Do not worry abt TP as it was before Quek bought in.The scenario changes and this TP cannot be used as a guide.Also the RSC contract and if Scomies got it then the price will fly.
Scomi Energy Reports RM31.4 Million Pre-tax Profit For Q3
KUALA LUMPUR, Feb 19 (Bernama) -- Scomi Energy Services Bhd has reported a pre-tax profit of RM31.4 million for the third quarter ended Dec 31, 2014.
It recorded a revenue of RM391.8 million for the quarter, it said in a filing to Bursa Malaysia here Wednesday.
Scomi Energy had on July 31, 2013 changed its financial year-end from Dec 31 to March 31.
It said the comparatives in the notes to the financial statements of the group and the company for the period were not comparable.
The company said its performance was largely driven by the strong performance of its oilfield services division while its marine services division recorded an increase in revenue, boosted by the commencement of a new bulk coal carriage contract during the quarter.
Its Chief Executive Officer, Shah Hakim Zain, said the group's biggest contributors to its continued top line growth for the quarter were Indonesia, Malaysia, Myanmar, Thailand and West Africa.
Temporary drop only. Speculators sell on T+3,normal profit taking only, after recent spike in prices. Just wait for a few months prices will go up toRM1.5 to RM2.00 and beyond. New Major investor- QLC of HLG bring good prospects - more bigger projects= higher profits=higher share prices in the near future. Strong Financial backing of HL Bank, reputation of QLC and HLG will boost SCOMIES all the way. Invest not speculate only you will be well rewarded.
With proven excellent track record of HLG, Scomies will benefit from the management expertise and good practices to turn it into a highly profitable group soon. Hence very good potential for Scomies in the near future from the contract to come from petronas = share price should be over RM1.50 - 2.00 before year end.
Its still cheap price to go in.Very good future potential especially Petronas RSC contract.If not Quek LC and Noges will not purchase the shares.Have faith in Scomies.
why, if HLIB analyst is covering the stock, he should have given the stock a BUY CALL, not HOLD, he should help Quek to goreng this stock instead, am I right?
New management under HLG means higher efficiency and effectiveness translating into higher profits later. This results in increasing share value.This includes current ongoing jobs , profitability of business depends on good corporate governance and good management practices. Investors who knows QLC's track record in consistently achieving high profitability for the HLG, have great confidence in the turnaround of Scomies' fortunes in the near future. The dismal performance of Scomies under the past management will be history soon and if you are patient enough, you will reap a bountiful harvest before end of the year. If QLC is investing so much money in this company, he / his advisers must have done their homework and have plans to improve the profits. Just look at the share price of THHeavy after he bought a substantial stake.
The market has weeded out the weak holders/ speculators who sold out over the last two weeks. Next week these people will be chasing the shares (possibly buying back at RM1.10 -1.15 or higher) when it keep going up - simply because there will be no more (or very little) selling left, and more longer term investors start buying.
About the target prices of Analysts - sometimes savvy investors know better about certain companies than them. a very recent example is the target price set by an IB analyst for Air Asia at RM2.40 - immediately the market prove them wrong- the price shot up with high volume to 2.50 and higher on the same day!!! I think the same applies to Scomies - that HLB analyst has a "Blinkered vision" and based his analysis on the financial data provided by the old management without considering the potential turnaround by the new management. Perhaps its too early to do that. Just wait for the next quarter and see the difference.
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....
daryltkt
675 posts
Posted by daryltkt > 2014-02-18 05:52 | Report Abuse
Do not worry abt TP as it was before Quek bought in.The scenario changes and this TP cannot be used as a guide.Also the RSC contract and if Scomies got it then the price will fly.