PublicInvest Research remains cautious on promising Sapura Energy contract wins

KUALA LUMPUR: PublicInvest Research remains cautious about the execution of Sapura Energy Bhd's projects even though the group’s contract wins ensure visibility to its topline numbers for the next few years.

The research firm maintained its 'underperform' call on the integrated oil and gas services company’s shares with the target price of two sen per unit, given its liquidity constraints to cater to such sizeable contract values despite some clients possibly providing advances to ensure the successful completion of the projects.