{"id":223,"date":"2012-04-27T11:24:28","date_gmt":"2012-04-27T19:24:28","guid":{"rendered":"https:\/\/studentaffairs.utm.my\/speutmsc\/?p=223"},"modified":"2013-02-06T11:30:41","modified_gmt":"2013-02-06T19:30:41","slug":"seremban-engineering-was-awarded-its-first-oil-gas-job","status":"publish","type":"post","link":"https:\/\/studentaffairs.utm.my\/speutmsc\/2012\/04\/27\/seremban-engineering-was-awarded-its-first-oil-gas-job\/","title":{"rendered":"Seremban Engineering was Awarded Its First Oil & Gas Job"},"content":{"rendered":"

\"\"<\/p>\n

\u201cTo add to that, Seremban Engineering\u2019s current tender book is at RM48 million with an estimated success rate of at least 15 to 20 per cent, with 16 per cent in gross margin,\u201d Kenanga Investment Bank Bhd (Kenanga Research) noted in its research report.<\/p>\n

It also commented that the O&G fabrication job from Kencana would prove to be a big breakthrough for the company in the lucrative sector. As such, the research house expected financial year 2012 net profit to grow 40.4 per cent year-on-year to RM5.6 million from RM4 million financial year 2011.<\/p>\n

\u201cSeremban Engineering operates its process equipment fabrication businesses based on a cost-plus model. The contracts are in cost-reimbursement terms where the cost of materials and the amount of overhead incurred on jobs are borne by customers,\u201d explained the report. Hence the risk of cost overrun was minimal. Kenanga Research thus believed that the company was able to sustain its gross profit margin level at a favourable term.<\/p>\n

For financial year 2012, the research house projected Seremban Engineering\u2019s cost margin at 16 per cent, which was slightly lower compared to management\u2019s guidance of 18 per cent. It also expected the gross margin to improve gradually and be well maintained at around 18 per cent by financial year 2014. \u201cWe are projecting financial year 2012 to 2014 expected net profit of RM5.6 million to RM10.3 million, representing a three-year net profit compound annual growth rate of 31 per cent,\u201d Kenanga Research stated, adding that the company should benefit from a lower statutory tax allowance at 23 per cent.<\/p>\n

The company\u2019s fabrication yards comprising seven factories, to be fully operationally occupied from 2013 onwards. Together with the new income stream from the O&G industry, the research house forecasted financial year 2013 to 2013 estimated net profit of RM8.44 million and RM10.3 million respectively on the back of revenue of RM109.9 million and RM120 million respectively.<\/p>\n

source : Boneo Post 27\/4\/2012<\/p>\n","protected":false},"excerpt":{"rendered":"

\u201cTo add to that, Seremban Engineering\u2019s current tender book is at RM48 million with an estimated success rate of at least 15 to 20 per cent, with 16 per cent in gross margin,\u201d Kenanga Investment Bank Bhd (Kenanga Research) noted in its research report. It also commented that the O&G fabrication job from Kencana would […]<\/p>\n","protected":false},"author":4218,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[8],"tags":[],"class_list":["post-223","post","type-post","status-publish","format-standard","hentry","category-oil-and-gas-news"],"_links":{"self":[{"href":"https:\/\/studentaffairs.utm.my\/speutmsc\/wp-json\/wp\/v2\/posts\/223","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/studentaffairs.utm.my\/speutmsc\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/studentaffairs.utm.my\/speutmsc\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/studentaffairs.utm.my\/speutmsc\/wp-json\/wp\/v2\/users\/4218"}],"replies":[{"embeddable":true,"href":"https:\/\/studentaffairs.utm.my\/speutmsc\/wp-json\/wp\/v2\/comments?post=223"}],"version-history":[{"count":0,"href":"https:\/\/studentaffairs.utm.my\/speutmsc\/wp-json\/wp\/v2\/posts\/223\/revisions"}],"wp:attachment":[{"href":"https:\/\/studentaffairs.utm.my\/speutmsc\/wp-json\/wp\/v2\/media?parent=223"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/studentaffairs.utm.my\/speutmsc\/wp-json\/wp\/v2\/categories?post=223"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/studentaffairs.utm.my\/speutmsc\/wp-json\/wp\/v2\/tags?post=223"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}