Latest news with #WOA
The Star
02-07-2025
- Business
- The Star
Trading ideas: Gamuda, Avangaad, Avaland, Powerwell, Perdana Petroleum, Key Asic, Samaiden, Kerjaya Prospek, LFG, CCIB
KUALA LUMPUR: Stocks that may see trading interest today include Gamuda Bhd , Avangaad Bhd, Avaland Bhd , Powerwell Holdings Bhd , Perdana Petroleum Bhd (PPB), Key Asic Bhd , Samaiden Group Bhd , Kerjaya Prospek Group Bhd , Lianson Fleet Group Bhd (LFG) and CC International Bhd (CCIB). Gamuda has signed a landmark deal with Tasmanian landowners to co-develop up to 600 MW of wind and solar energy plus 600 MW of battery storage, marking its first major renewable energy venture in Australia. Avangaad, formerly known as EA Technique Bhd, has secured a total of RM66.8mil in new contracts from Northport (Malaysia) Bhd, contributing to revenue growth in its port and tugboat operations. Avaland is acquiring a parcel of leasehold development land measuring 2.2-acres in Section 13, Petaling Jaya from Comit Communication Technologies (M) Sdn Bhd for RM49mil. Powerwell's wholly-owned subsidiary, Kejuruteraan Powerwell Sdn Bhd (KPSB), has accepted four purchase orders worth RM16.6mil for the supply of switchboards and components to a hyperscale data centre project in Elmina Business Park, Selangor. PPB has accepted a work order award (WOA) from a Petroleum Arrangement Contractor (PAC) for the provision of one anchor handling tug and supply vessel. Key Asic has secured a RM13.1mil artificial intelligence (AI) chip design contract from a leading technology company. Samaiden is proposing to acquire two parcels of agricultural land in Teluk Intan, Perak, measuring approximately 185.57 hectares from Kelapa Sawit (Teluk Anson) Sdn Bhd for RM45.5mil. Kerjaya Prospek, through its wholly-owned subsidiary, Senandung Raya Sdn Bhd, has acquired three pieces of freehold land measuring a total of 2.9941 hectares at Jalan Puchong, Kuala Lumpur for a total purchase consideration of RM112.8mil. LFG indirect wholly-owned subsidiary, Omni Victory (L) Inc., has entered into a memorandum of agreement (MOA) for the proposed disposal of Omni Victory for RM32.02mil to Huashun Shipping (Liberia) Inc. CCIB, via its indirect wholly-owned subsidiary, Indah Secretarial (Penang) Sdn Bhd, has entered into a share purchase agreement to acquire the entire issued shares of Alpadis Trust (Labuan) Ltd for US$750,000.
The Star
04-06-2025
- Business
- The Star
Delay in major Uzma project remains a concern
The order book could grow by RM1bil following Uzma's latest win. PETALING JAYA: The delay in Uzma Bhd 's major project has caused analysts to be concerned about the impact on its earnings despite the substantial new contract wins of the oil and gas (O&G) company. UOB Kay Kian (UOBKH) Research stated the sailaway of the Sara water injection facility (WIF) to offshore Sabah site would likely be delayed to October this year or February next year instead of the April 2025 target due to various client-requested design changes. 'Uzma can deliver the WIF in October, but it will encounter the monsoon when it arrives at Hibiscus Petroleum's offshore site in Sabah. Under this scenario, Uzma may have to bear the high transportation and installation costs. 'Therefore, from a project cost perspective, it is better to sail away in February 2026 (but also means the startup will miss financial year 2026 (FY26) completely),' the research house stated. On the positive side, Uzma has grown its order book to RM4.1bil as of April but unfortunately many of the projects are small, UOBKH Research added. The order book could grow by RM1bil following Uzma's latest win. It has secured a two-year long-term charter contract from PETRONAS Carigali for the seismic vessel WOA, from March 14, 2025 to March 13, 2027. The contract involved comprehensive seismic data acquisition across Peninsular Malaysia and Sabah, in addition to providing ancillary services such as catering, according to Phillip Capital Research. It expected the charter to contribute about RM10mil in annual profit to Uzma. Uzma's order book growth was primarily O&G-driven (with O&G comprising 74% mix), and the bulk of the growth came from the production service segment, which surged from RM1.1bil to RM2bil quarter-on-quarter. Uzma will miss its five-year internal target of a recurring income mix of 60% due partly to the delay risk of Sara-WIF. 'We believe this downside risk is fully priced in, but recommend a wait-and-see approach for earnings delivery and the (environmental, social and governance) development. 'Retain 'buy' and target price (TP) of 76 sen a share,' UOBKH Research noted in its latest report on the company following a briefing with Uzma's management. The valuation is at an unchanged price earnings (PE) multiple of eight times. Phillip Capital Research also retained its 'buy' rating on Uzma with a TP of 76 sen a share, based on eight-times PE on FY26 earnings per share. The stock is currently trading at an attractive four-times forward FY26 PE, with a forward dividend yield of 5% providing additional support to the share price.
