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.


For more stories about where the money flows, click here for our Capital section


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)

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook