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Yangzijiang's order book may reach 5 year record high of US$5 bil by end-2021: CGS-CIMB

Atiqah Mokhtar
Atiqah Mokhtar3/8/2021 4:21 PM GMT+08  • 2 min read
Yangzijiang's order book may reach 5 year record high of US$5 bil by end-2021: CGS-CIMB
Yangzijiang's ytd secured orders stand at US$3.0 bil, its highest since 2009.
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CGS-CIMB Reseach analyst Lim Siew Khee maintained her ‘add’ rating for Yangzijiang Shipbuilding with an unchanged target price of $1.54 after the company recently announced it had signed contracts to build 31 vessels for a total contract value of US$1.74 billion ($2.32 billion).

Lim says that the new contracts bring Yangzijiang’s year-to-date orders secured to a record US$3.04 billion, its highest since 2009. She currently estimates the company’s order book at US$6.1 billion and expects it to reach US$4.8-5 billion by end of FY2021.

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