Carimin Petroleum Bhd expects to resume expansion works on its fabrication yard in Kemaman, Terengganu after delaying the project for the last four years.
Carimin managing director Mokhtar Hashim said it had submitted the design of the fabrication yard to the local authority for approval last month.
“We have revisited that proposal (for the yard expansion). The design has been completed and submitted to the local council for approval last month.
It’s just seasonal IF it happens. It would not lead to any indication of earnings prospect. It is absurd to use seasonal factor and it should have already been priced in. The important things for share price rally are contracts rollout (the higher petronas capex, the more jobs to be rollouts), higher DCR and undervalued!
Carimin had proven its strong growth and performance in this QR with historical high net profits and future prospects also show very positive with the whole O&G sector.
Overheard at lunch that a respected, responsible IB may have alerted SC on activities suspected on this counter.. if I can afford it I will lift price to hang them up to dry.
Petronas outlook stated that HUC activities was far higher than budgeted in 2019. Therefore in 2020, the activity could be lower as they have overspent in 2019. Better go BUY for established one like Dayang.
Aiyo come here promote dayang?dayang now start to dying...total correction like others energy counter...I in Carimin at 1.10 and wait until february lo
Posted by teoct > Dec 16, 2019 11:18 AM | Report Abuse
Petronas Activity Outlook 2020-2022 is out. This can be downloaded at Petronas-media site.
Page 57 indicated that for 2019, MCM planned manhours (mhrs) was 17.7 m mhrs while actual came in at 15.2 m mhrs (this is the first time Outlook included actual figures). Base on 15.2 m mhrs, already all the three companies had much improved performance.
Now for 2020, the planned mhrs is 18.9 m (previous 2019-2021 outlook for 2020 was 17.6 m mhrs, thus a 7.4% increase). Imagine next year what would be the performance - much better than 2019 for sure IMHO.
And this is MCM only, I have not looked at HUC etc.
Kenanga Investment Bank Bhd Research has maintained its "Neutral" call on the oil and gas sector, noting that it is positive on the Activity Outlook for 2020-2022 by Petronas and feels comforted that upstream activities would continue to stay elevated from the surge in 2019.
Big winners from Petronas' Activity Outlook. Among them are fabricators (e.g: MHB, SAPNRG), which will benefit from the surge in numbers of wellhead platforms (WHPs).
Based on the Activity Outlook, Kenanga Research said marine vessel providers (e.g: PERDANA, ALAM, ICON, COASTAL) will benefit from the huge rise in demand for offshore support vessels (OSVs).
Kenanga Research also highlighted that offshore players (e.g: DAYANG, CARIMIN) will continue to enjoy increased maintenance, construction and modification work orders.
"Meanwhile, VELESTO whose rig fleet are currently fully chartered out, is expected to continue to enjoy high utilisation rates amidst sustained drilling rig demand,"
Many investors have probably gone on holiday so not much excitement............can put some money on Carimin’s number, 5257 ha, ha, ha. Merry Christmas & Happy New Year all. Let’s zoom in 2020.!!!!!!!
lucky number to win 4d? But I think the recent price stagnant might because of someone who tries to goreng Dayang and press down the price on other peers.
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....
dusti
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Posted by dusti > 2019-11-29 10:30 | Report Abuse
Thanks OTB. The cheapest share with a 3 sen dividend; sustainable?