Someone emailed me regarding the cash position of O & G counters. The article is dated Jan 2011 so you need to figure whether the figures still hold. I can't verify these cos I haven't scrutinise the financial statements of those companies.
In cash positions are Dialog (RM 190 m), EPIC (73 m), MHB (1.1 b), P Gas (2.1 b), SapCres (76 m).
In debt are Alam (444 m), Dayang (47 m), Kencana (104 m), KNM (769 m), Petra (251 m), Tg Offs (498 m), W Seong (224 m).
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2 comments:
Quite alot of them are deep debt even though the last few year was supposed to be very bullish for the O&G.
Unfortunately much of local O&G business is derived from Gov't and Petronas spending/ contracts.
So the industry is heavily dependent on OIL exploration companies of Petronas, Exxon, Shell.
That's why O&G counters never form the core of my investment holdings. Similarly with standalone contractors.
For core, I prefer plantations, developers, utilities, bankings.
Just my opinion..
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