Apr 29, 2015

Barakah Offshore - Technical Outlook

Barakah Offshore Petroleum Berhad (Stock Code: 7251)

Barakah Offshore Petroleum Berhad is an investment holding company. The Company, through its subsidiaries, offers pipeline services, offshore transportation and installation, topside major maintenance and hook-up commissioning, onshore pipeline and construction, underwater services, and ship management and chartering.

Our medium (3-6 months) term target price for BARAKAH is RM1.30 hence offers an upside potential of around 40.5% from current level.barakah_technical_analysis by Affin Hwang Capital

The Company is principally an investment holding company whilst the principal activities of its subsidiaries PBJV Group Sdn Bhd is a pipeline service provider. From pipeline service provider PBJV expanded its business activities into offshore transportation and installation works hook-up and commissioning onshore construction underwater services and chartering of marine vessels and equipment.