Bad weather and flattish demand to affect offshore player :

Bad weather and flattish demand to affect offshore player


The research house expects the group to post sequentially weaker earnings in the fourth quarter of financial year 2020, given the monsoon season, while Petronas has guided for flattish demand for offshore maintenance and hook-up and commissioning in 2021 as compared to 2020 levels.
to “market perform” following the recent increase in its share price and weaker outlook moving forward.
The research house expects the group to post sequentially weaker earnings in the fourth quarter of financial year 2020, given the monsoon season, while Petronas has guided for flattish demand for offshore maintenance and hook-up and commissioning in 2021 as compared to 2020 levels.
“Since our upgraded ‘outperform’ call in November 2020, the stock had already managed returns of some 14%.

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