- Maintain BUY; TP unchanged at MYR3.05. Dialog is understood to be in a strong position to clinch an oil and gas field rejuvenation job with Halliburton for the Bayan field off East Malaysia.
- While the contract, estimated to be worth MYR1b, would be financially positive, we are unable to quantify Dialog's role and earnings impact for now.
- We continue to like Dialog's business model, balance sheet strength and focused management. Our TP is based on SOP valuations.
Source: Maybank Research - 22 August 2012
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