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CGS-CIMB raises Sembmarine target price to 11 cents on reduced losses and prospect of new orders

The Edge Singapore
The Edge Singapore8/15/2022 02:21 PM GMT+08  • 2 min read
CGS-CIMB raises Sembmarine target price to 11 cents on reduced losses and prospect of new orders
Photo: Sembcorp Marine
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CGS-CIMB’s Lim Siew Khee has kept her “hold” call on Sembcorp Marine but with a higher target price of 11 cents from 9 cents, following reduced operating losses for 1HFY2022.

Lim, writing in her Aug 15 report, notes that the net loss of $143 million was lower than her projection of $190 million.

Operating losses, meanwhile, was reduced from $422 million for 2HFY2021 to just $31 million for 1HFY2022, with no major impairment or cost over-runs incurred.

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