KUALA LUMPUR: OSK Research Sdn Bhd (OSK Research) has described as positive the awarding of two contracts worth RM70 million to Perdana Petroleum Bhd’s (Perdana Petroleum) subsidiaries Intra Oil Services and Perdana Marine Offshore.
However, it said they were not revising their earnings forecast.
“This is because we had earlier factored in some orderbook replenishment for its vessels,” said the research house in a note yesterday.
Against this backdrop, OSK Research had downgraded the stock to ‘neutral’ from ‘buy’ given the limited upside to its fair value.
“As we make no changes to our financial forecast for this year, our fair value remains unchanged at RM1.17,” it added. —Bernama