Risk factor
Very poor trading liquidity
Profitability factor
Excellent dividends
About
Founded in 1989 and headquartered in Kuala Lumpur, Malaysia, Carimin Petroleum Berhad operates as an investment holding company that provides a comprehensive array of technical and engineering support to upstream oil and gas entities across Malaysia. The company structures its operations into five distinct segments: Manpower Services; Construction, Offshore Hook Up and Commissioning and Topside Major Maintenance; Marine Services; Civil Construction; and a general 'Others' category. Carimin's diverse offerings span the final installation, testing, and operational commissioning of production platform facilities, alongside substantial topside and subsea maintenance, repair, and rejuvenation projects. It also delivers marine services, including vessel chartering, maintenance, and offshore transportation, in addition to the engineering, procurement, fabrication, and construction of marine structures and offshore electrical and instrumentation systems. Further capabilities encompass personnel provision, geophysical surveys, and general contracting for oil and gas ventures. The company actively supplies, rents, and maintains specialized industrial equipment, such as engineering work barges and construction machinery, while also overseeing fabrication yards, asset management, and project equipment logistics. Its expertise extends to civil contracting, geotechnical engineering, quality assurance, integrated inspection, engineering consultancy, and comprehensive project management and advisory services. To support its extensive business activities, Carimin also manages internal corporate functions including human capital, finance, supply chain, and business development.
Company Valuation
From both historical and forecast perspectives, the stock is underpriced compared to similar stocks. Specifically, the stock is fairly valued on P/E, neutral on EV/EBITD.