2. Scomi attractive despite poor showing

PETALING JAYA: Scomi Group Bhd remains an attractive stock for investors despite the shares underperforming in the market, said analysts. Scomi Group, which provides oilfield services (drilling fluids and drilling waste management) has seen its share price fall more than 60% from a high of RM1.69 on Jan 11. The counter yesterday closed at 64 sen on a volume of 2.08 million shares. “There’s a good opportunity to take advantage of the price weakness in Scomi Group's shares given the strong fundamentals and future prospects of the group,” an analyst said. Such prognosis of Scomi Group's potential still sticks even though Fortis Investment Management S.A. ceased to be a substantial shareholder of Scomi Group after selling 3.54 million shares recently, said analysts. Filings with Bursa Malaysia showed the Brussels-based company... [read full story]