NST Online Business Times : latest

Posted: 05 Nov 2012 06:19 PM PST

SapuraKencana Petroleum Bhd rose as much as 7.75 percent after the Malaysian oil and gas services firm said on Monday it is acquiring 100 percent of Seadrill's tender rig business in a US$2.9 billion deal.

"While SapuraKencana has not finalised the funding structure for the deal, we believe that the proposed integration will create value for its shareholders," HwangDBS Vickers Research said in a note on Tuesday.

Assuming 66 percent debt to fund the deal, the transaction would significantly add to earnings (excluding potential advisory fees) with 39-34 percent upside to HwangDBS' earnings per share forecast on SapuraKencana for the financial year ending Jan. 31, 2014 (FY2014)-FY2015 given the superior profit margin for Seadrill's tender rig business.

The research house maintained its "buy" rating on the counter with a target price of RM3.00 per share.

Shares of SapuraKencana were up 7.38 percent at RM2.91 by 10.14am, outperforming the benchmark index's 0.32 percent drop. -- Reuters

Kenanga raises Parkson target price

Posted: 05 Nov 2012 07:09 PM PST

Kenanga Research raised its target price on department store group Parkson Holdings Bhd to RM5.13 from RM4.86 on the back of the firm's retail outlet expansion in Myanmar.

Parkson's first store will be developed through a joint venture with Yoma Strategic Holdings Ltd and First Myanmar Investment Company Ltd. Beyond that, the group aims to open a full-fledged department store at around 200,000 square feet in Yangon in three to four years, catering to the mid to upper-middle income segment.

"We are positive on the news as this would be an opportunity for Parkson to strengthen and expand its network in Myanmar by leveraging on its partners' expertise and strengths to gain first-mover advantage in the rapidly growing retail sector in the country," Kenanga said in a note on Tuesday.

The research house kept its 'market perform' call on the stock.

However, as of 0252 GMT, Parkson shares were down 1.7 per cent against the Malaysian benchmark stock index's 0.5 per cent drop. - Reuters

Kredit: www.nst.com.my

Isnin, 5 November 2012

NST Online Business Times : latest

NST Online Business Times : latest

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