Singapore Stock Market News

Jaya Holdings - Chartering: strength to strength

StockFanatic
Publish date: Thu, 20 Jun 2013, 10:56 AM
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We came away positive from Jaya's meetings with investors at our Annual Asia Pacific Conference. After a two-year transition, we see that Jaya has successfully morphed into a quality charterer. An emergent OSV sector and oncoming quality newbuilds should continue to buoy the business division.

We keep our FY13-15 EPS and target price based on 1x CY13 P/BV (the four-year mean). We maintain Outperform with catalysts to come from stronger chartering operations and shipbuilding and charter contracts.
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