam Nasional Berhad (PETRONAS), for subcontract work on the floating liquefied natural gas (FLNG) facility, which will be deployed offshore East Malaysia. Under the contract, Alam Maritim will supply miscellaneous marine spreads for PFLNG-1 project. The contract value, as announced in a filing with local stock exchange Bursa Malaysia, is $6.8 million (MYR 28.3 million). Alam Maritime will commence work on the subcontract in mid June, with completion scheduled for mid October.
he Board of Directors of Alam Maritim Resources Berhad ("the Company") is pleased to announce that all the resolutions as set out in the Notice of the Extraordinary General Meeting ("EGM") dated 29 April 2016 were duly passed by the shareholders present and voting by show of hands at the Company's EGM held today.
EGM passed. Once they have set the date and price for ESOS. they will push the price up. Now they will still keep it low so that they could by ESOS at a cheaper price.
SINGAPORE (July 7): Ernst & Young’s recent survey “Capitalizing on opportunities: Private equity investment in oil and gas” found that 43% of the 100 private equity (PE) firms surveyed were planning acquisitions in the oil & gas sector for the first half year period of 2017.
That is up from the 25% figure before the end of 2016.
EY noted that favourable asset valuations and oil price consensus were among the main reasons for the planned acquisitions.
Furthermore, all of the respondents expected the Asia-Pacific region to see higher buyout activity in 2017, given lower costs, ease of doing business, and general macroeconomic growth which was drawing investors to the region.
44% of respondents were also in favour of the upstream or the midstream sectors for the best return on investment.
DBS analyst Ho Pei Hwa observed that the increased PE activity would make the upstream O&G segment more attractive to investors “if one believes that oil prices will recover further”.
“However, we would like to see more non-PE driven M&A activity, especially in the services segment, as that would more likely help spark a rationalisation of assets and capacity,” she writes in a note on Monday.
Alam can sell the vessels as besi buruk and the proceeds/share will be higher than current market price. BUY Alam. Listen to analysts, believe your judgement...
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....
i_investor
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Posted by i_investor > 2016-06-02 15:02 | Report Abuse
Alam Maritim Bags $6.8M PETRONAS' Subcontract for PFLNG1 Facility