OIL & GAS
STRONGER EARNINGS ANTICIPATED FOR ENRA IN COMING QUARTERS
Wednesday, 15 Aug 2018
Maintain hold with an unchanged fair value (FV) of RM1.85: Enra Group Bhd registered a first quarter ended June 30, 2018 (1QFY19) net profit of RM1.2 million (+17.9% year-on-year [y-o-y] mainly due to a higher contribution from the energy services division.
Despite making up only 12% of our full-year forecast, we reckon this to be in line with expectations as we expect stronger earnings in coming quarters with bigger contributions from its energy division and revenue recognition of its property development in London
ENRA’S 1Q PROFIT HELPED BY ENERGY, CHEMICAL BUSINESSES
Tuesday, 14 August 2018
Enra Group Bhd recorded a net profit of RM2.18 million in the first quarter (1Q) ended June 30, 2018, as compared to a net profit of RM1.6 million registered for the same period last year due to higher contribution from the group’s energy services division. Revenue for the period amounted to RM66.8 million, it exchange filing yesterday noted.
ENRA BUYS AUSTRALIAN SPECIALTY CHEMICALS DISTRIBUTOR FOR RM13.5M
Wednesday, 13 June 2018
KUALA LUMPUR (June 13): Enra Group Bhd is acquiring International Chemicals Engineering Pty Ltd (ICE), an Australian company involved in importing and distributing specialty chemicals in Australia and New Zealand.
The acquisition price will be a cash consideration of up to A$2.9 million (RM8.7 million) and the assumption of A$1.6 million of existing shareholders’ loans in ICE. The aggregate of these amount to A$4.5 million (RM13.5 million).
ENRA SELL 70% STAKE IN PROPERTY DEVELOPMENT FIRM FOR RM5.6M
Tuesday, 15 May 2018
KUALA LUMPUR (May 14): Enra Group Bhd has disposed of its 70% stake in property development firm Landmark Zone Sdn Bhd (LZSB) for RM5.6 million. "The divestment plan will enable Enra to monetise its investment in LZSB and provide the company with funds to reinvest in other more earnings accretive opportunities and to meet working capital requirements," the group said in a Bursa Malaysia filing.
ENRA SUBSIDIARY INSTALLS OFFLOADING AND STORING FACILITY OFF MYANMAR
Thursday, 03 May 2018
KUALA LUMPUR (May 3): Enra Group Bhd’s 60%-owned subsidiary Enra SPM Sdn Bhd (ESPM) has installed a single point mooring system (SPM) and storage tanker to support the production of gas condensate in Yetagun, an offshore gas field in the Andaman Sea, off the coast of Myanmar. In a statement today, Enra said the gas field is operated by Petroliam Nasional Bhd subsidiary PC Myanmar (Hong Kong) Ltd (PCML). It said the SPM and storage tanker provide condensate storing, as well as offloading facilities and services
Developer of residential and commercial projects in Kuala Lumpur and London, UK. The group also own retail, office and commercial space in Kuala Lumpur and Johor Bahru.
OIL & GAS
A multi-faceted oil & gas service provider for specialty chemicals, minor fabrication, specialised logistics, single point mooring systems and decommissioning engineering services
© 2016 ENRA Group Berhad. All Rights Reserved.