What is the potential value of offshore segment job wins for MISC in FY20?

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MISC Bhd's FY20 Offshore Segment Job Win Potential Valued at Nearly US$6 Billion

MIDF Research has indicated that the potential job wins for MISC Bhd's offshore segment in FY20 are valued at close to US$6 billion. This forecast includes significant projects such as the floating production storage and offloading (FPSO) Mero 3 and FPSO Limbayong. These potential awards are seen as a key catalyst for the company's growth in the coming periods.
Key Offshore Projects Identified

The research highlights two specific projects contributing to this substantial potential value: FPSO Mero 3 and FPSO Limbayong. The securing of these contracts would represent a significant influx of business for MISC's offshore division.
Growth Outlook for FY20

These potential job wins are expected to provide growth momentum for the remaining months of the current financial year and subsequently spill over into FY20. This outlook underpins the research house's assessment of MISC's future performance.
Broader Business Segments

While the offshore segment's potential is a major focus, MIDF Research also noted that growth for MISC would be primarily driven by its liquefied natural gas (LNG) segment. This is supported by new liquefaction projects and a trend towards reduced reliance on coal in key markets like China and Korea. The petroleum tanker business faces downward pressure on rates until year-end due to strategies related to retrofitting scrubbers and demolition activities.

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What is the potential value of offshore segment job wins for MISC in FY20?

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