♦ Naga One contract gets extended. The company announced yesterday
that its 85%-owned Naga One Semisubmersible rig (semisub) contract with
Petronas Carigali S/B (PSCB) has been extended for another 5 years at a
total contract value of US$250m (RM770m). The previous contract (signed
in Jun-06) for twenty firm wells is expected to be completed by end of
2010, while the new one has yet to stipulate the number of new wells.
UMW Holdings Berhad : Naga 1 Gets Extended - 05/10/2010
Showing posts with label UMW Holdings. Show all posts
Showing posts with label UMW Holdings. Show all posts
Tuesday, October 5, 2010
Monday, August 23, 2010
UMW Holdings Berhad : Maintaining Its Strong Hold in 2Q - 23/08/2010
♦ Results largely in line with our and above consensus full-year expectations. 6MFY10 net profit of RM344.6m achieved 55% of our fullyear estimates and 63.5% of consensus mainly due to the improved sales of the automotive (+32.5%) and equipment (+29.9%) divisions.
UMW Holdings Berhad : Maintaining Its Strong Hold in 2Q - 23/08/2010
UMW Holdings Berhad : Maintaining Its Strong Hold in 2Q - 23/08/2010
Wednesday, August 18, 2010
UMW Holdings Berhad : Letter of Award for Naga 2 - 18/08/2010
♦ Naga Two wins LOA. UMW announced yesterday that they had received a Letter of Award (LOA) for the services of Naga 2 valued at US$183.12m (RM578.5m) for an estimated period of 1,355 days (~ 3.7-years) from HESS for the Indonesia Pangkah project. The contract is expected to commence in the first week of September 2010, although management stated that a contract has not been signed off as yet.
UMW Holdings Berhad : Letter of Award for Naga 2 - 18/08/2010
UMW Holdings Berhad : Letter of Award for Naga 2 - 18/08/2010
Friday, May 21, 2010
Corporate Highlights - 21/5/2010
♦ Market Momentum
Market Update : Pick And Choose
♦ Oil & Gas
Sector Update : Fabricators To Ride On Stronger Contract Flows In 2H10
♦ Axiata
Results Preview : Likely To Report Strong 1Q10 Performance
♦ CIMB Group
Results / Briefing Note : Off To A Good Start
♦ UMW Holdings
Results Note : Sustaining Strong Hold in 1Q10
♦ Kossan Rubber Industries
Results Note : No Surprises
Corporate Highlights - 21/5/2010
Market Update : Pick And Choose
♦ Oil & Gas
Sector Update : Fabricators To Ride On Stronger Contract Flows In 2H10
♦ Axiata
Results Preview : Likely To Report Strong 1Q10 Performance
♦ CIMB Group
Results / Briefing Note : Off To A Good Start
♦ UMW Holdings
Results Note : Sustaining Strong Hold in 1Q10
♦ Kossan Rubber Industries
Results Note : No Surprises
Corporate Highlights - 21/5/2010
UMW Holdings Berhad : Sustaining Strong Hold in 1Q10 - 21/5/2010
1QFY12/10 results. 1QFY12/10 results were largely in line with our and market expectations, accounting for 21.4% and 24.7% of our full-year forecast and market consensus respectively. 1Q revenue was up 2.1% qoq mainly driven by stronger contribution from heavy and industrial equipment division (+26.1% qoq). Coupled with stronger associate contribution stemming from stronger unit sales of Perodua (+24.4% qoq), 1QFY12/10 net profit growth accelerated from -0.5% qoq (at EBIT) to 16.0% qoq.
UMW Holdings Berhad : Sustaining Strong Hold in 1Q10 - 21/5/2010
UMW Holdings Berhad : Sustaining Strong Hold in 1Q10 - 21/5/2010
RHB Equity 360° - 21 May 2010 (Market, O&G, Axiata, Hai-O, CIMB, UMW, Kossan; Technical: AirAsia)
Market Update
- We do not see much good news in the near term and Malaysia appears caught in a downdraft of fear sparked off by global macroeconomic concerns. The risk of more downside is thus likely to be greater than the potential for upside.
- Clearly, losers from the strong ringgit have been among the hardest hit, including resources (plantations, oil & gas and timber), semiconductor, rubber gloves and steel. The GLCs and M&A plays could also slip further if confidence continues to falter.
- If the FBM KLCI falls as expected by RHBRI’s technical research to the next support level of 1,229, i.e. 6% lower than current levels, last seen in Oct 2009, 2010-2011 PERs would fall to 14.0x and 12.2x respectively, from 15.1x and 13.1x currently. We thus see value re-emerging.
- We believe the long-term picture is still intact with sustained economic and corporate earnings growth. We expect the Government to push forward with liberalisation policies and reduction of subsidies later. M&A activities are likely to continue in the industrial space, as well as banks and insurance. In addition, we
expect Malaysian corporates to look overseas for new growth opportunities, and especially given their pricing power have improved with the stronger ringgit.
- Under current volatile market conditions, we highlight that this is an opportunity to pick and choose stocks, especially those that have fallen hard in the last month such as Notion, Daibochi, Evergreen and Unisem.
RHB Equity 360° - 21 May 2010 (Market, O&G, Axiata, Hai-O, CIMB, UMW, Kossan; Technical: AirAsia)
- We do not see much good news in the near term and Malaysia appears caught in a downdraft of fear sparked off by global macroeconomic concerns. The risk of more downside is thus likely to be greater than the potential for upside.
- Clearly, losers from the strong ringgit have been among the hardest hit, including resources (plantations, oil & gas and timber), semiconductor, rubber gloves and steel. The GLCs and M&A plays could also slip further if confidence continues to falter.
- If the FBM KLCI falls as expected by RHBRI’s technical research to the next support level of 1,229, i.e. 6% lower than current levels, last seen in Oct 2009, 2010-2011 PERs would fall to 14.0x and 12.2x respectively, from 15.1x and 13.1x currently. We thus see value re-emerging.
- We believe the long-term picture is still intact with sustained economic and corporate earnings growth. We expect the Government to push forward with liberalisation policies and reduction of subsidies later. M&A activities are likely to continue in the industrial space, as well as banks and insurance. In addition, we
expect Malaysian corporates to look overseas for new growth opportunities, and especially given their pricing power have improved with the stronger ringgit.
- Under current volatile market conditions, we highlight that this is an opportunity to pick and choose stocks, especially those that have fallen hard in the last month such as Notion, Daibochi, Evergreen and Unisem.
RHB Equity 360° - 21 May 2010 (Market, O&G, Axiata, Hai-O, CIMB, UMW, Kossan; Technical: AirAsia)