Oil and gas sector propelling into another year of overdrive


Really? No slowdown in contracts?

Dateline 2014-01-08, Borneo Post:

On the back of booming 2013, the research arm of Kenanga Investment Bank Bhd (Kenanga Research) believes that the oil and gas sector will continue to be on overdrive in 2014.

The research arm pointed out that the overall sector did spectacularly well in 2013 with stocks under its coverage gaining an average of 75 per cent on a year to date (YTD) basis.

“The significant share price gains are no surprise as around RM30 billion of domestic contracts (inclusive of international wins, the total rise to RM43.3 billion) were dished out in 2013, which is a far cry from the circa RM10 billion contract wins in 2012,” it opined.

Despite significant share price appreciations, Kenanga Research expects further gains as it believes there are still ample project awards in 2014 to act as catalysts.

In addition there will likely be no slowdown in contracts flow this year.

…

 

This entry was posted on Tuesday, February 18th, 2014 at 6:00 am and is filed under investment, Malaysia, oil and gas. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

Leave a comment