Uzma Berhad

@LittleShare @weiwenn928 @boncos @zhexiangxd it's sad to see weakness in oil n gas names. Sector was supposed to be a bright spark this year onwards but due to squabble between Sarawak and Petronas, it got dragged down.

Additionally - now that Trump had won, there's pressure on oil price.

Regardless, opex spending will continue and capex too (despite what could be a lower amount), both leading to continuous earnings potential from the companies within the sector. Hopefully fundamentals will eventually prevail.

$CARIMIN / 5257 (CARIMIN PETROLEUM BERHAD) $DAYANG / 5141 (DAYANG ENTERPRISE HOLDINGS BERHAD) $PERDANA / 7108 (PERDANA PETROLEUM BERHAD) $UZMA / 7250 (UZMA BERHAD) $DELEUM / 5132 (DELEUM BERHAD)

$UZMA / 7250 (UZMA BERHAD)
Research by TA Securities

PETALING JAYA: Uzma Kuala Muda Sdn Bhd, an indirect wholly owned subsidiary of Uzma Bhd, has achieved the commercial operation date (COD) for its 50 megawatt alternating current large scale solar photovoltaic plant under the Large Scale Solar (LSS) Cycle 4 project on Sept 25.

PETALING JAYA: Uzma Kuala Muda Sdn Bhd, an indirect wholly owned subsidiary of Uzma Bhd, has achieved the commercial operation date (COD) for its 50MWac large scale solar photovoltaic plant under the Large Scale Solar (LSS) Cycle 4 project on Sept 25.

KUALA LUMPUR: Malaysia Marine and Heavy Engineering Sdn Bhd (MMHE) has secured a subcontract award from Uzma Bhd’s unit Uzma Engineering Sdn Bhd (UESB) for the conversion works of a mobile offshore drilling unit (MODU) into a mobile water injection facility (WIF).

© New Straits Times Press (M) Bhd

PETALING JAYA: Malaysia Marine and Heavy Engineering Holdings Berhad (MMHE) has secured a subcontract award from Uzma Bhd involving the demolition, refurbishment, life extension and conversion of a mobile offshore drilling unit (MODU) into a mobile water injection facility (WIF).

$UZMA / 7250 (UZMA BERHAD)

PETALING JAYA: Uzma Bhd has accepted a contract award from PTTEP Sarawak Oil Ltd (PTTEP) for the provision of one hydraulic workover unit (HWU) and associated services for PTTEP, pursuant to the latter’s letter of award dated July 4, 2024 and subsequently approved on Aug 5. 2024.

$UZMA / 7250 (UZMA BERHAD)

Uzma Looking to Sell Hydrocarbon Fuel to Arafura Energies and Australia Nuigini

Uzma Bhd's subsidiary, Jannatul Firdaus International Sdn Bhd has entered into an expression of interest (EOI) with Arafura Energies Ltd and Australian Niugini Services for the sale and purchase of hydrocarbon fuel and product.
‌
Arafura Energies is a provider of refined petroleum products in Papua New Guinea.
‌
While, Australian Niugini is a company that specialises in procurement, supply chain, site management, hospitality support, food sourcing, real estate development, construction, mining and exploration services and telecommunication.
‌
In its filing with Bursa Malaysia today, Uzman said all parties shall negotiate in good faith and enter into a master sale and purchase agreement for the sale and purchase of hydrocarbon fuel.
‌
It said the hydrocarbon fuel shall be delivered to Arafura Energies and Australian Niugin at the loading port or the discharge port depending on the method of delivery chosen under the confirmation notice.
‌
" The duration of the EOI is for a period of one year commencing from July 12 2024 until July 11, 2025," it said.
‌
According to Uzma, the EOI is expected to contribute positively towards the earnings and net assets per share of the company for the financial year ending June 30, 2025 and onwards until the expiry of the EOI period.
‌
However, potential risk factors include project operational and execution risks, work schedules, delivery timelines and adverse weather conditions, it added.
‌
Uzma's share price was down 1.7 to RM1.14, giving it a market capitalisation RM491.9 million.

$UZMA / 7250 (UZMA BERHAD)

Source: https://cutt.ly/2eg6zms1

PUBLIC INVEST TOP PICKS 2H 2024

Push(ing) The Limits

Sentiment has been noticeably buoyant in the first half of 2024. This is more the result of a lack of “bad news” and/or market-shaking negative developments (i.e. geopolitical flare-ups, more acute supply chain disruptions, etc) however, rather than stark improvements in global economic conditions which have remained steady. Highlight of the first half has to be the artificial intelligence-driven fervour which, amongst others, saw the share price of industry-darling NVIDIA rocket >+170% higher year-to-date to catapult the company above Microsoft Inc. as the most valuable (public-listed) globally, at a point.

For 1H 2024, our view was for investors to “Stay the Course”, expecting that market conditions would be better, underpinned by healthier economic growth domestically (which has been fulfilled), a steadier earnings growth picture (which has been reflected) and traction from the various growth frameworks unveiled last year (relatively positively news flows), amongst others.

While risk premiums have risen with the risk-reward balanced skewed slightly to the downside, we think there is still sufficient reason to remain exposed to the local market, suggesting that investors “Push the Limits”.

We continue to favour names with multi-year growth stories to capture upsides from relatively steady global and domestic economic conditions. Kawan Food and QES Group are included alongside CIMB Group, Dayang Enterprise, Inari Amertron, Uzma, D&O Green Technologies and Mega First Corporation as picks going into 2H 2024. CCK Consolidated, IJM Corporation and QL Resources are replaced

$MFCB / 3069 (MEGA FIRST CORPORATION BERHAD) $QES / 0196 (QES GROUP BERHAD) $DAYANG / 5141 (DAYANG ENTERPRISE HOLDINGS BERHAD) $UZMA / 7250 (UZMA BERHAD) $KAWAN / 7216 (KAWAN FOOD BERHAD)

OTHERSEXPRESSION OF INTEREST TO COLLABORATE IN SPACE SATELLITE SOLUTIONS

NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) : FUND RAISINGUZMA BERHAD ("UZMA" OR THE "COMPANY")

PRIVATE PLACEMENT OF UP TO 15% OF THE TOTAL NUMBER OF ISSUED SHARES OF UZMA (EXCLUDING TREASURY SHARES, IF ANY) ("PRIVATE PLACEMENT")

Additional Listing Announcement /Subdivision of Shares

NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) : FUND RAISINGUZMA BERHAD ("UZMA" OR THE "COMPANY")

PRIVATE PLACEMENT OF UP TO 15% OF THE TOTAL NUMBER OF ISSUED SHARES OF UZMA (EXCLUDING TREASURY SHARES, IF ANY), AT AN ISSUE PRICE TO BE DETERMINED LATER ("PRIVATE PLACEMENT")

General Meetings: Outcome of Meeting

ERRATA TO THE CIRCULAR TO SHAREHOLDERS IN RELATION TO THE PROPOSED PRIVATE PLACEMENT OF UP TO 15% OF THE TOTAL NUMBER OF ISSUED SHARES OF UZMA (EXCLUDING TREASURY SHARES, IF ANY), AT AN ISSUE PRICE TO BE DETERMINED LATER ("PROPOSED PRIVATE PLACEMENT") (Amended Announcement)

CIRCULAR TO SHAREHOLDERS IN RELATION TO THE PROPOSED PRIVATE PLACEMENT OF UP TO 15% OF THE TOTAL NUMBER OF ISSUED SHARES OF UZMA (EXCLUDING TREASURY SHARES, IF ANY), AT AN ISSUE PRICE TO BE DETERMINED LATER ("PROPOSED PRIVATE PLACEMENT") AND NOTICE OF EXTRAORDINARY GENERAL MEETING

General Meetings: Notice of Meeting

$UZMA / 7250 (UZMA BERHAD)
Research by PIB
Outperform – TP of MYR 1.48

“Seasonally Weak Result”

Uzma posted a weaker core net profit of RM9.3m in 3QFY24, dipping by 14.3% YoY due to higher operating costs with an increasing number of staff during the period despite recording higher revenue by 23.7%. On a QoQ basis, core net profit also decreased by 35.0% due to lower activity amid the monsoon season during the period. Overall, Uzma’s 9MFY24 core net profit of RM38.0m is deemed to have met our full year target at 67% considering the seasonally weaker 3Q, though exceeding consensus estimates at 82% due to the latter’s more bearish assumptions. The outlook for both oil and gas (O&G) and new energy (NE) segments remain intact on the back of long-term contracts secured that will contribute recurring earnings from FY25F onwards. We maintain our Outperform call but with a lower TP of RM1.48 (pegging to an unchanged 11x PE multiple on FY25F EPS) after considering full dilution from the incoming private placement.


Analyst(s):
Khairul Fahmi, CFA
khairul.fahmi@publicinvestbank.com.my

Change in Boardroom - DATIN ROZITA BINTI MAT SHAH @ HASSAN

Quarterly rpt on consolidated results for the financial period ended 31/03/2024

KUALA LUMPUR: Uzma Bhd's latest contract from ExxonMobil Exploration 

© New Straits Times Press (M) Bhd

PETALING JAYA: Uzma Bhd has received a letter of award from ExxonMobil Exploration and Production Malaysia Inc (EMEPMI) for non-rig assisted, electric wireline logging equipment and services in West Malaysian waters.

OTHERSAWARD OF CONTRACT FOR THE PROVISION OF ELECTRIC WIRELINE LOGGING (EWL) EQUIPMENT AND SERVICES NON-RIG ASSISTED (NRA) FOR EXXONMOBIL EXPLORATION AND PRODUCTION MALAYSIA INC. ("EMEPMI") ("CONTRACT")

Today, RHB IB launched their highly anticipated RHB Small Cap Top 20 Jewels 2024 Edition together with their 20th anniversary. Happy to be invited to attend their launch ceremony at RHB centre and have the honour of sitting at the front row.

Without further ado, here are some footages as well as highlights and summary of their 2023 picks and 2024 picks. They also cover Singapore, Indonesia and Thailand markets as well, but in this post I will focus mainly on their Malaysia market picks.

To outline the definition of small cap here, they are PLCs that are less than 500mil USD market capitalisation. Screening methodology based on 3 broad criterias: Quantitative, Qualitative and Thematic trends.

So, how did the Malaysia market picks for 2023 edition performed:
Top 20 Malaysia Small Cap Jewels 2023 outperformed the broad market, delivering a holding period return of 46.4% v.s. FBM KLCI’s and FBM SC’s returns of 13.0% and 21.4%.

The best performing picks last year was $MCEHLDG / 7004 (MCE HOLDINGS BERHAD), which they also included in the 2024 Jewels actually, and is the only one that is brought forward! Following closely is $VSTECS / 5162 (VSTECS BERHAD), and then $UZMA / 7250 (UZMA BERHAD), WASEONG (now known as WASCO), PIE, LEESK.

Now, moving forward, for 2024 edition:
Their picks are at an average market capitalisation of MYR545m and ROE of 11.2%. Spanning 9 diverse sectors, names from the industrial products & services, technology, construction, consumer products & services sectors make up 70% of their picks. Out of the 20 listed, only 4 are listed on Main Market, the rest are in the Ace Market.

Auto & Autoparts – NHFATT
Basic Materials – PA
Construction – INTA, KIMLUN, MUHIBAH
Consumer Products & Services – ABLEGLOB, KAREX, SHANG
Healthcare – UMC
Industrial Products & Services – AWC, ENGTEX, MCEHLDG, SCOMNET, YBS
O&G – DELEUM
Real Estate – AVALAND
Tech – CLOUDPT, OPPSTAR, QES, TTVHB

Once again, thanks for having me @rhbtradesmartmy . Looking forward to seeing how the Top 20 Jewels 2024 will perform this year, and of course I’ll be tuning into the upcoming 2 PLCs’ management livestreams with $CLOUDPT / 0277 (CLOUDPOINT TECHNOLOGY BERHAD) and $KAREX / 5247 (KAREX BERHAD) this Saturday!

Here's the link for those who want to register for the session this Saturday: https://cutt.ly/cee86tai

$UZMA / 7250 (UZMA BERHAD)
Research by PIB
Outperform – TP of MYR 1.70

“Strengthening Regional Footprint”

Moving forward, Uzma aims to increase revenue diversification within the region, mainly from Indonesia and Thailand, which could be achieved by pioneering Electrical Submersible Pump (ESP) solutions. We maintain our Outperform call and TP RM1.70 (though potentially reducing to RM1.48 after full subscription of the private placement exercise).

Analyst(s):
Khairul Fahmi, CFA
khairul.fahmi@publicinvestbank.com.my

$UZMA / 7250 (UZMA BERHAD)
$HIBISCS / 5199 (HIBISCUS PETROLEUM BERHAD)

OTHERSAWARD OF CONTRACT FROM PTTEP INTERNATIONAL LIMITED FOR THE PROVISION OF STANDARD AND SPECIAL APPLICATION OF COILED TUBING AND PUMPING SERVICES FOR ZAWTIKA OPERATIONS (BACKUP CONTRACT)

NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) : FUND RAISINGUZMA BERHAD ("UZMA" OR THE "COMPANY")

PROPOSED PRIVATE PLACEMENT OF UP TO 15% OF THE TOTAL NUMBER OF ISSUED SHARES OF UZMA (EXCLUDING TREASURY SHARES, IF ANY), AT AN ISSUE PRICE TO BE DETERMINED LATER ("PROPOSED PRIVATE PLACEMENT")