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MANY counters have been heavily battered following the recent stock market meltdown, and they continue to trade at historically low valuations. What's even more attractive is that many counters, including some fundamentally good ones, have now become penny stocks and the list keeps growing as the bear continues its rampage on the market.
Malaysian oil and gas-related companies are banking on orders in hand to weather the tough economic outlook.
Oil and gas (OG) stocks largely fell yesterday, following the path of crude oil prices which declined towards levels of early this year. Oil prices traded US$1.29 a barrel lower at around US$105.05 at the New York Mercan-tile Exchange (Nymex) yesterday.
Alam Maritim Resources Bhd's 60%-owned subsidiary Alam Synergy III (L) Inc has signed a time charter party agreement with another 60%-owned subsidiary Workboat International FZCO for the charter of one diving support and maintenance vessel to be sub-chartered to the ultimate client, Saudi Aramco, for about RM46.23mil for one year. - Bernama