Announcement • May 13
Carimin Petroleum Berhad (KLSE:CARIMIN) signed a letter of intent to acquire remaining 80.50% stake in Sealink International Berhad (KLSE:SEALINK) for approximately MYR 170 million. Carimin Petroleum Berhad (KLSE:CARIMIN) signed a letter of intent to acquire remaining 80.50% stake in Sealink International Berhad (KLSE:SEALINK) for approximately MYR 170 million on May 12, 2026. A cash consideration will be paid by Carimin Petroleum Berhad. As part of consideration, an undisclosed value is paid towards common equity of Sealink International Berhad. Carimin intends to finance the Proposed Privatisation via a combination of internally generated funds and borrowings/facilities.
The transaction is subject to approval of offer by acquirer shareholders, approval of the Scheme (by way of poll) by at least a majority in number of shareholders and 75% in value to the votes attached to the disinterested shares that are cast either in person or by proxy at the meeting of Sealink to be convened pursuant to an order of the High Court under Section 366 of the Act for the purpose of the Scheme The expected completion of the transaction is October 1, 2026 to December 31, 2026, sanction of the Scheme by the High Court under Section 366 of the Act and the lodgement of an office copy of the sealed order of the High Court obtained with the Registrar of Companies Malaysia and approval, waiver and/or consent of any other relevant authority and/or party, if any.
Malacca Securities has been appointed as the principal adviser for the Proposed Privatisation. Announcement • Apr 30
Sealink International Berhad, Annual General Meeting, Jun 30, 2026 Sealink International Berhad, Annual General Meeting, Jun 30, 2026, at 11:30 Singapore Standard Time. Location: the meeting room, 1st floor, admin block, sealink engineering and slipway sdn. bhd., lot 816, block 1, kuala baram land district, 98100 kuala baram miri, sarawak, Malaysia Reported Earnings • Feb 25
Full year 2025 earnings released: RM0.009 loss per share (vs RM0.036 profit in FY 2024) Full year 2025 results: RM0.009 loss per share (down from RM0.036 profit in FY 2024). Revenue: RM189.6m (up 51% from FY 2024). Net loss: RM4.61m (down 126% from profit in FY 2024). Over the last 3 years on average, earnings per share has increased by 43% per year whereas the company’s share price has increased by 45% per year. Announcement • Jan 22
Carimin Petroleum Berhad (KLSE:CARIMIN) acquired 19.50% stake in Sealink International Berhad (KLSE:SEALINK) from from Lo Ling for MYR 40 million. Carimin Petroleum Berhad (KLSE:CARIMIN) acquired 19.50% stake in Sealink International Berhad (KLSE:SEALINK) from from Lo Ling for MYR 40 million on January 21, 2026. A cash consideration valued at MYR 0.41 per share will be paid by Carimin Petroleum Berhad. As part of consideration, an undisclosed value is paid towards common equity of Sealink International Berhad. The acquisition was funded entirely through Carimin’ internally generated funds.
Carimin Petroleum Berhad (KLSE:CARIMIN) completed the acquisition of 19.50% stake in Sealink International Berhad (KLSE:SEALINK) from from Lo Ling on January 21, 2026. New Risk • Jan 21
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Malaysian stocks, typically moving 8.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (8.3% average weekly change). Market cap is less than US$100m (RM152.5m market cap, or US$37.6m). Reported Earnings • Nov 27
Third quarter 2025 earnings released: EPS: RM0.004 (vs RM0.022 in 3Q 2024) Third quarter 2025 results: EPS: RM0.004 (down from RM0.022 in 3Q 2024). Revenue: RM56.5m (up 42% from 3Q 2024). Net income: RM1.91m (down 83% from 3Q 2024). Profit margin: 3.4% (down from 28% in 3Q 2024). Over the last 3 years on average, earnings per share has increased by 80% per year but the company’s share price has only increased by 39% per year, which means it is significantly lagging earnings growth. Board Change • Sep 30
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 4 highly experienced directors. Independent Non-Executive Director Nyet Yong was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • May 30
First quarter 2025 earnings released: RM0.014 loss per share (vs RM0.011 profit in 1Q 2024) First quarter 2025 results: RM0.014 loss per share (down from RM0.011 profit in 1Q 2024). Revenue: RM30.0m (up 4.2% from 1Q 2024). Net loss: RM6.98m (down 222% from profit in 1Q 2024). Over the last 3 years on average, earnings per share has increased by 119% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. New Risk • May 22
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Malaysian stocks, typically moving 13% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (13% average weekly change). Minor Risks Large one-off items impacting financial results. Market cap is less than US$100m (RM85.0m market cap, or US$19.9m). New Risk • May 06
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 43% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Large one-off items impacting financial results. Market cap is less than US$100m (RM87.5m market cap, or US$20.7m). Announcement • Apr 29
Sealink International Berhad, Annual General Meeting, May 28, 2025 Sealink International Berhad, Annual General Meeting, May 28, 2025, at 11:00 Singapore Standard Time. Location: the meeting room, 1st floor, admin block,, sealink engineering and slipway sdn. bhd., lot 816, block 1, kuala baram land district, 98100 kuala baram miri, sarawak, Malaysia Reported Earnings • Feb 26
Full year 2024 earnings released: EPS: RM0.036 (vs RM0.008 loss in FY 2023) Full year 2024 results: EPS: RM0.036 (up from RM0.008 loss in FY 2023). Revenue: RM125.3m (up 18% from FY 2023). Net income: RM18.2m (up RM22.0m from FY 2023). Profit margin: 15% (up from net loss in FY 2023). The move to profitability was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 114% per year but the company’s share price has only increased by 23% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 21
Third quarter 2024 earnings released: EPS: RM0.023 (vs RM0.005 in 3Q 2023) Third quarter 2024 results: EPS: RM0.023 (up from RM0.005 in 3Q 2023). Revenue: RM39.8m (up 31% from 3Q 2023). Net income: RM11.2m (up 394% from 3Q 2023). Profit margin: 28% (up from 7.5% in 3Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 97% per year but the company’s share price has only increased by 37% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 29
Second quarter 2024 earnings released: EPS: RM0.017 (vs RM0.013 in 2Q 2023) Second quarter 2024 results: EPS: RM0.017 (up from RM0.013 in 2Q 2023). Revenue: RM35.9m (up 14% from 2Q 2023). Net income: RM8.70m (up 32% from 2Q 2023). Profit margin: 24% (up from 21% in 2Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 79% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth. New Risk • Aug 05
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Malaysian stocks, typically moving 12% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (12% average weekly change). Minor Risk Market cap is less than US$100m (RM140.0m market cap, or US$31.6m). Reported Earnings • May 30
First quarter 2024 earnings released: EPS: RM0.011 (vs RM0.015 loss in 1Q 2023) First quarter 2024 results: EPS: RM0.011 (up from RM0.015 loss in 1Q 2023). Revenue: RM28.7m (up 58% from 1Q 2023). Net income: RM5.71m (up RM13.2m from 1Q 2023). Profit margin: 20% (up from net loss in 1Q 2023). The move to profitability was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 62% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Announcement • May 05
Sealink International Berhad, Annual General Meeting, May 28, 2024 Sealink International Berhad, Annual General Meeting, May 28, 2024, at 11:00 Singapore Standard Time. Location: Meeting Room, 1st Floor, Admin Block, Sealink Engineering and Slipway Sdn. Bhd. Lot 816, Block 1, Kuala Baram Land District, 98100 Kuala Baram Miri Sarawak Malaysia Agenda: To receive the Directors' Report and Audited Financial Statements for the financial year ended 31 December 2023 together with the Report of the Auditors thereon; to re-elect Mr. Toh Kian Sing; to re-elect Mr. Eric Khoo Chuan Syn @ Khoo Chuan Syn; to approve the payment of Directors' Fees; to re-appoint Messrs. Grant Thornton Malaysia PLT as Auditors of the Company until the conclusion of the next AGM and to authorise the Directors to determine their remuneration; to consider proposed Retention of Independent Director; to consider authority to issue shares pursuant to Sections 75 and 76 of the Companies Act 2016 ("the Act") and waiver of pre-emptive rights; and to transact other matters. Reported Earnings • Mar 01
Full year 2023 earnings released: RM0.008 loss per share (vs RM0.04 loss in FY 2022) Full year 2023 results: RM0.008 loss per share (improved from RM0.04 loss in FY 2022). Revenue: RM106.2m (up 63% from FY 2022). Net loss: RM3.83m (loss narrowed 81% from FY 2022). Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Announcement • Feb 29
Sealink International Berhad to Report Q4, 2023 Results on Feb 28, 2024 Sealink International Berhad announced that they will report Q4, 2023 results at 5:00 PM, Singapore Standard Time on Feb 28, 2024 Buy Or Sell Opportunity • Feb 28
Now 23% undervalued Over the last 90 days, the stock has risen 5.9% to RM0.18. The fair value is estimated to be RM0.23, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 28% over the last 3 years. Earnings per share has grown by 29%. Buying Opportunity • Dec 27
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 8.1%. The fair value is estimated to be RM0.21, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 28% over the last 3 years. Earnings per share has grown by 29%. Buying Opportunity • Nov 30
Now 22% undervalued Over the last 90 days, the stock is up 13%. The fair value is estimated to be RM0.22, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 28% over the last 3 years. Earnings per share has grown by 29%. Announcement • Nov 23
Sealink International Berhad to Report Q3, 2023 Results on Nov 22, 2023 Sealink International Berhad announced that they will report Q3, 2023 results on Nov 22, 2023 Reported Earnings • Nov 23
Third quarter 2023 earnings released: EPS: RM0.46 (vs RM0.006 loss in 3Q 2022) Third quarter 2023 results: EPS: RM0.46 (up from RM0.006 loss in 3Q 2022). Revenue: RM30.3m (up 41% from 3Q 2022). Net income: RM2.28m (up RM5.05m from 3Q 2022). Profit margin: 7.5% (up from net loss in 3Q 2022). Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 25
Second quarter 2023 earnings released: EPS: RM0.013 (vs RM0.002 loss in 2Q 2022) Second quarter 2023 results: EPS: RM0.013 (up from RM0.002 loss in 2Q 2022). Revenue: RM31.5m (up 96% from 2Q 2022). Net income: RM6.58m (up RM7.64m from 2Q 2022). Profit margin: 21% (up from net loss in 2Q 2022). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Announcement • Aug 25
Sealink International Berhad to Report Q2, 2023 Results on Aug 24, 2023 Sealink International Berhad announced that they will report Q2, 2023 results on Aug 24, 2023 Announcement • Jun 02
Sealink International Berhad to Report Q1, 2023 Final Results on May 31, 2023 Sealink International Berhad announced that they will report Q1, 2023 final results on May 31, 2023 Reported Earnings • Jun 01
First quarter 2023 earnings released: RM0.015 loss per share (vs RM0.018 loss in 1Q 2022) First quarter 2023 results: RM0.015 loss per share (improved from RM0.018 loss in 1Q 2022). Revenue: RM18.2m (up 143% from 1Q 2022). Net loss: RM7.51m (loss narrowed 15% from 1Q 2022). Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 30% per year, which means it is significantly lagging earnings. Reported Earnings • Apr 18
Full year 2022 earnings released: RM0.04 loss per share (vs RM0.13 loss in FY 2021) Full year 2022 results: RM0.04 loss per share (improved from RM0.13 loss in FY 2021). Revenue: RM65.3m (up 72% from FY 2021). Net loss: RM20.2m (loss narrowed 69% from FY 2021). Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has fallen by 30% per year, which means it is performing significantly worse than earnings. Reported Earnings • Mar 03
Full year 2022 earnings released: RM0.04 loss per share (vs RM0.13 loss in FY 2021) Full year 2022 results: RM0.04 loss per share (improved from RM0.13 loss in FY 2021). Revenue: RM65.3m (up 72% from FY 2021). Net loss: RM20.2m (loss narrowed 69% from FY 2021). Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has fallen by 31% per year, which means it is performing significantly worse than earnings. Reported Earnings • Dec 03
Third quarter 2022 earnings released: RM0.006 loss per share (vs RM0.016 loss in 3Q 2021) Third quarter 2022 results: RM0.006 loss per share (improved from RM0.016 loss in 3Q 2021). Revenue: RM21.5m (up 87% from 3Q 2021). Net loss: RM2.78m (loss narrowed 65% from 3Q 2021). Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has fallen by 38% per year, which means it is performing significantly worse than earnings. Reported Earnings • Aug 31
Second quarter 2022 earnings released: RM0.002 loss per share (vs RM0.015 loss in 2Q 2021) Second quarter 2022 results: RM0.002 loss per share (up from RM0.015 loss in 2Q 2021). Revenue: RM16.1m (up 61% from 2Q 2021). Net loss: RM1.05m (loss narrowed 86% from 2Q 2021). Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has fallen by 36% per year, which means it is performing significantly worse than earnings. Board Change • Jul 31
High number of new directors Independent Non-Executive Director Nyet Yong was the last director to join the board, commencing their role in 2022. Reported Earnings • Jun 02
First quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2022 results: RM0.018 loss per share (up from RM0.02 loss in 1Q 2021). Revenue: RM7.48m (up 3.2% from 1Q 2021). Net loss: RM8.80m (loss narrowed 11% from 1Q 2021). Revenue exceeded analyst estimates by 12%. Earnings per share (EPS) missed analyst estimates. Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings. Announcement • May 07
Sealink International Berhad, Annual General Meeting, May 31, 2022 Sealink International Berhad, Annual General Meeting, May 31, 2022, at 11:00 Singapore Standard Time. Location: The Meeting Room, 1st Floor, Admin Block, Sealink Engineering and Slipway Sdn Bhd, Lot 816 Block 1, Kuala Baram Land District, 98100 Kuala Baram Miri Sarawak Malaysia Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 5 highly experienced directors. Independent-Non Executive Director Sebastian Ting was the last director to join the board, commencing their role in 2013. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Apr 17
Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2021 results: RM0.13 loss per share (down from RM0.082 loss in FY 2020). Revenue: RM38.0m (down 24% from FY 2020). Net loss: RM65.4m (loss widened 60% from FY 2020). Revenue exceeded analyst estimates by 12%. Earnings per share (EPS) missed analyst estimates. Over the last 3 years on average, earnings per share has fallen by 32% per year but the company’s share price has only fallen by 21% per year, which means it has not declined as severely as earnings. Reported Earnings • Feb 24
Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2021 results: RM0.13 loss per share (down from RM0.082 loss in FY 2020). Revenue: RM37.8m (down 24% from FY 2020). Net loss: RM65.8m (loss widened 61% from FY 2020). Revenue exceeded analyst estimates by 12%. Earnings per share (EPS) missed analyst estimates. Over the last 3 years on average, earnings per share has fallen by 32% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Reported Earnings • Nov 26
Third quarter 2021 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2021 results: RM0.016 loss per share (up from RM0.025 loss in 3Q 2020). Revenue: RM11.5m (up 37% from 3Q 2020). Net loss: RM7.94m (loss narrowed 38% from 3Q 2020). Revenue exceeded analyst estimates by 12%. Earnings per share (EPS) missed analyst estimates. Earnings per share (EPS) missed analyst estimates. Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Reported Earnings • Sep 20
Second quarter 2021 earnings released: RM0.015 loss per share (vs RM0.02 loss in 2Q 2020) Second quarter 2021 results: Net loss: RM7.52m (loss narrowed 26% from 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Reported Earnings • Jun 02
First quarter 2021 earnings released: RM0.02 loss per share (vs RM0.011 loss in 1Q 2020) The company reported a poor first quarter result with increased losses, weaker revenues and weaker control over costs. First quarter 2021 results: Revenue: RM7.25m (down 65% from 1Q 2020). Net loss: RM9.84m (loss widened 78% from 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 15% per year, which means it is well ahead of earnings. Reported Earnings • Mar 30
Full year 2020 earnings released: RM0.089 loss per share (vs RM0.073 loss in FY 2019) The company reported a poor full year result with increased losses, weaker revenues and weaker control over costs. Full year 2020 results: Revenue: RM50.0m (down 25% from FY 2019). Net loss: RM44.7m (loss widened 22% from FY 2019). Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 30% per year, which means it is tracking significantly ahead of earnings growth. Is New 90 Day High Low • Mar 05
New 90-day high: RM0.21 The company is up 31% from its price of RM0.16 on 04 December 2020. The Malaysian market is down 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Machinery industry, which is up 18% over the same period. Reported Earnings • Nov 29
Third quarter 2020 earnings released: RM0.025 loss per share The company reported a poor third quarter result with increased losses and weaker revenues and control over expenses. Third quarter 2020 results: Revenue: RM8.39m (down 65% from 3Q 2019). Net loss: RM12.7m (loss widened 213% from 3Q 2019). Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth.