PETALING JAYA: Coastal Contracts Bhd
’s recurring income business model, following its pivot into gas processing and potential upsides from further project wins, are factors that will lift its earnings.By June 2023, there will be earnings growth on the completion and commissioning of the EMC Papan plant – an engineering, construction, operation and maintenance of a gas conditioning plant and its related infrastructure in the Ixachi field in Veracruz, Mexico.
RHB Research said Coastal is also tendering for an oil processing plant project, which could be awarded in the fourth quarter of 2022 (4Q22).
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