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RHB Research maintains Buy on SapuraKencana Petroleum, fair value RM4.96

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RHB Research maintains Buy on SapuraKencana Petroleum, fair value RM4.96 Empty RHB Research maintains Buy on SapuraKencana Petroleum, fair value RM4.96

Post by Cals Wed 10 Jul 2013, 08:49


RHB Research maintains Buy on SapuraKencana Petroleum, fair value RM4.96
Business & Markets 2013
Written by theedgemalaysia.com
Wednesday, 10 July 2013 08:45

KUALA LUMPUR (July 10): RHB Research has maintained its Buy rating on SapuraKENCANA PETROLEUM BHD [] at RM4.02 with a fair value of RM4.96 after the company announced that it had secured a letter of award from Trans Thai-Malaysia to provide engineering, procurement, CONSTRUCTION [], installation and commissioning (EPCIC) services to the latter’s JDA Gas Balancing Evacuation Project.

In a note Wednesday, the research house said it was positive on the USD180.7 million contract but made no changes to our earnings estimates.

“Maintain Buy, with our fair value unchanged at RM4.96, pegged to 22x FY15 EPS,” it said.
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