SINGAPORE (July 11): CIMB Research is maintaining its “add” rating on Sembcorp Marine (SMM) with an unchanged target price of $1.88.
In a Tuesday report, analyst Lim Siew Khee says in the next decade, SMM could be Singapore’s only mega yard left that can compete head on with the Koreans when it comes to large-scale non-rig structures.
While Keppel mothballs its unused yards, SMM requires a sustainable order book of about $4-5 billion to keep its yards afloat.
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