Bursa Malaysia Stock Watch

Malaysia Marine and Heavy Engineering Holdings: Maintain Hold - Yard trip: Progress and prospects

kltrader
Publish date: Fri, 30 Mar 2012, 04:49 PM
kltrader
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Maintain Hold; RM5.70 TP. Our recent visit to the yard confirmed that the Gumusut-Kakap FPS project is on schedule for delivery in 2Q 2013 and the Malikai TLP project could be the next deepwater project to be built there. Meanwhile, the takeover of Sime Darby (SD)'s yard is set to be completed by April and the exercise would now include the Kebabangan project. There is no change to our earnings forecasts and TP, based on 20x 2013E PER. Current valuations support a Hold call.

Maybank Research - 30 March 2012

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1 person likes this. Showing 1 of 1 comments

joni

short term break out RM5.60

2012-03-30 19:14

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