KUALA LUMPUR: CIMB Equities Research is upbeat on UMW Oil and Gas on its record finish for FY13 with core net profit coming in at our forecast and 97% of consensus.
It said on Tuesday the strong financial performance was underpinned by higher charter rate for Naga 2, higher utilisation for Naga 3 and a full-quarter contribution from Naga 4.
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