=MARKET BUZZ: Malaysia's Sapura Energy Slumps To Record Low After Weak 3Q
KUALA LUMPUR (Dec 07) -- Sapura Energy falls 14.9% to record low of MYR1.03 after reporting net loss in 3Q. "The result are weaker than expected, mainly due to wider losses in E&C and drilling segment," says Kenanga Investment Bank analyst Sean Lim. Tips drilling order to recover gradually, only after 6 months, despite stronger oil prices. "Short-term prospects are still bleak and the service rate is also deteriorating," he adds. Company to brief analysts later today.
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