Alam has received a Letter of Extension from ExxonMobil E&P
Malaysia for the extension of charter agreements for 1 unit of
accommodation barge and 1 unit of anchor handling tug (AHT)
vessel. The RM75m extension contracts are for 2 years for the
accommodation barge and 1 year for the AHT vessel, effective from
Oct-14.
Comment:
We are positive on the contract extensions but made no change to our earnings forecasts as the extensions are well anticipated. Maintain BUY with an unchanged TP of RM1.82 based on 14x CY15 PER.
Source: Affin Hwang Capital Research - 30 Sep 2014
Comment:
We are positive on the contract extensions but made no change to our earnings forecasts as the extensions are well anticipated. Maintain BUY with an unchanged TP of RM1.82 based on 14x CY15 PER.
Source: Affin Hwang Capital Research - 30 Sep 2014
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