Kenanga positive over Sapura Energy contract wins, but remains cautious

KUALA LUMPUR: Kenanga Investment Bank Research remains cautious over Sapura Energy's highly geared balance sheet and earnings delivery despite the group's recent contract wins.

"We feel that the company, being heavily exposed to the upstream value chains of oil and gas industry, stands to be hardly hit by the current oil down-cycle which may pose possible risk on further order-book replenishments.