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Hibiscus Petroleum on a roll

HIBISCUS Petroleum Bhd is clearly riding nicely on the upcycle of oil prices. On Thursday it posted a second-quarter profit that beat analysts’ expectations. And as Maybank Investment Bank (Maybank IB) Research points out, the profits have yet to take into account earnings from the recently completed acquisition of assets from Spain’s Repsol.

Hibiscus Petroleum acquires Repsol s upstream assets for $212m

Bitexco subsidiary to buy Spanish company owning two offshore oil fields

Bitexco subsidiary to buy Spanish company owning two offshore oil fields
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Trading ideas: Yenher, Kejuruteraan Asastera, Nestcon, Sime Darby Plantation

Yenher makes its listing debut today in the Main market of Bursa Malaysia. Kejuruteraan Asastera is partnering with the Philippines-based LCS Holdings Inc and ATS Venture Group Sdn Bhd to build and operate a telecommunication tower project in the Philippines. Nestcon has bagged a RM31.34mil contract to carry out rock stabilisation works at a mixed development on a 61-acre site in Damansara Perdana. Two experts on Sime Darby Plantation s human rights commission said they had resigned from the panel due to lack of transparency, in a potential setback for the company s efforts to overturn a US import ban. WCT said its wholly-owned subsidiary WCT Bhd (WCTB) and Meydan Group LLC have entered into a settlement agreement under which Meydan will pay WCTB 726.57 million United Arab Emirates dirham (RM828.25mil) in a full settlement linked to the Nad Al Sheba Dubai Racecourse contract dispute between both parties.

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