Reflections on Volume

Big volume without further upside equals distribution
Big volume without further downside equals accumulation

Volume tends to peak at turning points
Volume often precedes price movement
Volume is a relative study

Wednesday, July 7, 2010

Kencana secures RM201m construction contract

Written by Joseph Chin Wednesday, 07 July 2010 17:51
KUALA LUMPUR: KENCANA PETROLEUM BHD []'s unit has secured a RM201.1 million contract from Houston-based Newfield Peninsula Malaysia Inc. to provide procurement and CONSTRUCTION [] services for topsides.
It said on Wednesday, July 7 the contract comprises of the procurement and construction wellhead platform topside, central processing platform topside, living quarters and bridge for PM329 East Piatu development project, located off Peninsular Malaysia.

"The contract value is estimated at approximately RM201.1 million. The contract is a one-off construction contract and is expected to be delivered in stages within the third quarter of 2011," it said.

Kencana expects the contract to contribute positively to its earnings for the financial years ending July 31, 2011 and 2012.


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