Dialog / Dr Ngau Boon Keat

Dialog / Dr Ngau Boon Keat

Postby winston » Thu Oct 02, 2014 1:12 pm

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August 21, 2014

Dialog Group FY14 earnings up 11.6% to RM215.87m

KUALA LUMPUR: Dialog Group Bhd's earnings rose 11.6% to RM215.87mil in the financial year ended June 30, 2014 from RM193.29mil a year ago due to better performance by its Malaysian and international operations and higher contributions from its JV companies.

Dialog, which provides integrated technical services to the petroleum and petrochemical industry, said on Thursday its revenue rose 14.1% to a record of RM2.55bil from RM2.237bil.

The higher revenue was mainly contributed by the engineering and construction (E&C) activities. They were the Independent Deepwater Terminal project in Pengerang and Bitumen Terminal project in Tanjung Langsat.

"In addition, higher sales of specialist products & services and increased fabrication and plant maintenance activities had also contributed to the better performance by Malaysia operations," it said.

For the fourth quarter ended June 30, 2014, its earnings were flat at RM52.236mil when compared with RM52.235mil a year ago. Revenue was 5.4% lower at RM643.73mil versus RM680.59mil a year ago.

Earnings per share were 2.15 sen compared with 2.17 sen. It recommended a final single tier cash dividend of 1.1 sen per share based on the enlarged share capital after the one-for-one bonus issue in July 2014.

Source: The Star
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Re: Dialog

Postby winston » Thu Oct 02, 2014 1:15 pm

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June 27, 2014

Dialog Group regains bounce, boost from Pengerang project

KUALA LUMPUR: Oil and gas services related Dialog Group Bhd's share price rose to a high of RM3.82 on Friday - just three sen away from its record high of RM3.85 on June 20 - underpinned by a positive outlook about its investments.

At 3.15pm, it was up three sen to RM3.80, bucking the weaker overall market. There were 1.57 million shares done at prices ranging from RM3.79 to RM3.82.

The FBM KLCI fell 7.63 points to 1,882.34. Turnover was 1.07 billion shares valued at RM996.39mil. Decliners led advancers 413 to 294 while 320 counters were unchanged.

The interest in Dialog resumed after shareholders approved its one-for-one bonus issue and the proposed distribution of up to 21.17 million treasury shares on the basis of one for every 125 shares held.

It was also boosted after the official opening of Pengerang Independent Terminals Sdn Bhd's (PITSB) Phase 1A in Johor on Thursday by Datuk Seri Najib Tun Razak. The Prime Minister said PITSB might invest an additional RM16bil in the next 15 years to further develop the area to cater to future demand.

Dialog has a 46% effective stake in PIT Phase 1, Vopak has 44% and the Johor state has 10%.

AmResearch maintained its Hold call on Dialog Group with a higher sum-of-parts fair value of RM4.05 a share compared with an earlier RM3.40 a share.

It said this was comparable with its three-year average of 30 times. Upon completion of its proposed one-for-one bonus issue in 3QFY14, our fair value will drop to RM2.02 a share.

AmResearch said its higher sum-of-parts was after it included an assumed 40% stake in RM4bil liquefied natural gas (LNG) storage facilities which will have a capacity of up to 720,000 cubic metres.

Other factors were additional discounted cashflow contribution from its 20% stake in Roc Oil's production fields D35, D21, and J4 off Sarawak; and an assumed 30% discount from an additional RM6bil investment in Pengerang.

It also rolled forward of the target price-to-earnings valuations from FY15F to CY15F.

"We have likewise raised FY16F earnings by 10% to incorporate additional engineering, procurement, construction and commissioning works arising from the expansion of the PIT development," it said.

Source: The Star
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Re: Dialog

Postby winston » Thu Oct 02, 2014 1:18 pm

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July 16, 2014

Dialog Group up after bonus issue goes ex

KUALA LUMPUR: Shares of Dialog Group rose to a high of RM1.96 when its one-for-one bonus issue went ex on Wednesday but its two call warrants were in focus when they plunged to just one sen each.

At 11.30am, its shares were up three sen to RM1.93. Turnover was 2.92 million shares with shares trading between RM1.91 and RM1.96.

Its call warrants Dialog-CX jumped 14.5 sen to 30 sen after plunging to a low of just one sen. There were 1.6 million units done at prices ranging from one sen to 30 sen.

Dialog-CU fell 9.5 sen to nine sen. There were 440,100 units traded at prices ranging from one sen to nine sen.

Under the corporate exercise, the oil and gas-based company's bonus issue and distribution of up to 21.17 million treasury shares went ex on Wednesday. The distribution was on the basis of one treasury share for every 125 shares held on July 18.

Source: The Star
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Re: Dialog

Postby winston » Thu Oct 02, 2014 1:20 pm

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June 27, 2014

Dialog to invest RM16bil over 15 years in Pengerang

http://www.thestar.com.my/Business/Busi ... Pengerang/
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Re: Dialog

Postby winston » Thu Oct 02, 2014 1:21 pm

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June 26, 2014

Dialog says PDPT will attract up to RM90bil investments

Source: The Star
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Re: Dialog

Postby winston » Thu Oct 02, 2014 1:22 pm

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June 25, 2014

Dialog expects Pengerang to contribute one-third of income

http://www.thestar.com.my/Business/Busi ... ng-income/
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Re: Dialog

Postby winston » Fri Oct 03, 2014 4:41 am

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Dialog bucks weak market, could be worth RM3 by 2017

KUALA LUMPUR: Shares of Dialog Group Bhd rose to a high of RM1.80 at midday on Thursday, bucking the weaker market as UOB Kay Hian Malaysia Research keeps its buy call target price of RM1.95.

At midday, the oil and gas-related company was up seven sen to RM1.79. Turnover was 2.19 million shares done at prices ranging from RM1.72 to RM1.80.

The FBM KLCI was down 2.38 points or 0.13% to 1,842.94. Turnover was 978.62 million shares valued at RM679.13mil. Declining stocks beat advancers more than three to one, with 560 losers to 173 gainers and 263 stocks unchanged.

UOB Kay Hian Research retained its forecasts and reiterated its Buy recommendation on the stock as the company offers resilient earnings, underpinned by the projects it will undertake over the next three to five years.

The projects include the tank terminal expansion in Pengerang, enhanced oil recovery project with Haliburton, and marginal oilfield project with RocOil.

“For a large-cap stock, Dialog offers a respectable three-year earnings CAGR of 32.1% over FY14-16F. Immediate upside seems capped but stock could easily be worth RM3 by 2017,” it said.

The research house said despite the limited upside to its one-year target price, it has a BUY rating on Dialog as it sees the significant value Dialog offers its long-term shareholders.

“By 2017, more than 40% of Dialog’s fair value will be derived from its tank terminal business, where the earnings and cash flows are relatively certain and easy to predict.

“Valuation-wise, it may seem expensive currently at 29x FY15F PE but this is (to a large extent) driven by the significant incremental earnings streams that the company will enjoy once the multiple projects it is working on start contributing,” it said.

Source: The Star
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Re: Dialog

Postby winston » Fri Oct 03, 2014 10:25 am

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EPF Accumulating; Now 10.66% Stake


http://www.bursamalaysia.com/market/lis ... ts/1755341
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Re: Dialog

Postby winston » Thu Nov 20, 2014 2:19 pm

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CIMB Research sees stronger second half for Dialog Group

KUALA LUMPUR: CIMB Equities Research sees stronger earnings ahead in the second half for Dialog Group Bhd with more upstream contributions and from its Pengerang tank terminal.

It said on Wednesday maiden contributions from the production-sharing contract (PSC) for the D35, D21 and J4 fields and engineering, procurement, construction and commissioning (EPCC) activities at Phase 1C at the Pengerang tank terminal contributed to the 5% on-year growth in Dialog’s net profit in the first quarter ended Sept 30, 2014 (Q1, FY15)

“EBITDA margin advanced to 13%, the highest since 1Q12, thanks to the PSC’s upstream contributions. The absence of an interim dividend was expected,” it said.

CIMB Research said that EPCC works at Phase 1C (crude oil) are expected to be completed next month, while Phase 1B (petroleum products) is being commissioned for start-up.

Phase 1A, which achieved mechanical completion on March 31, 2014, has received more than 50 shipments since the first crude oil shipment on April 12, 2014.

While Phase 1 caters for crude oil and petroleum products, Phase 2 is being prepared for the construction of liquefied natural gas (LNG) regasification facilities in a partnership comprising Petronas Gas (65%), Dialog (25%) and the Johor state government (10%).

Phase 2 is slated to be operational by October 2017. In addition to its own developments in Pengerang, Dialog is eyeing EPCC opportunities at Petronas's US$27bn refinery and petrochemical integrated development (RAPID) next door.

“We expect more contributions from the D35, D21 and J4 fields to flow. Meanwhile, development works are ongoing at the Bentara field in the Balai marginal field cluster, while production enhancement and re-development activities continue at the Bayan enhanced oil recovery project.

“Upstream contributions from the PSC for three fields and Pengerang’s Phase 1C EPCC works were behind Dialog’s 5% growth in 1Q15 net profit, which broadly met expectations at 13% of our FY15 forecast and 17% of consensus estimates.

“We expect a stronger 2H on the operations of Phases 1A and 1B, and more upstream contributions as Dialog aims for another record year in FY15. Our target price drops marginally as we update our SOP calculation.

“We continue to value the stock at 21.2 times CY16 P/E, a 30% premium over our target market P/E of 16.3 times. Pengerang’s attractive outlook, which includes RAPID, is the potential re-rating catalyst that supports our Add call,” it said.

Source: The Star
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Re: Dialog

Postby winston » Thu Nov 20, 2014 2:21 pm

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Dialog sees no great impact from weak oil prices

KUALA LUMPUR: Dialog Group Bhd ( Financial Dashboard) will not be greatly impacted by declining global crude oil prices, Executive Chairman Tan Sri Dr Ngau Boon Keat said today.

Speaking to reporters after the group's annual general meeting, Ngau said this was due to Dialog's strategy of splitting its businesses evenly over the oil and gas support services sector spanning downstream, midstream and upstream activities.

"Low crude oil prices may affect the upstream business slightly. However, the midstream and downstream will be alright," he said.

"Usually when oil prices are down, transfer pricing to the downstream businesses is lower, which means there will be more money to allocate towards budgets for maintenance or expansion," he added.

Meanwhile, Ngau said construction of Phase 2 of the Pengerang Terminal would start in mid-2015, and is expected to be operational by end-2017.

Phase 2 will house storage terminals for liquefied natural gas and tankage for the Petronas' Refinery and Petrochemical Integrated Development (RAPID).

Source: The Edge
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