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Kim Heng O&M on hold for lacklustre outlook

Zavier Ong
Zavier Ong8/17/2016 12:19 PM GMT+08  • 2 min read
Kim Heng O&M on hold for lacklustre outlook
SINGAPORE (Aug 17): OCBC is maintaining its “hold” call for Kim Heng Offshore and Marine, with a target price of 8.9 cents.
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SINGAPORE (Aug 17): OCBC is maintaining its “hold” call for Kim Heng Offshore and Marine, with a target price of 8.9 cents.

This comes as the group reported a net loss of $1.4 million in 2Q16. Revenue declined 31% to $7.7 million. Net cash from operations came in at $1.3 million.

OCBC analyst Lee Pei Han says that the group is currently servicing 10-12 rigs but there remains unutilised capacity in the yard.

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