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Higher oil prices amid geopolitical uncertainties catalyst for Kim Heng: SAC Capital

Felicia Tan
Felicia Tan3/31/2022 05:00 PM GMT+08  • 2 min read
Higher oil prices amid geopolitical uncertainties catalyst for Kim Heng: SAC Capital
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Despite Kim Heng’s net loss of $5.9 million for the FY2021 ended December, SAC Capital analyst Lim Shu Rong remains positive on the integrated offshore and marine value chain services provider’s prospects.

During the FY2021, Kim Heng saw revenue improve 68% y-o-y to $63.2 million as all segments – except equipment rental – registered growth. During the year, the chartering and towage segment were the largest revenue contributor.

Revenue for chartering and towage surged 172% y-o-y to $29.4 million and represented 47% of Kim Heng’s total revenue.

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