Stock Name: MSC
Company Name: MALAYSIA SMELTING CORPORATION
MISC Bhd's shares rose 3.88 per cent or 20 sen to RM5.35 as at 4.30pm today, following a report that it is one of the front runners, beside Bumi Armada, to bag the floating production, storage and offloading vessel supply contract to be awarded by US-based oil and gas firm Hess Corp.
Based on the report in a business weekly, MISC has joined hands with Malaysian offshore oil and gas firm Ramunia Holdings Bhd to bid for the three-year contract for an Aframax size vessel, between 75,000 and 115,000 deadweight tonnes, for development of the North Malay Basin.
"It should be announced soon, the latest by the end of this month, if Hess wants the job to start by year-end," the paper quoted an oil and gas official as saying.
Meanwhile, RHB Research has lifted MISC to "trading buy" from "market perform", raising its fair value on the national shipping corporation to RM6.12 a share from RM5.70 previously.
"We believe MISC is a good proxy play to the strong possibility of a sooner-than-expected recovery in the global shipping sector on the back of the current brutal, disorderly and furious consolidation," it said in a research note. -- Bernama
Company Name: MALAYSIA SMELTING CORPORATION
| Research House: RHB | Price Call: BUY | Target Price: 6.12 |
MISC Bhd's shares rose 3.88 per cent or 20 sen to RM5.35 as at 4.30pm today, following a report that it is one of the front runners, beside Bumi Armada, to bag the floating production, storage and offloading vessel supply contract to be awarded by US-based oil and gas firm Hess Corp.
Based on the report in a business weekly, MISC has joined hands with Malaysian offshore oil and gas firm Ramunia Holdings Bhd to bid for the three-year contract for an Aframax size vessel, between 75,000 and 115,000 deadweight tonnes, for development of the North Malay Basin.
"It should be announced soon, the latest by the end of this month, if Hess wants the job to start by year-end," the paper quoted an oil and gas official as saying.
Meanwhile, RHB Research has lifted MISC to "trading buy" from "market perform", raising its fair value on the national shipping corporation to RM6.12 a share from RM5.70 previously.
"We believe MISC is a good proxy play to the strong possibility of a sooner-than-expected recovery in the global shipping sector on the back of the current brutal, disorderly and furious consolidation," it said in a research note. -- Bernama
CONFUSE, IT IS MISC OR MSC?
ReplyDeleteyes, confuse, MISC or MSC, to be more accurate please give the stock No, Thx
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