Stock Name: MHB
Company Name: MALAYSIA MARINE AND HEAVY ENG
Research House: ECMLIBRA
Company Name: MALAYSIA MARINE AND HEAVY ENG
Research House: ECMLIBRA
ECM Libra is maintaining its "hold" call on Malaysia Marine and Heavy Engineering Holdings Bhd (MMHE), with a target price of RM5.80 per share.
The research housed based its assessment on the shipbuilder''s near-term tender book which currently stood at RM7 billion coupled with the fact that phase one of its project in Turkmenistan was nearing completion.
Expectations are rife that MMHE would have a smooth transition into Phase Two of the project.
"We view that an announcement on this will be made by end-March but in the event that is not, it should be expecting a blip in first-quarter financial year 2012 results," it said in a research note today.
ECM Libra also earmarked MMHE to take the lead in government's move to consolidate the fabrication industry and the prospect of them adding yards space was no doubt a positive one, it added. -- Bernama
The research housed based its assessment on the shipbuilder''s near-term tender book which currently stood at RM7 billion coupled with the fact that phase one of its project in Turkmenistan was nearing completion.
Expectations are rife that MMHE would have a smooth transition into Phase Two of the project.
"We view that an announcement on this will be made by end-March but in the event that is not, it should be expecting a blip in first-quarter financial year 2012 results," it said in a research note today.
ECM Libra also earmarked MMHE to take the lead in government's move to consolidate the fabrication industry and the prospect of them adding yards space was no doubt a positive one, it added. -- Bernama
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