SINGAPORE (Feb 27): CIMB is maintaining its “hold” call on CSE Global with a target price of 39 cents after the O&G engineering firm swung to a loss of $37.3 million in 4Q17 on one-off exceptional items.
The quarterly loss brings FY17’s loss to $45.1 million, compared to earnings of $21.2 million in FY16.
Despite the group’s disappointing results, CSE Global says it has won orders of about $381.9 million in FY17, a 33.3% y-o-y increase, driven by its O&G and infrastructure segments. Order backlog was at $175 million at end 4Q17.
For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
