Tidying up has begun, but the outlook is still challenging. Cashflows
have eased following the refinancing of its RM130m debt, originally due
in 2012-13. While this is a positive, the operating outlook remains a
challenge. Old vessels continue to drag on earnings, while the direction
over its 27% stake in Petra Energy remains unclear. Perdana remains a
Hold with an unchanged RM0.70 TP (0.7x P/BV).
Maybank research (20 December 2011)
Click here for full report
No comments:
Post a Comment