Highlights

SGX Stocks and Warrants

Author: kimeng   |   Latest post: Tue, 28 Mar 2017, 10:22 AM

 

Kim Heng Offshore & Marine: Issues profit guidance

Author: kimeng   |   Publish date: Fri, 17 Feb 2017, 10:33 AM


Kim Heng Offshore & Marine announced last evening that it expects to report a greater net loss in 4Q16 and FY16 as compared to the net loss recorded in the corresponding periods of the previous year.

This is not a surprise to us as we had previously forecasted a net loss of S$5m for FY16 due to the poor operating environment, though we now feel there is further downside risk since the company updated that there will be an impairment in the group’s PPE in 4Q16.

Notwithstanding this, Kim Heng expects to report positive net total assets, positive net current assets and cash and cash equivalents of ~S$20m as at 4Q16. Recall that cash and cash equivalents was S$23.3m in 3Q16.

As the group’s FY16 results may be out next week, we put our hold rating and fair value estimate of S$0.089 under review.

Source: OCBC Research - 17 Feb 2017

Share this

Related Stocks

Chart Stock Name Last Change Volume 
KimHeng Offshore 0.075 0.00 (0.00%) 320,900 

  Be the first to like this.
 


 

260  134  236  446 

ActiveGainersLosers
Top 10 Active Counters
 NameLastChange 
 ISR Capital 0.011+0.006 
 Noble 0.191+0.003 
 HSI23200MBePW.. 0.085-0.008 
 HSI25000MBeCW.. 0.06+0.006 
 HSI25400MBeCW.. 0.072+0.006 
 CESW 0.05-0.009 
 BlackGoldNatural 0.151+0.036 
 CFFW 0.112+0.006 
 HSI24400MBePW.. 0.112-0.012 
 Net Pacific Fin 0.074+0.017 
Partners & Brokers