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Top Calls
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Company Update � Petra Energy (BUY,
maintain)
- Small hiccup, turnaround remains in motion Petra Energy (PENB) remains a strong contender to win the upcoming modification, construction and maintenance (MCM) contract from Petronas, which is to be split into 6 packages. We are cutting our 2017E net profit in light of the correction in global oil prices of late, which may lead to slower work execution in the near term. We are also trimming our 2018-19E earnings after tweaking some balance sheet items. As a result, we lower our TP to RM1.55 (from RM1.66), but reaffirm our BUY call.
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Other Calls
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For
important disclosures, please refer to the Disclosure section at the end of
the individual linked research reports. |
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