AMRESEARCH MAINTAINS SAPURAKENCANA FY14-FY16 EARNINGS FORECAST, EXPECTS MORE JOBS TO COME

12 Jul 2013 11:19

KUALA LUMPUR, July 10 (Bernama) -- AmResearch maintained SapuraKencana Petroleum Bhd's financial year 2014 to financial year 2016 earnings forecast on expectations the group will secure new jobs over the next few months.

AmResearch said the job expectations include the over RM1 billion Semarang Central Processing Platforms (CPPs), one of 10 CPPs which are expected to be tendered out over the next one to two years.

Besides the CPPs, SapuraKencana is actively looking at tendering for some of the large production blocks of US-based Newfield Exploration Co, which has indicated its intention to dispose its non-US-based assets worth RM5.4 billion.

It said the bid to be submitted next Monday, if successful, would further integrate and value-add to SapuraKencana's upstream operations to become an even more formidable player in the sector.

It said the company has secured RM9.8 billion new orders since beginning of the year, raising its order book value to RM26.5 billion, doubled its nearest peers Bumi Armada Bhd, which has outstanding orders worth RM12 billion.

The research house has maintained "buy" call on SapuraKencana, with an unchanged fair value of RM4.65.

-- BERNAMA

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