13 May 2012
Perisai Petroleum: Week 19 (7-11 May) Stock Picks Commentary
Stock Picks #3
Perisai Petroleum Teknologi (PERISAI)
Week high : 95.6 sen (Up 7.5 sen – 8.4%)
On 8 May, Perisai Petroleum announced that they have secured a US$ 208 million contract from Sembcorp Marine to build drilling rigs, to be completed by July 2014
Market reacted positively as the additional US$ 208 million will help Perisai fill its order book until July 2014 which may also have a potential to boost earnings in the near future.
PERISAI stock rose 8.4% (7.5 sen) since 8 May to week’s highest 95.6 sen on 11 May and closed at 93.5 sen at the end of this week.