KUALA LUMPUR (Oct 29): RHB Research has valued soon-to-be listed Carimin Petroleum Bhd at RM1.07 by ascribing a 10% discount to the industry average of 12.1x P/E, pegging Carimin to a 10.9x P/E.
In a note Wednesday, the research house said Carimin was predominantly involved in the provision of support services for the offshore oil and gas industry in Malaysia.
“The company is one of the HuC umbrella contract holders, given out by Petronas with a current orderbook of RM900.8 million.
“We value Carimin at RM1.07, by ascribing a 10% discount to the industry average of 12.1x P/E, pegging Carimin to a 10.9x P/E,” it said.
http://www.theedgemarkets.com
In a note Wednesday, the research house said Carimin was predominantly involved in the provision of support services for the offshore oil and gas industry in Malaysia.
“The company is one of the HuC umbrella contract holders, given out by Petronas with a current orderbook of RM900.8 million.
“We value Carimin at RM1.07, by ascribing a 10% discount to the industry average of 12.1x P/E, pegging Carimin to a 10.9x P/E,” it said.
http://www.theedgemarkets.com
