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[公司专区] 5142 WASEONG 華商控股

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发表于 2009-8-5 13:03 | 显示全部楼层 |阅读模式
華商子公司7619萬增持PPSC股權

(吉隆坡4日訊)華商控股(WASEONG,5142,主板工業股)旗下間接獨資子公司Wasco Coatings有限公司,與Socotherm S.p.A.進行一項買賣協議,以7619萬6450令吉代價,收購PPSC工業控股私人有限公司32.52%的股權。

目前,Wasco Coatings有限公司持有PPSC工業控股私人有限公司的67.48%股權。

在該收購案完成後,PPSC工業控股私人有限公司將成為華商控股旗下間接獨資子公司。華商控股將通過內部融資及股東墊款(shareholders' advances)進行以上收購。

擴展管道塗料業務

華商控股在文告中表示,有關收購案將消除其管道塗料業務面臨少數股東權益稀釋效應。該收購案也能讓該公司無需在小股東的限制下,在地理上擴展其管道塗料業務。

該收購案料不會為華商控股截至09年12月31日的綜合盈利帶來任何實質的影響,惟將會在未來為該公司盈利提供正面貢獻。

配合這項收購案,華商控股股票早上9時15分暫停交易,然後在10時15分恢復交易。

該股盤中交易一度走高11仙或5.4%,至2.14令吉,惟稍後收窄漲幅,以2.07令吉結束全天交易,起4仙或1.97%。



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 楼主| 发表于 2009-8-5 13:12 | 显示全部楼层
?22695536

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 楼主| 发表于 2009-8-5 22:06 | 显示全部楼层
購PPSC帶動盈利‧華商機構前景可期

    * 大馬財經

2009-08-05 19:13

(吉隆坡)華商機構(WASEONG,5142,主板工業產品組)增購P P S C工業控股32.52%股權,受分析員看好,不但購價廉宜,也為集團未來標獲更多深水塗層工程及奠定更強勢的盈利成長鋪路,預料會有更多併購計劃,前景可期。

華商機構以7620萬令吉進行上述收購計劃,基於未來巨大盈利潛能,分析員更上調2010及2011財政年的凈利預測達7.8%至8.6%。

此集團仍然探討進一步併購機會,尤其是海外油氣業油管塗層商機,並有意提高凈負債水平至1倍。據悉,華商機構正探視收購尼日利亞及安哥拉的塗層公司,以擴充海外業務版圖,預料併購可在今年落實。

PPSC的2008財政年凈利為2170萬令吉,華商機構只是支付合理的10.8倍本益比,比較股本益比為18倍,2010財政年的收購本益比為9倍,比較油氣股為10倍。

收購計劃對2009財政年的盈利貢獻非常小,在2010財政年才作出全年盈利貢獻,若按年利成本6%計,減少股東開銷,估計增加華商機構2010財政年凈利達400萬令吉或4%。

收購計劃將提高集團凈負債達18%,從今年3月底的4億3100萬令吉增至5億零700萬,或凈負債比達0.6倍。

同時,西澳BARROW島的高庚(GORGON)項目以及巴布亞新幾內亞的工程,華商機構也獲取資格,成為競標油管塗層工程的2家公司之一,兩項工程總值估計達3億5000萬美元(約馬幣13億令吉),而另一競標者為BREDERO SHAW,雙方很可能一起分享工程,以減低執行風險。

分析員表示,PPSC即將攫取顯著工程,盈利有望攀高。這間公司已獲得3億7000萬令吉工程(GEMUSUT KAKAP工程及土庫曼斯坦和中亞油管),有助推高至2011年的盈利,同時也積極競標更多尤其是深水的工程。

這間公司是亞洲最大的綜合深水塗層工程公司。

華商機構目前手上工程約13億6000萬令吉,競標工程超過10億美元(約馬幣35億令吉)。

這間公司股價今日(週三,8月5日)走高,一度上揚5.31%至2令吉18仙,並以2令吉14仙報收,揚7仙或3.38%。

聯昌研究:超越大市
目標價:RM2.81

收購落實對公司有利,相信賣方Socotherm集團面對財務困境,使華商機構佔談判上風以低價完成收購。收購計劃的融資不會面對問題,公司已作好準備。

上調2010及2011財政年每股凈利分別達6.7%及6.4%,分別為1億5850萬和1億6710萬。

僑豐研究:買進
目標價:RM2.78

PPSC未來的貢獻預料走高,因為在油價回春下有望取得更多深水油管塗層工程,塗層工程的賺幅高達30至40%。

集團2010財政年盈利的貢獻預料將增長8%,上調淨利預測7.8%至1億5200萬。

益資利研究:買進
目標價:RM2.60

調高2010及2011年淨利預測8.2%及8.6%。分別可取得1億零370萬和1億2720萬淨利,因為PPSC是一家極具成長潛能的公司。

PPSC是亞洲唯一的深水塗層工程公司。

大馬研究:買進
合理價:RM2.65

收購計劃對集團的盈利上調貢獻不大,維持2009至2011年淨利預測於1億1220萬、1億2450萬和1億3510萬,這是根據預測2009至2011財政年可取得訂單填補為6億、8億和9億。

賺幅預計從2008財政年的6%增至2009至2011財政年的8%。
星洲日報/財經‧2009.08.05

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 楼主| 发表于 2009-8-6 12:25 | 显示全部楼层
OSK upgrades Wah Seong’s earnings, target price           PDF           Print           E-mail

Tags: OSK Research | PPSC | target price | Wah Seong Corp Bhd
Written by Financial Daily   
Thursday, 06 August 2009 12:11
Bookmark and Share
OSK Research has upgraded its net profit forecast for Wah Seong Corp Bhd for FY10 and its target price for the stock following the company’s recent acquisition of the remaining 33% stake in PPSC Industrial Holdings Sdn Bhd.

“We gather that this acquisition will make a minimal contribution to its FY09 net profit but expect full-year contribution for FY10 since PPSC has no more minority shareholder,” it said. It raised its FY10 net profit forecast by 7.8%.

“We believe this subsidiary (PPSC) would be able to generate a higher profit contribution after factoring in the higher gross margin from deepwater pipe coating of 30% to 40% versus the 20% from conventional pipe coating.

“We understand that PPSC is currently busy coating deepwater pipes for Petronas’ Gemusut Kakap and Turkmenistan projects. This plant is also the single-largest integrated pipe-coating plant in Asia,” it added.

OSK Research also upped its target price for Wah Seong to RM2.78 (previously RM2.58) based on a price-earnings ratio (PER) of 12 times FY10 earnings.

“The company is supported by a strong order book of over RM1.4 billion. We like the company for its market leadership in the provision of pipe-coating and corrosion protection in Malaysia,” it said.

Wah Seong announced on Tuesday that its wholly owned indirect subsidiary, Wasco Coatings Ltd (WCL), has entered into a sale and purchase agreement (SPA) with Socotherm to acquire the remaining 32% stake in PPSC for

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 楼主| 发表于 2009-8-12 18:29 | 显示全部楼层
Changes in Substantial Shareholder's Interest Pursuant to Form 29B of the Companies Act. 1965
Reference No CCS-090812-21045
Company Name       
:
        WAH SEONG CORPORATION BERHAD
Stock Name        
:
        WASEONG
Date Announced       
:
        12/08/2009

Name       
:
        Employees Provident Fund Board
Address       
:
       
Tingkat 19, Bangunan KWSP, Jalan Raja Laut,
50350 Kuala Lumpur
NRIC/Passport No/Company No.
       
:
        EPF ACT 1991
Nationality/Country of incorporation
       
:
        Malaysia
Descriptions
(Class & nominal value)
       
:
       
Ordinary shares of RM0.50 each
Name & address
of registered
holder
       
:
       
1. Employees Provident Fund Board
Tingkat 19, Bangunan KWSP, Jalan Raja Laut,
50350 Kuala Lumpur

2. Mayban Investment Management Sdn Bhd
Level 13, Maybanlife Tower
Dataran Maybank, No. 1 Jalan Maarof
59000 Kuala Lumpur

Details of changes
Currency
       
:
        Malaysian Ringgit (MYR)

Type of transaction
       
Date of change
       
No of securities
       
Price Transacted ($$)
Disposed
       
31/07/2009
       
343,000
       
Disposed
       
05/08/2009
       
1,000,000
       
Disposed
       
05/08/2009
       
300,000
       
Disposed
       
06/08/2009
       
722,700
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       

Circumstances
by reason of which change has occurred
       
:
       
Sales of equity managed by Portfolio Manager and sales of equity
Nature of
interest
       
:
       
Direct
Direct (units)       
:
        61,849,883
Direct (%)       
:
        9.15
Indirect/deemed interest (units)
       
:
        0
Indirect/deemed interest (%)
       
:
        0
Total no of securities after change
       
:
        61,849,883
Date of notice       
:
        06/08/2009

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发表于 2009-8-14 11:45 | 显示全部楼层
红龙兄认为epf 出场会有什么原因或影响吗。
我有买到一点,当时觉得他便宜 pe 差不多8 在汽油股里算便宜了。

会不会是他新的quater report 不美呢???
这里好像买他的人不多哦。。。

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 楼主| 发表于 2009-8-15 14:03 | 显示全部楼层
我不知道。。。。不过这股收长期是OK的。。。
我只是买来投机,看到EPF卖,我也卖光了,亏了RM1000大元

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发表于 2010-8-31 00:57 | 显示全部楼层
waseong-wa, 持有了一年半以上,母股最近低落,有点担心。

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发表于 2010-9-29 13:45 | 显示全部楼层
油氣活動淡靜‧華商財測砍17.9%

(吉隆坡13日訊) 華商機構(WASEONG, 5142, 主板工業產品組)受短期油氣業活動淡靜影響,下半年表現料續顯疲態,分析員雖看好長期前景,但估計第三季盈利將在油氣業合約流動緩慢下,延續第二季虛弱表現。

鑒於看淡2010年盈利表現,認為催化因素會在明年才陸續浮現,興業研究下砍2010年財測17.9%至淨利7千440萬令吉,2011和2012年淨利下調5.1%和3.9%,分別為1億2千130萬和1億3千970萬令吉;同時將原有1令吉89仙目標價下調至1令吉79仙,維持“落後大市”評級。

興業指出,雖然油氣業即將浮現一些新發展計劃,可目前市場合約流動量,尤其製造相關工作,仍維持偏低水平。

這家公司管理層透露,澳洲煤層氣體(CSG)計劃的頒發,多少為油氣業引進些許曙光,還補充國油的Santos液化天然氣計劃會在2011年初開始公佈,但由於計劃未獲正式核准,分析員認為實際公佈日期可能展延。

興業認為,澳洲岸內煤層氣體製造商可能被徵收40%石油資源出租稅(PRRT),讓計劃落實日期出現波動,此外,全球經濟前景至今尚未明朗,也是阻礙計劃落實的可能因素之一。

雖然澳洲作業進展緩慢,此公司尼日利亞合作夥伴Pipe Coaters公司有望繼續攫獲一些合約;華商機構在合作關係中提供導管塗料的商業協助和技術支援。

興業表示,這項合作關係的短期效應雖然有限,但卻可助公司曝光於西非市場,對雙方合作看法正面。

工程業務緩慢回溫

另外,工程業務自年中展現抬頭趨勢,但至今也僅在8月份攫獲3千萬美元(9千324萬令吉)合約,及總值5千500萬至6千萬美元(1億7千萬至1億8千648令吉)之間的意向書。

上述到手合約的運送限期為6至8個月;即使此公司能在今年第四季前將意向書轉換成實質合約,也必須等到2011年才能作出盈利貢獻。

興業指出,總值1億6300萬美元“高庚(Gorgon)”計劃雖在今年6月正式開跑,卻受一些複雜因素影響進展,尤其在8月份營運更一度被暫停三週,將第三季實際營運時間拉低至兩個月;管理層雖強調所有負面因素已經解決,但分析員相信導管塗料產量會在第四季才會顯著提昇。

此外,為迎合沙巴砂拉越天然氣管發展計劃(SSGP)而在亞庇成立的導管製造廠,自今年首季完成以來主要被用在基建和水務計劃;由於近期出現新工程的可能性不大,相信這種“錯用”情況至少要延續至2011年。


星洲日報/財經‧2010.09.13

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发表于 2010-11-2 17:27 | 显示全部楼层
RHB Research maintains FV for Wah Seong at RM2.21

KUALA LUMPUR: RHB Research is maintaining its fair value of RM2.21 for Wah Seong Corp Bhd and is keeping its market perform recommendation.

The research house said on Tuesday, Nov 2 that it believes much of the negative sentiment surrounding the sector has been priced in by investors. Share prices did not experience any significant pull-back during the quarterly results reporting in Aug and in fact some stocks have performed strongly in recent months.

“Two main reasons for this: 1) Sustained crude oil prices above the US$70 per barrel mark; and the 2) Resolution of several global energy issues,” it said.

AmResearch said in the short-term, it believes several stocks to see ample trading interest on the back of positive newsflows.

They are stocks linked to the initiatives planned in the Economic Transformation plan (Dialog); provide brownfield services to the domestic energy market (Dayang/ Kencana); and; Are in the same value chain as the two Petronas listings (Kencana/Petronas Gas) could see ample trading interest on the back of positive newsflows.

http://www.theedgemalaysia.com/b ... seong-at-rm221.html

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发表于 2010-12-1 13:26 | 显示全部楼层
合約減少‧美元走軟‧華商第三季淨利跌60%

    * 大馬財經

2010-12-01 12:47

(吉隆坡30日訊)攫取合約降低和美元走軟,華商機構(WASEONG, 5142, 主板工業產品組)截至2010年9月30日止第三季淨利下跌59.75%至1千248萬8千令吉。

首9個月凈利急挫63.90%至3千121萬3千令吉。

基於去年獲頒的一些工程較小,加上匯率波動的不利效果,使截至9月底的營業額敗退24.69%至11億2千612萬8千令吉。每股凈利從11.45仙下滑至4.12仙。

第三季營業額回退31.57%至3億4千676萬4千令吉。

2009年欠缺工程預料繼續影響表現,不過,隨市場投票活動增溫,特別上季已成功標獲一些新工程,主要石油公司似乎加強資本投資活動,預計對集團未來表現帶來正面效果。

星洲日報/財經‧2010.12.01

http://biz.sinchew-i.com/node/41489

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发表于 2010-12-1 21:11 | 显示全部楼层
行家论股:管道涂层工程展延 华商控股前景谨慎
2010/12/01 6:53:14 PM
●南洋商报

随着澳洲高庚(Gorgon)液化天然气工程的管道涂层计划展延,加上旗下的勘探和生产(E&P)业务表现疲弱,我们对华商控股(WaSeong,5142,主板工业产品股)的前景保持谨慎态度。

受上述工程展延的影响,以致该公司第三季业绩逊色。

尽管第三季净利按季上涨7倍取得1200万令吉,但仍低于市场预测的2500万至3000万令吉。

然而,再生能源领域的盈利则强劲增长,按季暴涨51%。

我们预计华商控股今年将取得5700万令吉的净利,受惠于第四季的强劲净利表现(2500万令吉)。此外,工程订单增多也令该公司的未入账订单,按季微涨8%至13亿令吉。

华商控股的盈利表现不稳定,再加上澳洲高庚的管道涂层计划展延,分析员因此给予该股“守住”的评级,目标价格则由2.20令吉下修至2令吉。


http://www.nanyang.com.my/NewsCenter/articleDetail.asp?type=N&ID=204816&SID=7&CID=12

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发表于 2010-12-28 19:18 | 显示全部楼层
Wah Seong subsidiaries to sell stakes in Drilbits, Driltools

KUALA LUMPUR: WAH SEONG CORPORATION BHD []’s wholly-owned direct and indirect subsidiaries Wah Seong International Pte Limited (WSIPL) and Wasco E&P Services Limited (Wasco E&P Services) are disposing their 60% equity stakes in Drilbits International Private Ltd and Driltools International FZCO as part of Wah Seong’s strategy to streamline and rationalise its core businesses and to divest non-core business.

Wah Seong said on Tuesday, Dec 28 that WSIPL and Wasco E&P Services had entered into two separate sale and purchase agreements to dispose their stakes in DrilBits and Driltools respectively.

WSIPL holds 2.18 million shares (60%) of the equity interest in DrilBits and Wasco E&P Services holds 24 shares (60%) of the equity interest in DrilTools.

The remaining 40% equity interest in both DrilBits and DrilTools are held by businessman Rajan Abraham, who is an Indian national.

WSIPL, Wasco E&P Services and Rajan are disposing of their shares in DrilBits and DrilTools to Omni Oil TECHNOLOGY [] Holdings Limited and Omni Oil Technology Holdings Ltd.

Omni Oil Technology Holdings Limited is a Jebel Ali offshore free zone company.

Wah Seong said WSIPL’s portion from the proposal disposal was US$2.7 million while Wasco E&P Services’ was US$4.8 million.

It said the disposals are expected to be completed in the first quarter of 2011.

http://www.theedgemalaysia.com/b ... bits-driltools.html

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发表于 2010-12-29 17:23 | 显示全部楼层
Wah Seong sells units for RM23m

KUALA LUMPUR: Wah Seong Corp Bhd is disposing its 60% equity stake in Drilbits International Private Ltd and Driltools International FZCO for a total of RM23.2 million, as part of the group’s strategy to streamline and rationalise its core businesses and to divest non-core business.

Wah Seong made the announcement to dispose its stakes, which are owned through its wholly owned direct and indirect subsidiaries Wah Seong International Pte Limited (WSIPL) and Wasco E&P Services Limited (Wasco E&P Services), to Bursa Malaysia yesterday.

The oil and gas services provider said WSIPL and Wasco E&P Services had entered into two separate sale and purchase agreements to dispose their stakes in DrilBits and Driltools respectively. WSIPL and Wasco E&P Services portions of the sale would amount to RM8.34 million (US$2.7 million) and RM14.84 million (US$4.8 million) respectively.

WSIPL holds 2.18 million shares (60%) of the equity interest in DrilBits and Wasco E&P Services holds 24 shares (60%) of the equity interest in DrilTools. The remaining 40% equity interest in both DrilBits and DrilTools are held by businessman Rajan Abraham, who is an Indian national.

WSIPL, Wasco E&P Services and Rajan are disposing of their shares in DrilBits and DrilTools to Omni Oil Technology Holdings Limited, a Jebel Ali offshore free zone company, and Omni Oil Technology Holdings Ltd.

The disposals are expected to be completed in the first quarter of 2011.

http://www.theedgemalaysia.com/i ... nits-for-rm23m.html

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发表于 2010-12-30 17:07 | 显示全部楼层
最后几分钟大单交易,是否有利好消息?

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发表于 2011-1-14 16:30 | 显示全部楼层
Wah Seong climbs as work on Gorgon LNG coating contract takes off

KUALA LUMPUR: Shares of Wah Seong Corp Bhd climbed in early trade on Friday, Jan 14 as work on the Gorgon LNG coating contract takes off.

At 9.15am, the shares rose nine sen to RM2.35 with 1.25 million shares done. Its call warrants, Wah Seong-CA added 2.5 sen to 8.5 sen.

The FBM KLCI rose 0.27 of a point to 1,571.83. Turnover was 177.81 million shares done valued at RM145.06 million. There were 231 gainers, 99 losers and 168 stocks unchanged.

ECM Libra Research said after the delays faced by the Gorgon LNG coating contract over 2HCY10, Wah Seong noted that the project is now in progress and is still slated for completion in 1QCY12 as originally planned.

Only 10% of the job has so far been completed. The Gorgon project is worth RM550 million and will yield margins of up to 20% at gross level.

“We raise our estimates for FY11 by 14.9% to account for an improvement in the engineering segment, full year contribution from Gorgon and also new jobs that may trickle in at the end of FY11,” it said.

ECM Libra Research said with orderbook growth from increased capex spend over 2011, Wah Seong should be re-rated to +1 standard deviation PE of 18x which was seen in previous rally in 2007 and 2009.

“As such, we peg its FY11 EPS to the 18x PE target to derive our revised target price of RM2.70 (previously RM2.09),” it said.

http://www.theedgemalaysia.com/b ... ract-takes-off.html

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发表于 2011-1-15 12:58 | 显示全部楼层
高庚計劃復工‧訂單增加‧華商財測上調15%

業績評論  2011-01-14 19:19
(吉隆坡14日訊)隨澳洲高庚(GORGON)液化天然氣涂層計劃復工,加上華商機構(WASEONG, 5142, 主板工業產品組)整體盈利的改善及工程領域訂單的增加,其2011財政年每股凈利獲得上調高達14.9%。

高庚液化天然氣涂層計劃已恢復進展,預計在明年首季完工,並對集團作出全年的貢獻。此工程值5億5千萬令吉,至今僅完成10%,預計帶來高達20%的毛賺幅。

益資利研究相信,今年的資本開銷增加,促使訂單成長,華商機構應當獲重估增加1個標準本益比評級至18倍,重演2007及2009年的前一次高峰期,調整目標價並修高至2令吉70仙。

現有訂單當中,43%為喉管涂層工程,另30%訂單來自工程領域。華商機構的工程訂單在過去6個月已倍增,主要因全球浮式生產、儲存和卸載(FPSO)的資本開銷復蘇。

該公司競標的工程訂單高達23億令吉,大約40%為喉管涂層工程,同時在澳洲的兩項涂層工程投標處於資格篩選階段,與高庚液化天然氣涂層計劃的規模不相上下。

該行相信至少可取獲澳洲的其中一項投標工程。

大馬工程方面,該公司正進行沙巴的喉管涂層工程,值1億5千萬令吉,華商機構或許可在高庚液化天然氣涂層計劃完成前填補其工程,同時也可能標獲更多工程,因該公司積極投標澳洲工程。

該公司的工程領域訂單從2010年次季的2億2千萬令吉增至去年杪的3億9千萬令吉。2011財政年獲標的新喉管涂層工程,或在同年下半年施工,進而也增添喉管涂層領域的盈利。

沙巴的喉管涂層工程賺幅或高達30%。該行假設此公司2011財政年訂單為15億令吉,2012財政年平均為17億令吉。

http://biz.sinchew-i.com/node/43033

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发表于 2011-1-27 22:12 | 显示全部楼层
售非盈利業務 華商內部重組

(吉隆坡27日訊)華商控股(WASEONG,5142,主板工業股)再次脫售旗下非盈利業務,市場人士相信,該公司將在未來持續進行脫售業務,以完成其內部重組計劃。


華商控股昨日宣佈,旗下子公司Yadong國際防腐有限公司,同時脫售在沙地阿拉伯提供鋼管製造業務的Arabian-Yadong聯營公司,及沙地阿拉伯首都利雅得(Riyadh)的鋼管塗層廠房,並獲得1050萬令吉的資金。

而透過該項脫售活動所釋放的投資價值約為670萬令吉,為華商控股帶來微幅的利潤。

益資利投行分析員表示,這次的脫售行動,乃配合該公司的內部重組計劃,並將持續性地脫售旗下的勘探及生產(E&P)業務,以專注發展油氣領域的業務。

同時,分析員也指出,脫售沙地阿拉伯的業務,並不會對該公司造成任何的衝擊,因為這些業務無法帶來顯著的貢獻。

唯值得注意的是,華商控股早在05年涉足油氣領域時,便有意脫售旗下非盈利業務,而隨著目前在該領域逐步取得成效後,脫售活動才正式在去年杪開跑。

競標57億工程

此外,分析員宣稱,該公司的競標工程訂單為57億令吉,而其中的40%為鋼管塗層工程,包括總值1億5000萬令吉的Kebabangan鋼管塗層合約、約3億令吉的APLNG岸上鋼管塗層合約及約3億令吉的Gladstone液化天然氣岸上鋼管製造與塗層合約等。

而據悉,該公司也有意在工程設備與製造業務,取得更多的競標工程合約。

因此,分析員相信,華商控股在去年沉寂一段時間後,將在今年預計宣佈多項新的工程合約。

截至目前,華商控股的2011財政年仍受到總值5億5000萬令吉的Gorgon工程所扶持。

基於分析員認為該公司仍擁有潛在的工程訂單成長,因而維持該股「買進」評級,目標價為2.70令吉。

http://www2.orientaldaily.com.my ... 4qt0qOU1V202UJM8M1F

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发表于 2011-1-27 23:19 | 显示全部楼层
Wah Seong unit sells stake in JV, assets for RM10.5m

KUALA LUMPUR: Wah Seong Corp Bhd’s wholly owned indirect subsidiary Yadong-Anti Corrosion (Int) Co Ltd is selling its 50% stake in Arabian-Yadong Coating Co Ltd, and steel pipe coating equipment for US$3.45 million (RM10.5 million).

In a filing with Bursa Malaysia yesterday, the oil and gas service provider said it is selling its entire 50% stake and equipment to Arabian Pipes Co due to the termination of the joint venture company with Arabian Pipes Co.

“It is the desire of Arabian Pipes to take full control of the business,” said Wah Seong in the statement.

According to Wah Seong, the total original cost of the sale shares and the carrying assets was US$2.15 million.

The proposed sale of shares and assets will be satisfied in cash and is expected to be completed in three months. Wah Seong fell three sen to close at RM2.26 yesterday with 2.49 million shares done.

http://www.theedgemalaysia.com/i ... ets-for-rm105m.html

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发表于 2011-2-17 17:11 | 显示全部楼层
Wah Seong 4Q earnings dn 28.9pct to RM24.76m on-yr on fewer projects

KUALA LUMPUR: Wah Seong Corp Bhd’s earnings fell 28.9% to RM24.76 million in the fourth quarter ended Dec 31, 2010 from RM34.84 million a year ago due to the lower number of projects and unfavourable effect of foreign exchange fluctuations.

It said on Thursday, Feb 17 revenue fell 12.7% to RM397.23 million from RM455.07 million while earnings per share were 3.2 sen compared with 4.5 sen. It proposed dividend of 2.5 sen per share.

For the financial year ended Dec 31, 2010, the net profit fell 53.8% to RM55.98 million from RM121.32 million in FY09. Revenue fell 21.9% to RM1.523 billion from RM1.950 billion.

Wah Seong said the decline was due to lower revenue generated in the main divisions as a result of lower number of projects awarded in the market during 2009 and the unfavourable effect of foreign exchange fluctuations.

At the pre-tax level, it said it improved from RM18.9 million in the third quarter to RM35.26 million in the fourth quarter due to increasing activities in the main divisions of the group.

It said following the increase in bidding activities in the market, the group managed to secure new projects in the current quarter.

“The increasing trend in the oil majors’ capital investment activities is expected to have a positive impact on the group’s future performance. The group expects overall performance to remain positive for the financial year ending Dec 31, 2011,” it said.

http://www.theedgemalaysia.com/b ... fewer-projects.html

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