Federal just released its
2Q2017 quarterly result: As of 24 July 2017, the Group’s committed
order book was S$42.0 million, including the procurement contract for the
Zawtika Development Project Phase 1C. Basic 2Q2017 EPS is 0.87 cents, an increase of
10.1% over the same quarter in 2016.
I think the recent sell-off
of Federal shares was overdone and the good result should bring back the
confidence of its shareholders to buy more or hold their shares while waiting
for more good news to come with the many initiatives launched by its management.
I agree with what Executive
Chairman and CEO, Mr Koh Kian Kiong, of Federal has shared on the company’s
positive set of financial results and its business outlook: Even though the
offshore marine and oil and gas sectors continue to face difficulties, our Group
is heartened to maintain our profitability in face of such a tough operating
environment. Our management will continue to employ a prudent approach in
growing our order books by setting up strategic partnerships with strong
partners to co-bid for more valuable projects in the region especially in
Indonesia. We are very delighted to sign-up partners that have excellent track
record in the business like CMIH, COOEC and PT Timas etc. Our Group is hopeful
that these strategic partnerships will soon bear fruits for all parties
involved and enhance shareholder value moving forward.
I know Federal will have a solid quarterly result in its 4th quarter if history is anything to go by and I believe Mr Koh will start its accumulation of Federal's shares again as the barring period for him to buy has been lifted with the release of the quarterly results.
I know Federal will have a solid quarterly result in its 4th quarter if history is anything to go by and I believe Mr Koh will start its accumulation of Federal's shares again as the barring period for him to buy has been lifted with the release of the quarterly results.
Superphang
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