-->

Tat Hong Holdings - OCBC Investment 2016-01-28: Expects a loss for 3QFY16

Tat Hong Holdings - OCBC Investment 2016-01-28: Expects a loss for 3QFY16 TAT HONG HOLDINGS LTD T03.SI 

Tat Hong Holdings: Expects a loss for 3QFY16 

  • Tat Hong issued a profit guidance yesterday evening for its 3QFY16 results. 
  • The group expects to report a loss for the quarter due to costs and provisions associated with exiting the excavator distribution business in Indonesia, weak performance from its Australian operations as well as foreign exchange losses. 
  • These factors have been dragging earnings for the past few quarters. 
  • Recall that the group's 1HFY16 PATMI was S$7.2m, while we were forecasting PATMI for FY16F at S$12.5m. 
  • Results will be released on 12 Feb after market close. 
  • As we wait for further details on the extent of such losses, we currently have a HOLD rating and fair value estimate of S$0.56 on the stock.



Jodie Foo OCBC Securities | http://www.ocbcresearch.com/ 2016-01-28
OCBC Securities SGX Stock Analyst Report HOLD Maintain HOLD 0.56 Same 0.56


Advertisement



MOST TALKED ABOUT STOCKS / REITS OF THE WEEK



loading.......



ANALYSTS SAY


loading.......