@terence775 I'm personally still bullish on $CARIMIN / 5257 (CARIMIN PETROLEUM BERHAD) and find it a potential laggard play for 2nd half of the year.

For one, its share price have not moved as much as its main peers in its main business - like $DAYANG / 5141 (DAYANG ENTERPRISE HOLDINGS BERHAD) and $PENERGY / 5133 (PETRA ENERGY BERHAD), or even if compared to the likes of other marine services players like $PERDANA / 7108 (PERDANA PETROLEUM BERHAD) or the newly listed KEYFIELD.

The reason could be due to a pretty disappointing past 2 quarter results which can be expected due to low season (monsoon) leading to low utilisation of vessels, as well as - according to channel checks - a dry docking in the December quarter which caused them to incur cost plus revenue loss.

But a combination of better full swing utilisation at high DCR RM150k per day should bode well for CARIMIN (calculate yourself and use a % as a margin). Historically Q1 and Q4 is also the strongest for the company.

Lastly, the impairement write back - despite being a non cash item - will help to make FY24 a record year for the company, and as you pointed out - they're also one of the few NET CASH oil n gas companies in Malaysia.