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KUALA LUMPUR – CIMB Research has maintained its Outperform rating on Perisai Petroleum Bhd at 90 sen with a target price of RM1.53 and said it expects Perisai’s 2Q performance to provide plenty of thrills, with net profit coming in at an estimated RM23 million-RM26 million (2Q11: RM7.8 million), a new high.

In a note Wednesday, the research house said drilling and FPSO ventures could more than make up for the potential shortfall.
“Meanwhile, 2Q performance may show a tripling of earnings year-on-year,” it said. -By theedgemalaysia.com