Last Thursday 129.5mil shares had been collected at average 93sen exchange hand. Oil n gas is seasonal trade, Q418 result due to monsoon season less off shore maintenance work. For next 3 years maintenance job of Rm1bil project awarded by Petronas, this biz is very sustainable for mid to long term goal. Expected next qtr result will hit beyond 5sen+ and toward 10sen+ soon.
It wasn't just Carimin. Naim, Perdana, Sapura, T7Global, Azrb etc. O&G was down today despite Brent rising. Case in point Hibiscus should have been up but not.
1. The new owner of Cuscapi is the same team of pioneer that brought MYEG from scratch to a billion ringgit company. MYEG 2008 is 200 million company. 10 years later is 4.5 billion company
2. Solid top management from pioneering team of MYEG Same pioneering management go to Cuscapi to make cuscapi great again
3. New management cost of share if higher than current share price Ordinary share issuance is 25 cents warrant 8 cents + exercise price 27 cents = 35 cents (fully converted) Now is more than 10% below their buying price
4. Entry of new market Following myeg footstep to enter to bangladash market population 160 million, means market is 5 times larger than Malaysia
For the O&G Services sector, Carimin is a safe bet better than Dayang or Petra. Dayang may impair the Rm 650 M under their Goodwill asset. Petra has Bustari (Shorefield Resources) as co-owner whose Pan Borneo Highway project was just taken away by Putrajaya today
The RAPID Pengerang project that had employed some 70,000 workers is not yet completed and likely to be commissioned in the 3rd qtr of this gear. Revenue from Hookup n Commissioning will continue to grow. This USD 27 B. project is the only megaproject left to generate economic activity for Malaysia (thanks to the deep pockets of Saudi Arabia and Petronas). All other megaprojects like MRT, LRT, ECRL, HSR, etc by Malaysia Inc are all cold turkey. Today, Borneo Highway project has just joined them in the freezer.
WTI Crude oil prices has broke USD 60/bbl and Brent oil is trending towards USD 70/bbl and you are wondering whether to buy an Airline, a property or a bank?
Stick to O n G as it is the only good business left n Malaysia.
Penergy is nothing compare to Dayang....trust me..Dayang is the leader. She has been in the market for nearly 40 years. She has come out from red to black. Penergy is still struggling. So did Carimin.
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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....
yc123
118 posts
Posted by yc123 > 2019-03-18 10:14 | Report Abuse
on the way