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Dialog Group Bhd's share price fell to its lowest in over three years at RM2.58 at Bursa Malaysia's afternoon break today after the oil and gas support services provider reported yesterday its first full-year net profit drop in 16 years to RM543.14 million for financial year ended June 30, 2021 from RM630.36 million a year earlier. ....
Velesto Energy’s NAGA (dragon) 7 jack-up drilling rig that sunk offshore Malaysia last month while under contract to ConocoPhillips will be abandoned. The ....
Analyst upgrades Velesto after rig working for ConocoPhillips sinks off Malaysia The sinking of Velesto Energy’s NAGA (dragon) 7 jack-up rig offshore Malaysia has prompted investment firm CGS-CIMB to upgrade the drilling company as the closed-door investigation into the accident continues. Updated: 12/05/2021, 4:34 am Velesto Energy s Naga-7 jack-up drilling rig sinks off Malaysia Register here for the Energy Voice daily newsletter, bringing you key news and insight from across the global energy landscape. Thank you for signing up to our newsletter. Something went wrong - please try again later. Sign Up The sinking of Velesto Energy’s NAGA (dragon) 7 jack-up rig offshore Malaysia has prompted investment firm CGS-CIMB to upgrade the drilling company as the closed-door investigation into the accident continues. ....
KUALA LUMPUR (May 5): The sinking of Velesto Energy Bhd’s Naga 7 rig offshore Sarawak yesterday has prompted CGS-CIMB to upgrade the company to add while raising its target price to 19.5 sen from 17 sen prior. Calling it a possible “blessing in disguise”, analyst Raymond Yap said the valuation impact of the sunk rig may be positive as its insurance claims may exceed the written-off net book value (NBV) which is estimated at RM400 million. “First, the Naga 7 is fully insured and the insurance value is pegged to the outstanding debt secured on the rig,” he said. He believes that the insurance claims are conservatively worth RM350 million, but could exceed the NBV of the rig. ....
Broker's take: SIA to benefit from air traffic recovery, say analysts businesstimes.com.sg - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businesstimes.com.sg Daily Mail and Mail on Sunday newspapers.