KIMHENG OFFSHORE&MARINE HLDLTD
5G2.SI
Issues profit guidance
- Kim Heng Offshore & Marine has issued a profit guidance for its 2Q15 results, as it expects to report a net loss in the quarter, compared to a net profit of S$1.6m in 2Q14.
- This was mainly due to a decrease in revenue due to the low demand for maintenance of rigs and related goods and services because of the fall in global oil prices.
- Recall that we were forecasting net profit of S$4.3m in FY15; 1Q15 saw S$1.1m in net profit.
- We currently have a HOLD rating with a S$0.13 fair value estimate on the stock.
Low Pei Han | http://www.ocbcresearch.com/ OCBC Investment Research 2015-08-11
0.13
Same
0.13
