Oil and gas could be the next big thing for stock market players, in the remaing five months of the year, after the influential research firm, CIMB Investment Research said that a number of oil and gas companies were poised to register record earnings this year.
In a report late last week, CIMB Research said oil and gas companies such as Dialog Group Bhd, Perisai Petroleum Bhd, SapuraKencana Petroleum Bhd, Wah Seong Corp Bhd and Bumi Armada Bhd are expected to post their record high earnings this year.
Much of the research house optimism is tied to Petroliam Nasional Bhd's (Petronas) plan to boost output by developing new and marginal fields.
As early as last month, Petronas had announced that it plans to invest up to RM300 billion over the next five years, or up to RM60 billion a year, to develop new fields, and initiatives to develop marginal fields.
This is higher than the RM34.9 billion it invested during the financial year ended March 31, 2011.
Thus far this year, collectively the major publicly traded oil and gas companies have marginally out performed the key index.
Oil and gas counters on the average have appreciated by seven per cent this year, on a weighted average basis as opposed to the 6.8 per cent jump for the local bourse.
In a report late last week, CIMB Research said oil and gas companies such as Dialog Group Bhd, Perisai Petroleum Bhd, SapuraKencana Petroleum Bhd, Wah Seong Corp Bhd and Bumi Armada Bhd are expected to post their record high earnings this year.
Much of the research house optimism is tied to Petroliam Nasional Bhd's (Petronas) plan to boost output by developing new and marginal fields.
As early as last month, Petronas had announced that it plans to invest up to RM300 billion over the next five years, or up to RM60 billion a year, to develop new fields, and initiatives to develop marginal fields.
Thus far this year, collectively the major publicly traded oil and gas companies have marginally out performed the key index.
Oil and gas counters on the average have appreciated by seven per cent this year, on a weighted average basis as opposed to the 6.8 per cent jump for the local bourse.
No comments:
Post a Comment