KUALA LUMPUR: MIDF Research is maintaining its "buy" recommendation on Sapura Energy Bhd
as it expect the group to sustain its quarterly profits into FY22.
The research house said Sapura Energy's ongoing cost optimisation initiatives will stretch into FY22 with about RM500mil to be realised during the year while stable crude oil prices will sustain work orders and margin from its E&C segment.
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