We at Abath would like to thank our followers and subscribers for an amazing start to the blog. We truly appreciate the support and belief afforded to us in the past week or so. Our mission is simply to make the market more efficient by identifying companies that are worth more than what is reflected … Continue reading Woah, thanks for the belief!
Month: June 2019
Forecasts Admittedly, it is difficult to forecast Carimin's financials accurately as it depends on the work schedule permitted by PETRONAS, additional work orders, weather, unplanned delays, etc which is not readily available. However, we can formulate guestimates by deriving the relative growth between PETRONAS' forecast TMM/MCM and HUC man hours between 2018 and 2019. For … Continue reading Carimin Petroleum – Cari-cari minyak, minyak sudah jumpa (Part 3)
Investment thesis Major contract underpins earnings prospects On 2nd October 2017, Carimin secured a contract from PETRONAS Carigali for the provision of maintenance, construction and modification (MCM) services (Package C Offshore Peninsular Malaysia Oil) for a period of five years with an option to extend for one year. Other local contractors that won an MCM … Continue reading Carimin Petroleum – Cari-cari minyak, minyak sudah jumpa (Part 2)
Business description Carimin is primarily a domestic oil & gas service provider specialising in: 1) Construction, Hook Up, Commissioning (HUC) and Top Side Major Maintenance (TMM), 2) Manpower Services (MPS) and 3) Marine Services (MS). Following the prolonged downturn in crude oil prices, Carimin also diversified into civil construction (CC) in 2017. Financial history In … Continue reading Carimin Petroleum – Cari-cari minyak, minyak sudah jumpa (Part 1)
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