Thursday, May 31, 2012

SapuraKencana Petroleum: Maintain Buy - Seadrill reduces stake

Maintain Buy and TP at MYR2.68. Seadrill's move to reduce its stake (-6%) in SapuraKencana is not unexpected and is consistent with its strategy in monetising gains from its investments. Fundamentally, this does not alter our perspective on SapuraKencana, which stays a Buy.

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Source: Maybank Research - 31 May 2012

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