Daily Brief Energy/Materials: CPMC Holdings, KCP Ltd, Crude Oil, Gulf Marine Services PLC, Vista Energy SAB de CV, Sealed Air Corp, SGX Rubber Future TSR20, Zephyr Energy, Akzo Nobel NV, Condor Energies and more

• At a 1.5% gross spread to terms, CPMC Holdings (906 HK) is trading with completion is mind after the last pre-condition – SAFE – was satisfied on the 13th December. 
• The Offer Doc is now out and the transaction is open for acceptances. The First Close is the 10th January. 
• I’d expect this deal to turn unconditional on or before the First Close, with payment around the 20th January.  

• KCP Ltd (KCPL IN) is available at a significant discount due to underperformance and margin deterioration.
• The sugar sector is performing well due to higher realization and higher sugar cultivation. 
• The company is poised for a high valuation if it demerges or sale its cement business, which is a big drag in the overall valuation. 

• For the week ending 13/Dec, US crude inventories fell by 0.9m barrels, missing forecasts. Gasoline stocks rose more than anticipated, while distillate inventories declined more than expected.
• US natural gas inventories fell by 125 Bcf for the week ending 13/Dec, beating analyst expectations of a 123 Bcf drawdown. Inventories are 3.8% above the 5-year seasonal average.
• Major analysts lowered their 12-month PTs on Exxon, SLB, Halliburton, and Occidental. Also, Barclays downgraded its rating on Halliburton to Equalweight from Overweight.

• Gulf Marine Services provides support vessels to the oil & gas industry in the Middle East
• The company serves clients such as ADNOC and ARAMCO for platform operations and maintenance work
• Strong connections with ADNOC and cost-effective vessels offer potential for significant growth

This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

• We are initiating coverage on Vista with an Outperform recommendation. We view Vista as an attractive option for investors seeking exposure to Argentina’s energy sector.
• Vista boasts a robust financial and business risk profile, supported by strong credit metrics, solid profitability, and its leadership position in Argentina’s Vaca Muerta shale formation.
• Vista is exposed to fewer sovereign and political risks than YPF, and its unique growth opportunity adds to its appeal.

• Sealed Air is undervalued and poised for a turnaround, with a price target of $49 per share
• The Protective segment has been underperforming due to ties to the PC market and economic indicators
• Sum-of-parts valuation method used, with different multiples applied to Protective and Food segments, indicating significant upside potential

This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

• FY 2024-25 H1 witnesses 12% YoY growth in tire exports value 
• Motorcycle tire exports volume up by 37%; Columbia largest importer 
• Bridgestone to invest US$85 million for India expansion 

• Zephyr has now entered into binding documentation to fully-fund all expected drilling, completion and production test costs for the 5,500 ft extension and acidization of the State 36-2R well.
• The funding has increased to US$7.5 mm (US$7.0 mm previously).
• In return, the funding partner will earn a 50% WI in the well.

• In this edition: • AkzoNobel | three potential bidders for Akzo Nobel India • Unilever | agreement to sell Unox and Zwan to Zwanenberg Food Group • InPost | beats Polish peers with cut-off moment for Christmas Eve delivery

• Production in Uzbekistan in December to date has averaged 11,354 boe/d.
• Adjusting for one day of shutdown implies a production capacity of almost 12 mboe/d.
• The average production in December to date (11,354 boe/d) represents an increase of over 600 boe/d compared to the latest announcement (10,706 boe/d from 5 November to 11 November) and 1,344 boe/d compared to the 3Q24 average production.