THE main board listed integrated service provider of a range of products and services to the oil and gas and petrochemical industries has rallied strongly over the past three months in tandem with other oil and gas stocks on the KLSE. At yesterday’s close, Petra’s share price surged to RM9.05, compared with RM3.12 three months ago. The euphoria over Petra and other oil and gas stocks stems partly from optimism that contracts valued as much as RM50bil would be given out in the next 5 years as more oil activities are carried out by major companies such as Petronas Carigali and Shell.
THE country’s largest publicly traded water treatment company has seen some interesting developments in the past three months. In late June, Puncak Niaga shares rose on speculation that the company could benefit hugely from the government’s decision to privatise water services in Selangor and Kuala Lumpur for RM10bil. The rises gathered momentum when top company officials expressed confidence in being paid some RM800mil in trade receivables due from Perbadanan Urus Air Selangor Bhd.
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