Bought 3000 shares of Scomi Marine Berhad

Written on June 10, 2009 – 1:10 am | by Kampung Boy |

I bought Scomi Marine Berhad (7158) yesterday, 3000 shares at RM 0.625. There are a few reasons why i picked Scomimr (short form).

Firstly, ScomiMR is an associate of Scomi group. Scomi group’s core businesses are oilfield services, energy and logistic engineering, energy logistic & production enhancement and production enhancement.

ScomiMR is incharge of the energy logistic department where ScomiMR duty is to provide marine vessels to the coal and oil & gas industry. In short, ScomiMR main business falls under oil & gas.

Here are the reasons why i picked ScomiMR :-

Oil & Gas

As we know oil & gas counter is making huge movement in KLSE. So ScomiMR falls under that creteria.

Low PE

ScomiMR PE is around 7+. Low PE counters are always my favorite. Lesser risk with higher potential of gain. (*Low PE does not guarantee profit)

Improved EPS

The earnings per share quarter to quarter improved from 1.43 to 1.52

Politically linked

Scomi Group is a politically linked counter. ScomiMR is an associate of Scomi. Enough said.

Screen Shot of transaction :-

As we know, it has been rather popular of late where people show their screen shot of their share purchases. So i will also do the same. Even brother horizon puts up screen shot of his transactions! ^^

Conclusion

I am pretty sure Scomi Marine Berhad won’t disappoint me. Time will tell whether i am right or wrong. ^^

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