Wasco is a Bursa energy services company with a volatile ROE over the past decade. It ranged from negative 34 % to postive 12 % with an average of negative 3%.

Over the same period the ROE of my reference Bursa energy company – Dayang - ranged from negative 27 % to positive 22 % with an average of positive 5%. https://www.i4value.asia/2023/11/is-dayang-one-of-better-bursa-stocks.html#more

Wasco did not perform as well as Dayang. But Wasco 2023 ROE based on Sep 2023 LTM results show that it is around its historical high. And with the news about coming high crude oil prices, it may mean that the 2024 ROE will also be good.

When you compare Wasco ROE trends with the market price, you can see a reasonable correlation. But the current market price has yet to reach its historical high. Is this a short term investment opportunity? https://i.postimg.cc/TYTvSy6J/Wasco.png

2023 has been a phenomenal year for Wasco's return to black journey; starting from EACOP, followed suit by multiple contracts won resulting from increasing deep water offshore activities globally and demand for gas. From the start of uptrend channel back in second half of 2022 to breaking above the decade long downtrend trendline in Jul'23 and stayed above it until today; marking a new major trend in place. Barring any unforeseen circumstances that may hinder its progress in delivering its commitments, Wasco will remain profitable as current orderbook provides earnings visibility stretching into 2025 while Wasco continue to strengthen its balance sheet through divestment of non-core assets, operational efficiencies and asset monetization. Wishing all Wasco shareholders a prosperous 2024; year of the Dragon:)