[%KSSo%] 
Research by RHB
Neutral – TP of MYR 1.64

“Liftboat Contract Extension” 

Keep NEUTRAL and MYR1.64 TP, 5% downside. Although we are optimistic over Coastal Contracts’ announcement of an extended liftboat contract, we remain cautious over the slow job wins and its venture into the tourism industry. Meanwhile, the stronger income from COCO’s two gas plants, in our view, will offset the income loss of the jack-up gas compression service unit (JUGCSU) during the ongoing contract extension discussions.

Analyst(s):
Miza Izaimi
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Sean Lim, CFA
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$KLSE-COASTAL 
Research by RHB
Neutral – TP of MYR 1.64

“Liftboat Contract Extension” 

Keep NEUTRAL and MYR1.64 TP, 5% downside. Although we are optimistic over Coastal Contracts’ announcement of an extended liftboat contract, we remain cautious over the slow job wins and its venture into the tourism industry. Meanwhile, the stronger income from COCO’s two gas plants, in our view, will offset the income loss of the jack-up gas compression service unit (JUGCSU) during the ongoing contract extension discussions.

Analyst(s):
Miza Izaimi
miza.izaimi@rhbgroup.com
Sean Lim, CFA
sean.lim@rhbgroup.com