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Carimin Petroleum

Carimin is renowned for its highly dedicated group of professionals, from the Management to all its highly trained on-site personnel in a full array of Oil and Gas industry-wide services.

They provide skilled personnel to the Oil and Gas industry for both onshore and offshore projects and facilities, from engineering and design, fabrication and construction, installation and commissioning, through to complete inspection and maintenance.

Its IPO price was Rm 1.10 in 2014. It has a 5 years contract with 2 years extension to provide their service to Petronas. Its share price has been dropping until it began to show profit. Its 1st quarter ending Sept 2018 EPS was 5.01 sen. Its projected annual EPS is about 20 sen.

Its share price has been going up in the last 2 weeks. In the last 2 trading days, it shot up 7 sen and 8 sen to close at 58 sen.

With such a profitable long term contract from Petronas, it deserves to sell at least P/E 8 that Rm 1.60 when it announced its annual profit in Aug 2019.  

Remember no share price can go up or come down continuously for whatever reasons. I think it has gone up too fast and it must correct itself because many day traders will have to sell.

Wait to buy during correction. Patience is the key for successful investing.   

I am obliged to tell you that I have started buying it a few weeks ago at cheaper prices and I do not need readers to buy to support the price to help me.    

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