UOB Kay Hian analysts Danny Chan and Yeoh Bit Kun released their report following a visit to Barakah's Kota Laksamana 101 (KL101) pipelay barge, which is docked offshore Johor.
KL101 is currently undergoing some maintenance works to prepare itself for the three-year RM1.5Bn ($453.67M) Pan-Malaysia transportation and installation (T&I) contract.
KL101 is expected to depart to offshore Sabah in April for riser installation works and to start its pipe-laying job in June.
During the monsoon season from November 2013 to February 2014, KL101 was chartered as an accommodation barge in Indonesia with an estimated charter rate of 50,000 ringgit/day.
