Published: Monday January 7, 2013 MYT 9:03:00 AM
The research house said on Monday it expects Malaysia's offshore O&G activities to pick up in 2013 as various ongoing projects move into their installation/ implementation stages.
"As a standalone contractor as well as a subcontractor to SapuraKencana Petroleum and Global Offshore, we believe Alam Maritim is set to benefit from the higher sector activities, scoring higher new OIC contract wins (up to RM200mil) and achieving better utilisation rate for its pipelay barge, 1Mas-300.
"Similarly, we forecast the demand for underwater services to improve in 2013, resulting in higher utilisation rate and better profitability (from minor losses in FY11-12)," it said.
Affin Research said it came to understand Alam Maritim's management is exploring various options to streamline its corporate structure where half of its fleet are now owned by various joint venture companies and associates.
It said a streamlined holdings structure for its fleet, if it materialises, may be a prelude for more M&A activities.
No comments:
Post a Comment