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 in the market and backing our ideas with thoughtful research.
Just to recap, on the 19 June 2019, we published part one to “Cari-cari minyak, minyak sudah jumpa” with an introduction to the company and its financial history dating back to its pre-IPO days. On that day, Carimin’s opening price was RM0.77 and the stock closed marginally lower at RM0.755; a bad start. However, the stock did move upwards over the next few days and peaked as high as RM0.875 before ending the week at RM0.81 – up 5.2% since part one was published.
Over the weekend we published part two, our investment thesis on why we think Carimin is prime to benefit from the increase in MCM and HUC activities as well as its expansion into the sub-sea space. On Monday the stock opened at RM0.825 and closed at RM0.845 giving us a total return of 9.7% since part one was published.
The day before yesterday, we published part three with our earnings estimates, valuations as well as risks to our call – remember there are ALWAYS risks to an investment and you should not take anyone’s word, including ours as gospel. After part three was published, we began sending the FULL UNREDACTED report to our email subscribers. Remember you must subscribe to our mailing list to get our full research report. We presume it was well received as Carimin’s stock price moved 10.8% upwards just yesterday alone. While we would like to take credit for all of this, we also must recognise that overnight crude oil prices was up 3% which also helps!
Since part one was published, Carimin has posted a total return of 19.5% but as mentioned in the research report, there is still significant upside left. Please read our research report to understand out target price and how we derive it.
Thank you for the support and please stay tuned to Abath for more ideas and insights.
Abath Research 