GSS ENERGY LIMITED (SGX:41F)
GSS Energy - Ceasing Coverage
- GSS ENERGY LIMITED (SGX:41F)’s 3Q19 PATMI of SGD1.62m (+22.63% y-o-y) was mainly due to the divestment of its loss-making oil operations earlier – which reduced costs incurred for its oil & gas division. However, its P/E remains weak as profits from precision engineering dropped 10.8% y-o-y.
- As it has not executed its oil & gas exploration plan and has hived off 80% of the business (which we were bullish on), our investment thesis has changed. As such, we cease coverage on the stock.
- Our last call was NEUTRAL, with a DCF-based SGD0.08 Target Price.
- See
Jarick Seet
RHB Securities Research
|
Lee Cai Ling
RHB Invest
|
https://www.rhbinvest.com.sg/
2019-11-21
SGX Stock
Analyst Report
99998
SAME
0.080
