Stock Name: PERISAI
Company Name: PERISAI PETROLEUM TEKNOLOGI
Perisai Petroleum Teknologi Bhd (Perisai) is expected to see an explosive growth in its financial year of 2012 (FY12) with 100 per cent fleet utilisation and potential earnings enhancement from asset acquisition, says HwangDBS Vickers Research.
In a research note today, HwangDBS said the completion of Perisai's mobile offshore production unit (MOPU)'s acquisition in January will more than double its earning to RM85 million in the year.
There could be earnings accretion from the transfer of ownership of Intan's Offshore Sdn Bhd's vessel to a Labuan-registered company which expected to be completed by third quarter this year, it said.
It also noted that Perisai is looking at marine assets worth at least US$100 million, as early as the second half of this year, to mark its entry into the less-competitive market.
Given this, the research house is maintaining its "buy" call on Perisai with a target price of RM1.20. -- Bernama
Company Name: PERISAI PETROLEUM TEKNOLOGI
| Research House: HWANGDBS | Price Call: BUY | Target Price: 1.20 |
Perisai Petroleum Teknologi Bhd (Perisai) is expected to see an explosive growth in its financial year of 2012 (FY12) with 100 per cent fleet utilisation and potential earnings enhancement from asset acquisition, says HwangDBS Vickers Research.
In a research note today, HwangDBS said the completion of Perisai's mobile offshore production unit (MOPU)'s acquisition in January will more than double its earning to RM85 million in the year.
There could be earnings accretion from the transfer of ownership of Intan's Offshore Sdn Bhd's vessel to a Labuan-registered company which expected to be completed by third quarter this year, it said.
It also noted that Perisai is looking at marine assets worth at least US$100 million, as early as the second half of this year, to mark its entry into the less-competitive market.
Given this, the research house is maintaining its "buy" call on Perisai with a target price of RM1.20. -- Bernama
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