Dialog share price eases to RM2.37

Dialog Group Bhd's share price eased one sen or 0.42 per cent to RM2.37
as at 3.08 pm today amid news that its Jubail supply base in Saudi
Arabia has commenced operations. A total of 20,270 shares were traded
during this session.



HwangDBS Vickers Research said it expects earnings contribution to be minimal given the early stage of the operations there.



"Nevertheless, we are positive that Dialog's ownership of the
Jubail supply base will boost its long-term prospects with recurring
income once the operations go into full swing," it said in a research
note.



Dialog secured a leased land to be developed into a Jubail supply
base for 25 years via its 60 per cent held subsidiary in August 2009
from the Saudi Ports Authority.




The offshore supply base serves as a one-stop
integrated offshore logistics hub and resources centre for oilfield
services, equipment and supplies, as well as support the active and
growing offshore oil and gas activities in the Arabian

gulf.



Meanwhile, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 0.06 of a point to 1,576.17 as at 3.08 pm. -- Bernama