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CIMB Research maintains Outperform on O&G equipment and services
by hlk Tue 07 May 2013, 08:29
Business & Markets 2013
Written by theedgemalaysia.com
Tuesday, 07 May 2013 07:41
A + / A - / Reset
KUALA LUMPUR (May 7): CIMB Research has maintained its
Outperform rating on the oil and gas (O&G) equipment and services
sector and said that Upstream, an international oil & gas newspaper,
had reported that Petronas has made a deepwater gas discovery at
Block CA-2 off the coast of Brunei.
In a note May 6, CIMB Research analyst Norziana Mohd Inon said the
find marked Petronas's triumphant return to Brunei after a 1-year hiatus
and fit well with the country’s potential LNG feedstock demand.
She said Barisan National's win in the elections augured well for the
sector, which was the biggest beneficiary of Malaysia’s Economic
Transformation Programme.
“Petronas should continue with its huge capex, benefitting local service
providers and providing sector catalysts.
“The sector remains a high-conviction Overweight, with our top picks being Petronas Dagangan (big cap) and Perisai (small
cap),” she said
Written by theedgemalaysia.com
Tuesday, 07 May 2013 07:41
A + / A - / Reset
KUALA LUMPUR (May 7): CIMB Research has maintained its
Outperform rating on the oil and gas (O&G) equipment and services
sector and said that Upstream, an international oil & gas newspaper,
had reported that Petronas has made a deepwater gas discovery at
Block CA-2 off the coast of Brunei.
In a note May 6, CIMB Research analyst Norziana Mohd Inon said the
find marked Petronas's triumphant return to Brunei after a 1-year hiatus
and fit well with the country’s potential LNG feedstock demand.
She said Barisan National's win in the elections augured well for the
sector, which was the biggest beneficiary of Malaysia’s Economic
Transformation Programme.
“Petronas should continue with its huge capex, benefitting local service
providers and providing sector catalysts.
“The sector remains a high-conviction Overweight, with our top picks being Petronas Dagangan (big cap) and Perisai (small
cap),” she said
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