Kencana Petroleum Berhad, an investment holding company, provides integrated engineering and fabrication solutions for oil and gas industry in Malaysia. It undertakes various engineering and fabrication works for onshore and offshore production facilities, which include initial consultation, conceptualisation, detailed design, engineering drawing, model building, procurement of raw materials and components, fabrication, transportation and delivery, and installation and commissioning. The company also involves in the engineering, construction, and commissioning of oil and gas facilities, oil and gas pipelines, storage tanks, water supply system for power plants, and water pipelines; and design, engineering, and fabrication of various types modules, including gas compression, carbon dioxide removal, and water injection modules, as well as steel superstructures. In addition, Kenchana Petroleum undertakes design, engineering, and fabrication of process skid systems, including metering, de-sander, air compression, gas conditioning, chemical injection, air dryer, and crude oil separator skids, as well as designing process skid systems. Further, it offers a range of supporting services, including general maintenance services, such as valve maintenance and refurbishment, testing and recalibration of pressure safety valves, and plant shutdown and maintenance services; single buoy mooring maintenance services, that comprise system overhaul and refurbishment, replacement of worn-out parts, hose change-out, and installation and commissioning of offshore structures; and other supporting services consisting of shutdown engineering services, material and equipment maintenance, and third-party consultancy services. The company was incorporated in 2004 under the name Radiant Horizon Sdn Bhd. and changed its name to Kencana Petroleum Sdn Bhd in August 2005. Further, it changed its name to Kencana Petroleum Berhad in September 2005. The company is based in Sungai Buloh, Malaysia.
Weekly chart shows that price has rebounded. It has gone passed 1.50 convincingly. Time to go in.
The daily chart MACD already had Golden Crossing. I'm waiting to see the price action, whether it can go pass 1.79, then pull back a little for me to take position. Let see.
Here is the quarterly result. It announced the 2Q result today. Cumulatively, it almost double its income compare to last FY. Solid performance!
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