SINGAPORE (Nov 8): DBS Group Research is keeping its “hold” call on PACC Offshore Services Holdings (POSH), and slashing its target price to 25 cents, from 32 cents previously.

Despite recent share price weakness following the completion of the bulk sale by major shareholder Malaysia Bulk Carriers Berhad (MBC), the brokerage warns the worst might not be over yet for PACC Offshore.

Shares in POSH have fallen 50% from its 52-week-high of 45 cents on Feb 2, and are currently trading at 22.5 cents.

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