Malaysia’s BHIC Still a Buy on Hopes of Shipbuilding Orders

Tuesday, November 13, 2007
ECM Libra Avenue Investment Bank said it is keeping its 'buy' call on Boustead Heavy Industries Corp Bhd (BHIC) because it expects the Malaysian shipbuilder to get more contracts, especially for naval vessels. Boustead Holdings Bhd owns 65 percent of BHIC and the Malaysian armed forces pension fund, Lembaga Tabung Angkatan Tentera, is the major shareholder in Boustead Holdings. BHIC will deliver its third patrol vessel to the Royal Malaysian Navy, a fourth is scheduled for delivery early in December and two more will be delivered by 2009, ECM said in a note. The company will be busy for the next 10 years, reportedly with another 21 patrol vessels in the pipeline. BHIC's management has indicated that the value of its order book will reach $298.5m by 2008, which means more contracts are likely be secured in the near future. The brokerage forecasts that BHIC will make net profit of $39.7m in 2008 and $53.1m in 2009. ECM is keeping its target price of $2.69 per share for BHIC stock to reflect the company's strong third-quarter results and promising outlook. Last month, the company said it swung to profit in the third quarter on an exceptional gain of $117.3m. It booked net profit of $130.1m, against a loss of $14.3m a year earlier. [Source: Thomson Financial]
Maritime Reporter June 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

Hornbeck Offshore Ride High on Q2 2014 Results

Hornbeck Offshore Services, Inc. has announced its financial results for the second quarter ended June 30, 2014.  Following are highlights for this period and excerpts

Crowley Maritime Open Singapore Office

Crowley Maritime Corp. says it has opened a full-service project management and logistics solutions office in Singapore under the leadership of industry veteran William Hill.

BOEM Extends O&G Lease Comment Period

The Bureau of Ocean Energy Management (BOEM) is extending the public comment period for the Request for Information (RFI) and Comments on the Preparation of the

Finance

Asia Dry Bulk Capesize Rates Stay Flat

Rates for capesize bulk carriers on key Asian routes are set to remain in the doldrums next week, staying flat or gaining just a few cents as an oversupply of ships weighs on cargo availability,

ISC Profit Slip in Q2 2014 but Pay Dividend

International Shipholding Corporation (ISC) has announced financial results for the quarter ended June 30, 2014, summarized here: Net Loss he Company reported a net loss of $664,

Hornbeck Offshore Ride High on Q2 2014 Results

Hornbeck Offshore Services, Inc. has announced its financial results for the second quarter ended June 30, 2014.  Following are highlights for this period and excerpts

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Offshore Oil Pipelines Pod Propulsion Port Authority Salvage Ship Simulators Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1387 sec (7 req/sec)