Stock Name: TGOFFS
Company Name: TANJUNG OFFSHORE BHD
Secures a 5-year contract extension for maintenance works. This job, worth RM43m spread over 5 years, is operationally positive but small in value and hence, is financially neutral. No change to our forecasts. Ekuinas' potential corporate exercise involving TOFF could be a catalyst. Reiterate Buy with an unchanged RM0.98, based on 0.8x book.
Maybank research (1 December 2011)
Click here for full report
Company Name: TANJUNG OFFSHORE BHD
| Research House: MAYBANK | Price Call: BUY | Target Price: 0.98 |
Secures a 5-year contract extension for maintenance works. This job, worth RM43m spread over 5 years, is operationally positive but small in value and hence, is financially neutral. No change to our forecasts. Ekuinas' potential corporate exercise involving TOFF could be a catalyst. Reiterate Buy with an unchanged RM0.98, based on 0.8x book.
Maybank research (1 December 2011)
Click here for full report
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