One month ago that old Pang was quarrel with OTB family. I just asked him what is karma stock..He started talking this and that lah. I balasah balik lah. He bought Armada 0.50 sold at 0.60 lan xi lan yong, now he stucked at peak 0.70.
Revenue contribution from key projects in Q1 are not significant yet. We are expecting higher revenue contribution from key projects in next quarters.
Example the East African Crude Oil Pipeline (EACOP) project 20% are facility construction and pipeline coating 80%. Revenue recognized from facility construction only up to 50% since last quarter which is about 10% of total project value. 90% of project value will be recognized from next quater until 1st quarter of 2025.
Contribution of Yinson`s Agogo FPSO also insignificant in Q1, 2023. More contribution in next quarter onward.
New project to be announced are Qatar Energy pipeline project extension or phase 2. Expected another FPSO related construction project in 2nd half this year.