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1H results confirm turnaround for Uni-Asia, says NRA

Stanislaus Jude Chan
Stanislaus Jude Chan8/15/2017 3:27 PM GMT+08  • 2 min read
1H results confirm turnaround for Uni-Asia, says NRA
SINGAPORE (Aug 15): NRA Capital is keeping its “overweight” call on once-beleaguered Uni-Asia Group with an unchanged fair value estimate of $1.86.
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SINGAPORE (Aug 15): NRA Capital is keeping its “overweight” call on once-beleaguered Uni-Asia Group with an unchanged fair value estimate of $1.86.

“We continue to like Uni-Asia for its turnaround story, especially with the stabilization of the dry bulk sector,” says NRA analyst Liu Jinshu in a Tuesday report.

The Baltic Dry Index (BDIY) improved to 1,138 as of Aug 15, recovering from 901 as at end June. Uni-Asia’s net profit from this business grew to US$1.6 million ($2.2 million) in 2Q17, from US$1.4 million in the preceding quarter, despite total revenue coming in flat q-o-q.

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