December 22, 2014 12:49 PM ET

Energy Equipment and Services

Company Overview of Perdana Petroleum Berhad

Company Overview

Perdana Petroleum Berhad, an investment holding company, provides marine offshore support services for the upstream oil and gas industry in Malaysia, Singapore, and Marshall Islands. It provides work barges and workboats for on-board accommodation and work facilities for offshore personnel; vessels for towing, mooring, and anchoring of non-self propelled barges, rigs, floating storage and off-loading vessels, and floating production storage and off-loading vessels; and transportation of drilling, production, and project materials and chemicals. The company owns and operates 13 vessels, which include 8 anchor handling tug supply vessels, 7 work barges, and 2 work boats. It is also involved in...

No. 6-8, Jalan Seri Utara 1

Seri Utara

Batu 7

Jalan Ipoh

Kuala Lumpur,  68100

Malaysia

Founded in 1988

Phone:

60 3 6257 1111

Fax:

60 3 6257 7708

Key Executives for Perdana Petroleum Berhad

Perdana Petroleum Berhad does not have any Key Executives recorded.

Perdana Petroleum Berhad Key Developments

Perdana Petroleum Berhad Declares an Interim Single Tier Dividend for the financial Year Ending December 31, 2014, Payable on December 22, 2014

Perdana Petroleum Berhad declared an interim single tier dividend of 2 sen per ordinary shares of MYR 0.50 each in respect of the financial year ending December 31, 2014. The dividend is payable on December 22, 2014 to the shareholders of December 12, 2014. The Ex-dividend date is December 10, 2014.

Perdana Petroleum Berhad Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014

Perdana Petroleum Berhad announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the third quarter, the company reported revenue of MYR 93,824,000 against MYR 68,174,000 a year ago. Profit before taxation was MYR 27,718,000 against MYR 15,786,000 a year ago. Profit for the period was MYR 27,012,000 against MYR 15,872,000 a year ago. Profit for the period attributable to equity holders of the company was MYR 27,013,000 or 3.57 sen per fully diluted share against MYR 15,514,000 or 2.91 sen per fully diluted share a year ago. The increase in revenue is mainly due to higher vessel utilization and increase in the number of vessels in the current quarter. The significant increase in profit before taxation in the current quarter is mainly due to higher revenue generated, in spite of the decrease in other income MYR 5.5 million and increase in administrative cost and finance cost totaling MYR 7.9 million in the current quarter. For the nine months, the company reported revenue of MYR 269,668,000 against MYR 196,609,000 a year ago. Profit before taxation was MYR 74,224,000 against MYR 44,262,000 a year ago. Profit for the period was MYR 73,039,000 against MYR 40,686,000 a year ago. Profit for the period attributable to equity holders of the company was MYR 73,041,000 or 9.67 sen per fully diluted share against MYR 39,774,000 or 7.62 sen per fully diluted share a year ago. Net cash from operating activities was MYR 94,162,000 against MYR 81,071,000 a year ago. Purchase of property, plant and equipment was MYR 101,338,000 against MYR 232,202,000 a year ago. The significant increase in turnover and profit before taxation is mainly due to higher vessel utilization and increase in the number of vessels. The average vessel utilization has improved from 78% in the previous period to 93% in the current period.

Perdana Petroleum Berhad Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014

Perdana Petroleum Berhad reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported revenue of MYR 88,574,000 compared to MYR 71,656,000 a year ago. The increase is mainly due to higher vessel utilization, increase in the number of vessels and charter rates in the current quarter. Profit before taxation was MYR 24,143,000 compared to MYR 15,306,000 a year ago. The significant increase in profit before taxation in the current quarter is mainly due to higher revenue generated, in spite of the increase in administrative cost and finance cost totaling MYR 7.2 million in the current quarter. Profit attributable to equity holders of the company was MYR 24,012,000 or 3.17 sen per diluted share compared to MYR 13,166,000 or 2.37 sen per diluted share a year ago. Net assets per share attributable to ordinary equity holders of the parent was MYR 0.82. For the six months, the company reported revenue of MYR 175,844,000 compared to MYR 128,435,000 a year ago. Profit before taxation was MYR 46,506,000 compared to MYR 28,476,000 a year ago. Profit attributable to equity holders of the company was MYR 46,028,000 or 6.10 sen per diluted share compared to MYR 24,260,000 or 4.36 sen per diluted share a year ago. Net cash from operating activities was MYR 53,464,000 compared to MYR 57,833,000 a year ago. Purchase of property, plant and equipment was MYR 95,339,000 compared to MYR 120,569,000 a year ago.

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