DJ MARKET TALK: SapuraCrest Likely To Post Record FY10 Pft - CIMB

GMT [Dow Jones] STOCK CALL: SapuraCrest Petroleum (8575.KU) likely to post record net profit of MYR166 million in FY10, +43% on-year, says CIMB Research analyst Norziana Mohd Inon; cites higher drilling charter rates, turnaround of SapuraAcergy JV as reasons for improved earnings. "The company's 4Q results are expected to meet expectations, with a net profit of at around MYR34 million (+29% on-year and down 36% on-quarter)," says Norziana. adds 1Q, 4Q typically weaker quarters for SapuraCrest due to the monsoon season. Company expected to announce 4Q results after 0900 GMT March 25. Stock last down 0.8% at MYR2.43. Keeps Outperform call with unchanged MYR3.02 target.