Friday 29 Mar 2024
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KUALA LUMPUR (Jan 28): Diversified Ahmad Zaki Resources Bhd's (AZRB) oil and gas (O&G) division is expected to contribute up to 20% to group revenue within four years when its bunkering facilities at Kelantan's Tok Bali Port becomes operational.

AZRB (fundamental 0.55; valuation: 1.8) chief operating officer Datuk Roslan Tan Sri Jaafar said around 9% of AZRB's revenue and half of its profit came from O&G  business currently.

"The company will invest RM13 to RM 15 million to develop two marine oil tanks besides one water tank as well as ancillary facilities at the new port," Roslan said.

At 4.22pm, AZRB shares were traded flat at 71.5 sen, valuing the firm at RM344.7 million.

AZRB's other businesses include construction, property development and plantations.

(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)

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