SINGAPORE (June 1): OCBC is maintaining its “hold” call on PACC Offshore Services Holdings (POSH) with a higher fair value estimate of 33.5 cents.
Despite POSH being involved in the towing and positioning of Shell Prelude, the world’s largest offshore facility, OCBC says persisting challenges in the operating environment for the broader offshore & marine sector remain.
To recap, Samsung Heavy Industries is set to deliver Shell Prelude to Sydney, Australia in end-June. Two local companies, POSH and Ezion, will be supporting the project.
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)
