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Wednesday, June 11, 2014

RHB Research maintains Overweight on O&G sector;Dayang, Dialog, Perisai & Muhibbah top Buys (Edge)

RHB Research has maintained its Overweight rating on the oil and gas sector and said the sector underperformed in the May results season, due to: i) a slowdown in work orders, ii) high operating costs, and iii) a seasonally weak 1Q.

In a note Monday, the research house advised investors to stay invested in the sector on a potential earnings recovery and fluid contract news flow in 2HFY14.

“Our top Buys are Dayang, Dialog Group, Perisai Petroleum and Muhibbah Engineering, while Petronas Chemicals Group is our top Sell,” it said.

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