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Thursday, December 15, 2011

Dialog Group – Bids and pieces from dialogue with management. (CIMB)

The investor meeting wearranged for Dialog’s management yielded a nice surprise, i.e. its aggressive plan to bid for 2-3 more marginal field contracts next year. This exciting development comes hot on the heels of the award of Balai marginal field contract in Aug. We are thrilled with this latest development which could give
Dialog additional sources of long-term earnings. We maintain our Buy call and continue to value the stock at its SOP of RM3.64, which does not factor in the new marginal fields.

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