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Pacific Radiance’s Indon Connection To Serve It Well
Tradeable, Tradeable Ideas | 19 June 2014
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By: Raymond Leung
Articles (142) Profile
  1. PACRA owns OSVs and provides subsea services and marine equipments around the world. Importantly, it controls 60 Indonesian flagged vessels.
  2. Indonesia maintains high barriers to entry due to laws that prevent foreign competition in downstream oil and gas activities.
  3. PACRA’s businesses are well diversified geographically. Revenue is derived from Asia (58 percent), Africa (18 percent) and Australia (15 percent).

Source: FactSet, graphical representation of analysts’ calls on Pacific Radiance

Pacific Radiance (PACRA) is an owner of OSVs and provider of subsea services and marine equipments for oil and gas companies around the world. The firm is a rather young company having found in 2002 and listed on the SGX last November.

The company has an advantage over many of its competitors operating in Indonesia as it controls 60 Indonesian flagged vessels through its joint ventures and associate companies. It will be one of PACRA’s niche markets due to laws by the Indonesian government.

PACRA’s businesses are well diversified geographically as it spreads across different continents and not over-reliant on any country. The revenue is derived from Asia (58 percent), Africa (18 percent) and Australia (15 percent).

PACRA is involved in the OSV chartering business and subsea services which are both in demand among the oil and gas industry.

The company also manages the construction of its vessels in third party shipyard in contrary to other operators which purchase their assets from trading companies or brokers.

This will give PARCA a better profit margin as they have a lower vessel acquisition cost.

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Trained in fund management, Raymond is familiar with shares and various investment vehicles.

Please click here for more information about this author.

Pacific Radiance  -- -- --   
Business: Co is a provider of offshore support solutions with a fleet of more than 130 vessels. [FY17 Turnover] Offshore support services business (62.4%), subsea business (27.8%), complementary business (9.8%).

Insight: Nov-18, 9M18 revenue fell 5.7% to US$45.9m mainly ... Read More

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