Of course, we didn’t expect PETRONAS to list any of their star entities. My comments: Can someone tell me if MMHE is the preferred fabricator of choice, esp for deep water structures? As for the Petrochemical entity, I expect profits to drop once PETRONAS Gas goes ahead and finds the guts to revise gas prices.
Now, if they listed PETRONAS Carigali Sdn Bhd, Putrajaya Holdings, PETRONAS NGV, Institute Teknologi Petroleum PETRONAS, these would be game changers.
Dateline 2010-04-09:
KUALA LUMPUR: The proposed listing of Petroliam Nasional Bhd’s (Petronas) petroleum chemicals business and its heavy engineering arm will bring about a potential rerating of O&G supporting companies, says OSK Research.
The research house said on Friday, April 9 that currently, the O&G sector is trading at an attractive average PER of 13x FY10 EPS and 11x FY11 EPS.
“We believe that if Petronas floats these 2 businesses at a higher PER valuation, this would bring about a potential rerating of O&G supporting companies, some of which are still trading at single digit valuations due to the nature of their business and the lack of excitement in the sector,” OSK Research added.
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Posted by Wata 
Wata - Malaysian Oil and Gas Engineer 