AmResearch maintains Buy on Alam Maritim Resources

KUALA LUMPUR: AmResearch is maintaining a Buy on Alam Maritim Resources with an unchanged fair value of RM2.05 a share, pegged to a FY14F price-to-earnings (PE) of 16 times, which was at parity to the oil & gas sector.

The research house said it was positive on the group's further expansion into the group's underwater services as Alam hopes to secure parts of the RM1.2bil to RM1.5bil contracts, which were earlier extended to Offshoreworks Group, currently in financial distress.

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AmResearch , Alam Maritim Resources , Offshoreworks Group , underwater services , underwater inspection , repair and maintenance

   

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