SINGAPORE (Nov 17): OCBC is maintaining a “hold” for Tat Hong, the provider of crawler and mobile cranes for rental, and cutting its fair value from 57 cents to 56 cents given the subdued outlook for core markets.

Tat Hong’s 2QFY16 revenue dropped 10.1% y-o-y to $137.4 million while PATMI declined 61.7% to $4.4 million. Excluding one-off items, such as FX gains and a $4.8 million gain on disposal of a subsidiary Hup Hin Transport last year, bottomline was comparable to a year ago period.

Sales from the distribution segment grew 12.5% y-o-y to $54.8 million while the other segments saw declines.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Related Stories

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook