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BARAKAH Offshore Petroleum Bhd (code: 7251) looked to have hit bottom at 28.5 on Tuesday, which set the stage for a technical rebound and some price recovery. A sudden surge in buying interest on Thursday and some follow-through buying on Friday lent confirmation of an uptrend, adding to hopes that the stock can break free of its descending pattern. It, however, has several difficult hurdles to overcome. (2-0)
PETALING JAYA: Petroliam Nasional Bhd (Petronas) has painted a sombre picture on the oil and gas (O&G) industry, stating that the requirement for assets such as rigs would be half from three years ago. (8-0)
KUALA LUMPUR: Barakah Offshore Petroleum Bhd ’s unit, PBJV Group Sdn Bhd, has entered into a consortium agreement with Brooke Dockyard and Engineering Works Corp and Samling Energy Sdn Bhd to jointly bid for oil and gas related projects in Sarawak. (6-0)
THE already high cost of living is about to get higher in the coming months and Malaysians should brace themselves for it.
PETALING JAYA: Tan Sri Mohd Isa Abdul Samad has played a major role in Felda since assuming the chairman’s position in June 2011.
MarketWatch: High-flying semiconductor stocks may be poised for more losses in the coming weeks as a large swath of chip names reports quarterly results in a sector that may have run up too far for some investors. Investors will parse earnings from 40% of the components in the PHLX semiconductor index over the next month. - Reuters
Felda chairman Tan Sri Shahrir Abdul Samad(pic) said he hoped to see changes in Encorp with a view that the property group further improve on its performance and returns.
KUALA LUMPUR: Maybank Investment Bank has maintained its “sell” call on Barakah Offshore Petroleum with an unchanged target price of 13 sen, based on one time EV/replacement value.
MarketWatch: US stocks edged higher on Monday, led by gains in technology stocks as investors were optimistic ahead of earnings.
Barakah's pipelay barge Kota Laksamana 101. United Power Group Holdings, which is owned by the Yaw family, is now the second largest shareholder in Barakah.
BARAKAH Offshore Petroleum Bhd (Barakah; Code: 7251) shares tumbled to an all-time low of 57 sen on June 6 after a long bearish phase, hit by persistent liquidation pressure.
Tags / Keywords: Corporate News , Oil & Gas , Barakah Offshore Petroleum Bhd , Petroliam Nasional Bhd
Tags / Keywords: Corporate News , Oil & Gas , Barakah Offshore Petroleum Bhd , Petronas Dagangan Bhd
THE participation of Saudi Arabia’s state-owned oil company Aramco in the refinery and cracker project within the Pengerang Integrated Petroleum Complex (PIPC) has spillover benefits on companies that are already active in and around the 22,000-acre development in Johor.
KUALA LUMPUR, Jan 17 — All members of Felda Investment Corporation Sdn Bhd’s (FIC) Board of Directors have been ordered to resign to facilitate reorganisation of the company.