Revenue rise for SapuraKencana
December 23, 2015 1:27 amSapuraKencana Petroleum maintained revenue growth in the third quarter as money-spinning contracts helped the Malaysian player to defy an oil market downturn.
SapuraKencana Petroleum maintained revenue growth in the third quarter as money-spinning contracts helped the Malaysian player to defy an oil market downturn.
SapuraKencana Petroleum’s US$400 million purchase of PETRONAS' assets displays its rising stature as an upstream (O&G) asset owner and operator, MIDF Research said. MIDF Research stated that the main reason for the acquisition was to rebalance their upstream portfolio.
In a statement to Bursa Malaysia, the company said net profit for the fourth quarter ended January climbed to RM337.2 million froom RM123.8 million a year ago while revenue dropped to RM1.8 billion from RM1.9 billion previously.