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NewsM & A Securities maintains buy on Alam Maritim, fair value RM1.13
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M & A Securities maintains buy on Alam Maritim, fair value RM1.13
by Cals Tue 09 Apr 2013, 09:02
M & A Securities maintains buy on Alam Maritim, fair value RM1.13
Business & Markets 2013
Written by theedgemalaysia.com
Tuesday, 09 April 2013 08:46
A + / A - / Reset
KUALA LUMPUR (April 9): M & A Securities has maintained its Buy rating on ALAM MARITIM RESOURCES BHD [] with a fair value of RM1.13 after the company’s wholly owned subsidiary, Alam Maritim (M) Sdn Bhd, has secured two contracts with a combined value of RM85.2 million.
Alam Maritim said these contracts included a letter of award from Petronas Carigali Sdn Bhd for the provision of an accommodation vessel for a primary period of five years, with an optional extension for another one year.
Valued at around RM61.32 million, this contract commenced on March 11, 2013.
“We maintain our BUY call on Alam Maritim and Fair Value at RM1.13 by pegging its EPSFY13F of 9.4 sen to P/E multiple of 12x.
“We remain positive on Alam Maritim’s ability to boost its orderbook further,” said M & A Securities in a note Tuesday.
Business & Markets 2013
Written by theedgemalaysia.com
Tuesday, 09 April 2013 08:46
A + / A - / Reset
KUALA LUMPUR (April 9): M & A Securities has maintained its Buy rating on ALAM MARITIM RESOURCES BHD [] with a fair value of RM1.13 after the company’s wholly owned subsidiary, Alam Maritim (M) Sdn Bhd, has secured two contracts with a combined value of RM85.2 million.
Alam Maritim said these contracts included a letter of award from Petronas Carigali Sdn Bhd for the provision of an accommodation vessel for a primary period of five years, with an optional extension for another one year.
Valued at around RM61.32 million, this contract commenced on March 11, 2013.
“We maintain our BUY call on Alam Maritim and Fair Value at RM1.13 by pegging its EPSFY13F of 9.4 sen to P/E multiple of 12x.
“We remain positive on Alam Maritim’s ability to boost its orderbook further,” said M & A Securities in a note Tuesday.
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