With Tabung Haji continue to dump its shares (balance 37,000 lots @ 24/7/13), it is unlikely the share price of Muhibah will move much. Look at the share price of KSL, when the last quarterly results was announced, its share price went up to RM2.40 but eventually fell to about RM1.90 thanks to Tabung Haji. With the smaller investors picking up the ruins, the share price of KSL is hovering around RM2.05.
6:04PM Lembaga Tabung Haji (2,000,000 Shares Disposed) 6:04PM JPMorgan Chase & Co (20,926,100 Shares Acquired) 6:04PM Ooi Sen Eng (70,000 Shares Disposed) 2:21PM MUHIBAH-EMPLOYEES' SHARE OPTION SCHEME ("SCHEME")
Thursday, 25 Jul 2013
5:35PM Lembaga Tabung Haji (1,422,100 Shares Disposed) 5:34PM Low Ping Lin (880,000 Shares Transacted)
Wednesday, 24 Jul 2013
6:53PM Mac Ngan Boon @ Mac Yin Boon (900,000 Shares Acquired) 6:53PM Mac Ngan Boon @ Mac Yin Boon (900,000 Shares Acquired)
Monday, 22 Jul 2013
5:52PM Lembaga Tabung Haji (593,300 Shares Acquired) 5:51PM Low Ping Lin (247,100 Shares Disposed)
Friday, 19 Jul 2013
5:24PM Mac Ngan Boon @ Mac Yin Boon (233,000 Shares Acquired) 4:42PM MUHIBAH-EMPLOYEES' SHARE OPTION SCHEME ("SCHEME") 12:47PM Ooi Sen Eng (850,000 Shares Transacted)
Thursday, 18 Jul 2013
6:11PM Ooi Sen Eng (300,000 Shares Disposed) 6:10PM Low Ping Lin (652,900 Shares Disposed)
Amresearch : In our opinion, a delay in the commencement of such a massive downstream project is not unusual, given the infrastructural constraints and relocation programmes, even though the government planned to fast-track the development due to the positive economic spillover impact to the Johor state.
- Among the listed companies, only Dialog Group is currently directly involved in the Pengerang development via its RM1.9bil Phase 1 independent deepwater tank terminal, which is slated to be commissioned by 2Q2014. The other companies hoping to secure engineering, procurement and construction contracts from RAPID include Muhibbah Engineering, Malaysia Marine & Heavy Engineering, SapuraKencana Petroleum and TH Heavy Engineering. Petronas Gas was hoping to be involved in the LNG regassification terminal while RAPID’s petrochemical facilities were to be undertaken by Petronas Chemicals.
- We would not be surprised if the share prices of these companies suffered a temporary weakness due to this negative newsflow. But the upward momentum for the upstream projects’ rollout is still intact. Recall that the oil & gas orders for local players in 2Q2013 orders surged 3.8x QoQ to RM16bil from the umbrella hook-up & commissioning contracts and Petrobras’ charter for 3 new flexible pipe-lay support vessels to SapuraKencana.
- In the short- to medium-term, excitement in the sector will still largely stem from the larger field projects in Malaysia such as the enhanced-oil recovery projects and gas cluster developments for the North Malay basin, as well as in Sabah and Sarawak which are tied to the completion of the Bintulu LNG complex expansion in 2015. Also, the RAPID project is only being delayed, not aborted. Hence, any pullback in share prices offer opportunities for investors to accumulate at more attractive valuations. Our top pick for the sector is SapuraKencana Petroleum while our other BUYs are Alam Maritim, Dialog Group and Petronas Gas.
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....
lching
1,402 posts
Posted by lching > 2013-07-25 12:24 | Report Abuse
muhibah.....muhibah.....muhibah....