O&M

O&M: CIMB issues a flash note maintaining Overweight for the sector. Upstream has reported that Saudi Aramco is considering orders up to 5 jack-up rigs to replace part of its fleet. House est 60% of 21 Aramco rigs are around 30 yrs old. Both Keppel Corp and SembMarine stand equal chances of bagging contracts given track record and relationship with Aramco. House maintains Outperform on SembMarine (TP$6.3 and KepCorp (TP$15.00), with SembMarine (TP$6.38 ) as preferred pick.