Issue link: https://maltatoday.uberflip.com/i/792945
maltatoday, WEDNESDAY, 1 MARCH 2017 Medserv's Middle East subsidiary, METS, has been awarded a new long term contract by Japanese Sumitomo Corporation, for the supply chain management of Oil Country Tubular Goods (OCTG) to Petroleum Devel- opment Oman (PDO), a joint venture between the Government of Oman and Shell. The contract, the largest ever won by the Medserv group to date is for an initial period of five years with a five- year extension option. "It is a very exciting time for the company. This multi-million Dollar contract results from the recently signed $1.2billion contract between PDO and Sumitomo and positions PDO as the anchor tenant at Duqm as of mid-2018. They expect up to two shipments a week, each shipment carrying 3,000 metric tonnes of pipe. This equates to approximately 70 truckloads each and every day for five years to be managed/handled by METS Oman. "We are delighted to be playing a part in this and are committed to continuing to add value to PDO's operations in the Sultanate of Oman. The contract award is testament to METS' ability to deliver reliable, high quality Supply Chain Management Services," said Anthony Diacono, Chairman Medserv plc. METS will be opening up a new facility of 117,000 sq.m at the new port of Duqm in Oman in order to be able to cater for the significant increase in volumes of product to be handled as a result of this contract. Sumitomo and METS are delighted to place in-country value at the heart of this contract delivery and to contribute to the strategic objective of the government of Oman to establish Duqm as PDO's logistics hub of the future. This new facility will bring employment opportunities for around 60 people. The new contract will include additional services over and above the previous contract Sumitomo held with METS, and will consist of inspection and rig ready and rig return services. The new facility will be able to service this expansion in scope of work with Sumitomo and PDO, and will also be able to offer the full range of Medserv logistics and engineering services from the Duqm Base. The Company further announces that it has been unsuccessful in securing its first tender in Trinidad and is awaiting adjudication on a second tender. Medserv remains very active in Trinidad and the surrounding region having successfully qualified as approved logistics provider to several international oil companies operating in the region. Further tendering opportunities are expected during 2017. 12 Regular market closed –28/02/2017 Symbol Code Volume Traded Value Traded Trades High Price Low Price Open Price Close Price Change ● BOV 18,777 41,161.18 8 2.195 2.190 2.195 2.190 0.000 ▲ GO 22,950 81,531.50 14 3.570 3.530 3.549 3.570 0.020 ● HSB 81,840 168,589.86 11 2.060 2.059 2.060 2.060 0.000 ▼ IHI 1,000 630.00 1 0.630 0.630 0.630 0.630 -0.020 ▲ MDS 58,580 96,674.16 10 1.660 1.602 1.640 1.660 0.002 ● MLT 15,800 12,798.00 3 0.810 0.810 0.810 0.810 0.000 ▲ MPC 21,100 10,972.00 3 0.520 0.520 0.520 0.520 0.003 ● PZC 10,000 10,900.00 2 1.090 1.090 1.090 1.090 0.000 ▼ RS2 8,030 13,391.91 3 1.697 1.650 1.697 1.650 -0.048 ● STS 832 1,289.60 1 1.550 1.550 1.550 1.550 0.000 ● TML 5,500 6,215.00 2 1.130 1.130 1.130 1.130 0.000 ▲ G19A 2,330 2,720.74 1 116.770 116.770 116.770 116.770 0.030 ▲ G20B 20,000 22,922.00 2 114.610 114.610 114.610 114.610 0.060 ▲ G21A 34,459 41,953.83 3 121.750 121.750 121.750 121.750 0.110 ▲ G24A 5,000 5,900.00 1 118.000 118.000 118.000 118.000 0.460 ▲ G28A 26,800 36,139.80 2 134.850 134.850 134.850 134.850 0.460 ▲ G28B 10,000 13,186.00 1 131.860 131.860 131.860 131.860 0.450 ▲ G29B 38,800 41,912.34 4 108.080 107.990 107.990 108.080 0.400 ▲ G31A 8,000 11,495.20 2 143.880 143.500 143.500 143.880 0.440 ▲ G32A 31,000 42,798.60 2 138.060 138.060 138.060 138.060 0.420 ▲ G32B 145,000 196,106.00 4 135.280 135.230 135.280 135.230 0.360 ▲ G33A 45,000 60,385.50 2 134.190 134.190 134.190 134.190 0.400 ▲ G34A 242,000 318,729.40 3 131.850 131.540 131.540 131.750 0.260 ▲ G35AA 120,000 123,292.00 2 102.760 102.660 102.760 102.660 0.190 ▲ G36A 124,400 130,809.04 6 105.300 105.000 105.000 105.260 0.350 ▲ G39A 39,400 38,734.20 2 98.500 98.300 98.500 98.300 0.180 ▲ G40A 67,600 76,938.42 5 113.850 113.780 113.780 113.850 0.110 ▼ G41A 221,500 226,025.35 4 102.090 101.810 102.080 101.810 -0.080 ● AX24A 1,200 1,344.00 1 112.000 112.000 112.000 112.000 0.000 ▼ BV18A 174,900 180,558.25 6 103.250 102.990 102.990 103.250 -0.230 ▼ BV19B 32,100 33,000.00 5 102.950 102.500 102.950 102.500 -0.450 ▼ BV30A 41,600 41,184.00 2 99.000 99.000 99.000 99.000 -0.500 ● DF26A 20,000 21,002.00 1 105.010 105.010 105.010 105.010 0.000 ● GP23A 88,000 89,320.00 7 101.500 101.500 101.500 101.500 0.000 ▲ HB18A 101,300 107,185.53 2 105.810 105.810 105.810 105.810 0.010 ● HP25A 6,000 6,300.00 1 105.000 105.000 105.000 105.000 0.000 ▼ IH26A 41,900 43,087.50 3 102.850 102.500 102.500 102.850 -0.150 ● MM26A 7,000 7,280.00 1 104.000 104.000 104.000 104.000 0.000 ● MS26A 3,700 3,888.70 1 105.100 105.100 105.100 105.100 0.000 ▲ PT24A 14,900 15,391.74 3 103.500 102.110 102.510 103.500 0.990 Market Summary as at February 28, 2017 Equity Official List Session State ................................................................... Market Closed Number of trades ............................................................. 137 Volume Traded ................................................................. 1,958,298 Value of € denominated securities .................................... 2,383,743.35 Value of US$ denominated securities ................................ 0.00 Value of GBP£ denominated securities .............................. 0.00 Current Index ................................................................... - Previous Index ................................................................. - Change in Index (%) ......................................................... - Bank of Valletta plc ........................ 2.190 0.00% Medserv plc .................................. 1.660 0.12% FIMBank plc .................................. 0.900 0.00% Mapfre Middlesea plc .................... 2.230 0.00% GlobalCapital plc ........................... 0.395 0.00% MIDI plc ........................................ 0.330 0.00% GO plc ........................................... 3.570 0.56% Plaza Centres plc ........................... 1.090 0.00% Grand Harbour Marina plc ............. 0.899 0.00% RS2 Software plc............................ 1.650 -2.83% HSBC Bank Malta plc ..................... 2.060 0.00% Simonds Farsons Cisk plc ............... 7.200 0.00% International Hotel Investments plc 0.630 -3.08% Tigné Mall plc ................................ 1.130 0.00% Lombard Bank Malta plc ................ 2.350 0.00% Pefaco International plc ................. 2.240 0.00% Malita Investments plc ................... 0.810 0.00% Santumas Shareholdings plc ......... 1.550 0.00% Malta International Airport plc ....... 4.151 0.00% Malta Properties Company plc ........ 0.520 0.58% MaltaPost plc ................................. 2.000 0.00% MSE Index Business Today Medserv subsidiary lands group's largest contract ever Market Commentary: Guess who's back? Everybody's first phone is officially back on the market, and while looks are somewhat different compared to the original Nokia 3310 it should be able to deliver on its biggest selling point – battery life. Remember the days when you use to charge your phone on Sunday night, wake up to a full battery and get on with your life for a couple of days? HMD – the mak- ers of the phone who have retained the Nokia brand – claim close to a month of stand-by time, and about 22 hours of active use. But even though battery life is the bane of all major and minor smartphones today, don't expect the Nokia 3310 to replace your flagship Android or iOS phone just yet. The phone will run the Nokia Series 30+ operating system, comes with an FM tuner, Bluetooth 3.0, built in MP3 player, expandable storage (which you're going to need – the phone only comes with 16 megabytes of onboard storage), an Opera browser with support for 2.5g internet and… Snake. What it doesn't come with, is a touchscreen (get ready to scroll with the directional pad), GPS, Wi-Fi, and support for social networking and messaging apps. It does have a camera, but it's nowhere near the quality of even today's mid-range phones. Oh, and you're going to have to re-learn typing on an alphanumeric keypad. Good luck with that! The phone is expected to hit retail in the second half of this year, comes in four colours and should be priced at around €49. The nostalgia is strong with this one! LSE – Deutsche Boerse merger derailing The much talked-about merger of Europe's top exchanges is set to fail as the London Stock Exchange has rejected the latest demands by European antitrust regulators. The LSE was asked to sell the MTS trading platform to its smaller rival Euronext to balance things out – a request which it publicly ruled out. The rejection casts many doubts over the planned merger with Deutsche Boerse, which had already faltered after Brexit. After the UK voted to leave the European Union, German politicians became very vocal about having the headquarters situated in Germany – a concession the LSE was not willing to make. Furthermore, the designated head of the group – Cartsen Kengeter – was investigated by German state prosecutors for alleged insider trading. No charges were brought and Kengeter denied any wrongdoing, but the incident strained what was an already difficult relationship. Shares in both exchanges are about 1% to 2% lower since the news, having dropped as much as 5% yesterday. This article was issued by Andrew Martinelli, Trader at Calamatta Cuschieri. For more information visit, www.cc.com.mt. The information, view and opinions provided in this article is being provided solely for educational and informational purposes and should not be construed as investment advice, advice concerning particular investments or investment decisions, or tax or legal advice. Calamatta Cuschieri Investment Services Ltd has not verified and consequently neither warrants the accuracy nor the veracity of any information, views or opinions appearing on this website.