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KUALA LUMPUR: Kenanga Research has initiated coverage on Petron Malaysia Refining & Marketing Bhd with a “market perform” recommendation and target price of RM4.65. ....
KUALA LUMPUR: Kenanga Research has initiated coverage on Petron Malaysia Refining & Marketing Bhd with a “market perform” recommendation and target price of RM4.65. ....
KUALA LUMPUR (May 24): Driven by the jump in crack spread prices, the shares of Hengyuan Refining Co Bhd and Petron Malaysia Refining and Marketing Bhd, which are exposed to the downstream refining business, have surged 85.3% and 62.8% respectively year to date, outperforming the Bursa Malaysia Energy Index’s 21% gain. ....
KUALA LUMPUR (May 23): Petron M Refining & Marketing Bhd said it has received a notice of arbitration from MTC Engineering Sdn Bhd seeking RM50.5 million for alleged outstanding additional costs from a project. ....
A rebound in global oil prices has put local refiners Hengyuan Refining Co Bhd and Petron Malaysia Refining and Marketing Bhd back on the radar of investors as evident in their more than 100% jump in share price in just over a month or so. Last Friday, Brent oil hit the US$50/barrel mark for the first time since early March, and could inch further north as global economies recover from the Covid-19 pandemic. As it has been about three years since Hengyuan and Petron reached a peak in their share price, shareholders will be pleased to see the stocks regaining traction since oil rebounded from March lows. ....