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SembMarine likely to garner new orders in 2022 now that merger terms with Keppel O&M 'largely in place': UOB Kay Hian

Felicia Tan
Felicia Tan6/22/2022 05:01 PM GMT+08  • 4 min read
SembMarine likely to garner new orders in 2022 now that merger terms with Keppel O&M 'largely in place': UOB Kay Hian
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UOB Kay Hian analyst Adrian Loh is keeping his “buy” call on Sembcorp Marine (SembMarine) with an unchanged target price of 15.6 cents after the company posted a new order win worth $200 million from the Brazilian Navy on June 14.

The latest win would result in a net orderbook of $1.95 billion, up from SembMarine’s net orderbook of $1.75 billion as at end-1QFY2022.

While the order win was expected, it still underscores the company’s continuing positive momentum, says Loh in his report on June 22.

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