<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Nov 4): RHB Research Institute has lowered the target price (TP) for Alam Maritim Resources Bhd to RM1.12 from RM1.35 amid a “cautious” outlook for the oil &amp; gas sector.</p></div>

<div class=newsTextDataWrapInner><p>This was despite Alam's announcement yesterday it had secured a RM31.7 million contract to demobilize a floating storage facility and possibly secure a short-term contract for 1MAS-300 pipelay barge.</p></div>

<div class=newsTextDataWrapInner><p>“We believe they are insufficient to lift the stock’s sentiment amid the current cautious outlook,” said RHB research analyst Kong Ho Meng in a note today.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>Still, he raised FY14F earnings per share by 5% to account for the contract win and another possible short-term contract.</p></div>

<div class=newsTextDataWrapInner><p>Kong maintained his “neutral” call for the stock.</p></div>

<div class=newsTextDataWrapInner><p>He said the contract secured could be similar to the decommissioning job carried out for M3nergy’s Perintis floating, production, offloading and storage located offshore Terengganu.</p></div>

<div class=newsTextDataWrapInner><p>Kong expects Alam Maritim to perform the engineering phase of the work with its 50% joint-venture, Alam Swiber Offshore SB.</p></div>

<div class=newsTextDataWrapInner><p>Alam Maritim traded unchanged at RM1.07, with 471,600 shares done at 2.35 pm.</p></div>


KUALA LUMPUR (Nov 4): RHB Research Institute has lowered the target price (TP) for Alam Maritim Resources Bhd to RM1.12 from RM1.35 amid a “cautious” outlook for the oil & gas sector.

This was despite Alam's announcement yesterday it had secured a RM31.7 million contract to demobili...

RHB lowers Alam Maritim TP to RM1.12 amid 'cautious' O&G outlook

KUALA LUMPUR (April 18): Former Umno youth exco Wan Muhammad Azri Wan Deris, better known as Papagomo, submitted a representation to drop the charge against him for allegedly making seditious remarks linking the government to pro-Israel and pro-Western countries last year.

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China reported a steady rate of youth unemployment in March, after an official warned that joblessness among young Chinese needs more scrutiny.

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<p>Asian stocks crept higher in a mixed session on Thursday, while the dollar took a breather and bond markets steadied as investors stepped back to assess the interest rate outlook.</p>


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<p>Alphabet-owned Google&nbsp;is laying off an unspecified number of employees, a company spokesperson said on Wednesday, marking the latest cuts at the technology giant as it cracks down on costs.</p>


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<p>Bursa Malaysia turned mixed at the midday break on Thursday with the key index ending the morning session in positive territory, in tandem with regional markets, said a dealer.&nbsp;</p>


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<p>Axiata Group Bhd, Malaysia’s largest telecommunications company by revenue, and India’s Bharti Airtel Ltd signed a definitive agreement on Thursday to combine their Sri Lankan operations.</p>


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