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MarketScreener Homepage  >  Equities  >  BURSA MALAYSIA  >  Sapura Energy Bhd    SAEN   MYL5218OO002

SAPURA ENERGY BHD (SAEN)
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Sapura Energy Bhd : JV secures RM3b EPCIC contract

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12/07/2018 | 03:32pm CET

Sapura Energy Bhd and a consortium partner have received a RM3bil engineering, procurement, construction, installation and commissioning (EPCIC) contract from India`s Oil and Natural Gas Corp.

Sapura Energy`s wholly owned Sapura Fabrication Sdn Bhd is entitled to about RM1.47bil of the contract value as it has a 48.3% stake in the partnership with Afcons Infrastructure Ltd.

The consortium is currently undertaking the EPCIC works at the central processing platform (CPP) and living quarters for the KG-DWN 98/2 NELP block.

"The block, located offshore the Godavari Delta on the east coast of India, covers an area of approximately 7,295km of the Krishna-Godavari basin with water depth ranging between 300m to 3,200m," said the group in a statement.

"The new contract win enhances the companys presence in the growing market and Sapura Energy is pleased to continue its contribution to Indias oil and gas industry and in helping to meet the countrys increasing energy demand.

"The project is an opportunity for Sapura Energy to participate in a key development for ONGC, leveraging on the companys established deepwater knowledge and capabilities."

Consortium partner Afcons is the construction arm of Shapoorji Pallonji Group, India`s leading engineering and construction conglomerate.

Trading in Sapura Energy shares has been halted from 2.30pm to 3.30pm on Thursday. The counter ended the morning session up 0.5 sen at 34 sen a share on the back of 14.06 million shares traded

(c) 2018 ITP Business Publishing Ltd. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

Stocks mentioned in the article
ChangeLast1st jan.
OIL AND NATURAL GAS CORPORATION LTD -1.65% 137.1 End-of-day quote.-28.53%
SAPURA ENERGY BHD --End-of-day quote.
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Financials (MYR)
Sales 2019 5 653 M
EBIT 2019 307 M
Net income 2019 236 M
Debt 2019 13 883 M
Yield 2019 0,31%
P/E ratio 2019 -
P/E ratio 2020 29,17
EV / Sales 2019 2,83x
EV / Sales 2020 2,07x
Capitalization 2 097 M
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Mean consensus OUTPERFORM
Number of Analysts 18
Average target price 0,51  MYR
Spread / Average Target 46%
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Managers
NameTitle
Shahril bin Shamsuddin President, Group CEO & Executive Director
Hamzah bin Bakar Chairman
Ahmad Zakiruddin Mohamed Senior Vice President-Operations
Reza bin Abdul Rahim Group Chief Financial Officer
Hamid bin Bugo Senior Independent Non-Executive Director
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