We are now on to a Very Powerful Bull run time in Oil & Gas Boom Time like never before
Both Good Value Stocks Have Gone up 100% to 300% like Carimin, Naim, Dayang, Penergy & Others (Velesto only yet to run)
Now even speculative stocks hobbled by debts like Perdana, Alam, Sapnrg & others are also joining the race upward one by one
NOW CALVIN TAN RESEARCH HAS UNCOVERED 2 LAGGARD O&G STOCKS STILL WITH UPSIDE POTENTIAL
The 2 Stocks are DESTINI (7212) & MHB (5186) Also known as Malaysian Marine & Heavy Engineering
The Fresh News Award yesterday caused frenzied buying in Destini & pushed it into Top Volume today
So I went to check up on it
A GOOD SURPRISE INDEED!!
DESTINI BERHAD ("DESTINI" OR "COMPANY") LETTER OF AWARD- PROVISION FOR TUBULAR HANDLING, CONDUCTOR INSTALLATION AND SLOT RECOVERY EQUIPMENT AND SERVICES FOR PETROLEUM ARRANGEMENT CONTRACTORS' ("PAC") OPERATORS' DRILLING PROGRAM
The Board of Directors of Destini is pleased to announce that, Destini Oil Services Sdn Bhd (“DOS”), a wholly-owned subsidiary of Destini, had on 4 December 2018 received a letter of award for the provision for tubular handling, conductor installation and slot recovery equipment and services for PAC Operators’ Drilling Program (“Letter of Award”) for Sarawak Shell Berhad (“Shell”) (“Contract”).
Further details of the Contract are set out in the attachment below.
This Announcement is dated 13 March 2019.
A check with DESTINI Revealed an NTA of 44 Sen. So at 32 sen now there is a 28% discount (Near to Ben Graham margin of safety at 30% discount to NTA benchmark)
Its debts are longer term & backed by Assets. Current debt also very manageable. Looks very healthy compared to Perdana which has surged up in price
By all yardsticks DESTINI IS DESTINED TO RUN UP MORE IN THIS O&G BULL RUN TIME
AND EVEN INSIDERS HAVE BEEN BUYING & BUYING AS HIGH AS 70 sen & STILL HOLDING 9OF COURSE THEY KEPT UP BUYING WHILE CHEAP
2) MHB ( 5186) MALAYSIA MARINE & HEAVY ENGINEERING
THIS ONE IS CASH RICH WITH 37 SEN NET CASH
SELLING AT DEEP DISCOUNT TO NTA
SECURED 2 LONG TERM 6 YEAR PROJECTS WITH BOTH PETRONAS & SAUDI ARAMCO
CAN BUY SOME & KEEP AS JOBS WILL BE PLENTY THIS YEAR
PLEASE BUY OR SELL AFTER DOING YOUR OWN DUE DILIGENCE
TARGET PRICE FOR DESTINI IS 60 SEN
TARGET PRICE FOR MHB IS RM1.30