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[公司专区] 7251 BARAKAH 巴拉卡岸外

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发表于 2013-11-6 13:06 | 显示全部楼层
Barakah Offshore Petroleum - Breaking Out In Style
Author: kiasutrader   |   Publish date: Wed, 6 Nov 12:14  


Barakah Offshore Petroleum Bhd (Barakah), en-route for a listing on 6 Nov-13 from the RTO exercise, is another upstream oil & gas company to watch. We are projecting a 3-year net profit CAGR of 30.1%, underpinned by its: (i) existing RM500m HUC backlog; (ii) continued positive market share in the commissioning segment which accounted for c.70% of its total FY12 revenue, and (iii) increased subcontract work in the T&I space. Further catalysts to the stock is if it: (i) successfully secures some contracts via its joint-venture partner in the Gulf region; and (ii) manages to secure a direct contract for the Pan Malaysia T&I contract that is expected to be dished out by 1Q2014. We are initiating coverage of Barakah with an OUTPERFORM rating and target price of RM1.03/share, based on fully-diluted CY15 PER of 12x. Our target PER is at a 15% discount to its peers’ (Alam and Perisai) 14x due to its smaller asset base (it currently owns only one pipelay support vessel). This implies a 58% upside from the IPO price of RM0.65/share. We highlight that our current TP is based on a conservative viewpoint. Assuming Barakah manages to secure a whole package of the Pan Malaysia’s T&I, it would be valued at a much higher valuation of RM2.63/share.
A RTO of Vastalux. Barakah was incorporated early this year to facilitate a RTO exercise of Vastalux Energy Bhd (VEB)’s listing. It received the Securities Commission’s approval on 3 May-13 for a listing on the Main Board via RTO/Transfer of listing. Upon completion of the Proposed Share Exchange, VEB will be a wholly-owned subsidiary of Barakah.
Strong contract backlog. Current orderbook stands at RM775m while tender book is significant at RM6.1b. The company is confident of securing RM500m-RM600m new contracts per annum for the next three years on: (i) continued growth in market share in the commissioning segment, and (ii) increased subcontract work in the T&I space.
Brand new derrick lay barge (Kota Laksamana 101). Completed in September 2012, Kota Laksamana 101 is currently chartered as an accommodation and lifting barge with contract duration until November 2013. Being a 100% locally owned Malaysian flagged entity, this increases its chances of securing contracts in Malaysia.
Excellent project track record delivery and experienced leadership team. The group’s dedicated management team has an excellent historical track record in formulating and implementing strategic plans and posses delivery track record with zero long-term injuries since 2000. The group is led by an experienced Board with vast experiences in various senior leadership and operational positions in the oil and gas sector, especially in offshore pipeline installation.
Expecting a strong bottom line in FY13-FY15. We expect the group to achieve RM38.0m (+14.5% YoY), RM49.0m (+28.9% YoY) and RM73.1m (+49.2% YoY) of net profits in FY13, FY14 and FY15, respectively. Its FY13, FY14 and FY15 turnovers, meanwhile, are expected at RM287.0m (+42.1% YoY), RM435.0m (+51.5% YoY) and RM522.8m (+20.2% YoY), respectively. Drivers for the significant growth in revenue are: (i) better opportunity in T&I segment and (ii) continued growth of market share in the commissioning segment. Risks to the stock are: (i) downturn in the oil & gas sector; and (ii) over-dependence on major clients.
        Source: Kenanga

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发表于 2013-11-6 13:17 | 显示全部楼层
进场小买。今天很热啊!
CoolEye 发表于 2013-11-6 12:23



    什么价?

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发表于 2013-11-6 14:28 | 显示全部楼层
陆续进场

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发表于 2013-11-6 15:25 | 显示全部楼层
一直跌了

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发表于 2013-11-6 16:40 | 显示全部楼层
Barakah’s profit to rise 30% in next 3 yrs, says Kenanga
Written by Zatil Husna of theedgemalaysia.com
Wed Nov 06 2013 13:26:23 GM
KUALA LUMPUR (Nov 6): Kenanga Research has projected three-year net profit increase of 30% for Barakah Offshore Petroleum Bhd, an upstream player in the oil and gas (O&G) sector.

The research firm noted that Barakah is confident to secure new contracts worth about RM600 million per annum for the next three years to continue growth in market share in the commissioning segment and to increase subcontract work in the T&I space.

“Going forward, the company’s key targets are also to secure local and overseas offshore T&I contracts by leveraging on its wholly-owned pipe-laying barge, maintain its win rate of 90% in the commissioning market every year and secure gas and condensate export system contracts for offshore pipelines,” said the research house.

The research house said should the group successfully secure some contracts via its joint-venture partner in the Gulf region and manages to secure a direct contract for the Pan Malaysia T&I contract expected to be dished out by the 1QFY14, this would provide catalysts to the stock.

“We are initiating coverage of Barakah with an “outperform” rating and target price of RM1.03 per share. Our target PER is at a 15% discount to its peers’ (Alam and Perisai) 14x due to its smaller asset base (it currently owns only one pipelay support vessel).

“This implies a 58% upside from the reference price of RM0.65/share. We highlight that our current TP is based on a conservative viewpoint.

"Assuming Barakah manages to secure a whole package of the Pan Malaysia’s T&I, it would be valued at a much higher valuation of RM2.63/share,” it added.

The research firm expects the group to achieve RM38 million, RM49 million and RM73.1 million of net profit for financial year (FY) 2013, 2014 and 2015 respectively.

“The group’s turnovers for FY13, FY14 and FY15 are expected at RM287 million, RM435 million and RM522.8 million respectively,” it said, noting that drivers for significant growth in revenue are, better opportunity in T&I segment and continued growth of market share in the commissioning segment.

Barakah opened at 98 sen upon its “listing” today, which was 44.5 sen above its reference price of 53.5 sen.

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发表于 2013-11-6 16:55 | 显示全部楼层
巴拉卡首宗交易溢價83%2013-11-06 14:41





(吉隆坡6日訊)巴拉卡(BARAKAH,7251,主板貿服組)股價首日上市異常強勁,首宗交易溢價44.5仙或83.18%至98仙,首宗成交量為142萬9千股,以亮眼姿態成功取代VASTALX能源(VASTALX,7251,主板貿服組)在馬股上市。

該公司創辦人兼副執行主席罕丹在上市儀式後表示,看好本地油氣領域發展前景而專注發展本地市場,並放眼在2014財政年可獲成長20至30%。(星洲網)

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发表于 2013-11-6 17:39 | 显示全部楼层
每年料獲5億合約‧巴拉卡上市溢價87%2013-11-06 17:20






(吉隆坡6日訊)巴拉卡(BARAKAH,7251,主板貿服組)股價首日上市異常強勁,首宗交易溢價44.5仙或83.18%至98仙,首宗成交量為142萬9千股,以亮眼姿態成功取代VASTALX能源(VASTALX,7251,主板貿服組)在馬股上市。
首宗交易溢價83%
該股高開98仙後續上揚至最高點1令吉13仙,隨後稍微回落至最低98仙,閉市時報1令吉,全日溢價46.5仙或86.92%,成交量高達6千327萬3千股,為全場第三大熱門股。
該公司創辦人兼副執行主席罕丹在上市儀式後表示,看好本地油氣領域發展前景而專注發展本地市場,同時也會逐步尋求進軍其他市場的機會,主要目標市場為印尼與中東國家。
他披露,巴拉卡目前的訂單總額為7億5千500萬令吉,而競標總額則有62億令吉,並有信心可每年從中攫取5億令吉合約。
“事實上,我們近期已成功攫取3項大型合約,總值約5億5千400萬令吉。”
他提及,該公司未來將致力於發展岸外運輸與安裝業務,而過去的主要貢獻營收的業務為輸送管道業務。(星洲日報/財經)

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发表于 2013-11-6 18:01 | 显示全部楼层
同日掛牌.熱翻馬股 巴勒卡飆59.5仙



馬股相隔至少3年后,同日迎來兩宗上市;本土首隻避孕套股康樂(KAREX)和借倒置收購上市的巴勒卡(BARAKAH)首日掛牌勢如破竹,股價大漲!

 (吉隆坡6日訊)完成倒置收購計劃的巴勒卡(BARAKAH,7251,主要板貿易)一開市即大漲44.5仙或83%,以98仙迎市,隨后在熾熱購興下持續攀高,早盤高漲59.5仙,溢價逾1倍至1.13令吉。

 巴勒卡股價走勢不但走好,交投量更驚人,休市暫掛1.02令吉,飆漲48.5仙,半日交投達5024萬1900股,穩居上升股榜前三甲位置。

 今日一同上市的庫存股巴勒卡-LA(BARAKAH-LA,7251LA,主要板債券)亦價量齊升,開市猛漲27仙或50%,以80.5仙報開,隨后漲幅雖收窄,仍穩守十大上升股榜;休市暫掛67仙,起13.5仙,半日計有12萬4600股易手。

 閉市時,巴勒卡揚46.5仙,報1令吉,成交量6327萬2800股;巴勒卡-LA漲8.5仙,報62仙,交投量1436萬2900股。

 對于首日上市即開出“好彩頭”,巴勒卡創辦人兼副執行主席韓丹深感開心,同時感謝股東對公司的信心。

確保持續穩健增長

 “雖然公司還未制定派息政策,但我們會確保公司可持續穩健增長,同時計劃回饋股東的方式。”

 他今早出席上市儀式后,發表上述談話,列席者包括巴勒卡岸外石油公司執行董事阿茲曼查卡利雅、拉迪阿都拉、總裁兼總執行長阿都查化、總財務長莫達、總企業長阿都阿旺。

 韓丹指出,公司已投資購買資產,包括海底敷管船 (Kota Laksamana 101),但至今未充分利用完這些資產,希望未來可得到更多服務合約,提高資產利用率,以讓公司持續增長。

冀年獲6億合約

巴勒卡有信心每年能獲得至少5億令吉至6億令吉油氣服務合約,看好2014財年業績能取得介于20%至30%增長。

 莫達說,巴勒卡剛宣布截至2013財年9月份業績,營業額達2億1100萬令吉,淨利3000萬令吉。

 他指出,目前最大收入仍來自輸油管服務,看好未來油田裝配和營運服務將成為業績增長主要動力。

 “公司目前競標值高達62億令吉,淨賬面價值達7億5500萬令吉,這包括近期獲頒總值6億6400萬令吉新合約。”

 韓丹說,上述合約包括總值5億令吉油田裝配和營運合約、7000萬令吉運輸和安裝合約及9400萬令吉輸油管合約。

 “基于本地油氣市場非常強大,有信心每年至少都能獲得5億令吉至6億令吉油氣服務合約;如今上市后,也不忽略擴大海外業務,尤其是印尼、越南和西亞。”

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发表于 2013-11-7 08:30 | 显示全部楼层
Barakah Offshore aims RM600m worth of contracts yearly
Barakah Offshore Petroleum Bhd aims to secure between RM500m and RM600m worth of contracts yearly,
supported by continuous demand in the industry. The contracts will be secured through its three core businesses, i.e.
pipeline services, transportation and installation, and hook-up commissioning. Barakah's expect transportation and
installation business will be the next key contributor and has invested in a lot in assets given its potential. Among the
assets is a new pipelay barge "PLB-Kota Laksamana 101, which the group expects to be a catalyst for its growth in
the transportation and installation segment. The company is eyeing between 20% and 30% increase in revenue for its
current financial year. For the financial year ended Sept 30, 2013, the group recorded about RM202m revenue, with
net after-tax profit of about RM33m. Bernama

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发表于 2013-11-7 14:48 | 显示全部楼层
倒置收购Vastalx取代上市 巴拉卡岸外首日溢价87%  2013-11-07 12:31
   

  • 巴拉卡岸外董事部成员于周三早上9时开心鸣锣,庆祝上市成功。左起为聂韩旦、阿滋曼莎、赛阿都拉欣、努意山及努丽娃妮。


(吉隆坡6日讯)巴拉卡岸外(BARAKAH,7251,主板贸服股)首日上市即取得开门红,全天溢价86.92%或46.5仙,闭市报1令吉,分别晋升热门榜及上升榜第三名位置。

该股首日上市以98仙开跑,相较于53.5仙发售价,溢价83.17%。

以6亿2406万4089股票数额以及新股发售价65仙计算,巴拉卡岸外市值为4亿560万令吉。

巴拉卡岸外最高曾触及1.13令吉,最低则为98仙,成交量达6327万2800股。

至于债券股———巴拉卡岸外-LA(BARAKAH-LA)甫开盘的价格,也达80.5仙;巴拉卡岸外-LA以62仙挂收,全日上扬8.5仙或15.89%。

运输安装主导营收

巴拉卡岸外2014财年的业绩,料由运输及安装(T&I)业务主导,整体业务估计可取得20%至30%的增长。

巴拉卡岸外副总裁兼总财务长菲达坞斯,在上市记者会上表示,尽管T&I业务并不是2013财政年的主要驱动力,惟估计会在2014财政年,成为关键角色。

此外,早在3至4个月前所赢得的装配与营运(HUC)项目,也料为增长带来正面贡献。

因此,菲达坞斯认为,2014财政年的营业额料显著增加,而净利表现则会比以往来得稍佳。

他续称,T&I业务的赚幅料相当可观,因为该公司是资产的拥有者,故这可成为竞争优势。

惟他进一步解释,该公司已在T&I业务投入近3亿令吉,因此若要说真正开始获利,或还需5至6年的时间恢复早前所投入的成本。

出席鸣锣仪式的,还包括执行董事阿滋曼莎、总裁兼总执行长赛阿都拉欣、子公司董事拿督努意山及董事努丽娃妮。

巴拉卡岸外是透过PBJV Group私人有限公司,倒置收购Vastalx能源(VASTALX)后,取代后者的上市地位。

资本开销1500万

巴拉卡岸外将拨出1500万令吉,作为现有的管道服务和HUC业务的资本开销。

菲达坞斯称,该公司的资本开销取决于合约的规模,故很难给予一个特定的数额,因为一切都会根据合约来进行融资的安排。

菲达坞斯表示,该公司在资产上已投入许多成本,惟该些资产尚未全数被使用。

他补充:“我们的主要业务有三项,分别是HUC、T&I和调试工程。未来,我们会进一步发展这三项业务,同时放眼国内外的商机。”

迄今,巴拉卡岸外还未设下股息政策,惟管理层表示将会尽早决定。同时,该公司目前并无意进行任何企业活动。

2013财政年而言,其首9个月营业额为2亿1100万令吉,净利为3000万令吉。

放眼每年6亿新订单

巴拉卡岸外的合约订单企于7亿5500万令吉,目前正竞标订单高达62亿令吉。

巴拉卡岸外创办人兼副执行主席聂韩旦披露,目前,该公司参与竞标的工程乃以T&I为主。

同时,该公司也放眼每年可取得5亿至6亿令吉规模的新订单。

菲达坞斯说到,该公司目前大部分的业务都由国内工程所组成,海外工程则仍在竞标阶段。

聂韩旦续称,巴拉卡岸外在印尼和越南都曾完成过项目,惟他依旧认为本地市场是良好的。

“在上市之前,有鉴于财务能力有限,因此我们的项目都是以财务能力作为定夺。然而,成功上市筹资之后,这允许我们拓展业务及放眼更多机会。”



【南洋网】

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发表于 2013-11-8 17:43 | 显示全部楼层
1.10

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发表于 2013-11-8 18:22 | 显示全部楼层

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发表于 2013-11-8 18:36 | 显示全部楼层
好股不怕收!只怕错过逢低加码的机会。。。

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发表于 2013-11-8 18:37 | 显示全部楼层

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发表于 2013-11-8 18:42 | 显示全部楼层
Oil share
2.00 got hope bo

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发表于 2013-11-9 12:13 | 显示全部楼层
好股不怕收!只怕错过逢低加码的机会。。。
CoolEye 发表于 2013-11-8 18:36



    define好股
请指教

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发表于 2013-11-9 13:18 | 显示全部楼层
名字取的像是间bangkala公司,但股价却起得很厉害。

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发表于 2013-11-9 15:45 | 显示全部楼层
回复 76# ShawnRiver


    以目前来说,相较与同行无论其本益比、净利率、ROE、现金流、前景展望等 确实优秀!但也要陆续跟踪与观察。。。

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发表于 2013-11-9 17:12 | 显示全部楼层
巴拉卡2.4%股场外易手


(吉隆坡8日讯)刚挂牌马交所的巴拉卡岸外(BARAKAH,7251,主板贸服股),周五出现一笔高达1500万股的场外交易。

这批股票相等于2.4%的股权。

以每股90仙的平均交易价推算,巴拉卡岸外场外交易的总交易价约1350万令吉。

巴拉卡岸外周五以97仙开市,全天最高扬升至1.14令吉,闭市报1.10令吉,全天上升12仙或12.24%,成交量为2252万1700股。

相比于闭市价,巴拉卡岸外场外交易的平均交易价是折价20仙。

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发表于 2013-11-10 16:05 | 显示全部楼层
回复 1# GNL


    包銷商?MAYBANK INVESTMENT BERHAD买完?

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