SerendipityStockPick
liked
(Kuala Lumpur, 8th) Maybank Investment Bank forecasts that with the increasing likelihood of Petroliam Nasional Berhad (Petronas) potentially cutting capital expenditures by 2025, Malaysia's oil & gas industry may face the risk of rating downgrades.
The investment bank stated that the potential cuts in capital expenditures may delay Petroleum Exploration and Production (E&P) projects, consequently leading to a slowdown in Oil & Gas Services and Equipment (OGSE) companies growth.
Therefore, Maybank Investment Bank favors defensive stocks more, especially midstream businesses and Floating Production Storage and Offloading (FPSO) related companies, while advising investors to avoid the petrochemical sector in 2025.
In addition, the investment bank has also lowered the target price-to-earnings ratio of all oil and gas stocks it covers, from the current 12 times to 10 times, which will result in a decrease in target prices for each stock.
In a report on Tuesday, Maybank Investment Bank stated that potential capital expenditure cuts by Petroliam Nasional Berhad (Petronas) may delay upstream exploration and production projects, leading to a slowdown in the growth of OGSE companies.
300 billion capital expenditure may fall short of the target.
This phenomenon is related to the transfer of control over Sarawak's natural gas resources from Petroliam Nasional Berhad to Sarawak's Petroleum Company (Petros), impacting the national oil company's revenue sources and free cash flow.
"Although we cannot quantify the impact, we believe that Petroliam Nasional Berhad (Petronas) may postpone capital expenditures as some of its trade revenue may have been lost."
The report points out that the past revenue of local Oil, Gas and Support Services (OGSE) companies has been highly correlated with Petronas' capital expenditure.
"For example, in the 20...
The investment bank stated that the potential cuts in capital expenditures may delay Petroleum Exploration and Production (E&P) projects, consequently leading to a slowdown in Oil & Gas Services and Equipment (OGSE) companies growth.
Therefore, Maybank Investment Bank favors defensive stocks more, especially midstream businesses and Floating Production Storage and Offloading (FPSO) related companies, while advising investors to avoid the petrochemical sector in 2025.
In addition, the investment bank has also lowered the target price-to-earnings ratio of all oil and gas stocks it covers, from the current 12 times to 10 times, which will result in a decrease in target prices for each stock.
In a report on Tuesday, Maybank Investment Bank stated that potential capital expenditure cuts by Petroliam Nasional Berhad (Petronas) may delay upstream exploration and production projects, leading to a slowdown in the growth of OGSE companies.
300 billion capital expenditure may fall short of the target.
This phenomenon is related to the transfer of control over Sarawak's natural gas resources from Petroliam Nasional Berhad to Sarawak's Petroleum Company (Petros), impacting the national oil company's revenue sources and free cash flow.
"Although we cannot quantify the impact, we believe that Petroliam Nasional Berhad (Petronas) may postpone capital expenditures as some of its trade revenue may have been lost."
The report points out that the past revenue of local Oil, Gas and Support Services (OGSE) companies has been highly correlated with Petronas' capital expenditure.
"For example, in the 20...
Translated
17
3
4
SerendipityStockPick
commented on
$PCHEM (5183.MY)$ Will you go back to 4.6 again? 😅😅😅
Translated
2
7
$PECCA (5271.MY)$
for years PECCA has been talkkng it new plant at UMW high value manifacturing park, so far just wind, nothing materialise, now they are using their own cash to buy back share, pay dividend + special dividend, cash in balance sheet is depleting, don’t they need cash for building new factory?
for me, management credibility is in question now.
anyone have any thought on this stock?
for years PECCA has been talkkng it new plant at UMW high value manifacturing park, so far just wind, nothing materialise, now they are using their own cash to buy back share, pay dividend + special dividend, cash in balance sheet is depleting, don’t they need cash for building new factory?
for me, management credibility is in question now.
anyone have any thought on this stock?
$PIE (7095.MY)$
# revenue decrease -19% YoY, +2% QoQ
# PBT decrease -56% YoY, -52% QoQ
# decrease of PBT mainly due to foreign exchange loss, result from MYR strengthening during quarter report period.
# net foreign exchange loss on quarter ended -11.687 mil
# CFI, property, plant and equipment 73.298 mil
# order received from Q4 2024 remain favourable
# The group is undergoing rationalisation to reduce orders from lower margin customer to reserve the capacity and resource ...
# revenue decrease -19% YoY, +2% QoQ
# PBT decrease -56% YoY, -52% QoQ
# decrease of PBT mainly due to foreign exchange loss, result from MYR strengthening during quarter report period.
# net foreign exchange loss on quarter ended -11.687 mil
# CFI, property, plant and equipment 73.298 mil
# order received from Q4 2024 remain favourable
# The group is undergoing rationalisation to reduce orders from lower margin customer to reserve the capacity and resource ...
5
SerendipityStockPick
voted
Primarily focus on ETFs but which sector?![]()
Try luck and see how it goes![]()
Global paper trade challenge have started!
Remember to participate in the guessing game too! Ans for the last two questions can be found in the promo t&c which should be both correct!![]()
There are various tasks to earn points that can be used to exchange for guessing points, accumulate 500 guessing points to share 100k USD prize pool!![]()
Try luck and see how it goes
Global paper trade challenge have started!
Remember to participate in the guessing game too! Ans for the last two questions can be found in the promo t&c which should be both correct!
There are various tasks to earn points that can be used to exchange for guessing points, accumulate 500 guessing points to share 100k USD prize pool!
24
1
5
SerendipityStockPick
commented on
Translated
4
SerendipityStockPick
liked
$DIALOG (7277.MY)$ Pls down down below 2
3
2
SerendipityStockPick
commented on
$PIE (7095.MY)$
# Revenue decrease -16% yoy, -4% qoq
# PBT increase +44% yoy, +72% qoq
# Increase of PBT was mainly attributable to higher margin of products mix in the current quarter
# the supply shortage of some major IC components in Q1 2024 which caused many orders not being fulfilled has improved in Q2
# More supply is expected to increase in Q3 2024 and all the backlog orders are expected to be cleared by year end
# The Group is undergoing rationalisation to reduce orders ...
# Revenue decrease -16% yoy, -4% qoq
# PBT increase +44% yoy, +72% qoq
# Increase of PBT was mainly attributable to higher margin of products mix in the current quarter
# the supply shortage of some major IC components in Q1 2024 which caused many orders not being fulfilled has improved in Q2
# More supply is expected to increase in Q3 2024 and all the backlog orders are expected to be cleared by year end
# The Group is undergoing rationalisation to reduce orders ...
5
1
![[empty]](https://static.moomoo.com/node_futunn_nnq/assets/images/folder.5c37692712.png)
![[error]](https://static.moomoo.com/node_futunn_nnq/assets/images/no-network.991ae8055c.png)
![[loading]](data:image/svg+xml;base64,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)