Sealink 3rd Q results

***** KUALA LUMPUR: SEALINK INTERNATIONAL BHD saw net profit for its third quarter (3QFY09) decline by 48% year-on-year to RM10.4 million from RM20 million. Revenue fell to RM61.6 million from RM83.3 million for the same period. According to the notes accompanying the announcement, the lower net profit was due to the timing of the sale of offshore support vessels (OSV). On a cumulative basis, for 9MFY09, Sealink reported a net profit of RM41.8 million compared to RM50.2 million from the previous year’s corresponding period. Going forward, Sealink is cautiously optimistic about the OSV industry but admitted that the road to recovery may be longer than expected. “We believe that Petronas may announce the awards for OSV contracts in the near future. These awards would be timely for the group as it has several OSVs that will be delivered in the first half of 2010,” said Sealink. Also due next year are the group’s ship repair facilities that will contribute additional revenue. *****The Edge So Q results for Sealink not so good lol.. hold / sell?.. ppl always say market trader always behave like this: if price up they active trade stock, if price drop they invest for long term.. haha.. Another OnG dai ko... Q report, no wander drop so "heong" in this few days.. ***** KUALA LUMPUR: Tanjong Offshore Bhd posted a net loss of RM10.28 million in its third quarter (3Q) ended Sept 30, compared with a net profit of RM5.08 million a year earlier, due mainly to the loss at its UK unit Citech Energy Recovery Systems UK Ltd (CERS). The company said CERS registered a net loss of £2.70 million (RM15.1 million) in the quarter and had ongoing late delivery charges payments and escalation of costs in its manufacture of waste heat recovery packages. Revenue for the quarter fell 21.3% to RM154.88 million from RM196.91 million. Loss per share stood at 4.18 sen, compared with earnings of 2.49 sen previously. "Recently, the group reshuffled the top management positions at CERS so as to have more direct involvement in the day-to-day operational matters. Moving forward, we hope to turn around the losses at CERS and register new sales for the financial year ending 2010," it said in the statement. For the nine months to September, net profit plunged 86.6% to RM2.46 million from RM18.35 million in the corresponding period of FY08, while revenue jumped 38.3% to RM513.4 million from RM371.13 million. The company said that it remained "cautiously optimistic" on prospects of the oil and gas industry in the international market . It said despite the losses registered in 3Q "we remain confident that we are able to overcome short-term losses" as the company continuously enhanced its services to the oil majors in Malaysia and overseas market. ***** Well well well... OnG... long term game, short term pain.... ^V^!!