Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: TDS :: ACCOUNTING STANDARDS :: form 3cd :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TAX RATES - GOODS TAXABLE @ 4% :: list of goods taxed at 4% :: articles on VAT and GST in India :: ACCOUNTING STANDARD :: Central Excise rule to resale the machines to a new company :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: due date for vat payment :: cpt :: empanelment :: VAT RATES :: VAT Audit
 
 
« Mergers and Acquisitions »
 The Deal Economy Conference Reveals Upbeat Forecast for Mergers & Acquisitions in 2017
 Mergers and acquisitions almost halve over three months following Brexit vote
 Mergers & acquisitions: a lesson in cyber-security complacency and reputational ruin
 Notable Mergers and Acquisitions 12/5: (CNSL)/(FRP) (CX) (FDML)
 What is Triggering the Wave of Mergers & Acquisitions in the Indian Internet Space?
 Oil and gas mergers and acquisitions are finally making a comeback
  Mergers: Commission approves acquisition of St Jude Medical by Abbott Laboratories, subject to conditions
 Mergers and Acquisitions: What’s Happening in the OFS Industry?
 Mergers: Commission approves acquisition of St Jude Medical by Abbott Laboratories, subject to conditions
 Prediction: These 8 Companies Will Get Bought in 2017
 Third Quarter Results Show Continued Strength in Mergers and Acquisitions

Mergers and acquisitions strengthen
March, 06th 2010

The fourth quarter of last years reporting season drives home the point that size matters in the oil and gas sector.

According to CIMB Investment Bank Bhd (CIMB Investment), cash rich companies were looking to flex their financial muscles and snap up attractive assets this year.

It pointed out Kencana Petroleum Bhd was building a war chest while Petronas Dagangan Bhd might tap its RM1 billion cash pile for acquisitions and Wah Seong Corporation Bhd was eyeing depressed assets in West Africa and Europe.

The research house expected that the news flow to be active this year with close to RM10 billion worth of contracts up for grabs in Malaysia, India, Papua New Guinea and Australia would potentially lead to share price re-ratings.

It added that SapuraCrest Petroleum Bhd (SapuraCrest) currently topped the order book list with RM15.5 billion.

Meanwhile, CIMB Investment stated that the oil and gas sectors fourth quarter performance last year was broadly in line with expectations with five of the seven companies in its portfolio meeting its forecast.

It observed two trends during the quarter that were higher demand for services fuelled record net profits and the performance of petroleum retailers and refiners continued to improve. The research house observed that the sector was anchored by swelling order books and prudent management.

CIMB Investment pointed out that an expanding order book, geographical expansion, new strategic assets and higher charter rate underpinned its view that SapuraCrests annual net profits would scale new highs from 2010 to 2012.

It stated that the company remained as Outperform and its top oil and gas pick.

The research house was encouraged by the sectors fourth quarter performance last year.

It stated that all signs were now pointing to a stronger set of numbers this year.

It added that a steady oil price of around US$80 per barrel was favourable for the sector.

The research house also stated that an improving economic environment meant that companies should benefit from the recovery of global economies which would lead to the burning of more fuel.

CIMB Investment pointed out that merger and acquisition (M&A) possibilities added to the sectors attraction.

It added that all its stock recommendations, earnings forecast and target prices were also unchanged.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Software Development Software Programming Software Engineering Custom Software Development Requirement Based Software Development Software Solutions Software Serv

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions