Dialog climbs to fresh highs, investors upbeat on prospects

KUALA LUMPUR: Shares of DIALOG GROUP BHD [] climbed to fresh highs of RM2.73 in late afternoon trade on Thursday, May 12 as investors were upbeat about its prospects.
At 4pm, Dialog was up three sen to Rm2.73 with 12.71 million shares done.
The FBM KLCI fell 1.88 points to 1,534.15. Turnover was 696.86
million shares valued at RM956.51 million. There were 250 gainers versus
447 losers and 279 stocks unchanged.
Petroliam Nasional Bhd is reported to be investing up to RM50 billion
in new integrated downstream project to expand its business and further
spur the growth of Malaysia’s oil and gas downstream sector.
The signing ceremony is expected to be done on Friday.
Then project would likely be the independent deepwater petroleum
terminal project at Pengerang, Johor which is jointly undertaken by
Dialog and Vopak.
Dialog and Vopak’s combined investment in the terminal would be RM5
billion and over a seven year period. Dialog’s investment would be
RM2.5b of which 30% would be from equity and 70% from project financing.
Dialog and Vopak are the core facilitators for the project, which is
viewed as an entry point project (EPP) under the government’s Economic
Transformation Policy (ETP).
There are tremendous spinoffs opportunities from the Pengarang project and attract combined investments of another RM95 billion.