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MarketScreener Homepage  >  Equities  >  BURSA MALAYSIA  >  MISC    MISC   MYL3816OO005

MISC

(MISC)
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MISC : FSO GOLDEN STAR ACHIEVES FIRST CONDENSATE IN VIETNAM

12/04/2020 | 10:28am EDT

Malaysia Vietnam Offshore Terminal (L) Limited (MVOT)'s FSO Golden Star has successfully received the first condensate for the Sao Vang and Dai Nguyet (SVDN) Project offshore Vietnam on 16th November. MVOT is a 51% MISC Berhad (MISC) owned joint venture with PetroVietna Technical Services Corporation (PTSC).

FSO Golden Star with a storage capacity of about 700,000 barrels of condensate was successfully converted and sailed away from Malaysia Marine and Heavy Engineering's West Yard on 16 November 2020 for the SVDN Project in Blocks 05-1b and 05-1c, offshore Vietnam for Idemitsu Gas Production (Vietnam) Co. Ltd.

MISC's President & Group Chief Executive Officer, Mr. Yee Yang Chien said, 'Congratulations to FSO Golden Star for achieving this landmark condensate amidst the challenging and unprecedented global pandemic. I would like to take this opportunity to thank our client- Idemitsu Gas Production (Vietnam) Co. Ltd.for their trust and confidence placed on our team at MVOT. Our sincere appreciation to our joint venture partner - PetroVietnam Technical Services Corporation for the successful collaboration and commitment to deliver the best to our client'.

'To all the project teams and subcontractors, well done and thank you for your dedication and commitment in prioritising safety throughout the entire project leading to FSO Golden Star's successful sail away and first condensate. This milestone achievement marks another success for MISC in further expanding the Group's presence in Vietnam and strengthening its footprint as one of the leading players in providing floating offshore solutions in South East Asia,' he added.

FSO Golden Star is MISC's 2nd floating asset that operates in Vietnam waters together with FPSO Ruby II. Being converted from the donor vessel YASA Golden Horn, FSO Golden Star is designed to remain in continuous service at the field for a minimum of 7 years without dry docking.

END -

(C) 2020 Electronic News Publishing, source ENP Newswire

Stocks mentioned in the article
ChangeLast1st jan.
MALAYSIA MARINE AND HEAVY ENGINEERING HOLDINGS 3.36% 0.615 End-of-day quote.36.67%
MISC 0.44% 6.9 End-of-day quote.0.44%
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Financials
Sales 2021 10 446 M 2 531 M 2 531 M
Net income 2021 1 991 M 482 M 482 M
Net Debt 2021 7 962 M 1 929 M 1 929 M
P/E ratio 2021 15,4x
Yield 2021 4,57%
Capitalization 30 800 M 7 466 M 7 463 M
EV / Sales 2021 3,71x
EV / Sales 2022 3,61x
Nbr of Employees 8 632
Free-Float 25,2%
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Technical analysis trends MISC
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Mean consensus BUY
Number of Analysts 15
Average target price 7,96 MYR
Last Close Price 6,90 MYR
Spread / Highest target 29,0%
Spread / Average Target 15,3%
Spread / Lowest Target -6,52%
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Managers and Directors
NameTitle
Yang Chien Yee President, Group CEO & Executive Director
Encik Raja Azlan Shah bin Raja Azwa Chief Financial Officer & Vice President-Finance
Abu Huraira Abu Yazid Chairman
Ausmal bin Kardin Joint Secretary, VP-Legal & Compliance
Nasarudin bin Mohammed Idris Independent Non-Executive Director