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Tough operating climate keeps POSH at ‘hold’ despite historic undertaking

Samantha Chiew
Samantha Chiew6/1/2017 4:49 PM GMT+08  • 2 min read
Tough operating climate keeps POSH at ‘hold’ despite historic undertaking
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.
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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.

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