Affin Hwang Capital Research Highlights

HwangDBS Research Highlights - 18 Nov 2013

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Publish date: Mon, 18 Nov 2013, 10:04 AM
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This blog publishes research highlights from Affin Hwang Capital Research.

Bumi Armada; Buy; RM3.79
Price Target: RM4.50 (Prev RM3.30); BAB MK
Long-awaited contract win

Significant North Sea FPSO win to leapfrog BAB to top league of FPSO players. Strong FPSO bid pipeline underpins growth prospects; raised FY14/15F earnings by 24%/34%. Upgrade to BUY, TP lifted to RM4.50 TP.

Source: HwangDBS Research - 18 Nov 2013

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