Oohs and Aahs of Wah Seong

While the oil & gas related pipe-coating business is still the mainstay of Wah Seong, substantial resources are also being deployed to and vested in plantations and associate companies. The exposure of revenue to global sources is also a double-edged sword since this removes leverage to the robust local oil & gas sector. We discuss impact of these factors on long term share price performance and returns on equity (ROEs).