Malaysia’s energy shares rout yet to hit bottom


Yeah, baby. Someone let me know when I can buy shares lots with the money in my pocket.

Dateline 2015-04-19, Malay Mail Online:

Investors looking for bargains among Malaysia’s tumbling energy stocks say it’s too early to buy as oil’s slide to a six-year low pummels an industry that accounts for about a fifth of the nation’s exports.

SapuraKencana Petroleum Bhd, the country’s biggest oil and gas services company, has tumbled 46 per cent in Kuala Lumpur trading in the past 12 months as peers Bumi Armada Bhd and UMW Oil & Gas Corp both lost at least 48 per cent. Analysts have cut recommendations on the stocks to the lowest levels since at least 2013, while Malaysia’s state energy company announced spending cuts of as much as US$8.1 billion (RM29.78b) last month.

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This entry was posted on Thursday, April 30th, 2015 at 6:24 am and is filed under 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.

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