<div class=newsTextDataWrapInner><p>KUALA LUMPUR (July 27): BIMB Securities Research has initiated coverage on SapuraKencana Petroleum Bhd (SAKP) with a “Buy” rating at RM2.39 and target price of RM2.63 and said that as one of the largest listed O&amp;G entity in the country, SAKP needs no further introduction for starter.</p></div>

<div class=newsTextDataWrapInner><p>“We initiate coverage on SAKP with a target price of RM2.63 which is derived by pegging a target PER of 15x over FY16 EPS estimate at 17.5 sen,” the research house said in a note today.</p></div>

<div class=newsTextDataWrapInner><p>The research house said SAKP stock price took a beating last year no thanks to a series of macro misfortune involving the global oil prices.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>“The exclusion of SAKP from the Shariah list last year further hammered its share price performance.</p></div>

<div class=newsTextDataWrapInner><p>“Fortunately SAKP had been included back in the list since May 2015,” it said.</p></div>


KUALA LUMPUR (July 27): BIMB Securities Research has initiated coverage on SapuraKencana Petroleum Bhd (SAKP) with a “Buy” rating at RM2.39 and target price of RM2.63 and said that as one of the largest listed O&G entity in the country, SAKP needs no further introduction for starter.

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BIMB Securities starts coverage on SapuraKencana, target RM2.63

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<p>A Philippine freight railway project may be built with the support of the US and Japan, an official in charge of it said, as Manila seeks alternative financing deals after dropping funding talks with China.</p>


<p>A highly anticipated Bitcoin software update called the “halving” has been completed, dealing a potential blow to the companies that make money by ensuring that the digital currency functions smoothly and securely.</p>


<p>Digital Nasional Bhd (DNB), the operator of Malaysia’s 5G telecommunications assets, said the process in relation to the subscription of its shares by five mobile network operators (MNOs) in this country is ongoing.</p>


<p>Approved road transport logistics companies will obtain “fleet cards” from select fuel retailers to purchase subsidised fuel under the diesel subsidy rationalisation programme, the Ministry of Finance (MOF) said.</p>


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