Pulsating with opportunities. We anticipate that the sector will see an
action-packed 18 months. O&G service providers are set to continue
enjoying sustained growth as demand for equipment and services increases
in light of rising activities in the sector. Against this backdrop, we
foresee three themes featuring prominently: (i) a strong pipeline of
offshore fabrication awards; (ii) contract flows for floating solutions
and (iii) continuous awards for marginal/rejuvenation projects. The
sector remains an Overweight with SapuraKencana, Bumi Armada and MMHE as
top picks in the large cap, and Perisai, Yinson in the mid-small caps.
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Source: Maybank Research - 18 July 2012
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