Rex International Holding

Preview Rex International FY21 Results: Prime Beneficiary Of Rising Oil Price

Equity Bottom-Up
434 Views, 20 Jan 2022 18:28
EXECUTIVE SUMMARY
  • Rex International Holding (REXI SP) will report results around 25/2/2022; we expect a major 2H21 performance inflection as the Norwegian Brage field cash flow is included from 01/01/2021.
  • According to a press release on 13/1/22 the company is actively applying to uplist from Catalist to the mainboard. We see no reason why SGX should not grant this application.
  • Rex's Oman production has disappointed in 4Q21 but cash flow-wise shortfall should be made up by higher oil prices and Brage. Maiden dividend announcement should be forthcoming.
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Nicolas Van Broekhoven
Insight Provider
CrossASEAN Research
SingaporeEquity Bottom-Up

Was on the buyside for 15 years, most recently at a medium-sized boutique asset management firm. I grew up in Europe, we... 

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