Maybank IB remain positive on O&G services


Dateline 2014-08-05, The Sun Daily:

Maybank IB Research has maintained its overweight call on the oil and gas (O&G) services sector following a roadshow in July when it had discussions with fund managers from Malaysia, Singapore and Hong Kong. “We remain overall positive on the O&G services sector. We like KNM for its direct exposure to Refinery And Petrochemical Integrated Development (Rapid). Securing Rapid projects would lift our earnings and target price by up to 50%. Getting the Peterborough waste-to-energy project off the ground in Q4 2014 could drive further interest and re-rate the stock further,” it said in its research note yesterday. For OSV exposure, its top picks are Perdana Petroleum and Ezion, while UMW OG and Yinson are its top picks for jack-up rigs and FPSOs respectively. Nam Cheong and Vard are its preferred stocks in shipbuilding while SILK and Coastal Contracts are interesting from the perspective of value and earnings growth potential. …

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