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More for CSE Global to accomplish before CIMB turns bullish

Samantha Chiew
Samantha Chiew2/27/2018 10:33 AM GMT+08  • 3 min read
More for CSE Global to accomplish before CIMB turns bullish
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.
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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.

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