Stock Name: Ramba
Company Name: RAMBA ENERGY LIMITED
SIAS Research in a May 17 research report says: "Ramba’s 1Q revenue rose 19.4% y-o-y to $16.0 million on the back of higher revenue from the O&G segment (mainly due to higher production and selling prices from Jatirarangon) and logistics segment (supported by new contracts). "However, the bottom line was dragged by a $1.3 million provision for doubtful cash call from a joint venture partner of PT Hexindo Gemilang Jaya, a subsidiary of Ramba. There was also a dispute over the investment agreement by Verona Capital (Verona) in West Jambi and Ramba is currently evaluating its options. "In view of the current cautious macroeconomic environment, we are lowering our profit per barrel of oil to US$10. Intrinsic value of 75 cents. MAINTAIN INCREASE EXPOSURE."
Company Name: RAMBA ENERGY LIMITED
| Research House: SIAS | Price Call: BUY | Target Price: 0.75 |
SIAS Research in a May 17 research report says: "Ramba’s 1Q revenue rose 19.4% y-o-y to $16.0 million on the back of higher revenue from the O&G segment (mainly due to higher production and selling prices from Jatirarangon) and logistics segment (supported by new contracts). "However, the bottom line was dragged by a $1.3 million provision for doubtful cash call from a joint venture partner of PT Hexindo Gemilang Jaya, a subsidiary of Ramba. There was also a dispute over the investment agreement by Verona Capital (Verona) in West Jambi and Ramba is currently evaluating its options. "In view of the current cautious macroeconomic environment, we are lowering our profit per barrel of oil to US$10. Intrinsic value of 75 cents. MAINTAIN INCREASE EXPOSURE."
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